Yet, even though they are not necessarily the sponsors, Nike finds unique ways to showcase their brand. Nike experienced negative attention as a result of the FIFA scandal in Below you can see an image of three major companies and how the brand suffered from the scandal.
The scandal included bribery and drug-related allegations. Nike established a contract with NFL in for five years. In , Nike added 3 more years with NFL without an auction, which some would say was a very beneficial move for the company.
Adidas gave up their connection with the NBA for apparel and jerseys in Nike is introducing a first for NBA, as previously there has not been a company's logo on the uniforms. Nike has also shifted from not only targeting the elite sector of athletes but allowing consumers to explore their inner athlete - to become fit and healthy with Nike's products.
You can see this shift in how Nike has a saying that "if you have a body, you are an athlete. Here is a screenshot of the Nike Instagram Account - You can see a mixture of photos and videos with over million views on the videos and thousands of likes and comments.
Screenshot from one of Nike's videos on their Facebook page. As you can see there have been over 6. Here is a screenshot and an example of Nike's Twitter page. There are over 7 million followers of the end of June Nike was the first sportswear brand to be upfront with the public about who they are using for their contracted factories.
This occurred in and it helped redeem the negative attention they received prior. It is noted that Bill Bowerman can be linked to the jogging craze that occurred in the late s and s.
Bill wrote various books and articles about the benefits of jogging. It is noted that one of Bill's books that he wrote about jogging was done with a cardiologist. See below for a graph that details the timeline of Nike's contributions, showing a small piece of Nike history. It is noted that the Chance helped promote Nike and increase their fan-base.
Furthermore, 2, user-generated videos and 28, player posts were created and the brand received 3. As stated before, Nike's advertisements often have minimal mention of their product, but focus on telling a story.
Here is a picture from Instagram on the Nike account. Below the picture has the description: "Greetings from mile one. It's here where you and a few of your fastest friends can enjoy a short, breathtaking stay. Relax, dig in your toes, and chase the sunset. Wish you were here.
Find your fast at Nike. Here is another picture from Instagram on the Nike account. Below the picture has the description: "It's not always sunshine and sand. The Nike marketing strategy, in summary, is, invest heavily in marketing, use emotional advertising that every human being can identify with, offer premium products at premium prices and sell their products primarily through 3rd party retails stores.
Nike claims to be socially conscious and invests back into the community. Their website has a section where they talk about helping kids get healthy and active and their passion to help communities and creating global change. They make a statement saying "double the business with half the impact. Click to Watch Nike's History in 3 Minutes.
Click here for Other Nike Facts and Statistics. Profitworks Small Business Services Inc. Profitworks is a company built on the values of integrity, hard work, doing things better than they have ever been done before and the utmost commitment to our customers. But occasionally, a few players reorient themselves to new trends ahead of time.
They become future-ready. And during troubled times, like the Covid pandemic, they grow further and become top dogs. Nike is one of them. Nike released its latest financial results on Thursday evening. Neiman Marcus, Brooks Brothers, J. We track how ready companies are for a changing future. They are publicly available and have objective rules.
What we measure are the fundamental drivers that fuel innovation. They include the financial health of a company, its growth prospects, employee diversity, brand value, its degree of internationalization, and the early results of its innovation efforts.
On innovation specifically, we look at how tech-savvy these fashion brands are. How strong is their e-commerce presence in mobile apps, live-streaming, omni-channels, and direct-to-consumer engagement? How big is their fanbase on social media? How big is their search volume on Google? Can they personalize offerings? Are they seen as environmentally sustainable? They are the flashy results that attract customers. Behind the scenes are a lot of the make-or-break technologies.
A company may want to let consumers personalize their sneakers online and have them shipped in weeks. It was forced to delay that until due to earlier stumbles when it lost ground to adidas , but the company is on track to achieve that goal even with setbacks from the pandemic. Like the rest of the apparel sector, the company looks poised to capitalize on pent-up demand when the pandemic ends.
Stores will be reopened, the Summer Olympics should go on following a delay this year, and there's sure to be a wave of spending on streetwear like Nike's classic sneakers. Meanwhile, the company's margins should continue to improve as an increasing share of its sales goes to digital and direct, where it has more control over the sales process and doesn't have to share revenue with its retail partners.
The Consumer Direct Offense has helped Nike extend its lead over rivals like adidas and Under Armour , and that trend should continue over the coming years. In addition to its increasing emphasis on technology and direct sales through its own stores, investors should expect continuing innovation like its Vaporfly shoes , a version of which was banned after Eliud Kipchoge ran the world's first sub-two-hour marathon. Investors should also expect Nike to maintain a world-class roster of sponsor athletes.
The future looks bright for Nike. With profit margins expanding, a tailwind coming from the end of the pandemic, and a clear leadership position in its industry, the stock should continue to be a winner over the next five years.
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