Brand equity is a major strength for any brand. Moreover, product innovation has become important due to the fast changing preferences of customers. Brand equity is a major strength for any brand. Nike has outsourced nearly all of its production. Apart from that, the brand has outsourced most of its production to external suppliers. However, compared to Under Armour, both Nike and Adidas are more aggressive for growth and expansion. (See appendix 1) Therefore Nike has gained competitive advantage through innovation, of which Nike Sphere is an example. The brand has managed a heavy focus on research and development to bring innovative products as well as footwear and apparel made from sustainable material to the market. The company has employed several methods to increase customer loyalty. Further to this, it is having a 10 year deal with NBA, WNBA and MBA development league. Nike is being extremely pro-active in innovating products that meet Generation Y’s tastes and purchasing methods. In addition other sportswear manufacturers also expand their portfolio. If you talk about a possible poor health outcome, do you believe that outcome will occur? As a brand, Nike is deeply connected with sports and strives to encourage sports fans throughout the world. 1st Jan 1970 Competition in the athletic wear industry has increased a lot. One of these factors is branding. Apart from its Swoosh logo which can be identified easily from among the crowd of brands, there are several things outstanding about its marketing. Nike’s strong focus on innovation is tied to its business strategy. Hi there! It is why innovation is a core focus for Nike and its rivals like Adidas and Under Armour. As of 2019, Nike has 768 stores located in international markets and 384 in the United States. Company often seeks to achieve both productivity and differential advantages but few succeed. However, when it comes to marketing very few are as excellent as Nike. These tactics proved to be a good practice to drag youth attention. Over the years, Nike has been able to develop and establish a very strong brand name among their target customers. Looking for a flexible role? The company was incorporated in 1967 and is the largest seller of athletic footwear and apparel in the entire world. Nike is a customer-oriented brand and customer loyalty is a strong source of competitive advantage for it. To compete with powerhouse Nike, Adidas merged with Reebok. NIKE competes with numerous … Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Training and Sportswear. The brand engages its customer through inshore and online promotional. A well-synchronized manufacturing, distribution and retail network helps Nike to cater to demand better. The sneaker giant can simply outspend other sports-apparel retailers, Siegel wrote in a note out to … These are well established channels. They buy it for the experience, value and the emotional benefit that the particular product provides. It sells products that are excellent in terms of design and quality. Describe the big data (what it is and how it is used). Big is a term that describes extremely large data sets that may be analyzed computationally to reveal patterns, trends, … It affects the business more or less in a negative manner. There is strong competition in the shoe industry. Customer trust, customer experience as well as customer engagement are among the several factors that together affect band equity. The above graph shows market share of sport shoes sold on 2009.The main players are Nike and Adidas. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on the UKDiss.com website then please: Our academic writing and marking services can help you! This is also why the customers love Nike. A large and diverse range of popular products has created a unique advantage for Nike. In the United States, NIKE has seven significant distribution centers, five in Memphis, Tennessee, and two other distribution centers, one in Indianapolis, Indiana, and one in Dayton, Tennessee. People are looking for stylish and durable products. To attract more customers, nikeid.com allowed them to design and personalise their brand resulting more than 3, 00,000 unique visitors a day. October 23, 2020. make a movie October 23, 2020. Marketing Customer loyalty is difficult to gain in the 21st century because of several factors including competition and changing consumer preferences. It has maintained a strong and unique brand image. Disclaimer: This work has been submitted by a university student. Its financial performance has kept growing over the years which is evident in how Nike’s revenue has grown over the past five years. It uses a mix of traditional and modern methods and tools for marketing. However, proper management of the supply chain and manufacturing has enabled the brand to produce superior quality products while also keeping costs under control. In the late 1990s, Nike reduced costs and the selling prices of its athletic shoes and other products. Sustainable competitive advantage is when one company’s value creating products are impossible to imitate by its competitors. It engages and encourages sports lovers through promotional videos. Start with: Competitive advantage simply means what the company is best at. Innovation :-. No plagiarism, guaranteed! Apart from Nike, the other subsidiary brands including Jordan, Converse and Hurley also target distinct customer segments and sports fans. It is a customer-oriented brand that knows its customers inside out. Well, they JUST DID IT and are doing it. By following this law, Nike is investing heavily and successfully in marketing its product. It has 384 stores in the US and 768 in the international market (2019). NIKE is globally the largest brand of athletic footwear and apparel. We are experienced and have access to ample research materials to guarantee quality A+ papers. Athleisure products have grown increasingly popular in recent years. However, it is also the style, quality and focus on product innovation that has helped Nike grow its global network. The way Nike smells the opportunities and the way it approaches problems makes it unconquerable. Independent contractors manufacture virtually all of its products. Free resources to assist you with your university studies! Adidas is on its way to launch a new innovative campaign praising the team spirit. Nike has managed a strong supply chain and manufacturing network which helps it to cater to popular demand with agility. In the world of fashion and athleticwear, celebrity promotions including both sports and cinema celebrities is quite common. All work is written to order. This is a distinct competitive advantage that has kept Nike ahead of its rivals. However, apart from that it also spends on online and offline advertising. How Nike has become the biggest player of the game? Moreover, it has focused on customers’ taste and changing preferences. Though Adidas web site is slightly more favourable in user friendly functionalities, it lags behind on Nike’s overall site appearance. Apart from investing in design and quality, the brand has also employed a great business strategy and focused on customer service. It has outsourced most of its production. Outsourced Manufacturing Units: Nike receives footwear from more than 140 factories located in 13 countries across the globe. http://3.bp.blogspot.com/_TjMfUmrr8Gs/SxPoEUasjEI/AAAAAAAAAFI/Az-8n9gq07U/s1600/…………..NIKE_Swoosh.gif. Its diverse product portfolio caters to diverse customer segments. CompetitorsThe rivalry in the sports wear industry is very high. Nike Inc. is very good at adapting to the changing markets. In the case of Nike, it is an important part of its core business strategy which is to create a unique place in its customers’ hearts. It offers products mainly in six categories which include. All Rights Reserved. Investing in R&D has helped gain a large market share and the popularity of Nike products has also grown. It offers products mainly in six categories which include Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Training and Sportswear. Within the USA there are 18000 stores that retail Nike products. Nike has brought a large product range to the market. It is globally famous as a brand of stylish sports shoes and apparel. However, marketing is not solely for promotions or to retain customers. Nike is a global brand. In fiscal 2018, it spent around 3.6 billion dollars on advertising and promotions. © 2020 Homework Handlers. 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