Nike market analysis essay

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Nike market analysis essay

The Factors that Led to Success and Failure of Nike in its Venture across International Markets Nike is considered to be one of the largest American suppliers of athletic shoes, apparel, and sports equipment.

At the same time, this company and its brand are well-known worldwide. To a significant extent, this is the result of the strategy of the international markets expansion that is one of the main directions of the strategic development of the company.

Obviously, this strategy provides the company to enter new markets and strengthen its position in Nike market analysis essay ones. At the present moment, the strategy of expansion is particularly important since the world economy tends to globalization and nowadays, multinational corporations, such as Nike, can hardly locate production in one country only but need to organize production in the regions which are either closer to the target market or where the production is substantially cheaper to the extent that the production in remote regions remain profitable even if the products are sold in a different part of the world.

However, despite the obvious progress and recent achievements of Nike, its leading position in many national markets throughout the world, its development and expansion was accompanied not only by remarkable successes but also by some serious failures which deteriorated the position of the company in very perspective markets.

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Company Profile Nowadays, Nike is one of the most popular trademarks which is basically focused on the production of athletic shoes, sports equipment and apparel.

The company is based on Beaverton, Oregon where it was initially founded on the basis of its predecessor Blue Ribbon Sports in late s. Since its foundation the company was characterized by the rapid growth and development.

In this respect, it is necessary to underline that one of the basic missions of the company was to gain a possibly larger share of the market. In such a way, the company attempted to create the image of its products as if these were products destined to the best sportsmen but accessible to average people, even though they are far from sport or sport achievements.

Nike market analysis essay

It should be pointed out that during the first decade of its existence the company has managed to attract leading sportsmen in its advertising campaign. For instance, Steve Prefontaine, an American record holder, and John McEnroe were among the first famous sportsmen who signed contracts with Nike and contributed to the growth of its popularity.

Consequently, it was quite provocative and unusual that the company signed the contract with this sportsman, though such seemingly illogical and probably inexplicable or arguable decisions became a norm for Nike and, even nowadays, it is possible to find similar examples.

However, in the course of time it became obvious that the national market is insufficient for the company and it needed entering foreign market. At this point the contracts with famous sportsmen known throughout the world turned to be very helpful. On the other hand, it is also necessary to underline very successful marketing and promotional policy of Nike.

It should be said that to achieve positive results Nike signed a contract with Michael Jordan a basketball star. However, the effect was probably unexpected as this ban has drawn an enormous amount of publicity 7. However, the company, being steady progressing during ss, faced a perspective of a serious crisis in the late s-early s.

Marketing Analysis of Nike -

Basically, the company has already gained international acclaim and was popular in many countries of the world but the production of athletic shoes and sports equipment in its traditional regions, including the USA, Europe, and Japan became less and less profitable.

This is why Nike turned to be able to shift the production from its traditional regions to new ones making the production cheaper but preserving sales rates due to the popularity of Nike brand.

To put it more precisely, worldwide revenues for the third quarter of increased eight percent to USD 3 billion, while revenues from the US, its traditional market, declined two percent two percent to USD 1,25 billion Consequently, it is quite natural that Nike heavily accounting on overseas sales for revenues growth.

Moreover, in Nike reported annual revenue for fiscal year of USD 15 billion. At the same time, the company keeps signing contracts with leading sportsmen to promote its products throughout the world.Read the IELTS globalisation essay.

Differences between countries become less evident each year. Nowadays, all over the world people share the same fashions, advertising, brands, eating habits and . Market Analysis of Nike Julie Wilderman BUS Principles of Marketing Professor David Kalicharan August 08, Market Analysis of Nike One important issue marketers need to realize is that it is essential to have a heavy commitment and solid customer .

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This report is all about to show a Marketing plan for Nike’s products; with reference to older offerings the report shows the plan that how can Nike offer new products in the market. 2Write includes extensive database of Report Writing Samples explaining about Introduction All organizations need to expand themselves locally and globally.

For this, they adopt and frame different strategies to succeed themselves. Thus, external environment is scanned thoroughly and analyzed. Later the strategies are adopted and implemented. Nike is the leading corporation in the world, which deals in equipment supply & sportswear.

It is a US based company and established in by Bill Boverman & Philip Knight in the name of Blue Ribbon Sports. Later it was changed to Nike Inc in Headquarter of the company are located in Oregon.

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