Bm group4 nike
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Nike was founded in 1960 in Oregon by Phil Knight and Bowerman. It has grown from a small startup to a global brand covering the US and international markets. Nike focuses on performance and quality in its products while also prioritizing fashion. It builds brand equity through endorsements of top athletes, which helps drive sales and loyalty. Nike tailors its marketing and sponsorships to different cultural markets around the world. Sponsorships are vital to Nike's success in building its initial customer base and occupying mind share. However, some aggressive marketing messages were not well received in all markets. Fashion is also an important part of Nike's brand identity and product line.
Bm group4 nike
- 1. NIKE Just Do IT ! Group 4 Name Roll No: Shouvik Das FT13170 Ishani Sircar FT13224 Arjun Choudhry FT13312 Namita Joshi FT13351 Vikrant Vijay Mahajan FT13389 Ruchika Salhotra FT13466
- 2. Introduction • Est. in 1960 in Oregon. • Phil Knight and Bowerman - Founder • Nike has gone through many changes • Started small and now has covered the U.S. and International market
- 3. Brand Image • Conducting Press conferences & issuing press release • Outlining the steps taken to ensure compliance with code of conduct • Establishing & posting progress on improving labor conditions • Responding to each enquiry. • Should take into account business impact & desires of stakeholders
- 4. Brand Equity • Nike sells feelings or emotions. • An aggressive and performance oriented brand • Has always given priority to performance and durability along with fashion • Always provides higher quality with higher price. • One of major source is professional athletes and signs top players of every sport.
- 5. Resonance with Customers • United States: High level Resonance. − Appreciated innovation and performance of the product. − Influenced by the top athletes endorsements. − Occupied the mind space of the customers through mass advertising. − Consumer Research to gauge customer response and plan accordingly. • European Markets: Medium level Resonance − Developed cultural, geographical and personal relations and credibility among European consumers. − Re-casted its brand image with regional tastes and cultural aspects. − Sponsored local clubs and national teams to gain grass root level relevance. • Asian Markets: Low-Medium level Resonance − Local heroes were brand ambassadors with mass advertising. − Implemented global labor standards to recover from Image crisis. − Created CRD to reflect its community involvement.
- 6. Sponsorships & Endorsements • Vital to Nike’s business. Attributes to early success of Nike. • Helped in building the initial customer base for Nike. • Gives a personality to brand – Michael Jordon personified Nike’s basketball shoes with his stellar performance. • Occupied a brand space in consumer mind: Nike means Performance • Success of the brand ambassadors helped in the growth of both brand value (return on financial investments) and customer value (customer loyalty). • These helped Nike reclaim its market share and emerge as market leader in US.
- 7. Customer’s perceptions to Sponsorships &Endorsements • Consumers believe the brand has greater value. E.g. John McEnroe support to shoes led to sale of 1.5 million pairs in US and credibility among European consumers. • Consumers believe the athletes' success is attributed to the brands they use. E.g. Sales crossed $ 3 billion when Michael Jordan-Chicago Bulls won the first of their six championships. • Consumers don’t prefer aggressive brands. E.g. ‘Play Hard, Die Old’ was not well received. No offerings in middle market was perceived as aggressive, expensive American brand. • Consumer’s attitude change over generations. E.g. Young generation felt Nike as cool brand while Older generation felt Adidas and Reebok to be better choice.
- 8. Fashion @ NIKE • It is challenged to respond to a market demand for fashionable footwear and apparel. • Fashion is an integral part of production. • The company also opened first Nike Goddess store to sell fashionable sportswear for women. • Fashion is important along with
- 9. Defensive Strategy • More emphasize on female consumers. • Service differentiation • Apparel and equipment customization • Product differentiation • Follow latest trend and innovate • Can also offer low price range products
- 10. THANK YOU !