how does nike communicate with their stakeholders

Overall, Nikes marketing is very effective in communicating its brand to consumers. The marketing team of Nike constantly looks for the touch points by which they can engage the customers communicate with them directly. For most of the businesses it is vital to have stakeholder groups because it may affect business efficiency, may increase sales, or even it may help for the business to reach its aims and objectives more effectively. The feedback was also consolidated and provided back to the NIKE team. The interests of these stakeholders include support for the development of communities. Nike could introduce the use of fairtrade in the manufacturing process to ensure their workers receive a sufficient salary, This would increase the sustainability of the company as well as improving their reputation. What Does A Low Receivable Turnover Ratio Indicate? NIKEs SB&I team managed the overall reporting process and actively participated in stakeholder engagement as an information provider and listener. The project illustrates communication process in Adidas, which is used to group and give out information and managerial data. Launching brands as endorsement to sports celebrities such as Michael Jordan, Michael Johnson and tiger woods cultivated a positive image of the brand among the customers and celebrities as well as top and successful brand in the sports products industry. May 02, 2019. Stakeholders are groups or individuals that have an interest in a business. Additionally, Nikes marketing campaigns often feature well-known athletes and celebrities, which helps to further strengthen the brands image. They are the ones who actually make the products and run the company. Nike has to communicate in its website in order to inform the consumers and the employees. These pop-ups collect customer data and are used to engage with present and possible customers regularly. Nikes prioritization of customers reflects the importance of this stakeholder group. The brands shoes are a fixture at runway shows, and sell out in stores. People should be offered a variety of options to communicate with you and provide their input. As a result, Nike is one of the most successful and well-known brands in the world. For CCPA and GDPR compliance, we do not use personally identifiable information to serve ads in California, the EU, and the EEA. How does Nike communicate with their suppliers? Nike used some organic cotton and Better Cotton . The objectives of implementation of integrated marketing communication techniques are to ultimately increase the profit- margin of the business by reaching the maximum customers effectively. Starting wages for North American hourly employees in our stores (including US, Puerto Rico and Canada) begins at $15 USD/CAD. Nike Inc. addresses these interests through the Nike Foundations initiatives, as well as sponsorships of a variety of related programs. How does Nike communicate with their owners?Nike communicates its progress to its stakeholders, through its website nikeresponsibility.com backgrounders, quarterly electronic newsletters, the 2001 Corporate Responsibility Report and Community Investment Report 2002-2003. Nike runs dozens of sports training . Besides Instagram, Nike communicate with their customers through email subscriptions. Considering high profitability and growing sales revenues, Nikes corporate social responsibility effectively satisfies the interests of customers as a top-priority stakeholder group. One of Nikes primary stakeholders is its employees. Interest Groups 5. Integrated Marketing Communication: A Business Process. The highest number of employees was reported in 2019 when Nike reported 76,700 people on their payroll. Nike has the following stakeholders, arranged according to the firms prioritization: Customers. In 2020, the company employed 75,400 people. Nike Inc. uses its promotional mix or marketing communications mix to communicate with target customers in the global athletic footwear, apparel, and equipment industry. There are many different types of communication, but one type that is particularly important for businesses is advertising. Between its brand legacy, its knowledgeable team and its commitment to the entire athletic experience, Nike proves it knows athletes. Nike uses a variety of methods to communicate with its employees. In addressing the other interests of this stakeholder group, Nike Inc. maintains a number of policies and standards to ensure compliance in all of its business areas. Nike has the following stakeholders, arranged according to the firm's prioritization: Stakeholders Stakeholders 1. Nike uses a number of marketing tactics to communicate its brand, including advertising, branding, and public relations. Nike held its first formal stakeholder forum in February 2004. Carroll, A. **Nike released its first Corporate Responsibility Report on October 9, 2001 in conjunction with GRI guidelines and has a comprehensive corporate responsibility website. Nike's main focus are the athletes and not just the athletes but everyone connected with sports. Nike collects feedback from suppliers through Better Buying, an anonymous rating initiative that collects supplier feedback on purchasing practices. Werther Jr., W. B., & Chandler, D. (2010). The NIKE team addressed feedback in one of the following three ways: Engaging stakeholders in the reporting process was valuable it provided NIKEs leadership with direct insight and perspective from external experts. The goal is to generate both short term financial returns and build long-term brand and shareholder value (Schultz, 2004). Nike collects feedback from suppliers through Better Buying, an anonymous rating initiative that collects supplier feedback on purchasing practices. With a global presence, they can create ads that people around the world can identify with, helping Nike communicate their values and mission to contribute to a better world. Nike communicates its progress to its stakeholders, through its website nikeresponsibility.com backgrounders, quarterly electronic