Why Nike is so Popular
What may be trendy today may not be trendy tomorrow. When in the fashion industry, staying on trend and relevant is key. Nike has also ensured that there are a variety of products for all ages in the market. In 1972, Nike was promoted to a foreign market. Nike some of the things Nike deals include jazzy, sportswear, footwear, most of the Nikes production are for sports reasons. When walking around you cannot fail to recognize one or two people wearing Nike, and there are ways in which Nike has managed to dominate the market over the years.
Poaching of high ranking celebrities to sell their brand. Nike takes this to their advantage to sell their products to the fan thorough their esteemed athlete, a new creation and design is created with relevance to the celebrate or athlete. Nike maximizes the sale by naming the shoe line to a certain celebrity, thus capturing all their fans. Long term commitments have more impact than short term commitments. When Nike identify new and upcoming celebrities, they can grow with them until they are well known. Keeping celebrities in long term commitment requires good communication and trust.
Secondly, Nike has the best marketing strategies. Marketing creates awareness of any rebranding done on a product to the market. The Nike slogan has been very helpful as it has seen a lot of people identifying with it. One you see your favorite actor or musician wearing Nike product you will be compelled to buying the products. Nike ensures that their products are produced and available to all their potential clients once the new designs are out. Another marketing strategy is producing products of all sizes, including children.
Thirdly Nike has dominated the market by buying out other competitor companies. There are a large number of Nike competitors all over the world. Nike, however, is known for buying out competing companies. Low competition for a large brand like Nike means more and more sales. The facilities and workforce of the bought companies are used to create more expansion of the brand. The more the companies bought out by Nike, the more their dominance in the market.
Standard products are a key factor which has led to Nike remaining relevant in the market. When shopping every individual look for quality products. Despite the individual looks for a product that will serve efficiently. The good standard of products make it easy for customers to differentiate between the real Nike product and counterfeit. The production of the good quality product should be consistent with being known all over by potential clients. With the rise in the number of counterfeit companies Nike has been stood out.