The product I have chosen to talk about in this assignment is the brand Nike
The product I have chosen to talk about in this assignment is the brand Nike, focusing on the shoe’s aspect. Firstly, what is Nike? Nike is a widely known brand in the international market recognized by many people around the globe. Nike is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The headquarter of Nike is located near Beaverton, Oregon, in the Portland metropolitan area. The company was founded by Bill Bowerman and Phil Knight on January 25, 1964. Nike was originally known as Blue Ribbon Sports (BRS) before they officially became Nike on May 30, 1971. Nike markets its products under its own brand, such as Air max, Nike pro, Nike+ and so on. The company also operates their retail stores under the name Nike and they sponsor many high-profile athletes and sports team around the world. Their highly recognized trademarks are “Just Do It” logo. In my honest opinion no brand is the best, but I do put my trust on Nike. Besides Nike there are also many big competitors that are competing with and around Nike. like to talk about what age or category does Nike caters to.
Nike produces a lot of product but mainly I will be talking about the footwear they make. The shoes that Nike produces are cater to all people regardless of age. Whether it be children, teenagers, grown-ups or the elders it suits everyone. On 2015 October, Nike also started to target their customers towards women. They started expanding their market on women’s apparel especially sport bras and tight. Retailers that sell multiple brands are experimenting with new stores that cater to these fitness-focused women. Sales of Nike’s training and running apparel for women grew by double digits in the last quarter, outpacing the men’s business said Parker the third CEO of Nike of 2006. As in now there are many more young athletes, Nike plans to get young athletes to wear its products through sponsorships with local leagues, clubs, and federations. It also sees partnerships with professional athletes as an important way to draw in young customers. Basically Nike does not have a specific age group for their target customers but instead target people who loved the design of it and have a strong sense of athletics.
So, what are the main reason that people are choosing Nike over other big titles? What is the main unique selling point of their product and what benefits does the product provide. Well in a marketplace crowded with competitors, failing to communicate the unique value of your product or service can turn your offering into a commodity, and then the only way you can compete is on price — a risky strategy I’d say. Nike took their sale of an everyday product and built a mystique around them with innovative designs of its durable and high-quality footwear. Its most famous catch phrase or its slogan “Just Do It” is what make its distinctive swoosh logo differentiate its products from the competition. The Nike brand was also branded from everyone’s perspective that everyone is an athlete and Nike have the footwear and apparel to help people realize their ambitions. Sure, Nike might be a little pricey than others brand costing average $300, but it also has products with affordable prices which most people will not be having trouble obtaining it. Professional athletes from around the world use Nike even today and that’s what Nike’s unique selling proposition is.
Nike targets both man and woman but recently targeting on woman as it is their main source of income. There are three major competitors that are competing against Nike. Firstly, I will talk about Adidas, a brand that that is ranked second only after Nike which is first. Adidas is a brand that was founded by Adolf “Adi” Dassler who made sports shoes in his mother’s laundry room. His older brother Rudolf joined the business, which became Dassler Brothers Shoe Factory. The reason why Adidas is second is most probably because of advertisement. Nike owns basketball and is associated with big stars like Jordan there4fore creating a shoe base on Jordan. The quality for them are pretty much on par but Nike has an edge over it because of how much revenue they can afford for better quality shoes. Adidas main selling point is it is cheaper than Nike and therefore causing people to buy them. Adidas have the upper hand when coming to their boost’s technology. It also has the Primeknit Technology which is a little bit extra flexibility and comfort than Nike’s version.
The second competitors that I will be talking about is Puma. Puma is a German multinational company that designs and manufactures athletic and casual footwear, apparel and accessories, which is headquartered in Herzogenaurach, Bavaria, Germany. The company was founded in 1948 by Rudolf Dassler. Puma has this image that stands for the quality, the neo-technology and the prestige. It is also a very competitive brand in athletic footwear. Puma has a very strong financial power therefore they are also able to make quality shoes