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This has led to the firms paying pension to their employees to increase because the staff is living longer. Commitment of designing innovative footwear for serious athletes. Jun 27, 2017. ...What have been the key success factors for Nike?Nike, originally known as Blue Ribbon Spots is involved in the design, development and worldwide marketing of footwear, apparel, equipment and accessory products which started its journey in early 1962.In nearly 200 countries with around 18,000 retail accounts Nike is now the largest seller of athletic footwear in the world. Learn how your comment data is processed. Consumers are willing to pay more for brands that they judge to be superior in quality, style and reliability and Nike has acquired the branding image with its technology based production methods and unique marketing strategy. Describe the factors that drive Nike’s decision to stick with some form of network organizational structure rather than own its manufacturing operations. Designed by Elegant Themes | Powered by WordPress. Nike induces emotion in the customer through “emotional branding”. This blog will argue the successful factors of Nike in terms of brand personalities, marketing positioning, and the form of promotion. It is flourished in a culture that holds diversity and rewards thoughts. Save my name, email, and website in this browser for the next time I comment. They are cultural aspects that are perceived to affect the business either in a positive or negative manner. According to Nike’s CEO, Mark Parker, The Nike + iPod Sport Kit is a wireless system that connects to the iPod nano to give people a personal running and workout experience (Apple, 2007, p. 1). They include such factors as age structure, demographics, rural-urban migration, literacy levels, leisure activities, changing lifestyle and gender role. This flag is the incentive for the people, and the philosophy behind the energy and determination, is that everyone concerned, whether you are not athletes. for a wide assortment of sports including baseball, ice hockey, track and field,  soccer, tennis, basketball, lacrosse and cricket. Retrieved from http://studymoose.com/the-key-success-factors-for-nike-essay, Copying content is not allowed on this website, Ask a professional writer to help you with your text, Give us your email and we'll send you the essay you need, Please indicate where to send you the sample. It is thought that using professional athletes in advertising campaign is both effective and efficient. Key success factors are most significant to future success of industry firms. Ans: The key success factors for Nike have been as follows: High quality running shoes designed specially for athletes by athletes. Nike is one of the pioneers of the manufacturing outsourcing strategy. In terms of creating a highly-flavored psychological value in the consumer mind, they should assure chipping in helping the many current disasters. Your Answer is very helpful for Us Thank you a lot! Those factors are linked directly to the market potential and the customer needs. These are equipment used to decrease the weight of numerous types of shoes. Naturally, the leadership of Nike indicates at a great success of the company in its strategy of expansion and entering new markets worldwide. What recommendations would you make to their senior marketing executives going forward? - Associates well with the supplier/alliance market, as they are able to sustain good relations/distributions and production materials. They are targeting only the young people customers. Especially, the recent issue “Anti-Global worming” program evidently can make a better thought about the corporation. It employed nearly 30,000 workforces globally. 5. Nike offers a variety of products, including apparel and shoes for sports activities. After years of struggle, in 1971 they came up with lighter weight training shoes that had an outsole with waffle-type nubs for traction. Amazon: Key Success Factors. Being a world’s major sports and Fitness firm, it also goes ahead of the game to work with cultures and communities around the world. Behind its success, among many factors two key factors can be easily seen which are Advertising and Marketing. Nike is the world’s principal supplier of apparel and athletics and a main producer of sport equipment. creating new products, commercialization and selling them to consumers. – Nike Associates itself with different Sports as a part of their promotional strategy for Success Nike and Olympics Nike’s brilliant shoes on Olympic player Michael Johnson was a key showcasing method to make their brand worldwide successful. First of all, it is necessary to underline that the company’s strategy to sign contracts with outstanding sportsmen turned to be very efficient. new people come in. Nike placed a significant weight on marketing and advertising the company and its products. It promotes products by sponsorship agreements with famous celebrity athletes, col… Your email address will not be published. From Nike’s early success with commercials featuring Mars Blackmon proclaiming “It’s gotta’ be the shoes!” to the brutally honest black and white ad showing an emotional Tiger Woods being chastised by his father, Nike has never been afraid to take chances with its ad campaigns. By continuing we’ll assume you’re on board with our cookie policy. The KSFs of Nike are given below: Nike sponsors numerous high profile sports and athletes teams around the globe with the greatly recognized brand name of "Just Do It" and the Swoosh logo. If Nike does this, it can also defeat local brands and can also increase its overseas revenues more. A pair of Nike Air Max Classic shoes. Nike strongly bonded the contracts with extremely successful and influential jocks. Nike should be sure providing the core values of the brand what is the base concept of the brand. Key success factors of Nike are: One of a kind- It provides unique value to customers having its own look/ custom . Nike sponsors a multitude of sports associations including the NFL and NBA, as well as colleges and events such as the Olympics. Most of the factories/plants are located in China, Taiwan, Indonesia, India, Vietnam, Pakistan, Thailand, Philippines, and Malaysia. Get a verified writer to help you with The key success factors for Nike? Nike delivers innovative products, experiences and services to inspire athletes. Of course, there are only a few factors which affect Nike with regard to this, but they are worth stating: Nike’s mass production factories are, without a doubt, harming the environment. Where is Nike vulnerable? If it tries to convince consumers to change the use pattern of these shoes, like they may use those shoes casually or at home, sells may increase. Additional materials, such as the best quotations, synonyms and word definitions to make your writing easier are In nearly 200 countries with around 18,000 retail accounts Nike is now the largest seller of athletic footwear in the world. Nike placed a important weight on selling and publicizing the company and its merchandises. 