Nike Marketing Strategy Review - 1044 Words

Murad Tahirov Marketing Spotlight-Nike The Nike story begins with its founder, running enthusiast Phil Knight. In 1962, Knight started Blue Ribbon Sports, the precursor to Nike. At the time, the athletic shoe industry was dominated by two German companies, Adidas and Puma. Knight recognized a neglected segment of serious athletes whose specialized needs were not being addressed. The concept was simple: Provide high-quality running shoes designed especially for athletes by athletes. Knight believed that high-tech shoes for runners could be manufactured at competitive prices if imported from abroad. Without much cash to do any advertising for his products, Knight crafted his grass roots philosophy of selling athletic shoes:†¦show more content†¦Though the company had become a household name throughout the world and, more important, achieved the position of global sportswear leader, Nike was still $3 billion shy of reaching the goal of $12 billion that Phil Knight initially intended the company to reach by 2000. In a letter in Nikes 2000 annual report, Knight addressed the issue of how to jumpstart his companys slowed growth and offered the following formula: We need to expand our connection to new categories an d toward new consumers. This quotation is indicative of Nikes relentless drive to build its brand with a strong consumer focus. 1. While Nike made significant changes to maintain its global leadership position, there appear to be some problems in maintaining and growing that position. Is Knight correct in his formula for jumpstarting Nikes growth (last paragraph), or is the matter more complicated? As we could see from the history there are number of competitors of Nike in the market, which trying to catch essential part of the athletic clothes market, and continually bring to the market new/innovative products. I think the Knight formula is quite right, since Nike could not be able to maintain its position and even growth without exploring and expanding of needs both of new consumers, and alreadyShow MoreRelatedNikes Approach To Compete International Case Study1234 Words   |  5 Pagestime they were distributing running shoes for a company in Japan. (Nike, 2015). One could say they were ahead of their time and true visionaries; moreover, they were doing business with a foreign country and would soon branch out to Asia. 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