Nike The Growth Stage Of Its Life Cycle - 2292 Words

Todays market place has hundreds of sporting based companies that compete for the same customers. One prominent player in this industry is Nike. O’Reilly (2014) explains how Nike has been in existence for over 50 years and has grown to be dominant in its market. It was founded in 1964 as a company named Blue Ribbon but officially took the name Nike in 1971. Nike (2016) states that they aim to create products, services and experiences for today’s athletes. To illustrate, Nike produces: footwear, athletic wear, athletic gear and provides sponsorship services to hundreds of athletes across the world. Furthermore, Nike (2016) illuminates how they employ more than 30,000 people. These employees range from marketers to accountants to retail employees. What is more, Nike also contracts with manufactures that employ more than 800,000 workers in several different countries. Currently, Nike is in the growth stage of its life cycle. Jones (2013) states that organizational growth is, â€Å"The life cycle stage in which organizations develop value creation of skills and competences that allow them to acquire additional resources†. Although Nike has been in existence for over 50 years they are continually innovating new products and services to maintain their growth. MarketWatch (2015) states that in 2011 Nike had a net income of 2.13 billion and in 2015 their net income was 3.27 billion. This clearly demonstrates how Nike is continually developing their domain and increasing the range ofShow MoreRelatedMarketing Objectives for Nike Sports Drink1342 Words   |  6 PagesObjectives Nike will have a number of different marketing objectives for their isotonic sports drink, Nike Go. A main market objective will be to establish the isotonic drink as the most credible sports drink in the market. This will not just happen though, this can only happen through a lot of promotion and appeal. Creating strong consumer awareness is very important in gaining market share as it is a completely new product from Nike. This can be done through promoting the product, Nike Go, and allowingRead MoreThe Athletic Shoe Industry Is Made Up Of Companies That Produce Footwear For Athletic Use1638 Words   |  7 Pagesindustry is one of the fastest growing footwear industries and have top growing sales compared to other footwear industries (NDP Group, 2016). The key players that currently dominate the market are Nike, Adidas, and Puma (Kates Bolduc, 2013). This paper will use the porter five forces, industry life cycle, and the key players to understand the industry. Over these years t he athletic shoe industry has grown into a competitive market. Porter’s Five Forces The athletic shoe industry will be first analyzedRead Moreï » ¿Life Cycle with Air Jordan1487 Words   |  6 PagesLife Cycle with Air Jordan Introduction Air Jordan belongs to a famous international brand called â€Å"Nike† which is a pair of legendary shoes. Nike, Inc. is an America transnational corporation that has its own design and technology, and it’s mainly products is clothes, shoes, and equipment etc. The Nike shoes also is one of fortune 500 company, and the rank of Nike, Inc. is 126. (A Time Warner Company, 2013) Different Nike’s Product have unlike Life cycle, because of epidemic and seasonality of productRead MoreProduct Life Cycle Of Nike Air Jordan889 Words   |  4 Pages2) Product Life Cycle Introduction Stage: During the introduction stage, the Nike Air Jordan one was a novelty in the marketplace as it was Michel Jordan’s first signature basketball shoe. Nike decided to go with penetration pricing strategy. They did this to help capture a large market share early on, by selling the Nike Air Jordan Ones for only $65.00 Compared to last years 2016 Nike Air Jordan one shoe release which costed $180.00, the original price of $65.00 for the exact same shoe was muchRead MoreMarketing Analysis : Nike s Strategy1540 Words   |  7 PagesIntroduction: The sports fashion industry refers to the apparel and footwear people exercise in. This industry has seen growth as there’s more demand for trendy sportswear, most notably women as well as an increase in competitors; new look, Topshop and boohoo. Young people are the biggest sportswear buyers and are the most interested in innovation. (Sender, June 2015) Nike, as a company, fit into this market as the leader in sports fashion as they ra nk #1 in most valuable sports fashion and #18 overallRead MoreWhat Are Some Reasons For Contracting A Product Line?1259 Words   |  6 Pagesproduct life cycle concept. What are the stages of the product life cycle? The product life cycle concept derives from the phases through which a product undergoes, from its introduction, to its growth in the market, to the maturity it attains in that market, to the very last stage of declination. The introduction stage of a product consist of the first time a product is available to the general public. Growth stage entails a products profitability and demand in the current market, in this cycle theRead MoreWhat Are Some Reasons For Contracting A Product Line?1273 Words   |  6 Pagesproduct life cycle concept. What are the stages of the product life cycle? The product life cycle concept derives from the phases through which a product undergoes, from its introduction, to its growth in the market, to the maturity it attains in that market, to the very last stage of declination. The introduction stage of a product consist of the first time a product is available to the general public. Growth stage entails a products profitability and demand in the current market, in this cycle theRead MoreCsr And Product Lifecycle And Its Components Essay1425 Words   |  6 Pagestoday’s consumer and marketplace is demanding and knowledgeable; an organization is wise to listen as they speak with their wallets and step up its CSR program. Product Lifecycle and Lifecycle Pricing Pricing is an important aspect in examining the stages of the product lifecycle: raw materials extraction, materials processing, product manufacturing, wholesale and retail outlets, purchasing and consumers and product waste and recycling. Lifecycle pricing exist to bring to light all aspects of theRead MoreMarketing Report for New Balance Company Essay1480 Words   |  6 PagesFor New Balance Company, In order to maintain a substantial amount of market share, to target several suitable segmentations is vital. Those profitable segmentations can make New Balance Company become more competitive among its competitors such as Nike, Adidas and Reebok. In the following section, different potential segmentations will be classified and discussed by analysing different group of customers’ characteristics, needs and wants. 2.0 Marketing Segmentation This is the first step inRead MoreNike Marketing Research2366 Words   |  10 PagesCase Study: The Marketing Mix of Nike, Inc. BADM 370 15 April 2013 Executive Summary Nike, Inc.’s debut in the 1970’s was a milestone for the athletic industry. Starting with a simple of objective of selling affordable, quality athletic footwear, Nike has undergone an incredible transformation over the years into a dominating sporting goods company due to an efficient marketing mix. Today, Nike has reached annual sales exceeding