Nike Market Analysis
Nike’s
Market Analysis
Nike’s Market Analysis
There are many companies offering similar but not identical products, this is called Monopolistic competition market, and there are also many buyers that perceive differences between these products like service, features, design and quality, so they are willing to pay different prices for them. Therefore, each firm influences each other on the extent of the product prices or has some control over some. For instance, exists different marketing tools that firms use for competition, such as branding and personal selling to differentiate their offerings and advertising.
Nike is located at Bearverton, Oregon. The company was founded in 1978by Bill Bowerman and Philip Knight, named Nike and become the number one sports manufactures in the world design by Nolan Breitbarth in the 1970’s.This company sells sports products worldwide. Nike sells a huge range of products, including shoes and apparel for sports activities like volleyball, cycling, golf, athletics, American football, tennis, combat sports, basketball and football.
Nike is a company that has attained success in the market thanks to the excellence of its products and the passion for everyone to use its brand products that create the Nike Just Do It feeling for the competition. The proven strategy of the company is to create a consumer’s perception of brand influences their buying decision in sports industry by athletic expectation that is endorsed by real athletes, technique that has revolutionized the sports marketing. Nike recently teamed up with Apple Inc. to produce the Nike + product which monitors a runner 's performance via radio device in the shoe that communicates with the iPod nano. American brand Nike is number two in terms of name recognition among foreign consumers and is a sponsor of different players, events and sports teams, among others, and is the number one sports brand in the world.
The direct competition of Nike has
Market Analysis
Nike’s Market Analysis
There are many companies offering similar but not identical products, this is called Monopolistic competition market, and there are also many buyers that perceive differences between these products like service, features, design and quality, so they are willing to pay different prices for them. Therefore, each firm influences each other on the extent of the product prices or has some control over some. For instance, exists different marketing tools that firms use for competition, such as branding and personal selling to differentiate their offerings and advertising.
Nike is located at Bearverton, Oregon. The company was founded in 1978by Bill Bowerman and Philip Knight, named Nike and become the number one sports manufactures in the world design by Nolan Breitbarth in the 1970’s.This company sells sports products worldwide. Nike sells a huge range of products, including shoes and apparel for sports activities like volleyball, cycling, golf, athletics, American football, tennis, combat sports, basketball and football.
Nike is a company that has attained success in the market thanks to the excellence of its products and the passion for everyone to use its brand products that create the Nike Just Do It feeling for the competition. The proven strategy of the company is to create a consumer’s perception of brand influences their buying decision in sports industry by athletic expectation that is endorsed by real athletes, technique that has revolutionized the sports marketing. Nike recently teamed up with Apple Inc. to produce the Nike + product which monitors a runner 's performance via radio device in the shoe that communicates with the iPod nano. American brand Nike is number two in terms of name recognition among foreign consumers and is a sponsor of different players, events and sports teams, among others, and is the number one sports brand in the world.
The direct competition of Nike has
References: 1. Nike Inc. (NKE) -NYSE. [ONLINE] Available at: http://finance.yahoo.com/q?s=NKE. [Last Accessed 5/15/13]. 2. Dmitriy Kha. Monopolistic Competition. [ONLINE] Available at: http://mail.beaconhill.org/~dkha/data/Micro%20Lectures/Lecture%2011.pdf. [Last Accessed 5/14/13]. 3. Paige Adams, Haley Smith, Laura Freeman, Dan Lawson, Hayley Jacobs, Gage Mitchell. NIKE Industry and Company Analysis. [ONLINE] Available at: http://kimboal.ba.ttu.edu/MGT%204380%20Fall%202012/001/NIKE%20Industry%20and%20Company%20Analysis.pptx. [Last Accessed 5/13/13] 4. John B. Taylor, Akila Weerapana, (2009). Principles of Microeconomics. 6th ed. Boston, MA, U.S.A.: Houghton Mifflin. 5. Avinash K. Dixit, Joseph E. Stiglitz. Monopolistic Competition and Optimum Product Diversity. [ONLINE] Available at: http://www.jstor.org/stable/1831401. [Last Accessed 5/14/13].