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1 Company Description 1.1 Company History The company was first started, as a distributor of Tiger running shoes from Onitsuka Co. – Japan, Kobe, by a partnership between Bill Bowerman – a respected track and field coach at the University of Oregon - and Phil Knight – a talented middle-distance runner in Bowerman’s track program - in the United States, 1964, and the company was named Blue Ribbon Sports (BRS). The company started by selling the running shoes from the trunk of Knight’s car while Bowerman ripped apart the running shoes, looking for ways to improve it – making it lighter and better. As they both had full-time jobs, there were difficulties in managing the company, thus, they employed Jeff Johnson, the first full-time employee in BRS. Johnson quickly became an invaluable member of company as he marketed the company’s products. It was only in 1972 when the relationship between BRS and Onitsuka Co. started falling apart that the company decided to make their first big decision – starting their own brand, Nike, selling shoes with Bowerman’s design ideas. 1.2 Successes of Nike Currently, Nike is the world’s leading innovator in athlete footwear, apparel, equipment and accessories. The company has had many successes since its’ beginning such as being named the No. 1 Most Innovative Company in Fast Company magazine’s annual ranking of the world’s top 50 innovators in February 2013, being awarded top honours by the Corporate Register Reporting Awards (CRRA) for Innovation in Reporting and Best Overall Report in April 2013 and also having Nike VP of Sustainable Business & Innovation, Hannah Jones, honoured as one of the three recipients of the 2013 C.K. Prahalad Awards, a prestigious award giving to companies, individuals and... ... middle of paper ... ...st people would buy Nike products during sales when the products are sold at a cheaper price or during sports related events, such as the FIFA World Cup every four years, when there is a “sports fever”. They look for performance and design in the products and also whether or not it is “value for money”. Nike also tries to attract people of different user status to buy their products. Nike attracts ex-users to use their products again by showing that they provide superior customer value when compared to other competitors, potential users and first-time users are attracted by the benefits that the product can offer them. Nike retain their hard core loyals by offering premium quality products with unique designs to allow consumers to stand-out, soft core loyals are captured by providing products at cheaper price as compared to similar products offered by competitors.
"Nike." Columbia Electronic Encyclopedia, 6th Edition 1. Academic Search Premier, EBSCOhost (accessed November 6, 2009).
Nike is also very committed to ensuring they are fulfilling the needs and wants of their customers. Brand loyalty is a big concern for Nike as long as they continue to focus on these needs they will be in business far into the future.
Those two running geeks are Bill Bowerman and Phil Knight. The long lived business partnership began in 1962 as Blue Ribbon Sports (BRS). Their first year sales were $8,000 and every year after proceeded to increase. In 1972 they changed their company name to Nike. The word Nike comes from the Greek winged goddess of victory. They have achieved victory over the past 30 years. Through those years Nike has remained focused on creating performance opportunities for everyone who would benefit and offered empowering messages for everyone who would listen. Nike has a great accomplishment of servicing human potential through sports.
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.
After one year of active duty in the Army, Knight went to Stanford Graduate School of Business. There, that’s when he knew that he wanted to become an entrepreneur and in 1962 graduated with a master’s degree in business administration from the school. After graduating, he went to Japan where he discovered a brand of running shoes. He talked to the owner, Mr. Onitsuka and they made a deal where Knight had rights to sell his shoes to the western part of the United States. He had to get a job as an accountant because the shoes weren’t being sent to him for a year. As soon as he got the shoes, he sent some to his running coach Bill Bowerman and Bowerman not only purchased the shoes but he also wanted to be partners with Knight. On January 25, 1964, the partnership was sealed and Blue Ribbon Sports was created. His first major sale came from green Plymouth Valiant automobile and it allowed him to leave his accounting job and fully work at Blue Ribbon Sports. In 1978, an employee mentioned that the company should be called Nike because Nike meant the Greek winged goddess of victory. The famous Nike design came from a student named Carolyn Davidson in 1971. Knight would later
Sports giant Nike is the leading player in the global athletic footwear market with an estimated market share of about 20%. The company is well positioned to grow its market share in the long run. Factors that are expected to benefit its position account of factors such as high growth rate in footwear sales, a strong competitive position and rapid growth in key footwear markets.
