Its slogan ‘Just do it’ has appealed to target customers to buy the product with the sense of inspiration and confidence and which has made it the major competitor in athlete industry” (p 5). As with all companies, Nike has taken considerable time and effort to outline a mission statement that embodies all that the firm symbolize. The research is unclear on exactly what if any vision statement this company. According to Panmore Institute (2017), Nike Inc.’s indorsed mission statement is “to bring inspiration and innovation to every athlete in the world.” This mission statement signifies the company’s strategic goal of reaching out to the global sports shoes, apparel, and equipment market. As a leading manufacturer of sports shoes, clothing and equipment, Nike Inc. inspires people to adopt a winner mindset, which covered in the “inspiration” component of the mission statement.
Nike Nike is an American multinational company that designs and manufactures footwear. The company also caters apparel, accessories, and equipment of sports. The objective of the footwear company is to bring innovation and inspiration to every athlete. The company delivers innovative products in order to exceed customers' expectations. Nike creates leaders and inspires athletes to achieve their vision and goals.
Customer- Based Brand Equity (CBBE) Model Building and enhancing a strong brand has been found to have profitable rewards in business, it has therefore become a prime priority for many firms. Customer-base brand equity (CBBE) is a model that is being adopted by many organizations in order to build strong brands that can compete with the other ones in the market. The model outlines the four steps that should be followed in building a strong brand. The first step involves the establishment of appropriate brand identity, which includes enhancing customer awareness of the brand. The second step deals in creation of proper brand meaning through powerful and unique brand connection with the customers.
Also, Puma has a great brand equity because of the company’s focus on innovation and design to produce high quality fashionable athletic products. Kotler and Keller (2009) state, “brand equity is the added value endowed on products and services, reflected in how consumers think, feel, and act with respect to the brand, as well as in the prices, market share, and profitability the brand commands for the firm” (p. 111). The leaping Puma logo is a very bold iconic symbol that is very easily recognizable to consumers. This Puma logo is designed to symbolize to consumers the brands strength, power, and agility. The Puma brand logo creates a positive customer-based brand equity because it’s recognized by consumers to represent the company’s stylish athletic products (Olson, Czaplewski & Slater, 2005).
This has enabled the company to engender customer experience service that has improved the company’s productivity over years. The company has adopted numerous technological innovations to boost its customer relations (Fleisher & Bensoussan, 2007). Therefore, examining company’s capacity and being the leader in the retail industry, it is evident that the company has embraced a quality culture. The quality culture has enabled the company to remain profitable. The high customer relations have allowed the company to constantly provide and improve its product and service quality.
Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.” “A brand is a singular idea or concept that you own inside the mind of a prospect4” - Al Reis 1.3. IMPORTANCE OF BRANDING As consumers, we don't really think about the importance of branding. We just seem to go with the flow of brand names that have become synonymous with our daily living. But the impact of a name reinforces the importance of branding when we promote our business. Think about one of the world's most popular athletic shoe companies, Nike.
...This is a major part of Nike's corporate culture, which then trickles down to Nike's management styles. Nike lets manager's keep lines of communication open and lets them determine their own decision making. The company also offers their employees something called LifeTrek. This is a benefit and compensation program that gives their employees a sense caring and trust. THE FUTURE With the increase in competition and limit of growth the U.S. athletic shoe industry, Nike is still slated to be a major leader in the market.
The success of the people that Nike promotes helps give Nike a little bit of credibility in what helps make someone a great athlete. So when Nike promotes a shoe saying that a certain type of shoe promising a specific result people not only buy to satisfy the need to create a better reality but also in trusting in Nike and what they can do. Those pictures are their constant appeal to ethos. The athletes like Russell Westbrook and past legends like Michael Jordan that Nike sponsored have created a chain in which Nike gives an athlete publicity and in turn that publicity helps the person they are sponsoring boost the sells for their product more. With all of this Nike helps create an image of what modern American is like.
Nike is a successful business because it uses all the strategy, culture, core values, leadership, and tactics. In fu... ... middle of paper ... ...onsorship. Nike has better quality because they focus on what would be best for the consumer. If the customer is satisfied with the product from Nike they will continue to buy from Nike. No matter what the price is set to be.
The slogan basically informs the consumers to push beyond limits and strive to achieve new goals. Nike, Inc. aims to deliver value to their shareholders by establishing profitable products. They focus on Nike Brand and Brand Jordan that consist of seven major categories: running, basketball, football (soccer), men’s training, women’s training, NIKE Sportswear, and Action Sports. Despite the seven major categories, they also produce products for kids, athletic, and recreational uses. Among all of that, NIKE Sportswear, Running, Basketball, Football (Soccer), and kid’s shoes are the top-selling products.