Marketing
- Submitted by: jcr6624
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- Category: Other
- Date Submitted: 03/15/2015 04:31 PM
- Pages: 7
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Competitors
Nike
Nike is one of our major direct competitors in our market. Nikes sales revenue for 2013 were at 27.8 billion (LexisNexis). Nike has flourished with major increases in their sales revenue over the past few years.
(Yahoo Finance)
What has contributed to their massive sales is the way they market themselves. Most of their marketing strategy has been derived from their product image that has developed over a long period of time. They’ve made their Nike check mark a house hold name, they invest in their commercials and also their product promotion. One of the ways Nike has established their image is from sports. Whether it be a college team or even the NFL they have made their mark in sports. This has been a key selling point since this makes a consumer think if a major, successful player is using this product that means I will be successful in sports too if I use this product. They portray their brand to the public with, number one, the use of television. As I mentioned earlier the most important way Nike markets their product is through athlete endorsement. There are a wide variety of sports channels a consumer might watch and see the brand an athlete is wearing. Another way they use the television is through commercials, in which many well-known athletes also participate in. They can also contact potential consumers through the use of social media. For example, they have a twitter account that displays pictures of their latest shoes and is able to interact with their customers and potential customers online.
Nike has many strengths when it comes to their company. One strength Nike has is it has carried out their brand worldwide. It has expanded from the US to many other countries such as Asia and China. Another strength Nike has was its ability to create itself into a household name. Whenever you see the Nike swoosh you know exactly what that brand is and the quality shoe they produce. One last strength is their ability to...
Nike
Nike is one of our major direct competitors in our market. Nikes sales revenue for 2013 were at 27.8 billion (LexisNexis). Nike has flourished with major increases in their sales revenue over the past few years.
(Yahoo Finance)
What has contributed to their massive sales is the way they market themselves. Most of their marketing strategy has been derived from their product image that has developed over a long period of time. They’ve made their Nike check mark a house hold name, they invest in their commercials and also their product promotion. One of the ways Nike has established their image is from sports. Whether it be a college team or even the NFL they have made their mark in sports. This has been a key selling point since this makes a consumer think if a major, successful player is using this product that means I will be successful in sports too if I use this product. They portray their brand to the public with, number one, the use of television. As I mentioned earlier the most important way Nike markets their product is through athlete endorsement. There are a wide variety of sports channels a consumer might watch and see the brand an athlete is wearing. Another way they use the television is through commercials, in which many well-known athletes also participate in. They can also contact potential consumers through the use of social media. For example, they have a twitter account that displays pictures of their latest shoes and is able to interact with their customers and potential customers online.
Nike has many strengths when it comes to their company. One strength Nike has is it has carried out their brand worldwide. It has expanded from the US to many other countries such as Asia and China. Another strength Nike has was its ability to create itself into a household name. Whenever you see the Nike swoosh you know exactly what that brand is and the quality shoe they produce. One last strength is their ability to...