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 a common name used in most households in the world. Many sports figures and teams endorse Nike, and because they do, people have to have Nike products. Nike uses this major publicity to continue to push them to the top of their market, and uses many tools to achieve this goal. Nike uses their long history, financial statements, and financial analysis to continue to push them to top and make them a better company. Nike History The Beginning William Jay Bowerman (Bill Bowerman) and Philip Hampson Knight (Phil Knight) started the Nike Company January 25, 1964.
Fast fashion Fast fashion is merely more than a one hit wonder. The fast fashion industry has grown and has ultimately proven itself to be profitable industry in the clothing market. The retailer most distinguished for a fast fashion approach is Zara (Hayes & Jones, 2006). Zara is a child company of the parent company Inditex. Zara stores have established the stride for merchants around the globe in creating and shipping fashionable clothing (“Case 3-4.
Conclusion Nevertheless, Nike is an extremely diverse company with outstanding organizational structure, impressive marketing strategy, and innovative products. The organizational structure of the Nike Corporation helped them become a leading innovator for the world with creative apparels and shoes. Their intelligent marketing strategies assist them in advertising their products to motive their customers and sell them. Their innovative product motivates customers with great performance footwear and quality designs to take on any obstacles. The Nike Corporation discovers various ways to improve their organizational structure to inspire the world.
The first is Personal Identity, identifying with valued others in the media. Nike uses this strategy by coming out with new designs and products that people feel they have to have it in order to keep up with the times like keep up with the “Jones” expression. Information is the second and it deals satisfying curiosity and general interest. A perfect example of Nike addressing this need is the commercial with famous athlete with Nike gear on that the consumer might not haven’t seen. But for a customer to inquire that gear you have to go to the website to find the information about the gear.
Retrieved from http://search.proquest .com .libproxy.edmc.edu/docview/218929026?accountid=34899 Wood, J. & Vikinas, T. (2005). Characteristics associated with success: CEO’s perspectives. Leadership & Organization Development Journal, 26(3/4), 186-196. Retrieved from http://search.proquest.com.libproxy.edmc.edu/docview/226931199?accountid-34899
Gary Mack, David Casstevens. Mind Gym: An Athlete’s Guide to Inner Excellence. New York: McGraw-Hill, 2001. Print. “IPS-Ideal Performance State.” Quad Cities Sales and Management Training.
Nike advertising uses the emotional branding technique because it powerful; so powerful that it inspires customer loyalty from people all over the world. Nike has some of the biggest sponsors for its business. When companies have sponsors who are well known it helps them to sell their business more. With all the research that has been conducted, it would be extremely hard for any sport company to outperform Nike.
Think about one of the world's most popular athletic shoe companies, Nike. The importance of branding is exemplified by the fact that when you hear Nike, you think athletics and "Just Do It." A great brand name and association has catapulted Nike to the top of its industry. Deciding on a name is not a fluke, but instead is a well thought out process and analysis of names and meaning. The importance of branding begins with creating a simple name for your company.
This equips the organization in terms of its potential to exploit the existing opportunities in the market effectively, and respond with equal measure, to any arising challenges or threats. The firm can only accomplish this by extensively analyzing its strengths and exploiting its competitive advantages (Andreas, 2011). The firm will also be able to establish its weaknesses and address them accurately. The firm is dominant in most regions it operates in, controlling a remarkable 10% of the market globally. These accomplishments are on account of the company’s efforts in conducting massive brand awareness campaigns in all the market segments into which it has ventured.