newsletters, the 2001 Corporate Responsibility Report and Community Investment Report 2002-2003. Note: Responsibility for the content of participants" public communication related to the Ten Principles of the UN Global Compact and their implementation lies with participants themselves and not with the UN Global Compact. See more at: http://www.nikeresponsibility.com/report/content/chapter/stakeholder-engagement-reporting#sthash.wUqBHiaN.dpuf. Required fields are marked *. While one main reason of its popularity is its innovative products, another is its marketing. In time, it can become increasingly difficult to: Manage all stakeholder communication channels. Market Development:One of Nikes supporting intensive growth strategies is market development. Copyright 2003-2022 | Academic Master is a trading name of HighEnd Technologies LTD. Every essay on this website is copyrighted by Academic Master. Additional details can be found at nikeinc.com. The company began mass mediated advertising in 1982 and continuously redevised and refined its marketing communication strategies. Its tweets are short, punchy, compelling, and nearly always include the hashtag #justdoit or other community-building hashtags like #nikewomen. Consumers tend to buy more of a product that has a positive impact on communities. For example, Nike Fuel enables customers to record their progress through the use of Nike Plus devices. Nike implemented this intensive strategy in its early years, such as when it introduced apparel and sports equipment to its product mix. Your team and your project sponsor and their close team/contacts need regular weekly project communication and updates and as needed updates when you or they deem them necessary. This has helped to attract and retain top talent, which is essential for a company like Nike. Nike has a very good reputation for treating its employees well and providing them with good working conditions. Based on Nike's current use of social media, Nike is relatively active on Twitter. Consult stakeholders in dealing with implementation dilemmas and challenges and invite them to take active part in reviewing performance. 1970s: They created their fist products brochures, ads and marketing tools. Belch a& Belch (2012) suggest that marketing experts of a company should evaluate and monitor the activities of integrated marketing communication process and execution in order to determine the effective factors and areas of improvement through the process (Belch & Belch, 2012). The company uses its social media accounts to connect directly with their customers and they are one of the most active corporations online in this respect. The companys corporate social responsibility strategy is also satisfactory in terms of giving second priority to communities, considering the variety of policies and programs to support these stakeholders. For example, the company integrates cutting-edge designs for its shoes. Nike touches the new customers through social media campaigns and engages the existing customers as well. This is the story of how Nike turned itself into a globe-spanning fashion brand. Nike actively communicates with its stakeholders and encourages their feedback. 5 How do you build relationships with stakeholders? **Nike was part of the public release of the Fair Labor Associations first monitoring report, and the FLA annual report. How does Nike connect with its consumers? Ditlev-Simonsen, C. D., & Wenstop, F. (2013). In order to communicate their message, Nike adopts a tone of voice that is both informative and persuasive. Phil used to sell the shoes personally carrying products in his car whereas Bill keep testing the products with the runners of the University of Oregon in order to determine the best quality of shoes. Nike Inc. addresses these interests through the Nike Foundation, which serves as the companys primary means of supporting community development initiatives. Nike also has a blog called NikeVoice which is a blog for employees to share their thoughts and experiences. That information can be found at www.theglobalalliance.org. Stakeholder relations is the practice of forging mutually beneficial connections with third-party groups and individuals that have a stake in common interest. Nike communicates its progress to its stakeholders, through its website nikeresponsibility.com backgrounders, quarterly electronic newsletters, the 2001 Corporate Responsibility Report and Community Investment Report 2002-2003. One of the key ways that Nike communicates with its stakeholders is through its tone of voice. Integrated marketing communication will be changing and evolving ever as it does though it is not lasting forever (Schultz, 2004). Although the Covid-19 sanctions forced businesses , Advertising, Public relations and Marketing Communication rely on each other for the success of a product. Academic Master is a writing company that provides free essays to the students all over the World. These pop-ups collect customer data and are used to engage with present and possible customers regularly. Click to read more on it. The interests of these stakeholders include support for the development of communities. NIKE and Forum jointly created a list of relevant stakeholders who possess a range of the following attributes: The participation of listed stakeholders and organizations is not an indication of support, recommendation or endorsement of any information, persons or organizations in the report. Organizational Structure Characteristics (Analysis), Nike's Mission Statement & Vision Statement (An Analysis), Home Depots Stakeholders: A CSR Analysis, Microsofts Corporate Social Responsibility Strategy & Stakeholders (An Analysis), Unilevers Corporate Social Responsibility & Stakeholders, Intels Corporate Social Responsibility Strategy & Stakeholders, General Electric Companys (GE) Corporate Social Responsibility (CSR) Strategy and Stakeholders - Analysis, United Nations Foundation Nike Foundation, Stakeholder Analysis & Corporate Social Responsibility (CSR). The Latest Innovations That Are Driving The Vehicle