Culture of Nike is always promoting innovation and new product designs. This was traditional approach of co-founders and the other strategic leadership incorporated with technology and marketing power culture over all become supportive As Nike operates on a cross border level, it approach business in different ways which is strongly shaped by the different national cultures.
Q.2) Discuss Nike’s new product portfolio and strategic brand management strategies. Indicate any recommended changes.
New Product Portfolio
Nike started its business and step by step it captured most of the sports market all over the world. Nike also drags its supply chain system and spends $500 million to build a new system. It contributed for quicker design and manufacturing of products, which faster gross margin which reduced the lead time from 9 months to 6 months.
Nike not just designs its product for one sport but it designed its products for basketball, football, cricket, tennis, hockey and many more.
Nike has diversified its product not just in footwear but also in different other stuff. But still the main market share Nike has is in footwear.
Strategic Brand Management
Brand name and logo plays a very important role in every brand, similarly it has played in the case of Nike. Now we can easily analyze the sign “swoosh” and brand line “just do it”. Also Nike carry the heritage and culture of their early days but also recruited from outside so as to make their brand more effective. Also they started emphasizing on acquisitions.
Nike has done so much advertisement that now Nike is not just a brand for sports, but it has become a fashion statement and all of this has been done by applying different brand strategies.
Nike Inc. main marketing strategy was Ambush marketing, Ambush marketing is a marketing campaign that takes place around an event but does not involves payment of sponsorship fees to event.
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