How do I stop a process from running in terminal? The techniques of integrated communication enabled Nike brand to reach the widespread of marketplace and engage its existing customers through multiple touch points such as concentrated media, social media and sponsorship programs. Product development and differentiation:In this generic strategy, the company minimizes production costs to maximize profitability or reduce selling prices. While one main reason of its popularity is its innovative products, another is its marketing. 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. What type of communication does Nike use? For example, the company integrates cutting-edge designs for its shoes. Forum consolidated the feedback, synthesized it into themes and issue areas, and presented it to the stakeholders during a workshop at NIKE world headquarters. Nike has revised its environmental strategy and this was explained in-depth in the company's annual sustainability report. It tells customers what they want and then makes that value readily available. Internal stakeholders are for example employees, managers and shareholders (owners). It has also been said in the theory of ethics that motivated the individual to perform the procedures, and not vice versa, which is, and the consequences of the actions of individuals to act . The pyramid of corporate social responsibility. For the FY12/13 Stakeholder Review Panel, NIKE engaged Forum for the Future (Forum) to facilitate feedback for this FY12/13 Sustainable Business Performance Summary. In additional to internal monitoring, a selection of our factory base is subject to external, independent, unannounced audits by the Fair Labor Association (FLA). Customers Nike's corporate social responsibility strategy gives top priority to customers as a stakeholder group. Nike has been very successful in this regard, delivering strong financial performance over the years. Employees are the last key stakeholder group for Nike. Content marketing videos are used by internal communications as a strategic step toward building an aware, informed and motivated workforce and in a timely way. Internal branding is a growing use of content marketing videos as a way for brands to communicate any number of topics, news or other information to employees in an engaging way, including relaying the excitement of live consumer events that the vast majority of employees never get a chance to participate in. What Are The Working Conditions Of Nike Factories In Vietnam? There are many different types of communication, but one type that is particularly important for businesses is advertising. Nike tracks its performance according to GRI''s Sustainability Reporting Guidelines and was one of several organizations participating in the GRI''s inauguration in 2002 as an independent organization. NIKEs SB&I team managed the overall reporting process and actively participated in stakeholder engagement as an information provider and listener. This study aims to examine the uniqueness of the corporate communication carried out by Nike when the well-known brand competes to sign a contract with athletes who reach their peak . By doing so brand creates positive image of the products and feelings for it that ultimately result in brand loyalty (Keller, 2008). 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. Additional summaries of FLA audits are posted on the FLA website on an ongoing basis. Required fields are marked *. How does Nike communicate with external stakeholders? How does Nike communicate with their suppliers? 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. Viral marketing is an effective way of interacting with customers. In addition, Nike has been a leader in using sustainable practices in its supply chain. For Nikes business reputation, it was important to be vigilant with communication to external stakeholders to ensure all external contractors and other stakeholders are satisfied. **Nike released its first Corporate Responsibility Report on October 9, 2001 in conjunction with GRI guidelines and has a comprehensive corporate responsibility website. how does nike communicate with their stakeholders. Ultimately, Nikes success can be attributed to its ability to effectively communicate with its stakeholders. Nike implemented this intensive strategy in its early years, such as when it introduced apparel and sports equipment to its product mix. Overall, Nike Inc. is effective in ensuring that its corporate social responsibility programs support the business aim of optimizing revenues from the sale of sports shoes, apparel and equipment worldwide. Nike is a company that has built its success on the backs of its employees. Nikes advertising campaigns are often based around athletes and sporting events. Nike relies heavily on advertisements to promote their products, especially those featuring high-profile athletes and celebrities. One of the most prominent ones among these is the Global Compact. Nike Inc. stakeholders interests are satisfied through the companys corporate social responsibility (CSR) programs. This generic competitive strategy helped the company regain its competitiveness, especially against Adidas. The company has a long history of success, and it owes much of that success to its ability to effectively communicate with its stakeholders. Integrated marketing communication is relatively a newly developed term referring to the fusion of conventional and modern marketing communication techniques. They have a Twitter account called Nike News which posts updates on new products, events, and other news. Integrated Marketing Communication: A Business Process. Nike touches the new customers through social media campaigns and engages the existing customers as well. The project illustrates communication process in Adidas, which is used to group and give out information and managerial data. Nike has built relationships between the company and customer by understanding the customers needs and preferences. Integrated marketing communications together with strategies of brand identity play critical role in the development of an overall brand equity for the company (madhavaram et al., 2005). However, the Nike Foundation is the main arm of the companys corporate social responsibility strategy. This has had a major effect on the way communication takes place in the business because they help to play an important role in the effectiveness of communication. Integrated marketing communication will be changing and evolving ever as it does though it is not lasting forever (Schultz, 2004). In the case of Nike Inc., these stakeholders interests include high quality products and reasonable prices. How does Nike communicate with competitors? It has been said in the theories of ethics that if people want to