The apparel powerhouse of the 21st century, and the market leader in athletics, it is no question that business has been booming for Nike. Nike has a massive artillery of recognizable catchphrases and a pair of logos that sum up the brand under one great roof to leave no question on their impact on society. Considering the massive growth that Nike has continued to follow over the last five years their revenue had increased 10%, and $1,775 million just in the last year (Nike Financials 2016). In review of the company’s financials “by deducting all expenses from the topline which in this case is $32.38 billion minus other expenses leaves $3.76 billion for NKE stock” (Nike Annual Income Statement 2016), these figures provide evidence
Most brands have a set ‘corporate responsibility’ belief, but Nike seem to be acting on the belief with the best outcome. Nike’s ‘my time is now’ campaign gave back to a sport that accounts for a large sum of their profit by hunting for footballing talent. Nike celebrated a new generation of footballers with ‘The Chance’, an extension to the campaign. This is accompanied by an environmental scheme using recycled polyester, diverting 2 billion plastic bottles since 2010, bettering products and improving lives. They class it as “innovating for a better world” (Nike;2014). They divert back to sport constantly with schemes and foundations. Believing that sport is for everybody, they do what they can to allow everybody the access to sport as they believe it as the “greatest investment a society can make” (Nike;2014). The best example of their worldwide responsibility being achieved was with ‘The Nike Foundation’. The Nike foundation allowed adolescent girls to end their own poverty and make changes for the world. The idea was to unlock potential in the most deprived places.
is still one of the most successful manufacturers of athletic shoes and apparels. The company’s mission is “to bring inspiration and innovation to every athlete in the world,” (Kapferer, 2012). This statement has also been used as Nike’s vision statement since it was established by Bill Bowerman and Phil Knight in 1962 under the name Blue Ribbon Sports. According to this mission statement, it’s quite evident that Nike is focused on satisfying the needs of the customer rather than the product since it states that the company is more concerned with bringing inspiration and innovation to all athletes, who’re the company’s primary consumers. Consequently, the mission statement tells who Nike’s customers
Nike is multinational company that is occupied in the design, development, and manufacturing of worldwide and sales of footwear, apparel, accessories and service. Nike was originally founded as Blue Ribbon Sports in May 30, 1971 The name was converted over to Nike by Bill Bowerman and Phil Knight. This is a brand that has been around for a very long time. As years progress, Nike have expanded their business in other countries. Nike has 858 retail store locations worldwide. With most of those locations being in other countries, Nike had to develop a way to advertise to different countries in other languages. If they never took the time to analyze how to reach the different audience, they would have missed out on new consumers and profit. The
The corporation should invest more money in research and innovation since this is what has helped them to make a product that rivals their competitors. At the same time, it is imperative for them to improve their machinery for cheap labor costs which will help the company increase its production allowing it to meet the demand in the market. By improving production leading to lower costs of making shoes, apparel, and equipment, Nike will achieve higher demand assuming a quality product is maintained in that process. They will stand a better chance of competing in the industry (Hill, 2009). The organization is already in a better position for meeting the demand, customer taste, and needs. The company should improve quality by focusing on developing lightweight products that are more durable compared to those offered by the competitors. Also, Nike can keep up their success by continuing to reinvent and improve their items and continue to meet the current demand by using new technology. It can also use the Internet to communicate with consumers (Hill, 2009). By developing new technology, Nike will allow the customers to suggest and design their shoes online. To achieve this goal, it is fundamental to enhance areas such as their website to make it more user-friendly. Finally, the company should pay attention to small startup organizations that enter the
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).
There are as many brands as there is ants in the world, but the two brands that pop out are adidas and nike. Those two brands have been going head to head for ages to see who is the better brand. It’s been tested, compared, and debated which brand is better. Whether it’s the quality of the materials or the cost of it, the debate is ongoing. Both brands have been fighting for the top ever since they were both created and I don’t blame them it’d be fantastic to be the best brand in the world. When Nike and adidas are contrasted, it becomes clear that the Adidas brand are better for the overall consumer and enhances sport performance than Nike.
This project concentrates on the Nike Sports shoe; Nike is one of most significant shoe manufacturing company worldwide. Sportswear manufactured by Nike is known for quality and is most liked brand of athletes. (Daniel, 2011)
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.