Nike is a multinational corporation founded by Phil Knight and Bill Bowerman in 1964. Knight was a middle distance runner from Portland and Bowerman was his track and field coach (Mathew 2016). Nike was previously known as Blue Ribbon Sports and was “operated as a distributor for the Japanese shoemaker Onitsuka Tiger (Asics)” (O’Reilly 2014). Nike’s first employee, Jeff Johnson came up with the company’s name, which was derived from “the Greek goddess of victory, and it’s pronounced ‘ny'-kee’” (O’Reilly 2014). Nike focuses its business on “design, development, marketing and sale of footwear, apparel, and equipment, accessories and services” (Nike Inc. 2016). The athletic footwear is designed mainly for athletic purposes, but many of the products …show more content…
are worn by consumers for casual and leisure purposes. The focus of Nike is on its Nike brand and Jordan brand, and both offer products “in seven categories: running, basketball, football, men's training, women's training, NIKE sportswear, and action sports” (Nike Inc. 2016). The subsidiaries of the company include Converse Inc. and Hurley International LLC. Converse Inc. “designs, markets and distributes casual footwear, apparel and accessories”, while Hurley International LLC, “designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories” (Nike Inc. 2016). Nike was founded with just $1200, but today it employs more than 40,000 employees worldwide, and “its brand alone is valued at nearly $10 billion” (Mathew 2016). The success of Nike mainly comes from the result of constant innovation and how the leaders inspire others to do their best. Phil Knight is the chairman of the board of directors, the co-founder, and he has been a director of Nike since 1968. Before he and Bowerman founded the business, Knight was a certified public accountant and a business administration assistant professor (Nike 2016). He contributed a lot to Nike, and “led Nike from a small partnership founded on a handshake to the world’s largest footwear, apparel, and equipment company” (Nike 2016). Mark Parker, currently the president and CEO of Nike, joined the company as one of the first footwear designers in 1979. Throughout the years that he served at Nike, Parker “brought innovative concepts and engineering expertise into such vital roles as Vice President of Consumer Product Marketing, Vice President of Global Footwear and Co-President of the Nike Brand” (Nike 2016). The leadership styles of a business’s leader are the main reason why a business can succeed. One of the leadership styles of Parker is that he likes to ask his employees questions in order to make them think harder (Lebowitz 2015). The questions that he asks leaves the employees “empowered to find the answers themselves and act on them” (Lebowitz 2015). Parker also does not believe in micromanaging because he does not like the leadership style of telling others what to do and what not to do. The way of how he encouraged his employees are more effective than those who believe in micromanaging. Both Knight and Parker’s leadership styles and the contribution to the company are the major reasons why Nike is one of the best businesses in the world. Nike is a successful business, but it did not become successful in a few days, it actually takes many years and strategies to make Nike a company that it is today.
One of the brand strategies of Nike is that it stays “constant” throughout the years. “Its swoosh logo hasn’t changed, nor has its signature ‘Just Do It’ slogan, but the brand is constantly adjusting its messaging to stay relevant” (Conran 2015). Nike is a well-known brand, and one of the reasons that makes it popular is that people know what the brand is when they see the “swoosh” logo and the “Just Do It” slogan. If Nike changes its logo and slogan all the time, no one will know what the “new” logos and slogans are for, nor will they know that they represent the Nike brand. The logo and slogan of the company stay the same over the years, but Nike is constantly coming up with new ideas to grow and change. Another brand strategy of Nike is its store layout, and it uses this strategy to increase the chance of customers purchasing products from the stores. “If walking into the Nike store, the most enticing element is the highly made and symmetrical layout. Every sport is provided its part that arranged in color and product type” (Branding Strategy of Nike 2013). The Jordan brand of Nike is popular, but it does not only focus on selling the products for one sport, therefore it is important to give customers the chance to look at every product of every sport. In order to increase the chance of customers buying …show more content…
products when they shop, Nike tries to make its stores like mazes. By doing this, it forces the customers to see the products of the entire store before they can find a way out (Branding Strategy of Nike 2013). These brand strategies are the reasons why Nike is a successful business, and without having these, Nike would not be as successful as today. The mission statement of Nike is, “To bring inspiration and innovation to every athlete* in the world” (Nike 2016).
