Why Is Nike The Biggest Training Shoe Company In The World?

1109 words - 4 pages

In the following paper, several definitions will be explored as well as strategies of Nike, as being the most important corporate initiatives who played a major role and contributed to the prosperity of what is known today as the biggest Training Shoe Company. These initiatives consist of Realities of Globalization, Rapid Changes in Design & Technology, Increasing Competition, Changing Market & Economic Conditions and Outsourcing Strategies. The athletic footwear, apparel and equipment industry is keenly competitive on a worldwide basis. Nike is the most powerful brand name in the world today. It is the number one producer of sport shoes across the international market. Nike Inc. engages in design, development and marketing footwear, apparel, products for specific athletic use, casual or leisure purposes, accessories and other equipment designed for sports activities and uses. Nike has the largest market share of 43%, compared with competitors like Reebok, Adidas, Puma, Converse, K-Swiss and L.A. Gear etc. Nike Inc. is listed 1st in the 'Sports Clothing & Footwear Industry' & 163rd in Fortune 500, for the year 2006, with over $ 137 billion in annual revenue and Profit of over $ 12 billion.We will analyze the purpose of the paper, to explain the strategic ways, which Nike used to gain a significant market share in the sports wear industry. Nike in 1962, started as Blue Ribbon Sports, as its Founder member, Phil Knight thought there was a market for athletic shoes designed by athletes for athletes. In the year 1964, Bill Bowerman, Knight's track coach & Phil Knight joined hands together & NIKE Inc. was co-founded with headquarters in Beaverton, Oregon. Nike's grassroots strategy was born of low capital and necessity, but became one of the strengths of the company. The 80's and 90's yielded greater profits as Nike began to assume the appearance of athletic juggernaut. "Advertising Age" named Nike the 1996 Marketer of the Year, citing the "ubiquitous Swoosh Logo and its memorable 'Just do it' catch line was more recognized and coveted by consumers than any other sports brand--arguably any brand". That same year Nike's revenues were a staggering $6.74 billion and rose to $12 billion in sales by the year 2000. In year 2003, for the first time in the company's history, international sales exceed USA sales.By late 70's and early 80's, athletic shoe industry was growing smartly, due in part to a health and fitness movement sweeping the nation. All shoe manufacturers began to concentrate on this segment of industry. Sales of running shoes boomed and there began intense competition amongst the shoe companies. With emerging competition, Nike's Competitive strategies, farsighted vision and timely decisions, revolutionized the athletic shoe industry, bringing energy, creativity and new technology to a field that had been running in place for years. However, Nike's Management thought that they would benefit further from International and...

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