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Nike Swot Analysis

1988 Words8 Pages

NIKE

Nike’s co-founder, Phil Knight, started off selling shoes from the trunk of his car at track meets. Nike was originally named “Blue Ribbon Sports”. Nike founder, Bill Bowerman, used his wife’s waffle iron to create the soles of some of the first Nike shoes. The name Nike is actually the Greek goddess of victory for which the company was renamed after. NIKE’S MARKETING STRATEGY (THE 8 P’s)

PRODUCT: Nike offers tangible products that meet the needs of all different athletes by providing footwear and athletic apparel in each different sport and more. Nike focuses on having very good design. Nike believes that by creating products and services that really delight the consumers will lead them to success. Their first products were …show more content…

One strength of Nike is that it has a long history of product innovation. And improves there products continuously and even collaborates with other companies to create new products such as the Nike+ sensor with is to be used with the Nike+ iPod/iPhone app. In addition to product innovation, Nike has a portfolio of endorsements from top celebrity athletes. Whereas, the company can use its “pyramid of influence” to coax brand loyalty. Another strength of the company is in the implementation of mass customization of some of its products. Nike has introduced NikeID, a way for customers to customize and design there own shoes. Furthermore Nike has production flexibility. As it does not own any of its factories because all production is outsourced. So production of Nike products can be moved any where around the world to the most competitive factories. The company has a great supply infrastructure and has chains of retail stores where you can buy only Nike products. Finally, the last strength of Nike is its strong brand image, mostly due to the use of many creative, award winning and innovative brand …show more content…

One weakness of Nike is that it has high advertising costs from its endorsements. The “pyramid of influence” is expensive to obtain and as competitors bid up the prices of sports celebrity sponsorship the price of endorsing a sports star will inevitably go up. Another weakness of the company is that the profits of the company are mostly from its footwear sales compared to rest of Nike’s products. As well as the high prices compared to its competitors. Nike positions its self as a premium footwear product and relies heavily on that positioning. Another more image damaging weakness of Nike are the accusations of exploiting workers in sweatshops to produce its products. These allegation have continued since the 70’s. This black mark on the companies image has not been fully resolved because of the more recent accusations of poor working conditions in its subcontracted

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