act ethically, then they need to act according to duty. Meet up with stakeholders who are resistant to change. Some of the activities that demonstrate Nike's integrated marketing communication approach are as below; Ditlev-Simonsen, C. D., & Wenstop, F. (2013). How stakeholders view stakeholders as CSR motivators. They help us prioritize key issues and develop our corporate responsibility policies and approaches. Nike uses a variety of methods to communicate with its employees. As time-consuming as they can be separate face to face meetings are the best way to get the message across stakeholders. Stakeholder relations is the practice of forging mutually beneficial connections with third-party groups and individuals that have a stake in common interest. Innovative brands, like Nike, are embracing it with a fervor. A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. Stake: Revenues and safety. #2 Employees. Newsletters are one of the most important components of Sainsbury's communication strategy. People should be offered a variety of options to communicate with you and provide their input. This type of advertising is designed to resonate with consumers and create a positive association with the Nike brand. How does Nike build relationships with customers? E-mail: This is used . How often will you communicate with stakeholders? Over 3,900 employees from various Nike stores have participated in teaching children to be active and healthy. How does Nike communicate with their customers? The purposes of integrated marketing communications are many-fold, they serve knowledge based product development catering the needs and demands of the customers and also keeping the customers excited about the new launches by the brand. Thus, through such branding initiatives, Nike ensures that all its employees have the ultimate goal of creating a world-class sporting product at the back of their minds all the time. The company influences them, and they influence the company in return. Capturing an international audience with their ads and campaigns, Nike can better communicate their messages that go beyond the sports world. We have continued this type of engagement through a number of meetings some informal and casual, others formal and facilitated by organizations including SustainAbility and Business for Social Responsibility. In this context, NIKE approaches governance with a view to enhancing long-term shareholder value. Such approach basically aims at attaining the required synergy for a successful product communication campaign. The company wants to motivate and inspire these people to be their best selves, and they believe that Nike products can help them do that. Authorizers: governments, trade associations, shareholders and the Executive Board. How to Market Your Business with Webinars? The company has a long history of supporting youth sports programs and giving back to the communities where it operates. However, the companys corporate social responsibility programs target only a number of major stakeholder groups. This is the story of how Nike turned itself into a globe-spanning fashion brand. Stefanos/ Athens Greece, 14565, Nike inspires women to push themselves and reach new heights, Understanding of the apparel and footwear business, Expertise and reputation in sustainability strategy and/or issue areas ranging from water and energy to labor and chemistry, Geographic/nationality, gender and issue diversity, Lindsay Bass, Senior Program Officer, Fresh Water, World Wildlife Fund, Leonardo Bonanni, Founder and CEO, Sourcemap, Garrett Brown*, Coordinator, Maquiladora Health & Safety Support Network, Richard Liroff, Executive Director, Investor Environmental Health Network, Richard Locke, Howard Swearer Director of the Watson Institute for International Studies and Professor of Political Science, Brown University, Eliot Metzger, Senior Associate, World Resources Institute, Andrea Moffat, Vice President, Corporate Program, Ceres, Dara ORourke, Associate Professor UC Berkeley, Co-founder of GoodGuide, Michael L. Reading, Manager, Corporate Partnerships & Bill Bowes Fellow, Environmental Defense Fund, Peter Schulte, Research Associate, Pacific Institute, Matthew Thurston, Manager, Product & Supply Chain Sustainability, REI, Vanessa Timmer, Executive Director, One Earth, Auret van Heerden, CEO, Academy for Sustainable Business, Revamped sections of this report summary and/or the online report with additional content or language and tone changes to better clarify particular report sections, Responded to issues that were raised but could not be changed, Flagged stakeholder input for future consideration in NIKEs sustainability strategy and/or future reports. In time, it can become increasingly difficult to: Manage all stakeholder communication channels. for only $16.05 $11/page. 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. Through integrated marketing communication Nike developed and sustained its brand equity in the market as the leader of the industry. Nikes differentiation generic strategy provides unique products. It should be describing the that how important are measurements and metrics and should represent the strategic view of marketing communication and its objectives. Nikes mission statement is, To bring inspiration and innovation to every athlete in the world. And as co-founder Bill Bowerman once said, If you have a body, you are an athlete.. Nike used internet marketing, email management technologies, and using broadcast and narrowcast communication technologies to create multimedia marketing campaigns. Nike can create interaction with a high amount of customers with minimum expenses. How does Nike use marketing to communicate brands. Nikes corporate social responsibility strategy gives top priority to customers as a stakeholder group. Consumers tend to buy more of a product that has a positive impact on communities. Nike received Ethical Consumer's worst rating for its cotton sourcing policy, because it lacks a clear approach to use of pesticides and herbicides. The company's corporate social responsibility programs target only a number of major stakeholder groups. One of the most prominent ones among these is the Global Compact. What is stakeholder communication? See more at: http://www.nikeresponsibility.com/report/content/chapter/stakeholder-engagement-reporting#sthash.wUqBHiaN.dpuf. Between its brand legacy, its knowledgeable team and its commitment to the entire athletic experience, Nike proves it knows athletes. Nike also uses social media to communicate with employees. Write my paper. For CCPA and GDPR compliance, we do not use personally identifiable information to serve ads in California, the EU, and the EEA. And thats only the beginning. 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