Punch line: How do you market a pair of $300-plus sneakers? If you’re Nike, you just do it quietly. And by acting like you’re not marketing them at all.
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Excerpted from Advertising Age, “Nike’s $300 Shoe Has the Marketing Built Right In”
Nike found itself in another controversy this week when news surfaced that it’s planning its most-expensive sneaker ever: the uber expensive LeBron X …
As the Swoosh is no stranger to controversy it is poised to combat the backlash through:
- Counterattack: The athletic giant hasn’t said what the final price will be for the shoe but it ripped the $315 price tag quoted by the WSJ as “inaccurate.”
- Word of mouth: Instead of expensive ads, Nike’s relying on word-of-mouth to build anticipation. The result: the buzz from athletes and sneaker blogs has helped score stories in every major media outlet.
- Product placement: Nike had the placement of all placements when millions of NBC TV viewers watched LeBron wear the shoes while leading the U.S. men’s basketball team to the gold medal in London.
One of the strongest selling features for shoes like the LeBron X is that they’re not for everybody.
In fact, Nike will only make 25,000 to 50,000 pairs which is expected to drive up prices and demand.
Edited by JDC
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