Introduction
This case study concerns the characteristic strategy of Nike corporation, is that "Nike Free" which has been designed to copy barefoot running. This brand has established itself solidly in the sports market in only 32 years. Although Nike has grown to be the industry's largest sports and fitness company and has one of the world’s most identifiable logos, Nike's mindset is still continually innovating, improving at work, and bringing items closer to customers through various means of promotion. This case study provides a SWOT analysis of the company in order to make an effective plan for its development in the future.
Recommended course of action
From the Swot analysis, the following recommendations are made:
• Promote brand and new products with Nike’s ‘swoosh’ through using viral social networks (TikTok, Facebook, YouTube, etc. ), trends, and public characters who have a positive impact on society.
• Use membership cards with the aim of distinguishing between new and loyal consumers and provide them exclusive perks.
• Guarantee that all Nike salesclerks have expertise in the brand's items and can clearly answer customers' queries.
• Consult the opinions and feedback from a variety of customers to improve and satisfy them.
• Generate profit while minimizing detrimental impacts on the environment and community.
• Build packaging for products that are both environmentally friendly and eye-catching.
• Raise funds for charities to connect the brand’s image closer to the public and society.
• Penetrate the Asian market.
• Create and launch products that are suitable for a wide variety of clients and available at a variety of sale prices.
• Concentrate on finding new ways in order to enhance athletic performance by continuously innovating, designing, and developing products.
Appraisal of recommended courses of action
With today's environmental challenges being a major topic of public interest, if Nike develops a product that balances both quality and environmental friendliness, purchasers will be more likely to pick Nike as a community brand instead of other sports brands. By modifying the packaging, pricing, listening to user feedback, and advertising properly with product quality, the company's reputation will be strengthened, which will bring more items to diverse customers. The creation of ‘natural technology’- Nike Free and Reincarnate campaign have been a big plus for Nike from athletes as well as coaches, which has attracted everyone's attention that Nike is and will create products that satisfy customers.
Thanks to distributing products to Asia, the scope of Nike's business will be expanded. So that the corporation can more easily call for charity and get public support, thus globalizing the brand's image. In the Fourth Industrial Revolution, Nike will directly communicate with their buyers by introducing and publicizing Nike's products on social media, and online customers will be able to purchase Nike's goods without needing to visit a Nike store.
Hiring salesclerks with a background in sports will help to establish Nike as a professional shop. Furthermore, employing a membership card can assist Nike in gathering more client information then Nike will get more points by offering a discount on customers’ birthdays or by rewarding loyal customers with high-value gifts.
Conclusion
By implementing the above strategy, Nike's sales targets will be surpassed, and the corporation will dominate the sports market. Nike will become the top choice for clients who need sports equipment as a result of its business strategy of constant innovation and creativity.
Introduction
This case study concerns the characteristic strategy of Nike corporation, is that
"
Nike Free
"
which has
been designed
to copy barefoot running. This
brand
has established itself
solidly
in the
sports
market in
only
32 years. Although Nike has grown to be the industry's largest
sports
and fitness
company
and has one of the world’s most identifiable logos, Nike's mindset is
still
continually
innovating, improving at work, and bringing items closer to
customers
through various means of promotion. This case study provides a SWOT analysis of the
company
in order to
make
an effective plan for its development in the future.
Recommended course of action
From the Swot analysis, the following recommendations
are made
:
• Promote
brand
and new
products
with Nike’s ‘swoosh’ through using viral social networks (TikTok, Facebook, YouTube, etc.
)
, trends, and
public
characters who have a
positive
impact on society.
•
Use
membership cards with the aim of distinguishing between new and loyal consumers and provide them exclusive perks.
• Guarantee that all Nike salesclerks have expertise in the brand's items and can
clearly
answer customers' queries.
• Consult the opinions and feedback from a variety of
customers
to
improve
and satisfy them.
• Generate profit while minimizing detrimental impacts on the environment and community.
• Build packaging for
products
that are both
environmentally
friendly and eye-catching.
• Raise funds for charities to connect the
brand’s
image closer to the
public
and society.
• Penetrate the Asian market.
• Create and launch
products
that are suitable for a wide variety of clients and available at a variety of sale prices.
• Concentrate on finding new ways in order to enhance athletic performance by
continuously
innovating, designing, and developing products.
Appraisal of recommended courses of action
With
today
's environmental challenges being a major topic of
public
interest, if Nike develops a
product
that balances both quality and environmental friendliness, purchasers will be more likely to pick Nike as a community
brand
instead
of other
sports
brands
. By modifying the packaging, pricing, listening to user feedback, and advertising
properly
with
product
quality, the
company
's reputation will
be strengthened
, which will bring more items to diverse
customers
. The creation of ‘natural technology’- Nike Free and Reincarnate campaign have been a
big
plus for Nike from athletes
as well
as coaches, which has attracted everyone's attention that Nike is and will create
products
that satisfy customers.
Thanks to distributing
products
to Asia, the scope of Nike's business will
be expanded
.
So
that the corporation can more
easily
call for charity and
get
public
support,
thus
globalizing the brand's image. In the Fourth Industrial Revolution, Nike will
directly
communicate with their buyers by introducing and publicizing Nike's
products
on social media, and online
customers
will be able to
purchase
Nike's
goods
without needing to visit a Nike store.
Hiring salesclerks with a background in
sports
will
help
to establish Nike as a professional shop.
Furthermore
, employing a membership card can assist Nike in gathering more client information
then
Nike will
get
more points by offering a discount on
customers’
birthdays or by rewarding loyal
customers
with high-value gifts.
Conclusion
By implementing the above strategy, Nike's sales targets will
be surpassed
, and the corporation will dominate the
sports
market. Nike will become the top choice for clients who need
sports
equipment
as a result
of its business strategy of constant innovation and creativity.