presentation

The business to be discussed in this case is a Nike franchising in barcelona. The business offers’ a wide range of Nike products and services, including Nike shoes, apparel, and accessories. The target market is sports enthusiasts of all ages. The business face the challenge of being a new business and having to establish itself in a competitive market. In order to be successful, the business must have a clear understanding of the target market and what they are looking for in a Nike franchising (Caetano, 2019). The business must also have a well-organized and efficient operations plan to ensure that customers are always satisfied. Furthermore, there is need of have a strong financial plan to provide the necessary funding for the business.

Nike is a well-known and trusted brand name in the world of sports. As such, I feel that the Nike franchising will be able to benefit from this trust and reputation. In order to maximize the chances of success, the business must focus on providing quality products and services to its customers. The organization must also make sure that its operations are always running smoothly and efficiently.

The business is a new franchise. It is still in the process of establishing itself and together with the brand. This can be a challenge, but it also gives the company an opportunity to be creative and innovative in its marketing and operations (Bretas, and Alon, 2021). As a new business, the owners have to work hard to build up a good reputation and gain a loyal customer base. For example, the business can use unique marketing strategies to attract attention to the store, and also can develop efficient operations plans to ensure customer satisfaction. The business is also competing against established businesses who may have more resources and name recognition. However, the commitment of providing quality products and services will help us to succeed in the long run. Additionally, the business provides benefits to the community by offering quality Nike products and services.

Franchising is a commercial model in which one company (the franchisor) grants another company (the franchisee) the right to use its trademark and operating system in exchange for a royalty payment and usually an initial franchise fee. The business to be discussed in this case is a Nike franchising in barcelona. The business offers’ a wide range of Nike products and services, including Nike shoes, apparel, and accessories. As a new business, the owners have to work hard to build up a good reputation and gain a loyal customer base. The aim of this paper is to provide a business plan for the new franchise. The paper will cover the target markets, the main goals of the business, resources required to the run the business, management team, operations plan, marketing approaches, financial plans pricing strategy as well as the pricing strategy.

A company's target market consists of the specific demographic it believes will most benefit from its goods or services. Consumers in this subset are typically distinct from the general public in terms of demographics, buying habits, and personal qualities (Camilleri, 2018). Identifying a certain demographic of consumers who are most likely to buy, utilize, and advocate for your product is essential to the success of your business. In the Nike franchising business, the target market is sports enthusiasts of all ages. This includes people who are passionate about sports and participate in them regularly, as well as those who simply enjoy watching sports. We believe that there is a large and growing market for Nike products and services in Barcelona, and we are confident that we can capture a significant portion of this market.

The main goal of the business is to be leading Nike franchising in Barcelona. In order to do this the company has three main goals:

1. To build a strong customer base by providing quality products and services that meet the needs of the target market. This includes developing a comprehensive marketing strategy that effectively promotes the brand and drives sales.

2. To develop and implement efficient and effective operations that maximize customer satisfaction. This means creating an efficient system for stocking inventory, processing orders, and delivering products to customers in a timely manner.

3. To generate profits that will allow us to reinvest in the business and continue to grow. This includes maintaining a healthy financial margin and using profits to reinvest in the franchise and expand its operations.

In order to operate the Nike franchising in Barcelona the business will need a certain amount of resources. These resources include an initial investment for franchising fees and store setup, as well as ongoing costs for inventory and staff. Initial investment: In order to become a Nike franchisee, one must first make an initial investment (Farooq et al., 2020). This investment goes towards the franchising fees, which are paid to Nike in order to use their brand and intellectual property. It also goes towards setting up the store, which includes costs such as leasehold improvements, fixtures, and signage. Ongoing costs: There are also ongoing costs associated with operating a Nike franchising. These include costs for inventory, staff, and marketing.

Inventory: Nike products must be purchased from Nike in order to be sold in your store. Nike offers a wide range of products, including shoes, apparel, and accessories. Depending on the products you choose to sell, your inventory costs will vary. Staff: The business will also need to hire staff to work in the store (Caetano, 2019). These employees will be responsible for tasks such as sales, customer service, and product knowledge. Depending on the size of the store and the number of employees the business need, the staffing costs will vary. Marketing: Marketing is important for any business, but it is especially important for a new business like ours. The business needs to let potential customers know that it exist and that it offers quality Nike products and services. There are many ways to market a business, and the costs will vary depending on the methods chosen.

The management team for the Nike franchising in Barcelona will be experienced and well-qualified. The franchisee has over 15 years of experience in the Nike franchising industry, and the team will also include a marketing manager and an operations manager. The management team will be a key strength of the business, and that they will help establish business as a leading Nike franchising in Barcelona. The franchisee has a proven track record in the Nike franchising industry, and he will be responsible for overall management of the franchise. He has a deep understanding of the Nike brand and operations, and he is well-connected with Nike's global franchising network. He will be a valuable asset in helping us to establish our franchise in Barcelona.

The marketing manager will be responsible for developing and executing our marketing strategy. She will have a deep understanding of the Barcelona market and consumer behavior, and she will be able to develop creative and effective marketing campaigns that will generate interest and awareness for our franchise. The operations manager will be responsible for overseeing all day-to-day operations of the franchise. He will ensure that our store is operated efficiently and effectively, and that our customers are always satisfied with our products and services (Elango, 2019). He will also be responsible for training and managing our staff. The operations plan will be designed to ensure that the business is able to meet the demands of customers. The business will have strict quality control procedures in place to ensure that products meet the high standards of its customers. Additionally, the business will implement strategies to ensure that the store is always fully stocked with the latest products.

