WINNING STRATEGIES OF STRONG BRANDS
“The only one who can tell you ‘you can’t’ is you. And you don’t have to listen.” – Nike
View on the topic:
Brand is more than the logo, name or slogan. It is the prospect the customers have with the company, product or service. A brand strategy defines what the company stands for, the promise it makes, and the personality it conveys. It is how a company intends to change the world for the better and helps establish a product within the market and to build a brand that will grow and mature in a saturated market place. Brand strategy after all, is a feeling that founders convey to staff, and the staff conveys to consumers.
Abstract:
The athletic apparel giant has been able to succeed for generations because
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In this paper we have discussed the winning strategy of Nike. Nike a global leader in sporting goods industry has established a strong position for enhancing athletic life style. Its brand strives to capture and deliver ‘authentic athletic performance’ across thousands of sports and fitness products. Founded by Bill Bowerman and Phil Knight in 1970s, it is the number one sports manufacturer in the world that offers a wide range for choice for individuals ranging from sports equipment, athletic shoes to clothes. Selling well-designed and very expensive products, Nike is positioned as a premium brand. It is recognized for the quality and has gained the reputation all over the world. Due to its higher quality, its Prices are usually higher than the normal brand which makes the customers to perceive it as high-end product. Some of the major competitors of Nike include Adidas, Reebok, and Under Armour.
Illustration 1: Nike’s revenue break- down by product category: 2Q15
Case Study:
A Compelling Logo and Tagline:
In Greek mythology, the name-Nike is associated to the “goddess of success”. The founder wanted each client to believe that through purchasing Nike products, they would obtain success, power and happiness. Its swoosh logo associated the brand with movement and speed. It tries to lure customers with a marketing strategy centering on a brand image which is attained by distinctive tagline: “Just do
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Nike may be making fewer commercials, but Nike has balanced it out by heavily focusing on digital marketing. The company without a doubt is ahead of its competitors when it comes to social engagement. It has the most followers and subscribers on all social channels .With the help of these social media; Nike maintains its customer relationship in an effective way.
Segmentation as a strategy:
Segmentation tactics serves main purposes. By having different sections for each sport, Nike generated additional markets for each consumer. It facilitated customers’ believe that they need clothing for every sport they were involved in. It made consumers forget that Nike running shirts serve the same purpose as Nike yoga shirts. The goal is to create additional markets in one consumer.
Communicating to the