Nike Company is recognized to be one of the top performing active wear company in the world. With the reduced growth in the clothing market, there is, however, an increase growth in the active wear market. On the other hand, Nike Company has been offering service to one million of customers in the whole globe with their products moving to more than one hundred and sixty countries around the world. The company has successfully offered services to their consumers both online and offline with the Internet playing a significant role of employing different strategies so as to maintain its competitive edge within the industry and to make the profit in the market(Soni).
Since technology is one of the current pillars to managing competition and significant elements that are frequently changing in the retail market and the sporting market as well, the demand to possess the most recent fashion trends revolves in their shoes, sporting equipment, sunglasses, and clothing so as to come up with more money (Mahdi). Notably, Nike has one of the largest acceptances of their products in the whole world, different clients have preferred Nike over their customers as a result of their brand names and what marketing strategies the organization is adopting so as to stay current.
Putting the focus on the key benefits and the general market share, Nike as a company owns eighty percent of the United state's shares with two point six billion markets with the shares experiencing a yearly increase and tremendous growth just because of the brand name. On the other hand, one of the close Nike competitors who is recognized as Adidas, are having their shares traded at only about fourteen percent, with Adidas being a growing market company but it remains to be viewed to be growing at the cost of Nike. Ideally, through the nature of competition in the active wear, other brands are shown directly by the Nike company.The sad story is that competitors that do not stand out have been identified bankrupt and unable to compete in the market.
The company has invested in different products, moving from boots, tennis shoes, cleats, apparel such as Jerseys and tops at various equipment and accessories like balls, watches, and bags. Though Nike as a company has tried to diversify and focused on different products, their primary emphasis has been placed on shoes which have stayed to be their dominant product offering ( Deng). For every Nike team to be unique, high performing and inclusive, to obtain the vision the company is working hard to build diversity and inclusion so as to make a world class and a team that is on top. Nike has the larger vision of environment and venues for diverse opinions, open dialogues and a multitude of perspectives to manage competition.
When it comes to making their product known to the market and making sure that their products are available to their customers, the company has set retailers to interact with their customer, Nike town retail outlets and Nike official online stores with the retailers being one of the best places where the selling is happening. When it comes to the companys marketing strategy, it is very significant that Nike as a company is adopting personal selling, investing so much on advertisement, sales promotion, direct marketing and concentrating on their target market who are kids who play sports at school, active ladies who are in their thirties and twenties, marathon runners, trainers and long distance runners.
Deng, Tianbai. "Just Done It---Nikes New Advertising Plan Facing Global Economic Crisis." International journal of business and management 4.3 (2009): 102.
Mahdi, Ali, et al. "A comparative analysis of strategies and business models of Nike, Inc. and Adidas Group with special reference to competitive advantage in the context of a dynamic and competitive environment." International Journal of Business Management & Economic Research 6.3 (2015): 167-177.
Soni, Phalguni. "An Overview Of NIKEs Supply Chain And Manufacturing Strategies." (2014).
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