How Are Marketing Strategies Effectively Used by Management to Respond to Key Influences on Marketing?

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How are marketing strategies effectively used by management to respond to key influences on marketing? REFER TO STRUCTURE GIVEN BY SASSINE – 1.0 – How branding is used to respond to psychological influences: 2.1 Influence 2.2 Strategy + Response Executive Summary Influences on Marketing – NIKE * Factors influencing customer choice: * Psychological, Sociocultural, Economic and Government: * NIKE is a consumer products company where it markets changing design for sport and casual goods and which affects demand for NIKE’s products. NIKE competes in an international level where it competes with other companies (Reebok, Adidas, Puma, Asics) who also manufactures similar products as NIKE. NIKE’s competitor market activity puts intense competition upon NIKE. NIKE is greatly influenced by its competitor’s marketing expenditures (advertising and endorsements), but overall NIKE’s marketing team regularly research and develop product so they maybe able to compete with its competitors. * If NIKE is unable to predict consumer preferences, they may not be able to develop new products and satisfy consumer needs; therefore NIKE will not be able maintain or increase its profitability and its net profit. Also, NIKE is greatly influenced by seasonality, which could cause fluctuation in NIKE’s production and stocks. The effect of seasonality will have a great effect upon NIKE’s finances and production costs. For instance, on summer a customer orders about 200 shirts for a sporting club but later the customer changes his/her mind because it will be winter in 2 weeks, so therefore the customer cancels the shirt that was ordered.As a result, the production process has been disturbed causing a negative effect on the cost of production, as known as a ‘waste’ or ‘disrupted product’. * Government: Factors NIKE has

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