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Nike conducts marketing tests by first creating a limited number of the final product. These products are then tested in the market to gauge consumer response. This allows Nike to make any necessary adjustments before mass commercialization. The aim is to ensure that the product aligns with the company's long-term objectives and won't be a waste of resources.
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Once the concept and marketing is approved, Nike conducts business analysis to ensure the product is in line with its long-term objectives. Analysis of expected sales and budget outlook is also conducted here. If a shoe passes this gate, it is finally ready for development and Nike's R&D department goes to work. After development, Nike conducts marketing tests with a limited number of the final products, and if all goes to plan, it's ready for mass commercialization. Most of Nike's time and energy goes into preliminary screening and testing stages to ensure every product is fit for the company and won't be a waste of resources.
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How do you stay innovative and provide the right values for customers? Effective product development allows companies to sustain, grow, and thrive in ...
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