Nike Case Study Assignment Prime
About Nike • • • • •
Nike, formerly known as Blue Ribbon Sports, is an American multinational corporation. This is one of the world’s best sports and fitness companies. Bill Bowerman and Phil Knight founded Nike on 24th January 1964 The first Nike store was opened in 1966 in Santa Monica of California. It was in 1978 that the former name ‘Blue Ribbon Sports’ was renamed to Nike which is in use till date. • Headquartered in Beaverton, Oregon, US, it has over 73,000 employees. • The operating income of Nike is $4.44 billion and the net income is $1.93 billion.
Journey from a single store to over 1000 stores • • • • • • • • • • • •
1964: 1971: 1974: 1980: 1988: 1990: 1993: 1996: 2002: 2008: 2012: 2015:
Nike was founded as ‘Blue Ribbon Sports’. It was officially renamed to ‘Nike Inc’. Nike waffle trainer shoe got patented. Nike Shark was introduced. ‘Just do it’ slogan was coined. First Niketown store was opened. Reuse-a-Shoe program was launched. Nike was named as the marketer of the year. Nike bought surf apparel company Hurley International. Introduced eco-friendly shoe- Air Jordan XX3 Becomes NFL’s official on-field supplier Nike signed a deal to become official apparel supplier of NBA
Mission, Vision, Values, Purpose, and Motto of Nike • Mission: Do everything possible to expand human potential. • Vision: To bring inspiration and innovation to every athlete in the world. • Values: Inspiration, innovation, every athlete in the world, authentic, connected, and distinctive. • Purpose: To unite the world through sport to create a healthy planet, active communities and an equal playing field for all. • Motto: For the athletes by the athletes.
Nike SWOT Analysis • Strength 1. Value of the brand 2. Bringing innovation in products 3. Cost-effective production process 4. Strong customer base 5. Its core product line caters to the majority of the market. • Weakness 1. Retailers are a important factor. 2. Majorly known only for its footwear. 3. It is heavily reliant on the American market.
Nike SWOT Analysis • Opportunities 1. It has the potential to expand into other markets. 2. It has the potential to adopt sustainable practises. 3. It may be able to continue to create distinctive products. 4. It has a greater ability to sell directly to customers. 5. It has the potential to improve working conditions. 6. It can rely on fewer third-party vendors and retailers. • Threats 1. Counterfeits and duplicates continue to be a problem. 2. In the market, competition is very severe. 3. Budgets for marketing are continuing to rise. 4. Uncertainty in the economy can lead to serious problems.
Nike PESTLE Analysis • Political 1. US Policies 2. International Law • Economic 1. Threats in the market 2. High prices of products & labour issues • Social 1. Working conditions 2. Better lifestyle of people
Nike PESTLE Analysis • Technical 1. Presence of brand in social media 2. Continuous innovation • Legal 1. Laws related to employment and consumers 2. Counterfeit products • Environmental 1. Change in the environment conditions 2. Expansion of environmental law
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