Nike
Nike is a large multinational company that has established itself both locally and internationally. The company has been dealing in various products, including sportswear, especially shoes and other apparel for outdoor activities especially leisure activities. Nike has been the foremost producer of quality sports products. Indeed, the company has been a household name in the sporting world a long time (Drexler, 2007).
Promotion is a critical component in the marketing mix of any company. Promotion has been paramount in marketing of the company’s products, which has opened many opportunities in different markets throughout the world. Anything that involves sport has been a conspicuous selling point for Nike. Sports activities are carried out throughout the world and big sportswear companies like Nike sponsor these activities. Sponsorship is an important tool in the company’s promotional mix as it creates attention to the company’s products (Drexler, 2007).
It has trained and outsourced most of its factories abroad. The cheap and availability of raw materials have made it produce quality products. The quality of its products has given customers confidence and this has led to a retention of these customers which has ensured the company is profitable in the long run (Li., MacIntosh, & Bravo, 2012). Further, the company has introduced Nikeid for their customers. All a client needs is to go to their website, select a product and then personalize it based on their preferences. For instance, the company makes websites exclusively for sports, for instance nikebasketball. This promotional push enables the company to reach as many people as possible (Drexler, 2007).
Another way the company promotes its products is through provision of the attire needed in the sports. Nike has been instrumental in targeting various market segments in the different sports. The needs of great sports personalities have been identified and Nike endorses their uniforms. Famous athletes on their list include Tiger Woods, Ronaldino, Roberto Carlos, and Lance Armstrong among others. These people create a great deal of attention to the company’s products. Every year, these uniforms of such people are changed and so does the revenues of the company. The revenues of the Nike Company have increased in successive years. This shows that its products are in high demand regardless of new products in the market. The customers are getting the value they need since they have maintained a following of Nike products as shown in the financial gains that the company has achieved (Li., MacIntosh, & Bravo, 2012). Nike is a company that gives its customers the best. The originality and efficiency of the sports gear has made it a company to look out for. It has also used the many successful players in marketing its products. This has an appeal on the general population and causes them to venture into buying the products. As far as its financials are concerned it has achieved much success in providing to its customers good quality products.
Nike has also embraced diversification of its products in the last 30 years. This is based on market trends and lifestyles of consumers. The company has been active in promoting the products to consumers, both locally and in the international market (Li., MacIntosh, & Bravo, 2012).
In summary, Nike has used promotional strategies that capture the focus of the company. Through personalization, providing attires to sportsmen and women, sponsorship, and diversification, the company has continued to see growth of its business.
References
Drexler, K. M. (2007). Icons of business: An encyclopedia of mavericks, movers, and shakers. Westport, Conn: Greenwood Press.
Li, M., MacIntosh, E. W., & Bravo, G. A. (2012). International sport management. Champaign, IL: Human Kinectics.
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