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Nike: Business Strategy - Research Paper Example

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\ Nike: Business Strategy Name: Institution Date Background Nike is a sportswear company that was established in the year 1957 by two young entrepreneurs with an intention of satisfying clothing needs of athletes. Primarily started as a store to import and distribute footwear products from a Japanese company called the Onitsuka Company, it went on to become an independent store after realization of profit limitations imposed by the latter…
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Download file to see previous pages The first market segment was in the United States of America, specifically in Oregon (Smith, 2012). Having operated in different names such as NIKEY and other names, before the 70s, the company first acquired its first design in the year 1971 at a cost of only $35.and acquired incorporation as Nike Inc. in the year 1978. at around this time, the company grows in terms of company infrastructure and its headquarters was opened in Beaverton, Oregon. The company later expands to other markets outside the U.S to regions such as Asia, where numerous manufacturing plants were opened. This expansion marked the first step towards global competition (Smith, 2012). At the end of the seventies, the company launched one of its most famous products, Nike Air, which began as a form of manufacturing technology. In the early eighties, the company took almost a half of the share capital of athletic footwear sold in the market. By employing traditional methods of communication, the company embarked on a serious campaign for reputation through spread of positive reviews from its customers and potential ones. It never made any electronic advertisement up until 1982 but still its reputation grew beyond expectation. But before then, the company had gone public and received a good response that saw it trade millions of shares all over the world. During the 1984 Olympic Games, athletes use Nike’s footwear products and thus showcase the company uniqueness in this provision. Since the company devised a mechanism whereby product brands were associated with great sportsmen, in 1985, the company formed a brand associated with the then young basketball superstar, Michael Jordan but its official launch happened in 1997. With engagements in newer advertising technologies, the company formed advertisement slogans, Just Do It, that experienced positive reception all over the world in 1988 and at this time, its revenue grew over one billion dollars. Toward the end of the millennium, the company had grown to world popularity and controlled almost all sports footwear, kits and had numerous endorsements. In the nineties, the company had embarked on using great sportsmen in its advertisement campaigns and consequently in this period, Tiger Woods and Jordan were endorsed in deals worth almost a hundred million dollars. In the beginning of this millennium, the company gained global dominance in the production of sportswear and tools such as balls. FIFA had adopted the company’s trademark and subsequently contracted it to be the official company providing sportswear and balls. It also engaged in the production of sticks for sports such as hockey. During this time too, the company diversified into the fashion industry and thus increased its revenue base whereby it launched products such as Air Force shoes, Sweaters and fashionable jeans and shirts (Smith, 2012). Current market position Currently, the company still stands as the world’s leader in manufacture and provision of sportswear and balls. It also has one of the largest fashionable shoes in the world. Although most of its products are relatively expensive, the company has maintained quality over the years and its products are of unquestionable standards. The company also is listed among the top two hundred companies in the world. With a total of more than three ...Download file to see next pagesRead More
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