Nike is well-known as the most popular brand. From elementary school students to professional athletes, no one can deny the appeal of Nike. However, if you survey how many people have or currently own Nike products, this number will surprise you.
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Introduction About Nike Shoe Brand
The quality of shoes makes the reputation for Nike. However, it is also undeniable that Nike’s effective marketing strategies have contributed to its success today. Nike is the world’s leading supplier of athletic shoes, as well as a significant sportswear manufacturer, with total sales of more than $34.7 billion in 2020.
Starting With Tiger Shoes
It all started with Nike in the early 1960s, when Nike’s founder, Knight, wrote a page explaining how Japanese workers made cheap running shoes. Later, on a trip to Japan, he noticed that the Tiger Company specializes in producing high-quality running shoes.
Nike’s Business Start Dates
In 1964, Knight and his friend William Bowerman paid $500 to import tiger shoes to the United States. By 1972, the company began designing its Nike-branded shoes and contracted outsourcing with factories in Asia (which still exists today).
The fledgling company was at the perfect moment when running became popular in the United States in the 1970s: Nike had total sales of $3 million in 1972 and total sales of 270 million dollars in the 1970s and 1980s. Total annual sales amounted to 1 billion US dollars in 1986.
Ups And Downs In The Marketplace
Nike In The 1970s
After its success in the early 1970s, the company faced its first stern test in the 1980s. It was due to demographic changes that young girls who were over 40 years old in the past. As they get older, they feel less compelled to run. As a result, fewer and fewer consumers prefer to exercise by jogging, and more and more people are jogging at a much slower pace.
Nike’s Development Through The Stages
In addition, the durable running shoe market is becoming increasingly fragmented (considered a sign of saturation), and consumer demand is also different. For example, in 1984, Nike’s sales fell 17%, and the company’s market share fell from 31% that year to 26%. This decline in market share continued to decline to 18.6% in 1986.
Nike In The 1980s
During the 1980s, Nike sold shoes the same way that Audi and Fiat sold their cars. However, they made new shoes with different functions, such as the Pegasus (1988), the Air Max (1987), and then the Nike Air Jordan-Michael Jordan, the most famous athlete of all time. It is also a super brand in itself and one of the leading brands of Nike. Its spokesman, Tiger Woods, where Nikki became the highest-paid athlete ever of the Nike brand.
Nike In The 1990s
Also, in the 1990s, Nike invested heavily in the women’s clothing market, using a similar strategy of using sports stars to promote its products while also contributing to football promotion in the US. For example, in 1996, Nike published an ad in the form of a girl asking her parents to buy soccer balls instead of Christmas dolls.
Popular Nike Media Programs
The company is also working to establish a long-term relationship with Football by sponsoring famous players such as Ronaldo’s World Championship Tour and Ronaldo. Most of Nike’s multi-billion-dollar marketing budget is used to sponsor famous athletes.
Currently, Nike spends about US$100 million per year to contract famous athletes to use and spread Nike products. For example, Andre Agassi (tennis), Nolan Ryan (baseball), Karl Lewis (sports), Charles Barkley and Scottie Pippen (basketball), Tiger Wood (golf), Ronaldo (Soccer) and developed many new products such as hiking shoes, soccer skateboards.
However, this communication strategy also gives Nike many negative factors when a factory is based on cheap labor in some other countries but accepts to pour large amounts of marketing funds into people who already have a lot of money in hand.
And The Enduring Success Of A Top Brand
Nike now seems to be full of the lessons that marketers have mentioned before. The brand is more attractive than it was twenty years ago. By inviting television reporters to its production facilities, Nike has demonstrated that Nike’s working conditions have entirely improved. Today, Nike’s image is closer to a socially responsible organization than an exploitative, profit-oriented organization as in the past.
Currently, the value of the Nike brand is still very high. Nike’s trademark logo, Coca-Cola’s wavy lettering, and McDonald’s gilded dome remain some of the most famous symbols on the planet.
Nike Free Shoes For Healthcare Workers
In 2019, Nike announced that it would give away 140,000 pairs of shoes free of charge to healthcare workers, including healthcare workers in the US and European employees. The program is announced on Nike’s website: https://news.nike.com/news/nike-air-zoom-pulse-hospital-donations.
The medical staff needs to leave the information and will receive free Nike shoes. Of course, Nike isn’t the only brand with a free shoe program for healthcare workers. But with Nike’s efforts, many other shoe brands also learn and follow.
Nike’s global success today demonstrates the brand’s strength of reaching out and dedication to growth. Hope the article provides you with a lot of new information. If you love our articles, please visit our website often.
Alternatively, you can check out this article about the best nike shoes for women.