Preliminary Findings and Limitations

In producing a new product, I have chosen to work with Nike due to their goals and objectives. Nike works efficiently and eco-consciously. Their goal is to reduce their emissions by 70% as well as use 100% reusable electricity and divert 100% of their waste from landfills (Nike – Protecting the Planet — NIKE, Inc., n.d.). This aligns perfectly with my product design. My product is a pair of affordable sneakers made from recycled materials. Not only does Nike value eliminating waste, they also cater to active lifestyles, creating products meant for durability and comfort. This aligns perfectly with the goal and vision of my new product. Market data shows that consumers are increasingly aware of environmentally conscious products. According to a study, 78% of consumers value a sustainable lifestyle. In another study, 60% of respondents said they would pay more for sustainable packaging (Am et al., 2023b). This shows that consumers do value sustainability and recycled materials.

Some industry trends that have arose through my research include sustainable manufacturing and increased consumer demand for transparency. Most competitors of Nike are also moving towards increasingly more efficient processes and goals. They too are aiming for the least amount of waste and emissions. Many are also using environmentally friendly materials, similar to the recycled materials used for my product. Additionally, consumers are becoming more demanding of transparency from organizations. In recent times, companies have taken political stances, gotten involved in controversies, etc. It is now more important that ever that organizations work with the consumers, keeping them informed along the way. If Nike does not maintain transparency and sustainable manufacturing processes using eco-friendly materials, they will fall short to their competitors (Adidas or Under Armour). They will also receive backlash from consumers and lose customers. Continuing to keep up with these trends will imply continued success for the organization.

My proposed marketing strategy aligns with legal, ethical, and industry standards. The strategy complies with full transparency, being truthful about materials used and the waste management. It also complies with legal standards, such as the FTC Green Guides, which refer to the use of environmental marketing claims, ensuring there is not confusion on what part of the sneakers are sustainably made, as well as what is recyclable (Green Guides, 2021).

Naturally, I have encountered limitations when creating this product marketing proposal. There has been limited data available regarding pricing. Because we are using recycled materials, gathering the actual cost of the process is difficult. This, in turn, makes it difficult to create a general price for the product. There are also few competitors of this specific product, with the same vision and goals, making it more difficult to find a reasonable price. There is also consumer skepticism regarding the durability of the shoes. When shopping, seeing a lower price tag usually implies cheaper quality, which deters a lot of customers. Because these shoes are marketed as both affordable and durable, consumers may raise an eyebrow and question how durable they actually are. These limitations can be explained by market research gaps as luxury and affordability do not typically overlap in the market.