Reasons why Nike has Dominated the Market
What may be trendy today may not be trendy tomorrow. If a brand is unable to stay relevant, then they suffer a risk of losing its market. Nike has also ensured that there are a variety of products for all ages in the market. Nike was initially known as the blue ribbon company. The company changed its name from Blue Ribbon Company to the Nile in 1978. Most of the products produced by Nike have received positive reception and thus fitted in as casual wear.
Having long-term deals with superstars. 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. It is quite obvious that one will buy a pair of shoes with association with the person they identify with. By having long term commitments, Nike has been able to influence generations to wear and buying Nike products. When Nike identify new and upcoming celebrities, they can grow with them until they are well known. Nike has ensured that their markets stable thus encouraging celebrities to renew their contract with them over and over again.
Investing in their marketing has seen Nike be one of the most trusted brands. Through marketing, the brand start conversations among the possible clients, and they can give feedback about the product. 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. It is the dream of every individual to be considered classy and fashionable. If the celebrity they love wears a certain shoe Nike ensures that there are a variety of sizes for children and adults.
Acquisition of companies has helped Nike to expand drastically. In every field of business competition is always present. Through mutual agreements, Nike dissolves competing companies making them part and parcel of the brands. The bought company’s ideas are usually incorporated with Nikes making unique designs. Nike is, therefore, able to own most of the shoes, clothes and other accessories on market shelves. This no strong completion Nike has managed to stay relevant in the market.
Standard products are a key factor which has led to Nike remaining relevant in the market. A produce or manufacturer only way of gaining customers trust is by ensuring that the good they produce are of the required standards. With this knowledge, Nike has managed to get customers to have faith in them. 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. Nike relevance has also been boosted by its unique ideology as designs over the years.