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Transcript of Nike
Jenna Werneke History of Nike 1964 Blue Ribbon Sports is founded by Bill Bowerman and Phil Knight 1971 Swoosh logo is created 1972 Nike footwear line is created named after the Greek Goddess of Victory 1978 Blue Ribbon Sports officially changes its name to Nike, Inc. "The Moon Shoe" 1988 "Just Do It" campaign is launched 1985 Air Jordans are released 2012 "Find Your Greatness" campaign launches Nike's Marketing Strategy Target Market: males and females, ages 18-35 Spent 40% less on TV and print advertising Increased nontraditional advertising Less reliance on superstar sponsorships Nike SWOT Analysis Strengths Weaknesses Opportunities Threats Nike's Marketing Mix Price Nike's Marketing Mix Promotion Nike's Marketing Mix Place Nike's Marketing Mix Product Recommendations Offers a wide variety of products:
customizable products (NikeID) Has several affiliates that cater to other markets:
Cole Haan (recently dropped)
Hurley Caters to several sports Has a reputation for creating high quality products for customers Nike Flyknit Racer Uses a premium pricing strategy Use of vertical integration in pricing which allows them to control costs and influence pricing on their products. Increased the perceived value of its products over the years through multi-product branding. 'LeBron X' Sneakers Nike tries to maximize its distribution channels to increase sales: Utilizes the internet with its virtual store Sells using subsidiaries and distributors which allows it to its products all over the world Sells directly to customers through Niketowns which are located in several parts of the US Traditional advertising: television, radio, magazine, posters, billboards, etc. Nike sponsors famous athletes and sports teams Focusing more on nontraditional advertising through the internet and social media Nike should continue to widen their product range to cover more sports such as outdoor sports like fishing and winter sports like skiing and snowboarding Nike should consider mid to low price points for more of its products especially since not all consumers agree with their justification for higher prices Nike is considered one of the most recognizable brands in the world Nike is currently the global market share leader in athletic footwear Nike has no factories and fewer expenses as a result Nike utilizes a leader R&D strategy to achieve market differentiation Nike products are marketed as high-quality, high-performance products designed with the latest technology Heavily dependent on shoe sales Negative image of poor working conditions and child labor overseas that can hurt its reputation Price elasticity can be very high in the retail sector There are many other countries where Nike can expand further The market for sports shoes is extremely competitive Economic recession in many parts of the world Negative image created from sponsored athletes Increasing prices of raw materials Nike could sponsor other popular sports such as Hockey, Soccer, and Baseball Nike can expand into more into fashion Thank you!