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Many modern companies attract people’s attention and remain in demand for a long period. Each organization has its history, mission, and a hardworking team. There are also such companies that distinguish from others by their unique approach to every aspect of the chosen business, and Nike is one of them. It is not enough to say that Nike is about bringing innovation and inspiration to endorse athletes (Knight, 2016). This company helps millions of people regardless of their race, age, or gender discover potential and contribute to the creation of an effective sports future. In this paper, a brief historical overview of Nike will be offered to identify an outline and a purpose of a research project and understand better its strategic management, segmentation, and strengths in the current US market.
Despite economic challenges and unstable international trade relationships around the whole globe, Nike stays one of the companies with a strong brand image and a number of regular customers. Sustainable growth of Nike is determined by technological advancements in one particular field, sportswear. Its analysis is a good opportunity to investigate sports management, strategies that continue working during several decades, and employees’ enthusiasm that makes customers choose Nike among other successful sportswear organizations. The purpose of a future research paper is to identify the role of Nike in the US market by discussing its product segmentation peculiarities, recent marketing strategies, and competitors. First, a brief evaluation of the recent achievements of Nike will be introduced, using recent annual reports of the company. Second, the investigation of its products, strategies, and competitors will be expanded to clarify this company’s tactics and prospects. Finally, a SWOT analysis will be developed to conclude its final achievements, as well as weak and strong issues in the market.
History and Overview
The discussion of Nike success may be rooted in its history and the first steps of its founders. In 1964, a coach, Bill Bowerman, and an athlete, Phil Knight, founded the company known as Blue Ribbon Sports in Beaverton, Oregon that officially turned into Nike in 1971. Bowerman made a pair of shoes for a local sportsman, providing him with necessary motivation and support. Knight (2016) admits that Bowerman always said that inspiration usually came from quotidian things that may be eaten, observed, or experienced. The simplicity of ideas attracted the attention of many people so in one year more than 1000 pairs of shoes were sold.
In less than ten years, Nike demonstrated good results of its work by expanding business from the United States to China and many European countries. At the end of 1980s, Nike bought several small companies meeting its equipment and human resource purposes. Due to fast technological progress, Nike became able to use technologies in its production and manufacturing and offer a wide range of technologically advanced products. There are two major directions in Nike production: sports equipment and street fashion. On the one hand, athletes can buy professional running shoes, cleats, shorts, and baselayers that can be used by players in football, hockey, basketball, and other types of sport. On the other hand, ordinary (not sports) people may also enjoy Nike products (e.g., shoes, socks, and suits) for everyday use.
In general, Nike serves as an example for many modern companies. It is a strong competitor that uses technology as its main weapon, and an effective motivator that discovers strengths in simple things. The analysis of Nike has its financial, marketing, and management benefits for people from different fields, and its development is a considerable step forward to understanding better the world of sportswear and technologies.
Knight, P. (2016). Shoe dog: A memoir by the creator of Nike. New York, NY: Scribner.