Marketing is not only the element for their success, but there are other important factors in count in sweeping the whole sports under their roof.
Nike has became the behemoth sports company in the sports world, which has a turn over of 15.9 billion US dollars in 2019 that covers majority of the sports market. It has acquires every field from apparel, clothes, or digital products. Unlikely there are ups & downs, where struggles and hassles have been in a track, whether its a flop launch of casual shoes or tough battle with the 3 C's- Competitor, Criticisms, or Controversies. But talking about a marketing, it was a backseat in 90's when Nike hit the 1 Billion without any advertisements. But after the tough competitions from the Reebok, they started opting marketing strategies, making investments in the sports events or hosting the games. Till today, marketing is not only the element for their success, but there are other important factors in count in sweeping the whole sports under their roof.
Nike’s Sports Marketing Strategies:
The co-founder of the Nike, Bill Bowerman which was a former track coach has always customized the shoes "out-of-the-box" which transformed the shoe industry with technology & innovations. The marketing strategy was always the back seat for Nike where they spend most of the time at sports grounds and events to know about the requirements of the athletes. By 1978, Jon Anderson won the Boston marathon wearing Nike's shoes, Henry Rono had set the four-track and field records in Nikes, Jimmy Connors had won Wimbledon, and the U.S. Open wearing Nike shoes. Sales and profits were doubling every year in 90's.
After a decade, they hit the meteoric growth after their flop casual shoes and uninformed competitor's "Reebok"- which came out nowhere and was signing the great athletes and dominated the market of aerobics. Reebok shoes were sleek and attractive and Nike shoes were sturdy and clunky. After that, they worked on the design and functionality of the shoes, and the great team of engineers and designers who were also athletes in their past, spend a lot of time at tracks. They started investing in marketing, top athletes, and sporting events to display their products to the advertisements and media.
Attach the Emotional benefit to the Product:
The one particular lifestyle slogan which the Nike's success root is understanding the emotional value of the customer which is "Healthy Lifestyle". It inspires people to become health conscious and live a healthy life to feel strong and confident. According to some sources, the field coach and also the founder of Nike did not sell the shoes by the marketing strategy, but the emotional benefits of the jogging and walking in lifestyle. They do not exaggerate their products or comparison, they focus on the advantages of healthy exercise & games.
Comfortness is the main ingredient:
The company introduced the "air-cushioning" technology in 1979 which was invented by the NASA engineer, that featured the gas-filled plastic membranes which are inserted in the sole for comfort during the running. However, in the 1980's the sales started dipping has broadened their paths by launching the "Air Max" in 1987 which has two independent bags inside absorbing the socks during the running & jumping.
Nike Provides a Wide range of Products Of Sports:
Nike is a global brand that focuses on three segments: Design, Develops & Markets. Although primarily designed for athletics but the Nike has stretched its boundaries from apparel & footwear to equipment & accessories. The share revenue generated by the Nike's product are: Footwear(64%), Apparel(32%) & Equipment(3%). In addition to shoes and sports equipment, they also provide clothing from casual clothes to watches, acquiring a major market share than any sports company.
Nike & Sports events:
Nike pays esteemed athletes in sports events to utilize their products and publicize their technology and design. Nike has sponsored many successful players in history from tennis player "Ilie Năstase" to "Sabastian Coe". The brand seriously started investing in the events such as World Cup 1994 hosted by the U.S, as a result, Nike claimed that over 65% of players have worn Nike products than other brands combined.
Trusted Sports Endorsers:
Michael jordan- the key sports player who helped transform Nike into the largest and valuable consumer brand, was paid $1 Billion dollars from Nike which is the highest endorsement in the history of the sports. Ironically, the first shoes of Jordan were banned by the NBA due to the league's color issues. But he has a close relationship with Nike, which offered the five-year deal to Jordan of $50,000 pay per year, a triple amount compared to other NBA players.
Nike is the brand for the champions and in the first glance people think before buying shoes is Nike! Popular expressions such as "Just DO IT" or "There are no finish lines" are beyond advertising.