As a member of the marketing team, I present Adaptable Shoes as Nike’s newest quality offering. This shoe will be interchangeable, meaning you can wear the heels to work and take off the heel portion of the shoe to make it into an instant flat for any given different occasion. The adaptability in the shoe will be able to portray a variety of looks and types of shoe needed for the moment. This includes adapting from heel to flat, heel to flip flop, boot to tennis shoe, etc. Basically, the show will be able to provide multi-function options for the consumer at any given time. Nike operates in over 160 countries while offering a wide variety of athletic footwear, apparel and sport’s equipment. The variety in product includes running, golf, football, aquatic, auto racing and much more. This brand is widely recognized with their logo, the swoosh, on all products. The Nike brand and their products were created with the mindset from co-founder, Bill Bowerman, “If you have a body, you are an athlete” (www.nike.com). This bold and powerful statement has been fundamental and the backbone in Nike’s success. Nike has proven to mimic this statement through their continuous marketing efforts to target all people with their variety in product, innovations, and inspirations. Nike’s mission statement, “to bring inspiration and innovation to every athlete in the world” (www.nike.com), provides a clear understanding to exactly who their marketing targets are: athletes, which is everyone for Nike, according to Bowerman’s statement. However, aspiring athletes and professional athletes seem to be Nike’s central target. In order to appeal to every consumer need, Nike has a few precise objectives to help ensure that their strategy stays... ... middle of paper ... ...with the assumption Nike can still have their shoe shelf for the new adaptable shoe. Not only will this be saving money by recycling but showing our customers that we are a great team to work with. It will build our existing relationship to ensure long-term sales. The new product, The Adaptable Shoe is expected to bring significant new sales to the company within the first three years. Although it is expected that the traditional Nike shoe will still hold most of the financial power, we believe the new launch will hit a market that Nike has never hit before which will in turn, give us more future business. Works Cited Website: www.nike.com: About Nike, Retrieved September 4, 2011. Website: http://en.wikipedia.org: Secret Tournament, Retrieved September 4, 2011 U.S. Census Bureau, 2010. 30 September 2011. http://quickfacts.census.gov
In an increasingly competitive market with strong rivals such as Reebok, Adidas, Nike’s latest strategy is offering consumers the shoes they desire. This is done by providing customers with the option of designing their own shoes. At Nikeid.c...
As Nike is an international company that has their product selling worldwide, they have countless of competitors, including many domestic local firm. However, not all of these companies have the power to compete with Nike, only a few international companies are Nike¡¦s major competitors, for instance, Adidas and Reebok.
At the meeting, management revealed plans to address both top-line growth and operating performance. To boost revenue, the company would develop more athletic-shoe products in the midpriced segment3a segment that Nike had overlooked...
Consumers must be aware of the changes that might occur in Nike through media and social awareness
Nike Incorporated is the number one leading sportswear and equipment provider in the world. They manufacture anything from casual clothes to sports equipment, shoes to socks, and basketballs to golf balls. As a result of its massive success, Nike employs nearly 30,000 people worldwide while manufacturing in 700 shops around the globe and has 45 offices outside the United States. Its extensive reach into the global market has Nike producing more exclusive products than any other manufacturer in the world. Nike’s headquarters is located in the metropolitan area of Portland, Oregon.
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 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
Many global companies like Nike, Inc. are seen as role models both in the market place as well as in society in large. That is why they are expected to act responsibly in their dealings with humanity and the natural world. Nike benefits from the global sourcing opportunities, therefore areas such as production and logistics have been outsourced to partner companies in low-wage countries like China, Vietnam, Indonesia and Thailand. As a result the company is limited nowadays to its core competencies of Design and Marketing.
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
A second problem that New Balance faces is its limited product line. New Balance prides itself on providing quality athletic shoes for the serious athlete. However, the market has been shifting to not only include serious athletes, but it now also caters to the more fashion-oriented crowd. This crowd tends to be from the younger generation, the part of the population that New Balance has so far not been focusing on. New Balance has geared itself toward the older crowd, which has severely limited the company as far as its ability to expand into new product areas and remain competitive in the changing market.
One thing I like about Nike is how accessible it is. You can find Nike products just about anywhere such as Nike outlets, Dicks Sporting Goods, Khols, Macy and other big department stores, as well as online. Some companies don’t make it as easy to find and buy their products which can be a struggle. I hate when I’m in need of a certain product but companies limit their access, and I can’t get what I need when I need it. Nike makes it easy to find and buy their products at any
The current market for footwear particularly sneakers is booming, fueled by millennial demand and the organization 's strategic business approach. The international sneaker market has also grown by approximately 40% since 2014 to an estimated $55 billion. In 2015 the athletic footwear industry in the United States grew by 8% generating about $17.2 billion in sales. Out of that number, Nike sales are approximately 3% with the average selling price increasing by 5% which translates to $61.15 (Hill, 2009). The millennials alone are driving the market as they spent approximately $21 billion on footwear in 2014. In Japan alone, the organization has boosted the market by about $2.6 billion. Furthermore, the footwear industry is expected to be one
Nike promotes their sportswear in such a way that their communication objective can easily be achieved. Nike uses following way to interact with their current and new customers:
Nike will need to showcase our differentiating elements of the company as runners are very brand loyal customers. Even so, Nike has 60% of the market currently. You mentioned that you feel we can improve in this area, so this is what we’re going to do: massively increase innovation and development for our running shoes, and increase brand reputation. Nike has been a historic leader in running technologies. Recently we released the electronically tied running shoes, just like from the movie Back to the Future. We need to continue to push boundaries and see what new technologies can do to revolutionize the sport. The second focus for this market is to increase our presence in specialty running stores and in third party eCommerce sites. Making sure Nike is seen and heard by this market is going to increase our success with them. Dedicated runners were found to go to specialty running shops more often than making any purchases online. Nike needs to have a bigger presence where the customers actually
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.