Case studies are an important learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides with an end goal of formulating a recommendation for the challenges faced by the company.
Select one of the three case studies listed below, which can be found in your textbook. Evaluate the case of your choice, and respond to each of the questions below using both theory and practical managerial thinking as well as supporting research.
Option 1: Nike (pp. 30â€“31)
- How has the industry in which Nike resides been doing over the last 5 years?
- What are the pros, cons, and risks associated with Nikeâ€™s core marketing strategy? How have they managed to develop a strong customer relationship with their target market?
- Who are the top three competitors of Nike, and what are their advantages/disadvantages with respect to their product/service development?
- Looking at the competitors you discussed in question #3, what would you recommend as being the next steps for these competitors and, subsequently, the next steps for Nike to combat these competitors?