The asterisk in the mission statement means, “If you have a body, you are an athlete” (Nike 2016). From the mission statement, it is not difficult to tell that Nike does not make the “real” athletes its only target market. Nike is an athletic brand, but it wants to reach out to every person in the world, instead of just focusing on the ones who play sports. Although the company wants to reach out to a wider audience, it still works closer with the athletes because the CEO of Nike said, “I always say that as an innovation company, we're privileged to work in the world of sports because our source of inspiration-the athlete-never stops progressing” (Lebowitz 2015). Athletes always want to have better performances, and none of them would want to stop making improvements. Nike is like the athletes because it is a company that strives for better performances and more innovation ideas. The company also let its designers to work with athletes, such as Kobe Bryant to design better products. For example, Nike’s designer Eric Avar and basketball player, Kobe Bryant worked together in 2008 to design the Kobe 9, which it is a better fitting shoe and has lighter weight (Lebowitz 2015). Constantly making improvements and coming up with new ideas are not the only reasons why Nike works with athletes, the publicity of the athletes is the other reason because they can attract
people to buy their products. I am a full time student now, therefore I think that the “Accounting Intern” job at Nike would fit me the best. I have been interested in accounting since I started taking accounting classes in high school, which is why I think this job fits me. I can also gain experiences from working in the accounting environment, and I can also figure out if accounting is really a field that I want to work in in the future. The “Finance Intern” is another job that I think will fit me because I am considering majoring in both accounting and finance. I am interested in accounting, but finance also interests me a lot. From working as a finance intern, I believe that I will gain many experience in the field. Through the internships at Nike, I will have the opportunity to learn many things that I will never have the chance to learn at school, and I will also get the insight in one of today’s most well-known companies.
Nike's marketing strategy is in many ways the reason for the company success. Nike is now positioned as a premium-brand. Nike advertising is one of the most effective emotional branding examples in the advertising marketing in today’s world. Their customer loyalty is off the charts. All credit goes to the Nike brand strategy and masterful application of the emotional branding. That's exactly the kind of shrewd marketing attitude that drove Nike's past success. After perfecting in the art of big branding, Nike has now moved into a world in which its consumers want to be told less and just do more. Which is in a way, is such a big change after all.
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.
But what makes people buy the name brand Nike? They have great advertisement. I love to watch Nike commercials; they appeal to me as an athlete. The commercials show the inner fight in people, breaking records, becoming a stronger person, being the best you, and being the best athlete; you can be overcoming anything. I find their advertisement to be very inspiring and motivational. The Nike slogan ‘Just Do It’ plastered on so many products inspire others to get out and ‘Just Do It,' no hesitation. Nike tries to appeal to you to buy their products by placing their apparel on professional athletic. Everyone knows Lebron James he has many young athletes that look up to him and want to be just like him. What do they see Lebron James wearing? Nike apparel, for the kids that want to be just like him, they want what he has. So they want the Nike look. For me personally, I see Nike products and logos at just about all sporting events, which is a great strategy for the business.
Nike’s goal is to remain unique and different from others in terms of the items offered on the market. Arguably, Nike belongs to a monopolistically competitive market as there only a few organizations with the ability to regulate the amount charged for their product which means they cannot make their prices high as this is likely to make customers move on to other available choices (Nike, Inc., 2012). However, Nike can find a balance between the prices to charge for their products and remaining competitive with other companies in the industry. Nike has formed a distinction between the appearance and performance of their footwear and that of their competitors. Although products are differentiated from other companies, they still influence each other because they are items of the same
Nike was first known as Blue Ribbon Sports, founded by University of Oregon track athlete Philip Knight and his coach Bill Bowerman in 1962. It officially became Nike, Inc. in 1978 while taking its name after the Greek goddess of victory. Mark Parker is the current CEO and Phil Knight still continues to hold a position at the top of the organization, as the company Chairman.
