Founded on January 25, 1964, Nike, a multinational American corporation located in Beaverton, Oregon is involved in the production of sportswear, equipment, accessories, and services. The iconic corporation operates globally with an operating income of $4.175 billion and a net income of $3, 273. The number of employees working across the world includes 62, 600.
Nike, Inc’s is the most dominant supplier of apparel and athletic shoes as well as a leading manufacturer of sports equipment. It outshines its rival Adidas, the second largest German sportswear designer and manufacturer.
The iconic organization’s overwhelming success is attributed to a variety of factors, including
- Prestigious name brand
- Superior merchandizes
- Dynamic acquisitions
- Apparels-shoe wear, shirts, pants, jackets
- Accessories-baseball caps, socks,
- Sports equipment-tennis, basketball, football, soccer etc.
The Power of Brand
People are attracted to popular brands because of superior performance and longevity. The brand is also associated with some of the world’s most outstanding athletes and sports teams. Ordinary fans who see the Nike logo on the jerseys, shoe wear, banners, and other accessories are motivated to go and buy the products.
Another key to the corporation’s success is its acquisitions of several popular brands, including Converse, Bauer Hockey, and Hurley International just to name a few. When an organization acquires a struggling rival the customers also come with the package.
Who Does Nike Target?
Professional sports leagues, including basketball, baseball, golf, tennis, long distance running, track and field and the like, are the targets that Nike loves. The popular sports manufacturer specifically targets highly talented athletes to promote its brand.
Great athletes are idolized by millions of people who desire to be like them. Understanding that fans are often tempted to purchase whatever clothing, equipment or accessories which their favorite stars wear, it pays great athletes on and off the field, to promote its products and services
Ranking in its field relative to competition
Corporations which rise to number one has several rivals in which they must keep at bay. Nike’s greatest rival happens to be Adidas, Puma and other less popular brands. However, the greatest of these rivals is Adidas, an international German corporation which designs and manufactures sportswear, equipment, and other accessories.
To stay the most dominant in the marketplace, Nike will have to continue to outshine its Adidas rival via promotions, superior products, and services.
My Final Opinion on Nike
I rate Nike a 10 out of 10. The Nike brand is prestigious, high quality and long lasting. The prices are expensive, but the confidence, recognition, and admiration derived from wearing the brand are worth making an investment.
Choose Nike and Choose Excellence!