Swot Analysis Of Nike

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Alongside global super brand giants, such as Apple, IBM, Disney and Coca-Cola, Nike has arguably become the world’s top lifestyle, athletic sportswear brand. It has revolutionized not only the athletic apparel and footwear industry, but also industry consumerism as a whole. In fact, Nike was ranked #16 on the Forbes World’s Most Valuable Brands list in 2017, with brand valuation at $29.6 Billion USD, brand revenue of $31.7 Billion USD and company advertising accruing $3.3 Billion USD (Forbes.com, 2017). To credit this worldwide level of financial success, brand awareness and fanatic consumer following, Nike has meticulously sculpted a superior international marketing strategy consisting of strong positioning, orientation and branding.…show more content…
Segmentation Although Nike may have started as a product-oriented, running shoe company, it realized early on there was a demand to not only expand its product mix to not be just exclusive to track and field performance, but also be inclusive of both athletic and non-athletic consumers alike. In turn, this influenced the current Nike Mission Statement, aimed to inspire all consumers, whether you’re a Serena Williams of tennis, a fitness hobbyist or just a consumer of athleisure: To bring inspiration and innovation to every athlete* *If you have a body, you are an athlete (Farfan, 2017). As such, Nike has expanded its product mix to cater to all consumer needs and segments its target markets into various categories: Women’s (Running, Training, Sportswear), Men’s (Running, Training, Sportswear), Young Athletes, Golf, Soccer, Basketball, Football and Licensing. As a result, Nike has become much more market-oriented and as stated by Phil…show more content…
As described in a study by Urde, Balmer and Greyser, “brand heritage is one way to strengthen corporate-level marketing for those organizations where heritage applies… heritage is an integrated component of the character of such brands” (Urde, Greyser and Balmer, 2007). There are three branches of brand heritage in which a company can be categorized into: 1) Retro branding; 2) Heritage marketing and; 3) Iconic branding. Nike falls into the latter, Iconic branding, because it is an iconic, “culturally dominant and distinctive” (Urde, Greyser and Balmer, 2007) brand which reaps extreme brand loyalty to the point of being a brand cult. It celebrates and honors its heritage through products, endorsements and marketing campaigns in order to make its past relevant to the present. In true Nike fashion and in fulfillment of Maxim #1 and #11 previously mentioned above, Nike emphasizes innovation and remembrance in all aspects - whether that’s product or marketing

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