NIKE Executive Summary by Lawrence Gimeno Recommendations: Make it count My first recommendation is directed at Nike's push into digital sports. In my opinion the new accelerometer based Nike+ technology is the birth of a whole new generation of Nike products and an amazing innovation to motivate people to include sports into their everyday life. Nike has attained a leading role in almost every one of the upcoming world wide sporting events, such as the 2012 Olympics, the 2012 Soccer Euro Cup, the NFL Superbowl, the 2014 Soccer World Cup and the 2016 Summer Olympics in Rio de Janeiro. Therefore the time is now for Nike to embed their customers and the fans of these major sporting events in the experience through their new technology. …show more content…
Looking at Nike's current flagship products and their presentations (NFL jerseys, Nike FlyKnit, Nike+ Technology it is obvious that the company is trying to move in the same direction as one company who mastered this strategy – Apple. Furthermore I think that publicly announcing these new product presentations and staging them in an interactive and fancy way as well as making them available for live streaming around the world on Nike's website or Facebook would quickly educate the potential customer and create the same kind of demand like Apple is enjoying for their iPhone, iPad and Mac product lines. Right now Nike is working on the development of a self lacing shoe as seen in the movie “Back to the Future 2” worn by the character “Marty McFly”. The company has acquired 65 patents in the process of constructing the shoe. The release of the shoe is rumored to take place in 2015, the year in which the movie takes place. Personally I see three potential outcomes of this move by Nike. First of all, this technology is applicable to the athletic footwear products as well and could revolutionize the fit of athletic shoes, giving Nike a further advantage over it's competitors by owning a product that is very hard to emulate. Secondly it boosts the brands aura and identity significantly, which leads me to my next point of Nike maybe moving into the fashion industry with this cult object. However Nike has not yet confirmed any of this strategies.
Innovation: In such a mature and competitive industry, continuous innovation is crucial to the success of the company as it gives a unique selling point that rivals do not have. Both product and process innovation are Nike’s
This event is watched by millions of people and some, if not most or all, of the athletes wear the Nike brand. This proves the sociological imagination factor of the Nike shoe because maybe people who wear or want to buy the shoe genuinely like the style, comfort or feel of the shoe. However, this brand in general, is highly influential over society in the workout world, sport world, fashion world, etc. The Nike shoe has become a symbol within professional sports and also throughout society as a
The company has launched the Nike products, which embody a love of sport, discipline, ambition, practice, and other athletic traits.
Nike has totally changed the sports footwear and sportswear market. Nike's huge selection of merchandise consists of specialized workout equipment, footwear, clothing, accessories and sports components. Nike is among the world's biggest brands and a leader in the sportswear industry because of their advertising, innovative products and sponsorship of top teams and
6). This strategy is a major component of Nike’s business strategic level plan. In applying this strategy, Nike has attained a great deal of consumer insight, which it uses to offer uniquely designed premium products to the athletes. Still on product differentiation, Nike focuses more on research and development at a greater level. These unique features to Nike, have transformed the competition levels in this competitive industry, leading to a trend of a paradigm shift in the market. Most consumers opt for Nike branded sports products and apparels, at the expense of the other brand names.
Nike is one of the largest athletic retailers in the world and the most important lessons learned when studying the successful brand include focusing on building a strong brand and the implementation of innovations. What is the first thing that comes to mind when you say or hear the word Nike? Just Do It! Swoosh! Kobe Bryant. Air Jordan’s, maybe? Well those are just a few of the many ways in which Nike has successfully managed to grow its brand. The prevalence of the Just Do It! tagline, along with the Nike swoosh, has allowed its customers to identify the brand without Nike having to say it continuously. Nike has managed to create strong emotional ties through the constant use of imagery and messages.
It expanded its products to selling sports related apparels rather than just sneakers; Nike transformed shoes into status symbols with seasonal model changes to appeal as cool or be in the youth or hip hop culture. They became alert to the changing current market trends today so that new products and new advertising will have more impact in the market by giving consumers what they want, appealing to their psychological and physical needs.
For some time now Nike has been making a breathtaking promtion deal and sponsoring with popular althlets from different sports. Michael Jordan, Mia Hamm, Venus Williams, and some of the popular althlets that
To this point Nike has been able to resolve these issues and fight off most of the threats it has encountered. They will be able to do this as long as they maintain their strong management and leadership team, maintain their strong customer loyalty, maintain their dominant presence on social media and through e-commerce, continue to provide an innovative and a diverse range of products, and if their brand recognition and image remain high. If they can do all of this or “Just do it!” they will continue to be the world's largest suppliers of athletic shoes and apparel and a major manufacturer of sports
Nike is known as one of the most consistently innovative companies for its technologically advanced products. As Nike stated, Innovation is the company’s heart in its business growth strategy because it helps them to become more sustainable company and to keep up with the competition and customer demands (nikeandunderarmour.com, 2015). Therefore, Nike vision innovation is a key business success of the company. It invests
Nike is a marketing trailblazer. Its commercials are so unique and iconic that every new advertising campaign is analysed by industry watchers and experts, and
NIKE‘s unique value proposition has been on the innovative design, finesse and quality of their Product line. Innovation has been a constant driving factor of NIKE since its inception.
One of Nike’s main opportunities is product development. Developing their product range makes them more competitive and because products tend to go out of fashion quickly, Nike must introduce new products relatively fast because consumer demand the newest and latest products. Increase in internet shopping will no doubt reduce the cost and improve prices making them even more competitive.
Nike, Inc. has been the world’s leading innovator and provider in athletic footwear, apparel, equipment and accessories for 50 years. Their mission has been to bring inspiration and innovation to every athlete in the world; if you have a body, you are an athlete. Arguably one of the most innovative companies in the world, Nike has built its brand into an iconic world-class powerhouse that continues to dominate the market with no signs of slowing up. Nike’s marketing and advertising have been breakthrough, aspirational, and legendary over the years, featuring high-profile athletes and heroes.
Adidas Group, as one of the world’s retail leaders in sportswear, has as primary target the sports participants, including high performance athletes, as well as non-athletes who are inspired by those at the highest level of their sport, and those that really love sports as part of their lives.