Nike is one of the biggest footwear and apparel manufacturing companies in the word. The company came into existence in 1964 by Bill Boweman and Phil Knight and named it as the Blue Ribbon Sports. The company changed the name to Nike, which is Greek word meaning victory, in 1972 after producing a good brand of shoes that became popular among the athletes (NIKE, Inc., 2001). Since then, the company has been successful, dominating the world market of athletic shoes. The company’s products are sold in more than 170 countries across the world. The company also sponsors various sports events at national and international levels. The company slogan “just do it” is catchy and attract many people tom buying its products. This makes the company to grow continuously due to wide and stable customer base.
The marketing goals are: Increase customer retention, Increase eCommerce Sales, Increase our Community Involvement. The first goal specifically works towards reaching 60% repeat sales through different promotional strategies like emotional marketing and sponsoring different professional athletes. Customer retention is extremely important to maintain Nike’s market leader position. Increasing eCommerce is a major focus for Nike. Last year we were able to increase our eCommerce sales by a profitable 51%. Our second goal is to continue this trend by increasing online sales by 50% every year for the next four years. It is our belief that doing so will solidify Nike as a leader in the online athletic market. Nike truly believes that sport can change
Nike, which is the Greek goddess of victory, was born in 1972, when BRS launched its first branded shoe at the U.S. Olympic track and field trials. Over the next decade, the company nearly doubled in size each year. In 1978, BRS officially changed its corporate name to that of the Nike brand.
It’s because when I sport the Nike swoosh, I feel as if I representing the Nike brand and the beautiful, driven, fit women I see in their advertisements. Feeling this way gives me the inspiration and confidence to play my best. I feel as if I identify with the women in the advertisements by wearing Nike. “The relationship between persons and the product remains one of the most crucial signifiers within advertisements. Persons in advertisements supply the consumer with a certain identification frame—whether the person is presented as a user or is presented within a lifestyle setting, the viewer is invited to identify him/herself with the presented person.” 202 Brand Culture. The Nike brand does a great job at doing this to their consumers to create brand loyalty. Nike brand users, just like myself, see the athletes using the brands and feel a certain connection to them. Brand loyalty should not only be a goal for brands because of the benefit of having their logo advertised on consumers who fit within their target market, but also for PRICE SOMETHING ECONOMY
Nike Inc. was founded in 1962 by Bill Bowerman and Phil Knight as a partnership under the name, Blue Ribbon Sports. Our modest goal then was to distribute low-cost, high-quality Japanese athletic shoes to American consumers in an attempt to break Germany's domination of the domestic industry. In 2000 Nike Inc. not only manufactured and distributed athletic shoes at every marketable price point to a global market, but over 40% of our sales came from athletic apparel, sports equipment, and subsidiary ventures. Nike maintains traditional and non-traditional distribution channels in more than 100 countries targeting its primary market regions: United States, Europe, Asia Pacific, and the Americas (not including the United States).
They attempt to choose athletes who they want to reflect their brand, they are achievers, winner, determined and accomplishment orientated, which is what they also encourage their consumer to be. Another important source for brand equity from Nike is the high perceived quality of their products not only by athletes but the public as well. Although most consumers won’t be using their Nike products for high level athletic performance, Nike products are always designed to be able to be used with that
...fected by print advertising even if they don’t realize it. Nike uses all different forms of advertising to appeal to all audiences.
Nike is the number one innovator in the world in athletic footwear, apparel, equipment, and accessories. This worldwide company operates in an extremely different organizational structure than other companies, such as Reebok and Adidas. Nike operates tremendous marketing strategies and develops inventive designs to inspire athletes around the world. This company is one of the largest suppliers in the world in athletic footwear and apparel, main producer of sports equipment, and making Nike the most valuable brand among sports companies. The task for Nike is to join diversity and inclusion to encourage ideas and innovation. Around the world, this company is a popular brand.
international markets. The company wants to generate more than half of its revenue from overseas. In my opinion, Nike’s strategies and tactics are to seek on the opportunity to do the marketing on its radical, rebellious and anti-establishment images to the international markets and to benefit from its use of overseas factories to outsource manufacturing processes. For example,
Nike recruits brand ambassadors from different parts of the world who top in athletes and who are having a good following in the public, which helps them to reach the audience that influences them to purchase the Nike sportswear. (MichaelSam85, 2011)