Nike is international heavyweight that has locations in multiple countries and a significant market share of the sports apparel industry. It has already went through the stage of expansion and the company is now seeking to become a more sustainable business. Nike is now attempting to construct a plan that would allow it to achieve zero waste by manufacturing products that can be reused. For Nike, sustainability is linked to its growth and innovation strategy which is why it is trying so hard to make this a global plan. On the other side of the spectrum is Under Armour, which is just beginning to expand.
Nike vs. Adidas Michael Jordan, LeBron James, and Kobe Bryant are known as some of the greatest basketball players to every play the game. They all have something in common, other than being great basketball players, they are also sponsored by Nike. Nike and Adidas are equally popular but one of them is greater. Marketing is extremely important because it leads to selling products and makes Nike’s products more desirable to other companies. In 1978, the name Nike came from the Greek goddess of Victory.
Many people are familiar with the phrase, “Just Do It.” This slogan stands out immediately and a swoosh or check mark comes to mind. Nike is one of the most widely known clothing and shoe companies across the country. During a Nike advertisement there are three rhetorical strategies that are displayed when shown on a commercial. Those three main ideas are pathos, ethos, and logos. Nike draws in peoples’ attention and gets viewers to agree with them and buy their product with the help of these three factors.
There are several factors and safety rules that a non-slip shoes needs to meet. Another weakness would be the cost of research and design to produce this product. Although Nike specializes in high-quality sneakers designed for the sportsperson and while their wide range of designs and innovations cater perfectly to the sporting market, they don’t necessarily meet with the demands of the workplace (Best Slip Resistant Shoes for Chefs and Servers, 2017). Another weakness is identifying the need for this product in a foreign country. Although Nike is a worldwide known brand this product might not be preferred by those internationally and acquiring this information can be long and an expensive process.
Nike’s SWOT Analysis As everyone knows Nike is a company that for many years has remained as one of the best business selling sports shoes and accessories. Their success and development is due to the great strategies that the company put into practice throughout his career. Their CEO, Phil Knight, made it clear that for the success of his company the constant changes and adventures have been one of the risks that have been taken, but in turn has given the opportunity to make errors that ultimately become lessons. In this project I will be analyzing the structure of this business, evaluating the four elements of SWOT analysis. This will allow me to understand their success and their recently problems.
Nike kept working with fashion designers and kept working with the top shoe designing companies to keep people satisfied. (¨Nike: The Fashion of Sports¨). Their success is due to the importance that they give their customers. Nike’s endorsements and the amount of money they have made is evidence that they are doing better than competing brands due to their game changing strategies.People choose to spend millions of dollars on merchandise that are specialized for certain sports,but those people do not play the sport (¨Nike: The Fashion of Sports¨). What helped Nike reach the level that they had reached was the athletes that they chose to endorse and basically hitting the jackpot with those amazing athletes The reason behind that is because of the famous endorsements.”Nike regained the worldwide lead in 1989 after successful marketing campaigns featuring Michael Jordan and Bo Jackson boosted sales.
Before entering an unknown product horizon, the company will investigate its viability in the product category as well as measure its competitive advantage to other companies in the niche. Under Armour’s unique ability to measure these two important factors has allowed it to create a product base which consumers have high loyalty towards. The Under Armour brand has positioned itself in the high quality, high price, and best available in the market, category. It advertises itself as delivering higher customer value and is therefore capable of charging higher prices for their goods. With this Under Armour therefore is unable to use cost leadership as a means of attracting consumers but rather must turn to differentiation of product.
Besides that, 17% of the customers are attracted by its trendy design. 19% of the customers choose Nike because Nike has good quality. In conclusion, there are several reasons that the consumer go for Nike. The reasons are its price, durable, comfortable, good reputation, trendy and good quality. Nike Company should do the marketing research to get the consumer’s opinion to improve their product.
Simply put, Nike’s target market is mainly customers who have more concern for the quality and utility of the product than they have for the price at which the product is being sold. This helps to ensure that pricing never has to be adjusted downwards in attempts to woo in a larger number of customers. For any company to achieve success from the marketing strategies that it has put in place, it has to ensure that its strategy is flexible enough to keep up with the changing times and to also accommodate a large variety of customers. So as to do this, it is imperative that the products being produced by the company be innovative enough to exceed what is being provided by competitors in every possible way. Nike chose to take this into deep consideration and this resulted in it making a few changes on its marketing strategy.
Introduction Nike is a company that manufacturing, designing, developing and selling about the footwear, apparel, equipment, accessories and services. The location of where the Nike headquartered is in Beaverton, Oregon which is in the Portland metropolitan area. It is one of the world 's greatest producers of athletic shoes and apparel and manufacturer of sports equipment. The company was founded in January 25, 1964 which was named as Blue Ribbon sport by then changed the name to Nike in 1978 which was taken from the name of the Greek goddess of victory. It repetition has been known world widely.