2. Plus, continued innovation and product quality are keys to success. But in the early age, they did not think about the problem that might rise by enrolment of individual athletes; because at a time, people dies and Nike’s marketing mix includes numerous elements in addition to promotion. Nike's success may be attributed to several factors, key is their marketing strategy of celebrity endorsements. Nike does not sell “Nike air max” shoes, it sold a way of life, which is key to its success. We use cookies to give you the best experience possible. Like Nike Responded to trends and changes in consumer preference by adjusting the mix of existing product offerings, developing new products, styles and categories, and influencing sports and fitness preferences through its aggressive marketing. Nike also actively followed and applied some marketing plans and programs to sustain its dominance in the industry and stay competitive. The freshest lines are the Nike NYX, Nike SB, Nike 6.0 shoes, deliberated for skateboarding. For capturing local markets, Nike needs to design and manufacture footwear for the local sports. What should they be sure to do with its marketing? also offered here. 1. There is a fact; Nike was asserted in using celebrity endorsements in their advertisers and campaigns. Most Expensive Nike Lebrons. (309). new technology, the Nike foundation, and celebrity endorsement. Since the company was founded in 1964, the Nike brand (originally Blue-Ribbon Sports) has become one of the most recognizable in the world thanks to the famous “The Swoosh” logo created by student Carolyn Davidson for $35. Financial power. The successful application of the four management functions when dealing with these factors, impact the success and failures of Nike… Nike can watch out the following things to watch out for their brand: 1. In nearly 200 countries with around 18,000 retail accounts Nike is now the largest seller of athletic footwear in the world. Nike Success. But a large segmented group of old and child group is not targeted. Amazon’s mission is to be a “customer focused company”, and this guides any decision made by the company. Nike Inc.’s Five Forces Analysis shows that the external factors in the industry environment highlight the significance of competition, customers, and substitutes. Initially the company was founded with the name of Blue ribbon by Bill Bowerman in 1964 and the name was changed to Nike in 1970. The company focused on delivering high quality running shoes designed especially for athletes by athletes. A PESTEL/PESTLE Analysis of Nike Inc. identifies key issues that the company must include in its strategic formulation. (2016, Jun 08). To maintain its position in the athletic shoes market, Nike Inc., must address the opportunities and threats based on the external factors that … Background of Nike: Nike is a universal brand, highly idolized by teenager groups and leading sports brand and supplier. In today's society where consumers have significantly less time to shop and compare, brand awareness is critical. Although Nike is the market dominator in the athletic footwear market, it should be sure it’s strategic marketing plan for expanding its field towards more hasty and prominently. Because quality caries brand image and that’s why quality should always be increased to compete with the competitors. In this proposal, it will explain Nike Sportswear Company history, background, analysis the objective and the problem of Nike Company, and find out the reason why Nike Sportswear Company can to be a largest sportswear company in the world. There is hardly an area of innovation left untapped (often, re-invented) by the company. Selecting a spokesperson whose characteristics are similar as well as congruent with their brand image. 1. Nike understands consumer needs and uses R&D to design premium concert athletic products. NIKE became one of the world’s most valuable companies, one that regularly trades north of 20 times earnings. On analyzing the success of Nike, it is possible to single out several factors that contributed to the progress of the company. Just give us some more time, By clicking Send Me The Sample you agree on the, Ask Writer For 2. It is positioned as an expensive product, premium-brand and selling well-designed. Nike is placed to discover potential, demolish boundaries, and push out the edges by employing people who can think, grow and create. Nike reduced its production cost by importing shoes from abroad. The Social environment that Nike enjoy… squads like Michael Jordan. What should they watch out for? Behind its success, among many factors two key factors can be easily seen which are Advertising and Marketing. Nike deals with only one product line; which is footwear. If it was so, the company would run the risk of diminishing the brand as soon as celebrity becomes faded. Nike is manufacturing athletic shoes. Nike has also made effective use of sports sponsorships. They presently also make jerseys, shorts, baselayers, shoes etc. (Photo: Public Domain) Nike Inc. continues in its growth path as a leading player in the global sports shoes, apparel and equipment market. Don't be confused, we're about to change the rest of it. They are also trying to take the share of the profit by creating brand image in the consumers mind. Don’t waste Your Time Searching For a Sample, Get Your Job Done By a Professional Skilled Writer. Nike’s marketing strategy is centered on a brand image which is accomplished by distinctive logo and the advertising slogan. 