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The Success Of Nike. Essay

1928 words - 8 pages

Nike. Inc was ranked 204 in the 2002 Fortune 500 with over 9 billion in annual revenues. The founders went from selling shoes from the back of a van to 10,000 Nike stores all over the world. That is a success story. Each and every athlete has a different way of performing and Nike provides a variety of products (make, model and body style) allowing athletes to perform to their fullest and best performance. I strongly agree that the success of Nike is based on a business model that leverages factors and trends in the operating environment.Nike was started when Phil Knight and Bill Bowerman met at the University of Oregon and had the vision to start a shoe company. They first called it Blue Ribbon Sports. At first, they designed the shoe and a Japanese company called Tiger manufactured them. In 1972 Blue Ribbon and Tiger have a dispute, so Blue Ribbon decides to go on their own, despite the huge risk.Blue Ribbon launches the "Nike" campaign at the Olympics that year. Track athlete Steve Prefontaine was the first major athlete to wear Nike shoes. In 1978, tennis player John McEnroe signs with Nike. This was a huge boost for Nike because in 1979, Nike is finally the number one shoe in America. In 1985, basketball star, Micheal Jordan signed with Nike. This proved to be the biggest and most successful shoe signing probably ever. The Air Jordan is launched and sky rockets to number one. A campaign that started out as just shoes has now grown to all basketball apparel. Why the Air Jordan was so successful was because it was something new. It looked flashy, it felt comfortable and if Michael Jordan could dunk in N.B.A, well you could too. That is why Nike is so successful. They knew that if they could find the right person to sign with them, they could and would be number one. It was a matter of having the right person market it, at the right place and in the right time.Nike's business model is to design, develop, market and sell product. Subcontractors handle all manufacturing, with the exception of Air technology components.Analyse The STEP Checklist With NikeThe Social Factors -The age structure of population affects the lifestyle of sports. There would be higher chances of purchasing trainer shoes in the market, if the age groups were younger. The trends in buying patterns, the catchment area of class and income-structure; as trainers are relatively expensive to purchase. Sports have become a widespread interest for the pursuit of physical health development. It is why a mass market for training shoes products to serve the new-found past-time after World War One. It has become a global consumer product even they were perceived as a youth fashion item worn by film stars and famous athletics. The low wage labour is also a social issue in Vietnam.The Technological Factors - This forms the physical environment as the availability of equipments affects the business organization. Their products and technologies must be up-to-date in order to research new...

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