Title: Strategic Marketing
You have been provided with a case study of NIKE (see Appendix 1). In your case report, identify three or four Marketing Challenges covered in this subject and address how those challenges can be met using the principles developed in this subject. Please ensure to use academic in-text references adequately to support your suggestions. Report writing format should be used.
Word count: 2582
In this report, Nike’s case will be studied with reference to the marketing challenges the company has faced. The methods regarding overcoming those challenges will also be studied in this case. Nike has grown from selling shoes from a car boot in 1964 to one of the world’s
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It all started with Phil Knight becoming brand distributor for Onituko Tiger in 1962. By 1972 when the Olympics were held, Nike was one of the highest selling brands in the U.S. and 4 out of top 7 finishers in races were wearing Nike. Unpaid endorsements such as Jimmy Connors helped Nike’s marketing endeavors. In 1974, Connors won Wimbledon and the U.S. Open. Endorsement by star athletes like Michael Jordon and John McEnroe helped the sales grow further. “Air Jordans” in the 1980s were a fashion phenomenon. Later, Tiger Woods also endorsed Nike. Lance Armstrong also proved to be one athlete whose endorsement of Nike brought huge sales for the company. However, after years of strong growth, in 1998 Nike experienced a 69% drop in profits which led to over 1500 employees being laid off. Adidas which was former world number one in selling sports shoes and Reebok’s innovative approach took market share. Arguably as Woods and Jordan aged, the younger generation found it no longer “cool” to be wearing Nike. This report will study the marketing challenges Nike has faced and the steps that should be taken to overcome these challenges (Clow and Baack, 2011).