4. They focus on creating meaningful stories to build a loyal fan base. Anyone’s shortlist of the world’s leading brands would surely include Nike, the global icon for the athletic shoes. Spokes person function should be influence able to all types of people. Nike can also enter into other market relates to the footwear market to diversify its market share. It promotes products by sponsorship agreements with famous celebrity athletes, college athletic teams and professional teams. In the Asia, Nike is not still that much popular as it is in the America & Europe so for dominating the Asian countries and make its root in the deep of the market it has to be sure the master marketing plan. Though Nike is manufacturing athletic shoes for about more or less 30 sports, but there are many other local sports in different countries. For example in USA, labor pool is growing. It has newly offered cricket shoes, known as “Air Zoom Yorker”, designed to be 30 percent lighter than rivals. In adding to manufacturing equipment and sportswear, it operates retail stores under the Nike name. Nike strongly bonded the contracts with highly successful and influential athletes, coaches, teams like Michael Jordan, Serena Williams, and Tiger Woods to popularize its shoes and other sports accessories. “Nike Air Max” is a lineup of shoes initially offered by Nike in 1987. Nike can make footwear for the old and child also. Nike tells its stories with a traditional narrative of a hero who overcomes hardships, fights with an enemy and leads to glory a… Recently, Nike decided to collaborate with Apple and bring sports and music together. In product development and creation, Nike involves three stages i.e. Nike is successful due to its marketing strategy. The company has also employed some of the biggest sports stars since the 1980s. Nike campaigns are really effective. 4.7 Important Topics for Projects in Marketing, Quartiles, Deciles and Percentiles (Grouped Data), Quartiles, Deciles and Percentiles for Ungrouped Data, Relationship between mean, median and mode, Porter Five Forces Analysis of Mark and Spencer (M&S). Numbers of competitors are increasing day by day. Case Analysis Questions Answer the following in up to 350 words each. Aim: This proposal is focus on what is the main point of critical success factors of Nike in Hong Kong. As their business was established by now they tried to launch their own line of shoes. Less than a minute ago Someone applied to the Nike Memphis Employee Store Retail Sales Associate Seasonal ("Athlete") position as a result of Ashley Washington's referral. products . Mapping the reasons for Amazon’s industry leadership and growth is a difficult task. Not only do they release plenty of aerial pollution like most factories, but Nike’s production centers occasionally go as far as directly polluting rivers [5]. The key success factors for Nike?. It is most important for the strategists to be familiar with the surroundings of sector in order to distinguish the most important competitive success factors. Nike's success lies in its ability to keep the brand modern and relevant in an ever-changing marketplace. Nike Success Nike is successful because it has some of the best, if not the best, marketing in the world. Nike is successful due to its marketing strategy. Nike sponsors numerous high profile sports and athletes teams around the globe with the greatly recognized brand name of "Just Do It" and the Swoosh logo. Topic: Strategic marketing analysis of Nike in British market and its critical success factors. This site uses Akismet to reduce spam. It manufactures an extensive variety of sports equipment. Organization should use it as their uniqueness of their product quality, feature and, after the entire brand image. Nike is the world’s principal marketer, distributor and, designer of authentic athletic footwear, equipment, accessories and apparel for a broad variety of fitness and sports activities. 14 Key factors that influence success of NIKE If a company is able to establish brand awareness, they will have a significant advantage in grabbing consumer's attention and, therefore, market share. In 2008, it designed the “Air Jordan XX3”, a high-performance basketball shoe intended with the environment in mind. It is positioned as an expensive product, premium-brand and selling well-designed. As Nike has already created the brand image to the consumers mind, marketing managers always need to be alert to make sure to stable the brand image. Nike’s people bring inspiration and innovation to business. It optimizes the manufacturing and production processes. Nike contracts with manufacturers to produce and distribute products to their owned as well as partner retailers throughout the world. In this circumstance, Nike should watch out for product diversification in order to increase their share in the U.S market as well as the global market. Michael Jordan was one of the company's earliest and most popular spokespersons. Nike marketed and advertised its products mainly through TV, magazines, and campaigns which also were effective and efficient. Another important reason for Nike’s success was that they read the consumers mind perfectly. The company focused on delivering high quality running shoes designed especially for athletes by athletes. Brand personalities: The logo of Nike is formed by two simple curved lines, which is called as the ‘Swoosh’. But today, athletic shoes market is very much competitive. Job shares through NIKE, Inc. Help. But marketing executives should keep in mind that quality matters. Brand reputation can effectively enhance revenue. Brand management is one of Nike’s many strengths. They debuted their training shoes in the 1972 U.S. Track & Field Trials. by mbalectures | Jan 7, 2011 | Strategic Management | 3 comments. Receive The Latest Posts Directly To Your Email - It's Free!! We've changed a part of the website. Today, we’re going back to the earliest days of Nike to figure out how that magic happened and what the ingredients were to their success. Someone applied to the Platform Software Engineer I - (Java Specialty) position as a result of Venkata Akkinapalli's referral. Behind its success. Students looking for free, top-notch essay and term paper samples on various topics. (348), 4.8 They should diversify the pattern of shoes. If reducing cost reduces quality, marketers should not go after it. 3. 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