Nike is the leading and yet renowned supplier of athletic apparel and shoes. The company controls close to 33% of the global athletic shoe market (Dogiamis & Vijayashanker,2009).Nike was founded by Bill Power and Phil Knight in 1962 as a Blue Ribbon Support and then was later on renamed to Nike in the year 1968 (Patrow,2003).The company supplies very high quality product in close to 100 countries with major markets being located in the U.S,U,K, Asia Pacific as well as in the Americas. The company has managed to attain its lead and legendary position via the application of innovative and yet attractive product design which is backed by quality production as well as well crafted marketing strategies.
The Nike Air stands as a mark of revolution in the history of footwear. Trough research, innovation Nike is consider as one of the leaders and trend setter in today’s world for the athlete or we can say in sports products. The history is briefed as Frank Rudy an engineer of aerospace come across an idea of cushioning system with air infused and he approached the Nike and share the idea, resultantly Nike Air Tailwind was introduced in 1979. Later, the first shoe for the basketball sport was also introduced named as Nike Air Force 1 that was also equipped with Nike Air technology and featured with Air technology. Further, brand become the word of mouth of money peoples with the slogan “light on your feet”.
Firms undertake a situational analysis and planning process to identify and justify appropriate marketing opportunities for growth. This report provides an introduction to Nike with a background to the Company, its history and its product.
Around the world, people of all cultures are increasing their participation in fitness activities. All are motivated by the common desire for athletic and personal excellence. Nike, a simple sneaker company to many newspaper readers is transforming into an international consumer products company. The payoff from overcoming all these challenges can be seen in our 1991 international growth of 80 percent to $862 million in revenues. Nike is the famous franchises in the world that sells sportwear for all ages.nike is also one of the major manufacturers of sport equipment but it is the most famous for their athletic shoes and apparel.
Since its creation, Nike has proven itself as a popular brand and it has created niches by selling products such as footwear, apparels and various types of sports equipment. This paper will attempt to trace the product development of Nike shoes from its origins in conception and design to the manufacturing and production process located in contract factories in developing countries to advertising and marketing of Nike as a cultural commodity and finally, the retailing of the footwear around the world.
Nike’s main strategy revolves around product branding. Their brand compromises of a swoosh logo which is accompanied by a message of “just do it”. The logo was imprinted on all of their products with the message developed to express the individuality of their target group. The branding was further promoted by Nike’s relentless approach on the quality of their product as demonstrated when considering overseas business opportunities, quality must not be compromised in order to do so. This ensures consumer satisfaction and loyalty towards Nike.
The altered shoes have different qualities, shortcomings, opportunities, and dangers available. One of its qualities is embedded in Nike 's piece of the pie. Questionably, Nike is the main games attire and Footwear Company and the main brand over the globe. Hence, it can effectively advertise the tennis shoes in its current business sector. Nike too has a set up worldwide conveyance channel (chain), solid business sector methodology, a pioneer in innovation and configuration and it is accepted to be a brand that esteems quality that could help in disseminating these shoes. Moreover, the organization has a solid monetary status, basic in improving advancement and improvement of these tennis shoes. In any case, its significant shortcoming is that it is very valued pretty much as different results of Nike available.
Nike is one of the most recognizable brands in the world. It is not only renown for its high quality athletic apparel but it is also known as one of the best manufacturers and designers for sporty fashion for both the gym and the streets. Nike is among the sole companies that took note that, “Americans are wearing yoga pants, running gear and basketball shoes not just to-and-from the gym, but also around town.” (Fortune). Active wear is suddenly chic. They noticed that Americans find that athletic gear is comfortable after all. Analysts say that the attention manufacturers are making to fabrics and new colors and styles have helped to broaden the category’s appeal. “Active wear is booming, with sales growth exceeding that of the apparel market as a whole, consumers are drawn to its comfort and versatility, and the fact that it still makes a fashion statement.” (NPD analyst Marshal Cohen). Part of Nike’s success in 2015 is because the company altered its marketing strategy, it moved away from a single-slogan approach in favor of a targeted advertising campaign. The company’s social media and Internet based marketing practices and the Nike ID personalization website that allows customers to design their own footwear is one of the few features that makes Nike stand out from the rest. All of this information is provided on ‘Nike Digital Sport’, a part of the company that makes personal performance tracking devices and software that allows the company to obtain user data.
