It will look at the role of promotions as a consumer product company, offer possible promotional objectives, and consider other promotional methods the Nike Corporation may wish to implement in its quest to remain the market leader.
History, Development, and Growth
From their marketing strategies to their selling philosophies, Nike has developed one of the most recognizable and demanded name and logo tandems ever created.
A former University of Oregon track team member, Phil Knight, created Blue Ribbon Sports (a.k.a.BRS) in 1962 when he made a deal with a Japanese shoe company to import their shoe to the United States.
In Oregon, the legendary Bill Bowerman, who joined forces with him in 1964 to become the number one company selling athletic shoes, coached Knight. It was Knight’s idea to sell a low cost shoe with a very high quality.
Bowerman redesigned the Japanese shoe while Knight acted as the accountant and salesman, pushing their newly crafted sneakers at track meets and local shoe stores. Soon enough, BRS received a credit line and subcontracted it’s own shoe line. The Nike brand was born.
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.
The company signed on tennis great John McEnroe, marathon champions Alberto Salazar and Joan Benoit, and Olympic track star Carl Lewis. By the 1...
... middle of paper ...
...role in that effort.
Just as it says in the text, Nike is predestined to be the front-runner in the industry. After all, the company is named after the Greek goddess of victory!
Building Your Brand. (2004). Retrieved December 2, 2005, from http://www.va-interactive.com/inbusiness/editorial/sales/ibt/branding.htmlVirtual Advisor.
Nike Fact Sheet. (2005). Retrieved December 2, 2005, from http://www.hoovers.com/nike/--ID__14254--/free-co-factsheet.xhtmlHoover's Inc..
Etzel, Michael J., Stanton, Bruce J., Stanton, William J. (2004). Marketing. (13th ed.). Boston: McGraw-Hill.
Hinker. (unknown). Nike and the American Body. Retrieved December 2, 2005, from http://xroads.virginia.edu/~CLASS/am483_97/projects/hincker/nike.html
John. (2005, December 2). John's Swoosh Page. Retrieved December 2, 2005, from http://www.trizera.com/jsp/nikehist.htmlJSP.
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