1.

Brief on Nike’s Pricing Strategy

Nike implements its pricing strategy based on the product’s understanding and
determining which price point will be best for their products.
Nike was able to raise its price range while other U.S. apparel industries dropped
their prices and offered heavy promotional discounts.
In 2014, Nike implemented its new pricing strategy after determining from a market
analysis that its customers appreciated the value that the brand provided.
The company owners and employees know that these prices will not only reflect the
quality of their company’s products but also the image which will be portrayed by the
consumers who wear the Nike logo.
Once Nike develops its exclusive products, it becomes recognizable to consumers
in the market place.
Nike’s premium pricing strategy drives its perceived value to a higher level
especially with the limited editions of the Air Jordan’s. 

2. Promotional and Communicational Strategy of Nike.

Nike uses the social media platform effectively to get in touch with its millions of
users and to attract new target markets around the world.
Nike’s one of the strongest strategies is to advertise its products for promoting
branding to potential customers.
Nike has made many world-class ads which created lots of attention around the
globe. Nike follows different strategies to advertise its products such as endorsing
megastars & celebrities and partnering with giant companies to increase the
markets.
Nike endorsed the likes of Cristiano Ronaldo, Maria Sharapova, and Roger
Federer in a TV commercial to advertise Nike Free, called Power to your feet.
 Nike uses public relations as a strategy to promote its branding and reach out to
its potential customers.
The company’s management is keen to maintain a good relationship with the
customers and as well as with the market.
This company shows a friendly & approachable attitude towards the customers
and does not want to break the relationship with them.
Nike has categorized the public relations section to its dedicated customer
service channel.