Advanced Marketing

The industry in which Nike resides have been doing well for the most part in the last 5 years. Nike have managed to continuously keep their company revenue growing with just some little down falls over the years. Within this last year Nike keep make good revenue, but their stock prices drop about 20% due to competition company such as Adidas who also try to make a come up. Stock dropping made this last past year for not so good.

It’s always a risk when it comes to running a great company like Nike and who have been around for a long time. If Nike keeping using different avenues such as high-profile athletes and well know sport leagues to promote their company, it will keep making money. However, they must find other ways to market themselves because most these athletes will one day leave the sport and that will be hard to keep endorsing them without people losing interest in that product. Nike must also choose who they want to endorse wisely because not all people are a good look to be a spokesperson. Nike is keeping up with the now things and what people are looking to buy. Creating work out app’s and coming up with a wrist watch too was a great move for that company. To have those devices able to keep up with the different sport that like Nike to endorse is a good thing as well. Nike long term strategies are make sure they keep product that they came up with from the being of their company start up.

Nike top 3 competitors are Adidas, Reebok and Taylor Made. Most of these companies took advantage of new technologies before Nike got wind of it or invested into it. Things such as challenging industry and focusing on technologies, pricing, and cost production could have a disadvantage for these up and coming companies that try to get where Nike is today but also can be advantage for them to. Nike have the revenue which can be a great advantage for them to a head of all the other companies around them try to grow. Threat of new entrant’s base on first-movers advantage is minimal.

Nike must keep cost of production low and not only that must learn to keep with what people are buying today. Use more technology and get more new athletes that will be in the sport longer. These other company may want to take notes and use some of Nike market strategy that have been use over the years so that their company can grow as well. Also, the other company can try to target people that Nike is not reaching to gain them as long-term clients.