Blog post week commencing 21st October (CSFs)

Last week we distinguished the different TOWS factors of our company and began looking at the critical success factors (CSFs) we found by comparing these points. We all created our own TOWS matrix table in our own time and met on the 22^nd to create a combined table of the best points we found so we can use the information for our final infographic. This is a screenshot of our completed TOWS matrix after discussion.

This week we are focusing on prioritising our CSFs, putting them in order of importance as a group. We thought that e-commerce is critical for the future of Nike and the following CSF is highly important. ‘They can increase revenue by introducing package deals and discounts online, this could draw in more consumers who are looking for cheaper goods’. Nowadays technology is a huge part of society and more and more crucial to big sporting equipment brands like Nike. One of our CSFs included gaining more shareholders; this is less likely to improve competitiveness though.

We have also been gathering additional information about Nike’s target segmentation after learning about it in our Marketing lecture on Tuesday. Farah and Carmel have been using library resources and databases to gather information. Whereas Alex, Abigail and Emily-Anne have been looking at Nike’s website and other sources on the internet.

We have now completed the majority of our research leading to our infographic. In our coming tutorial on the 31^st of October we will be gathering magazines and newspapers to build a concept board on the demographic, geographic, psychographic, geo-demographic and behavioural markets of our brand. This will then help us differentiate between a concept board and an infographic and further our progress.