Preliminary Findings and Limitations

Nike Smart Wallet and Purse

As the world increases its technological advancement, Nike created new product (smart wallet and purse) that is something new with either less or no competition in the market, there should be some research for such a new product to identify opportunities and finding out if its worth bringing out the idea and if so, how to do it the best way to appease the customers. As I advance my research from primary research of surveys, interviews and secondary research which includes quantitative and qualitative methods analyzing existing data of targeted audience. These are being done to prioritize customer preferences, wants and needs and to ensure that the final product meets buyer demand in the market since Nike is committed to continuous innovations. Consistently focusing on new technologies and design elements has empowered athletes through the years. One such example is Nike’s Breaking2 campaign of 2016. The project focused on enabling a human to complete a private marathon in two hours. Though it attracted some controversy, this was never attempted before. Eventually, Nike’s innovative shoes proved instrumental in taking the Kenyan runner Eliud Kipchoge across the finish line with a time of 1:59:40 (Team, 2025). My research gauges market demand to fulfill Nike’s objective of making the impossible very possible.

This innovation of smart wallet and purse is a new technology that outpaced the blue tooth device inserted on wallets and purses to assist you find them when misplaced, this product would change the process of how people securely organize their cash, bank cards and IDs. This would be a trailblazer for the new ecteronic wallet or purse that would possibly collapse the market of ordinary wallets and purses especially with its dual function of finding your cell phone when misplaced, according to research and markets the regular wallets market is forecasted to grow by USD 15.18 billion during 2023-2028, accelerating at a CAGR of 11.98% during the forecast period. The report on the wallets market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. (Wallets market 2024-2028, n.d.) this is an indication that an improved electronic one would thrive even better together with Nike’s competitive advantage that lies in its strong brand image and an aggressive growth mindset.

The Statement of Ethics from the American Marketing Association (AMA) requires marketers to promote products and services honestly and in good faith. They’re obliged not to employ deceptive marketing tactics, but instead to provide truthful information about products’ cost, design, delivery, and other features. Additionally, marketers are not to engage in harmful or illegal actions, such as selling dangerous products. (ethics in marketing, 2023). My Marketing strategies aligns with industry standards since its advertisement and research methods are true and conforms to the regulations of federal trade commission and state laws, prior to using the devise, one need to acknowledge and accept the privacy statement which is self-explanatory on how to protect your information, product warranty and health implications before one can use the product without making misleading claims. Ethically, Nike is committed to protecting user data through encryption to avoid techniques considered to be manipulative to audiences.

There is a little limitations in creating marketing proposal for this smart device but it has shaped the process to a designated path that is helping to navigate to the right direction, the eligible sampling units or sampling frames becomes harder to execute due to ethical and legality involved in obtaining databases which includes the exact potential population elements, specialized commercial companies would not sell information of those people with memory loss conditions due to laws refraining from sharing individual health conditions. unmet consumer need that has not been addressed by current market offerings is making it difficult for consumers to directly embrace the product, these audience are used to seeing regular wallets and purses in market without anything electronic with such features example, people want to see big brand names like Louis Vuitton, Chanel or Gucci anything electronic is different in the market and needs time. Nike’s mission is to bring inspiration and innovation to every athlete, this does not also directly resonate with the audience because everyday shoppers think most of Nike’s products are sport related making it not attracting to them which is why marketing proposal of the product becomes difficult without conflicting mission statement of Nike.

Ethics in marketing, (2023, May 24). Santa Clara Leavey school of business. https://onlinedegrees.scu.edu/media/blog/ethics-in-marketing

Team. E. (2025, December 3).  Nike Mission and vision statement analysis. EdrawMind. https://edrawmind.wondershare.com/strategy-planning/nike-mission-and-vision-statement-analysis.html

Wallets Market 2024-2028, (n.d.). Research and markets the world’s largest market research store.