Industry Forward. Integrated Marketing Communication. Nike has 73,300 employees worldwide. Marketing communication strategy is a comprehensive plan that contains the specific elements that intend to address a company's intended marketing communication mix and how they will be used to achieve the set goals. The company also has a variety of Community Impact corporate social responsibility programs, such as the Active Schools & Youth Sports program, which donates funds and sports shoes, apparel and equipment to promote physical activity among students. Branding is another important part of Nikes marketing strategy. The key is. Nike addresses these interests through corporate social responsibility policies and programs that focus on internal leadership development, talent management through coaching and mentoring, and team building. We will write a custom Report on Coca-Cola Business Communication in Practice specifically for you. 2. By creating a two-way conversation with consumers, Nike gains actionable insight into their needs and as the results show, they dont just listen, they react. Your email address will not be published. At Nike emotion is used in everyday work to remain competitive in the workplace. Nike actively communicates with its stakeholders and encourages their feedback. Tactics are the specific details of the strategies and actions are the specific details of tactics (Kourdi 2009 45-60). Nike has to communicate in its website in order to inform the consumers and the employees. Interest Groups. The brand replied the most on Tuesdays and Saturdays. How does Nike build relationships with customers? Besides Instagram, Nike communicate with their customers through email subscriptions. It is a maker of sports apparel and shoes. Nikes tone of voice when communicating with employees is usually informative. Customers and consumers are the lifeblood of any business and Nike is no exception. Copyright 2023, Sneakersopedia - All Rights Reserved. Capturing an international audience with their ads and campaigns, Nike can better communicate their messages that go beyond the sports world. If online, you can opt to use video presentation software. Understandably, the community development interest is addressed through Nikes corporate social responsibility programs for community development. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); What type of communication does Nike use? Nike has to communicate in its website in order to inform the consumers and the employees. The Swooshs stable of designersVirgil Abloh, Riccardo Tisci, Kim Jones, Rei Kawakuborivals that of any luxury conglomerate. Depending on events going on you may receive additional tops. Taking a somewhat limited conceptualization of engagement, Du, Bhattacharya, and Sen (2010) also suggest that creating stakeholder awareness of, and managing stakeholder perceptions towards an . Nike has been very successful in this regard, delivering strong financial performance over the years. Compensation is an important aspect of employee happiness and at Nike, 69% of employees feel they are paid fairly, 78% are satisfied with their benefits, and 72% are satisfied with their stock/equity. Advertising is the process of communicating with potential and current customers to promote a product or service. Nike Inc. maintains corporate social responsibility (CSR) programs to address the interests of its major stakeholder groups. Thus each employee can identify himself as a part of the team that is called Nike Inc Nike is endorsed by athletes who have a reputation for winning and a passion for the sport they play. This branding helps to differentiate Nike from its competitors and encourages people to buy its products. Save my name, email, and website in this browser for the next time I comment. We use cookies to ensure that we give you the best experience on our website. It would benefit the local economy and resolve conflict with employees , customers and suppliers. Certified Akashic Record Reader & Life Coach. The company is among the firsts to assess the potential of engaging the customers through viral video channel Youtube. For starters, according to Matheson, Nike is looking for people who are curious, flexible, resilient, self-starters with high personal standards, optimistic, and great team players, the brand is also looking for its most help in these fields: retail, digital, brand marketing, and social media marketing. Nike has revised its environmental strategy and this was explained in-depth in the company's annual sustainability report. Currently, Nike is redefining its process for data collection and is developing the tools to help guide both internal and external reporting, including data validation and assurance systems. If they run fast and with comfort, customers will associate happier sentiments with the brand. v Distant competitors NIKE first held a formal multi-stakeholder forum for feedback on reporting in February 2004. It is important for Nike to be able to communicate with its employees effectively in order to ensure that they are all on the same page and working towards the same goal. These methods and tactics have specific purposes in communicating with target customers and maintaining the market dominance of the company's shoes, clothes, accessories, and equipment. Nike also uses social media to communicate with employees. Can I become a seller on Amazon without GST number. The report finds the current business communication strategies provided by the company successful. The strategy should communicate to the customers and the internal employees the mission of the organization and the values it stands for. The companys brand communicates a number of things to the market, including a focus on performance and quality, as well as a commitment to innovation. how does nike communicate with their stakeholders To put it simply, Nike doesn't just sell products. Nike runs several sports training camps each year for young athletes and prepares recaps in the form of videos to use in internal communication.

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