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Transcript of SWOT: Nike
Nike is a very large global brand that is well known in many parts of the world. They are in places in North America, places in South America like Brazil, in Europe and in Asia. Currently, Nike's revenue is at $4.8 billion, which is up 10% versus the year before, up 11%, not including currency changes. Also the diluted earnings per share increased 24% from last year. Strengths Con't. Background Info. Formed in 1972, Nike was created by Bill Bowerman and Phil Knight. Their goal is to be innovative thinkers by helping atheletes reach every level of ability and reach their potential, and to create buisness oppourtunities as well as to provide value for their shareholders. Today, they have gone from a U.S. shoecompany to a worldwide company that operates in over 160 countries. They have employed over 36,000 employees, yet directly and indirectly have employed over a million people. Nike has a website called Nikeid, which allows shoppers to buy and customize their own shoes and t-shirts, allowing customers more variety when purchasing online and helping people express themselves on their clothing. Weaknesses Nike comes off as an athletic sports company, which may deter those who are not into sports and athletics. Therefore, they may be losing money to those who may not enjoy playing or wathcing sports because they misinterpret what Nike is selling and who they are selling to. Nike's products are in many cases more expensive than other shoe companies and their line of Air Jordan shoes are mostly all over $100, which may seem too expensive to consumers and discourage them from buying Nike shoes and products. Weaknesses Continued Nike is in a very competetive position with other large global brands like Reebok and Adidas which offer many sports products and attire at cheaper prices, so when people are shopping for deals, they may not buy Nike's products. Nike does not have many stores, instead they sell their products to many retailers for sportswear and to shoe stores. So, in most cases, people are not buying directly from Nike but from the retailers that are around them that do sell Nike. Oppourtunities Nike is a sponsor and is endorsed and worn in many professional sports like the NFL, and their shoes (cleats) and many other products of theirs are used by the players and in many cases use athletes to endorse Nike in commercials. This way, Nike is also getting much of its revenue from sports and athletes as well as consumers all around the world. This greatly increases their popularity when people see their favorite athletes wearing Nike. Threats Nike is exposed to the various changes of trade. As a global brand they buy and sell in different currencies and so costs are not stable over long periods of time. This means that Nike may be manufacturing or/and selling at a loss. As stated in the weaknesses of Nike, they are in a very competitve buisness and have to adjust their prices accordingly so that they remain as the best choice for consumers both in quality and in the prices of the products they offer. Thank You!