Nike, one of the most well-known sport-equipment product companies in the world. I believe most of us have heard about them, buy their product and even carrying one now. However, does everyone know why Nike is named as “Nike” and what does the Swoosh logo means? Now let me briefly introduce Nike and its history.
Nike is a well-known sport equipment shop. They operate in more than 170 countries around the world with more than 30,000 employees across six continents. Along the way, Nike has established a strong Brand Portfolio with several wholly-owned companies including Cole Haan, Converse, Hurley International, NIKE Golf, and Umbro Ltd. The brilliant vision and direction of Nike leads them to achieve success and recognition. In 2010, Nike’s name is listed as one of the 100 Best Corporate Companies and one of the World’s Top Sustainable Stocks. Other than that, Nike received Top Score in Design Innovation from the Ceres. Also, Nike takes a responsibility for the community as they implement the recycling programs, reduce their carbon footprints and fully support the greening industry.
History of Nike
Nike originally named as Blue Ribbon Sports, which was created by Philip Knight and his coach Bill Bowerman on 25 of January in 1964. The company initially operated as a distributor for Japanese shoe maker Onitsuka Tiger. As the company’s profits grew quickly, in 1966, BRS opened its first retail store, located in Santa Monica of California. By 1971, the relationship between BRS and Onitsuka Tiger was nearing an end. BRS then prepared to launch its own line of footwear. Therefore they have to design a new logo for the company. The Swoosh was then created by Carolyn Davidson. It represents the wing in the famous statue of the Greek Goddess of victory, Nike. The first footwear line to carry this design was released in February of 1972. In 1978, BRS officially renamed itself to Nike. Beginning with Ilie Nastase, the first professional athlete to sign with Nike, the sponsorship of athletes became a key marketing tool for the rapidly growing company. By 1980, Nike had reached a 50% market sharing in the United States athletic shoe market, and they became a listed company in December of that year. Nike’s first national television advertisement ran in October of 1982 during the broadcast of the New York Marathon. The advertisements were created by Wieden + Kennedy. Together, Nike and Wieden + Kennedy have created many print and television ads and the agency continues to be Nike’s primary today. They also created the famous slogan “Just Do It” for a 1988 Nike advertise campaign, which was chosen by Advertising Age as one of the top five advertise slogans of the 20th century. Throughout the 1980s, Nike expanded its product line to include many other sports and regions throughout the world.
Present Operation -Products
Nike produces a wide range of sports equipment. They engaged in design, development and worldwide marketing of footwear, apparel, equipment, and accessory products. Their products include shoes and apparel for sports activities like football, basketball, tennis, athletics and golf for men, women, and children. It also sells a line of performance equipment under the Nike’s brand name, including bags, socks, sport balls, eyewear and other equipment designed for sports activities.
In 1987, Nike first released the Air Max series as a line of footwear product. Since then, Nike invested many new technologies which lower the weight and increase the protectiveness of the footwear. Till now, Nike Air Max is still one of the most popular and fashionable footwear among the competitors. (Introduce) In 1985, Nike introduced the Air Jordan I (point); a high performance basketball shoe which designed for shockproof, bouncy and speed up the acceleration rate. It was named after a famous NBA basketball player-Michael Jordon. Since then, the Air Jordan series has been very popular for the basketball fans. Nike keeps improve the quality and outfit of the Jordan series. Up to now, there are 25 additions of Air Jordan. (Introduce) These magnificent products made Nike well known in worldwide and popular in youth culture and hip hop culture.
Present Operation -Marketing strategy
Nike’s marketing strategy is an important component of the company’s success. Other than television advertisement I have mentioned before, sponsoring some famous top athlete player is another strategy for Nike to promote their brand name. Starting from the Romanian tennis player Ilie NÄƒstase, Nike has been one of the major clothing and footwear sponsors for the leading tennis, basketball, football, golf and America football players, team or even a national team. They sponsor the athlete to use their product in the match. Therefore, the product will be shown by the podcast to everyone who watched the match. Taking the World Cup 2010 as an example, Nike sponsored many of the football team including Brazil, Netherland, Socceroo and many other teams (introduce). They also create a slogan: “Write the future”. These advertisements could booster the marketing of the sportswear and the other by-product which produce by Nike and increase the profit of the company.
Now and future
Although 2010 has a significant macro-economic challenge, Nike finished the year strongly with clear opportunities for growth and maintains a good financial shape. Moving into a new fiscal year, Nike will have to face more challenges like input costs, foreign currency and market volatility. Nike will try to continue to serve customer just as they did in the last year and they will not leave any key growth opportunities untapped. China is a great example. Nike is being the leading force in this incredible market. In the following year, Nike will follow their goal as to carry on the legacy of innovative thinking, whether to develop products that help athletes of every level of ability reach their highest potential. Also, Nike aims to create business opportunities that set them apart from the competition and provide values for their shareholders. They will continue to engage and connect with their customer and fulfill the expectation of the customer and other shareholders.
In conclude, Nike was created by Philip Knight and Bill Bowerman. They sell products including shoes and apparel for sports activities in over 170 countries around the world. Also, they invent new technologies which may apply on their products to improve the qualities. To promote, Nike is engaged with television advertisement and sponsorship, which are the key component for them to success. In no doubt, Nike is one of the top companies no matter in terms of sport apparels, fashion or clothing.
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