Why Is Nike so Successful?
Nike is successful because of its marketing strategy, brand recognition and research into changing consumer demands. Nike has continued to grow by targeting both male and female athletic wear consumers and expanding product offerings into every available market.
Nike has used a strategy of brand recognition for many years. The slogan “Just Do It” has been in use since the mid-1980s. This slogan in concert with the Nike Swoosh logo have helped to create an easily recognizable product.
Nike has also made effective use of sports sponsorships. Nike sponsors a multitude of sports associations including the NFL and NBA, as well as colleges and events such as the Olympics. The company has also employed some of the biggest sports stars since the 1980s. Michael Jordan was one of the company’s earliest and most popular spokespersons. Jordan was so popular that he continues to have a line of clothing and shoes with Nike years after his retirement as a professional basketball player.
Finally, Nike makes use of all available markets to increase their revenue margin. One large outlet for Nike internationally has been its emergence, market share and investment in the Chinese economy. It has also continued to expand its offerings to become more appealing to female athletes.