Why Nike is so Popular
Fashion trends change from time to time. When in the fashion industry, staying on trend and relevant is key. Nike has embraced these key factors to make it a market dominator. In 1972, Nike was promoted to a foreign market. Ever since Nike has continuously held a place in the fashion industry. When walking around you cannot fail to recognize one or two people wearing Nike, and there are ways in which Nike has managed to dominate the market over the years.
Poaching of high ranking celebrities to sell their brand. Nikes known to be associated with established athletes and celebrities. For instance Nike may create a new sneaker design with the popularity of the brand these shoes are likely to sell and make profit. Nike is known to make long-term commitments with celebrities, unlike other brands. When Nike identify new and upcoming celebrities, they can grow with them until they are well known. Keeping celebrities in long term commitment requires good communication and trust.
Secondly, Nike has the best marketing strategies. Marketing creates awareness of any rebranding done on a product to the market. Nike has influenced a large population using its slogan the ‚ do it.‘ Nike also uses celebrities as a marketing strategy. Nike ensures that their products are produced and available to all their potential clients once the new designs are out. If the celebrity they love wears a certain shoe Nike ensures that there are a variety of sizes for children and adults.
Thirdly Nike has dominated the market by buying out other competitor companies. There are a large number of Nike competitors all over the world. Through mutual agreements, Nike dissolves competing companies making them part and parcel of the brands. BY buying out competing companies Nike has reduced competition. The market which had been dominated by the bought companies are incorporated with others owned by Nike around the world. This no strong completion Nike has managed to stay relevant in the market.
Durable products have played a major role in the brand Nike. When shopping every individual look for quality products. With this knowledge, Nike has managed to get customers to have faith in them. Nike is known for quality sportswear to footwear. The untimely replacement of products is more expensive than buying an expensive quality product. Producing quality products over the years has made it impossible to come up with counterfeit.
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