The business offers a wide variety of Nike’s products, including apparel, footwear, and equipment for a variety of sports. Nike's apparel offerings include a variety of stylish and functional designs for both men and women. Nike's footwear products are designed to provide superior support and comfort while helping athletes to perform at their best. Nike's equipment products are engineered to meet the specific needs of different sports, and include everything from golf clubs to tennis racquets. The products will be backed by a 100% satisfaction guarantee, and the company will offer a wide range of customer service options to ensure that its customers are always satisfied.

The presence of the business in Barcelona will bring a number of benefits to the community. Firstly, the franchise will provide employment opportunities for residents. The investment will create jobs for locals, both in its own stores and in supporting businesses. This will help to reduce unemployment and boost the local economy. Additionally, the business will help to raise the profile of Barcelona as a destination for sport and leisure. This will attract more tourists and visitors to the city, resulting in an increase in revenue for businesses. Finally, Nike franchise will be a responsible corporate citizen, supporting local causes and charities. This will help to make Barcelona a more desirable place to live and work, and will benefit the community as a whole.

The financial plan is designed to ensure that the business is able to achieve its goals. We have secured the necessary funding to cover the costs of our retail space, our inventory, our staff, and our marketing initiatives. We are confident that we will generate significant revenue and profits within our first year of operation. The funds will be spent as shown below:

The suggested pricing strategy for Nike Franchising is the strategy known as Bowman´s clock. Bowman's Clock is a pricing strategy that helps businesses to find the right price for their products or services. It is based on the idea that there are four main pricing strategies that businesses can use, and that each one is appropriate for different stages in the product life cycle. The four pricing strategies are: Skimming, Penetration, Loss leader and price discrimination. Since this is a new business they should adopt penetration pricing. This involves charging a low price for a product or service in order to attract customers and grow market share. It is typically used when a product or service is first launched.

As a result, the business will reduce the price in an effort to increase their market share through the use of discounted pricing (Echchakoui, 2018). Nevertheless, the business must be prepared for the possibility of severe retribution from other companies in the form of changing prices. In addition to cutting prices, the business will implement a technique known as cost leadership in an effort to generate economies of scale. The plan will be aligned with efficient distribution channels, the most recent technological advancements to optimize supply chains, and aggressive negotiation with suppliers in order to increase total income.

A marketing strategy is a comprehensive plan that addresses all aspects of marketing, including how a firm promotes itself in the marketplace, the creativity, the business associates, the media outreach, the promotion mix, the channels, and the techniques (Deepak, and Jeyakumar, 2019). The Nike franchise in Barcelona will use a variety of marketing strategies to promote its products and increase sales. One of the main marketing strategies will be to use social media to reach a wider audience. The franchise will use popular social media platforms such as Facebook, Twitter, and Instagram. One of the main ways social media marketing will be used is to post pictures and videos of the products. This will help to increase brand awareness and show potential customers what the products look like. In addition, special offers and discounts can be posted on social media to attract customers. The Nike franchise will also collaborate with local bloggers and influencers to help promote the products.

Another marketing strategy that will be used is to participate in local events. One way the franchise can participate in local events is by setting up a booth. For example, the franchise can set up a booth at a marathon or sporting event to sell products and increase brand awareness (Ferrell, Hartline, and Hochstein, 2021). The Nike franchise can also sponsor local teams and athletes to further increase its visibility in the community. The Nike franchise in Barcelona will use traditional marketing methods such as print and television advertising to reach its target market. Print ads can be placed in local newspapers and magazines, reaching athletes and Nike fans who are interested in the products. The ads can highlight the latest products, special offers, and discounts. Television commercials can be aired on local channels, reaching a wide audience.

The commercials can showcase the products in action, as well as testimonials from satisfied customers. In addition, the Nike franchise will use billboards and other forms of outdoor advertising to increase its visibility. Billboards can be placed in high-traffic areas, such as near sports stadiums or along major highways. Finally, the franchise will use public relations to generate positive media coverage. The franchise can hold events and press conferences to promote its products and services. The franchise can also work with local and national media outlets to place positive stories about the business.

REFERENCES

Bretas, V.P. and Alon, I., 2021. Franchising research on emerging markets: Bibliometric and content analyses.  Journal of Business Research,  133, pp.51-65.

Caetano, N.M.R.P.L., 2019.  Nike marketing plan: the launch of Nike Academy in Portugal (Doctoral dissertation).

Camilleri, M.A., 2018. Market segmentation, targeting and positioning. In  Travel marketing, tourism economics and the airline product (pp. 69-83). Springer, Cham.

Deepak, R.K.A. and Jeyakumar, S., 2019.  Marketing management. Educreation Publishing.

Elango, B., 2019. A bibliometric analysis of franchising research (1988–2017).  The Journal of Entrepreneurship,  28(2), pp.223-249.

Echchakoui, S., 2018. An analytical model that links customer-perceived value and competitive strategies.  Journal of Marketing Analytics,  6(4), pp.138-149.

Farooq, Q., Liu, X., Ahmad, S., Fu, P. and Awan, H.M., 2020. Comparative analysis of entrepreneurship and franchising: CSR and voluntarism perspective.  Voluntas: International Journal of Voluntary and Nonprofit Organizations,  31(3), pp.581-586.

Ferrell, O.C., Hartline, M. and Hochstein, B.W., 2021.  Marketing strategy. Cengage Learning.