The key success factors for Nike Essay Essay Example

The key success factors for Nike? Essay Essay Nike. originally known as Blue Ribbon Spots is involved in the design. development and world-wide selling of footwear. dress. equipment and accoutrement merchandises which started its journey in early 1962. In about 200 states with around 18. 000 retail histories Nike is now the largest marketer of athletic footwear in the universe. The company focused on presenting high quality running places designed particularly for jocks by jocks. Behind its success. among many factors two cardinal factors can be easy seen which are Advertising and Marketing. Nike placed a important weight on selling and publicizing the company and its merchandises. Nike strongly bonded the contracts with extremely successful and influential jocks. managers. squads like Michael Jordan. Serena Williams. and Tiger Woods to popularise its places and other athleticss accoutrements. In its advertisement runs. Professional jocks were used which was proved both effectual and efficient. Nike besides actively followed and applied some selling programs and plans to prolong its laterality in the industry and remain competitory. Like Nike Responded to tendencies and alterations in consumer penchant by seting the mix of bing merchandise offerings. developing new merchandises. manners and classs. and influencing athleticss and fittingness penchants through its aggressive selling. Nike marketed and advertised its merchandises chiefly through Television. magazines. and runs which besides were effectual and efficient. We will write a custom essay sample on The key success factors for Nike? Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The key success factors for Nike? Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The key success factors for Nike? Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Where is Nike vulnerable? What should they watch out for? There is a fact ; Nike was asserted in utilizing famous person indorsements in their advertizers and runs. But they need to maintain in head that they should non allow the famous persons become their trade name image. If it was so. the company would run the hazard of decreasing the trade name every bit shortly as famous person becomes faded. But in the early age. they did non believe about the job that might lift by registration of single jocks ; because at a clip. people dies andnew people come in. So in such a instance ; if a famous person is Nike’s trade name image it will be lost every bit shortly as the famous person is no more. or in this instance the trade name has fallen. Nike can watch out the undermentioned things to watch out for their trade name: 1. Choosing a interpreter whose features are similar every bit good as congruent with their trade name image. 2. Nike trades with lone one merchandise line ; which is footwear. In this circumstance. Nike should watch out for merchandise variegation in order to increase their portion in the U. S market every bit good as the planetary market What recommendations would you do to their senior selling executives traveling frontward? Anyone’s short list of the world’s taking trade names would certainly include Nike. the planetary icon for the athletic places. The Nike trade name has become so strong. Brand direction is one of Nike’s many strengths. Consumers are willing to pay more for trade names that they judge to be superior in quality. manner and dependability and Nike has acquired the stigmatization image with its engineering based production methods and alone selling scheme. It is thought that utilizing professional jocks in advertisement run is both effectual and efficient. But today. athletic places market is really much competitory. Numbers of rivals are increasing twenty-four hours by twenty-four hours. They are besides seeking to take the portion of the net income by making trade name image in the consumers mind. As Nike has already created the trade name image to the consumers mind. selling directors ever need to be watchful to do certain to stable the trade name image. Nike reduced its production cost by importing places from abroad. But marketing executives should maintain in head that quality affairs. If cut downing cost reduces quality. sellers should non travel after it. Because quality cavities trade name image and that’s why quality should ever be increased to vie with the rivals. Nike is fabricating athletic places. If it tries to convert consumers to alter the usage form of these places. like they may utilize those places casually or at place. sells may increase. They should diversify the form of places. Nike can besides come in into other market relates to the footwear market to diversify its market portion. They are aiming merely the immature people clients. But a big metameric group of old and child group is non targeted. Nike can do footwear for the old and kid besides. For capturing local markets. Nike needs to plan and fabricate footwear for the local athleticss. Though Nike is fabricating athletic places for approximately more or less 30 athleticss. but there are many other local athleticss in different states. If Nike does this. it can besides get the better of local trade names and can besides increase its abroad grosss more. What should they be certain to make with its selling? 1. Nike should be certain supplying the nucleus values of the trade name what is the base construct of the trade name. Organization should utilize it as their singularity of their merchandise quality. characteristic and. after the full trade name image. 2. They should be cared of the selling run of the interpreter as if there are no anything unrealistic attitude high spots for which the people’s perceptual experience can be converted negatively. Spokes individual map should be influence able to all types of people. 3. For presenting their merchandise in the foreign market. they have to see the local market. their civilization and faith for the selling advertisement. run. Some state has traditional norms of civilization A ; strong believes in faith. 4. In footings of making a highly-flavored psychological value in the consumer head. they should guarantee come offing in assisting the many current catastrophes. Particularly. the recent issue â€Å"Anti-Global worming† plan obviously can do a better idea about the corporation. 5. In the Asia. Nike is non still that much popular as it is in the America A ; Europe so for ruling the Asiatic states and do its root in the deep of the market it has to be certain the maestro selling program. Although Nike is the market dominator in the athletic footwear market. it should be certain it’s strategic selling program for spread outing its field towards more headlong and conspicuously.