Nike, Inc. is the most famous sports shoes company in the world. The company was founded in the year 1964 by Bill Bowerman and Phil Knight (Foster, Coraiola, & Suddaby,2016).The company opened its first retail store in the year 1962. The company is famous for manufacturing high quality sports shoes which can enhance an athlete’s performance. Apart from that, the company also manufactures sports apparels like jerseys, shorts etc. Nike,Inc. has its stores in around 160 countries across the globe. It is a multinational company that employs around 45000 people across 6 continents around the world.
Athletic shoes have become a basic part just about everyone 's wardrobes. This is due to both the increasing numbers of people exercising and the trend towards casual apparel. One of the most popular brands in the world is Nike. Competition is strong at all levels within the industry, especially among the leaders. However, Nike has successfully differentiated from these competitors. This essay will concentrate on what makes Nike shoes standing out from the rest.
Nike Inc. was established in 1968. Nike manufactures athletic products that range from footwear, apparel, equipment, and accessories. Nike is known by its logo “swoosh” and motto “Just do it”, which are both displayed on all of its products and tag lines. Nike has achieved great success over the years by establishing consistent brand awareness in consumers’ minds through advanced marketing and advertising techniques. Nike is also seen as the leader in the athletic footwear industry due to its use of major celebrity endorsements. Nike acquired athletic and celebrity endorsements from Tiger Woods, Michael Jordan, Venus and Serena Williams, Lance Armstrong, and many others. Nike continues to be the Industry’s leader through many strong acquisitions over the years. In April of 2002, Nike acquired Hurley International, action sports apparel distributor and in 2003, it acquired one of its competitors, Converse.
Quality is Nike’s most important concern when it comes to which competitive priority they value the most. In its most basic definition, quality is that a product or service is as advertised; if a company strives to reach a certain standard, the product/service they are providing must be as perfect as possible. If you access the clothing industry and think of top quality products, Nike will most likely be one of the first names to pop into your head. Along with apparel, watching and sport accessories, Nike is most well known for their sneakers. With countless athlete endorsements from the likes of Neymar Jr. and Rory McIlroy, Nike struck the jackpot when they teamed up with Michael Jordan; releasing the Jordan brandline. Known for its comfortable feel and stylish but simplistic appearance, the brand has boomed in today’s market; giving both Nike and Jordan loads of profit. Nike is consistent with their products, providing products that are accessible, sleek and sturdy. Nike strives to ensure that there is little error when developing and manufacturing their products - to make sure the product meets their customer demands. Consumers know that Nike produces high quality products with the best materials around; which is why those who try Nike, usually stick with the company.
Strong brand recognition – In today’s sports industry Nike’s is one of the most recognizable and famous brands. Nike’s “swoosh” logo alone has generated millions of dollars and can be seen as a huge source of income for the company itself. Over the past years Nike has built a widely known sporting company through partnerships with many prominent figures whom excel in the sporting world. The collaboration with these figures has impacted the company not only through increased income, but also for better identification.
Nike was founded in 1964 by Phil Knight and Bill Bowerman as a small distributor for a Japanese shoemaker, and it has since then become the world’s largest supplier of athletic footwear and apparel. Nike currently has 70,700 employees generating a worldwide revenue of $32.38 billion in 2016. Nike’s success stems from their competitive advantage in their corporate and business strategies, resources and capabilities, and their value chain.
Diversification is one of the key components of corporate level strategy. It not only helps companies to spread their risks but also capitalizes their strengths. One of the epitomes of applying diversification strategy and being successful in diversification is Nike, Inc. This paper discusses Nike’s diversification strategies and how the company succeeds in using it.