Nike is an American multinational corporation that is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. It is one of the world’s largest suppliers of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$24. 1 billion in its fiscal year 20. As of 2012, it employed more than 44,000 people worldwide. The brand alone is valued at $10. billion, making it the most valuable brand among sports businesses. The company takes its name from Nike (Greek ???? , pronounced [ni? k?? ]), the Greek goddess of victory. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of “Just Do It” and the Swoosh logo. Origin development and history Nike, originally known as Blue Ribbon Sports (BRS), was founded by University of Oregon track athlete Philip Knight and his coach Bill Bowerman in January 1964.
The company initially operated as a distributor for Japanese shoe maker Onitsuka Tiger . According to Otis Davis, a student athlete whom Bowerman coached at the University of Oregon, who later went on to win two gold medals at the 1960 Summer Olympics, Bowerman made the first pair of Nike shoes for him. In 1964, in its first year in business, BRS sold 1,300 pairs of Japanese running shoes grossing $8,000. By 1965 the fledgling company had acquired a full-time employee and sales had reached $20,000.
In 1966, BRS opened its first retail store, located at 3107 Pico Boulevard in Santa Monica, California next to a beauty salon, so its employees no longer needed to sell inventory from the back of their cars. In 1967, due to rapidly increasing sales, BRS expanded retail and distribution operations on the East Coast, in Wellesley, Massachusetts. By 1971, the relationship between BRS and Onitsuka Tiger was nearing an end. BRS prepared to launch its own line of footwear, which would bear the Swoosh newly designed by Carolyn Davidson.
The Swoosh was first used by Nike on June 18, 1971, and was registered with the U. S. Patent and Trademark Office on January 22, 1974. In 1976, the company hired John Brown and Partners, based in Seattle, as its first advertising agency. The following year, the agency created the first “brand ad” for Nike, called “There is no finish line,” in which no Nike product was shown. By 1980, Nike had attained a 50% market share in the U. S. athletic shoe market, and the company went public in December of that year. ] Together, Nike and Wieden and Kennedy have created many print and television advertisements, and Wieden and Kennedy remains Nike’s primary ad agency.
It was agency co-founder Dan Wieden who coined the now-famous slogan “Just Do It” for a 1988 Nike ad campaign, which was chosen by Advertising Age as one of the top five ad slogans of the 20th century and enshrined in the Smithsonian Institution. Walt Stack was featured in Nike’s first “Just Do It” advertisement, which debuted on July 1, 1988. ] Wieden credits the inspiration for the slogan to “Let’s do it,” the last words spoken by Gary Gilmore before he was executed.. Throughout the 1980s, Nike expanded its product line to encompass many sports and regions throughout the world.
Fig-Old logo of Nike, Inc- Environment analysis of Nike,inc An excellent companies take an outside inside vie of ther business. It monitors the changinging environment and continously adapt their businesses to their best oppurtunities. Over the last 20 years, the marketing environment has been changing rapidly. It is important to have a sturdy focus on the customers and heavy dedications are indispensable. Besides, fulfilling customer’s needs and wants are crucial issues in any successful customer (Kotler & Armstrong 2005:p5).
To be thoroughly familiar with all the different roles in the marketing environment such as producers, suppliers, intermediaries and competitors and also the environmental factors such as demographic environment, economic structural environment and technological environment, companies need to be capable to guide an organization to look at their opportunities and threats in the market. To point out the significance of the marketing environment, Nike is applied as an example in the retail business sector.
Nike’s management examines its internal (micro) environment by making evaluations attributed to that examination, seeing what consumers would expect in their products which is also called their target market, and how the external(macro) environment assembles and reconstructs that. Because of this marketing analysis, the company has made the decision to revitalize its apparel division to be more fashionable, and they’re shoes to be designed more modernly and creatively. Nike creates and designs its products for all ages, people and both sexes No matter men, women or children.
Running, cross- training and football is some of its top selling product categories. Nike’s marketing environment are affected by factors like social factor that deals with people’s values, demographic factor which is people’s age an race, economic factor such as income and inflation and technological factor such as production effiency and product quality. Because of all these factors, Nike acquires information on how to improve current products, what could be changed and what should be the best for future products. By doing so, Nike is keeping ahead of and leading competition.
Courtney from Study Moose
Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/3TYhaX