Nike is the most current brand in the whole world today. Nike supplies the world with sportswear ranging from the athletic shoes, clothes and other accessories one requires to participate in any sport. With the growing trend in the sportswear industry, Nike has seen a growth in the competition from other brands. Several brands are giving Nike a run for their money. Some of the brands in the market that are emerging as competitors are Adidas, Reebok, Asics, and other sports brands (Pokorn, 2005).
While Nike is still enjoying a bigger market share and sales worldwide, Adidas has been outperforming Nike in terms of gaining market share since 2005 gaining competition size in the products it produces. Puma, on the other hand, is also coming up after a low tide it had in the past decade the competition it usurps is based on the African Euro zone and the Middle East. However, Nike does not worry about this brand as it is still having financial problems. Under armor, in contrast is gaining tremendously as it goes head to head with Nike. Generally, Nikes competition margin is higher in the market and strives to keep it as such.
Nikes market share is unrivaled in the industry but the other brands are strategizing on ways to saturate the market share by devising better products to push into the market. Reebok and Adidas have merged making the brands more profitable and competitive. Moreover, the conventional sportswear has gone mainstream as brands like next and gap producing sweatshirts that are hooded, and track suits saturating the market with other options for the younger generations. Therefore, Nike needs to venture into pricing so that it can keep the market share it enjoys. Sportswear business provides numerous models of the benefits of marketing orientation. This dictated that Nike enhance the products it delivers to the market. This improved the market share for the company.
Nike has always centered its products on customer satisfaction. The company has utilized its resources to make sure the products it produces are more competitive in terms of quality. This is evident in the pricing of its products since they are comparatively pricy compared to other brands. You always spot Nike products on world-renowned athletes, which make it a clear depiction of the brands quality and elegance (Pokorn, 2005). Through dedication and innovation, Nike has made sure that its product and rends are associated with the most influential and successful teams, leagues, coaches, athletes to make sure the quality functionality in unrivaled. The company has a feature that any individual can design the shoe and post as a viable design making its market base settled in the brands motivational gestures. When they design their shoes, the customer feels closer and considered in the quality design.
Nikes brand image is centered on the best imaging advertisements. It makes sure the customer is aware of the hero in them through emotional advertising. By creating hero stories, the consumer is inclined to the sportswear that will assist in making them more productive and shun their lazy habits. Additionally, the involvement of the great athletes in their brand as their ambassadors makes consumers want to relate to the brand that their favorites associate to. Nikes brand image is strategized on the inspiration making the companys brand loyalty fervent (Pokorn, 2005).
Target Market and Marketing Strategies
As competition bracket keeps on skyrocketing, the target market that the brand is aiming at is the age between 18 to 35 years. The brand has created a personality that make the customers want their life to reflect. However, it has designs that suit the old generation due to comfort and elegance.
The company has different strategies that have penetrated the market effectively. Nike marketing is one of the most current expressive branding cases in the advertising world today. With customer loyalty and appreciation going off the charts, the brand has mastered the art of emotional branding (International Conference on Services Science and Services Information Technology, et al, 2014). The use of archetypes to drive in their message, Nike has created a powerful brand that arouses ardent consumer loyalty. Nike has utilized the internet to spread its brand globally. The internet has proven a marketing friend for the company as customers can access the new trends and propose their preferences that are included after scrutiny.
Adidas is a resilient sports brand in the world that makes Nike work more to keep its product market unsaturated. Adidas is known for its range of products similar to the ones Nike produces.
Strengths. Adidas is a brand that has legacy and heritage travelling a long way to defining its youthful products. The company enjoys a diversified portfolio with numerous footwear and accessories under reebok and adidas. The company has a great financial position that assists it to push the products that they offer (Strategic management analysis of adidas. Conditions in the sports equipment industry and available resources. 2015). It has collaborated with many companies enabling its sustainability. International Finance Corporation has given the company an edge over competitors creating a sustainable platform for the brand.
Weakness. Pricing is an issue the company does not enjoy. They have higher price ranges due to their manufacturing method making the brand affordable to limited customers. It outsources manufacturing from third party manufacturers who make the company dependent on outsourcing
With the recently acquired Reebok, the product line is diverse making it hard for expansion (Strategic management analysis of adidas. Conditions in the sports equipment industry and available resources. 2015).
Nikes Indirect Competition
There is indirect competition from other brands like Next as they have diversified their products into production of similar wears that Nike forcing the company to opt for pricing strategies that make their products stands out in the sea of options.
Pokorn, N. K. (2005). Challenging the traditional axioms: Translation into a non-mother tongue. Amsterdam: J. Benjamins Pub
International Conference on Services Science and Services Information Technology, In Liu, B., & In Du, Z. (2014). Advances in services science and services information technology.Strategic management analysis of adidas. Conditions in the sports equipment industry and available resources. (2015). Munich: GRIN Verlag GmbH.
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