A logo like a tick mark or a “V” shaped mark which is become so popular and now it’s known as NIKE. Nike was started from 55years ago. In these 55 years, it has become so popular that nowadays it’s categorized between most premium shoes brand. US-based NIKE has now become a worldwide leader in sport’s shoes and apparel.
Nike has expanded its stores so rapidly in the worldwide. Nike has 674 stores in 2009 but in 2018 it has 1182 stores all over worldwide. According to a research Nike has 11.52 billion U S dollar profits in 2010 but in 2018 it goes up to 22.27 billion U S dollar. This figure has very close to its competitors Adidas and Puma. Adidas made 12.78 and Puma made 2.5 billion U S Dollar.
Nike has a very good marketing strategy and to increase its market value Nike sponsor many high-profile athletes like Cristiano Ronaldo, Rafael Nadal, Lebron James, and Rory Mcllroy to use their products and promote and advertise their design & style. Nike also manufactures and provides kits or sports kits (uniforms) for sports teams like Barcelona, Manchester City, and Paris Saint-Germain and many U.S. colleges as well.
Nike has tied up with many fashion designers to compete with the competitors and produce new clothing style according to trend and to widen their product. Nike has started thinking about less formal dress categories for both men and women.
SWOT Analysis of NIKE
STRENGTH – Strong brand awareness
Rapid innovation processes
worldwide production and distribution network
WEAKNESS – Labor controversies
Limitations in the product mix
Less presence in developing markets in the customer’s mind
OPPORTUNITIES – Improve labor/employment practices
Improve the product mix
Increase market presence in developing countries
THREATS – Tough competition
Rapid technological innovation
Nike recently signed a contract with Apple Inc. to produce the Nike+ product that monitors a runner’s performance from a radio device in the shoe that links to the iPod nano. While the product generates useful statistics, it has been criticized by researchers who were able to identify users’ RFID devices from 60 feet (18 m) away using small, concealable intelligence motes in a wireless sensor network.