Pricing
From Our Research
Nike uses technology to see what their competitors’ prices are and can adjust their prices if needed. Also, they use technology to calculate the their sales for products and if a certain product isn’t selling as much as predicted the price will be lowered in order to increase their sales.
Some of Nike’s specific applications of technology in pricing in Nike Air. Nike Air is described as pressurized gas encapsulated in polyurethane. Nike also has the fuelband. The Nike fuelband is basically a wristband that you can hook up to your iphone or ipad. The fuelband tracks your physical activity and allows you to track your steps and many other things.
Nike benefits from automating the pricing process because they have so many products that they can price their products and based on how that product sells they can vary the price in ways that will benefit their company.
Some of the risks associated with automating the pricing process is what kind of product you are pricing. Nike prices products based on how well they are going to do. Some of their best selling products are the ones that are priced the highest and this is because people want the latest and greatest things and they will pay for them because they know Nike does the best job in pricing their products for what they're actually worth.
Nike believes in putting their energy into the areas that they have the most impact. Nike’s overall goal is to increase the performance of the footwear, clothing, and also all of their equipment. They believe that they are on track to meet manufacturing commitments and they believe that they are the company of the future.
From Our Interview
"We are now working to implement an enhanced vision of lean manufacturing as part of a portfolio of initiatives we’re calling the “manufacturing revolution.” This transformation is a response to significant trends in our supply chain, including advancements in technology and engineering, and ongoing volatility in labor and materials pricing. It aims to redefine both how our products are made and what they are made of. It includes innovations in advanced technology, as well as manufacturing excellence and modernization."
Nike uses technology to see what their competitors’ prices are and can adjust their prices if needed. Also, they use technology to calculate the their sales for products and if a certain product isn’t selling as much as predicted the price will be lowered in order to increase their sales.
Some of Nike’s specific applications of technology in pricing in Nike Air. Nike Air is described as pressurized gas encapsulated in polyurethane. Nike also has the fuelband. The Nike fuelband is basically a wristband that you can hook up to your iphone or ipad. The fuelband tracks your physical activity and allows you to track your steps and many other things.
Nike benefits from automating the pricing process because they have so many products that they can price their products and based on how that product sells they can vary the price in ways that will benefit their company.
Some of the risks associated with automating the pricing process is what kind of product you are pricing. Nike prices products based on how well they are going to do. Some of their best selling products are the ones that are priced the highest and this is because people want the latest and greatest things and they will pay for them because they know Nike does the best job in pricing their products for what they're actually worth.
Nike believes in putting their energy into the areas that they have the most impact. Nike’s overall goal is to increase the performance of the footwear, clothing, and also all of their equipment. They believe that they are on track to meet manufacturing commitments and they believe that they are the company of the future.
From Our Interview
"We are now working to implement an enhanced vision of lean manufacturing as part of a portfolio of initiatives we’re calling the “manufacturing revolution.” This transformation is a response to significant trends in our supply chain, including advancements in technology and engineering, and ongoing volatility in labor and materials pricing. It aims to redefine both how our products are made and what they are made of. It includes innovations in advanced technology, as well as manufacturing excellence and modernization."