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Nike’s Powerful Strategy To Market Itself And Make Billions

"Just do it," Nike's classic phrase, is well-known. The brand's shoes, as well as celebrity sponsorships and the swoosh insignia, have become more popular than ever among consumers. Is this, however, all Nike has to offer? Is there anything specific about their marketing plans and methods that you'd want to know about?

The Nike logo, which most of us recognize, was not the only thing that helped build an empire, at least not at first. Many clever marketing strategies are what put them on the map of the most popular brands. Furthermore, it isn't a particularly complicated method. However, it demands a company to be persistent in its efforts and supply customers with actual and relevant values, just like any other good marketing technique.

You'll be astonished to learn that shoes aren't the only item that's propelled Nike to this point. It's a brilliant collection of marketing strategies for every facet of the business that brought Nike billions of profits and made the Nike we know today!

Nike’s History & Marketing Strategy

Nike, Inc., formerly known as Blue Ribbon Sports from 1964 to 1978, is an American sportswear company based in Oregon. Blue Ribbon Sports was founded by Bill Bowerman in 1964. Bill was a coach at the University of Oregon when he decided to create a company with Phil Knight, a former pupil.

The first Nike store opened in 1966, and the Nike brand shoe debuted in 1972. In 1978, the firm changed its name to Nike, Inc., and went public in 1974. As we approach the twenty-first century, Nike has retail outlets and product distributors in over 170 countries, and their logo - a checkmark with a curve known as the "swoosh" - is instantly recognizable all over the world.

The Nike brand name is not a random collection of letters. The name Winged Goddess is derived from the Greek goddess of speed, strength, and triumph. The wing was the idea for Nike's swoosh.

The marketing approach plays a big role in how Nike differentiates itself from other shoe brands. Let's take a look at Nike's marketing approach for achieving and maintaining its position as the market's dominating company.

  1. Position Products Carefully. Nike has a distinct character as a sportswear brand, which it has cultivated through time through a variety of marketing methods. However, there is one aspect that plays a critical role in all of them: product positioning. Professional athletes, sportsmen, and those who want to start a sporty or healthy lifestyle are the target segments for Nike. This sector has a lot of potential, and customers should be serious about making a purchase. You're halfway to success if you can name one or two qualities of your items that can be leveraged to set them apart from the competition. Nike's owners declared the company's shoes' distinctiveness with three criteria, allowing shoppers to quickly determine whether to buy Nike shoes or look for another brand. All of your marketing approaches will immediately work to affirm the attributes and acquire some space in customers' eyes once you have the solution to the positioning question, even if it is not easy.

  2. Sell Touching Stories Not Just Amazing Products. For nearly 50 years, Nike, a remarkable storyteller, has generated a sense of belonging for any of its clients. Nike customers must be aware of their strengths and develop the desire to get stronger, faster, and higher. Bill Bowman and Phil sought to design apparel that would help athletes attain their full potential. Lightweight, comfy, durable, and supportive are the first features that come to mind when people think of Nike. Nike's products encourage people to believe in themselves and to train their bodies and minds to face life's difficulties. Nike recognized the importance of narrative early on and has continued to use it to create consumer loyalty and raise brand recognition. They may readily come up with innovative story concepts for the brand based on the company's basic features, which are related to targeted consumers' aspirations, ambitions, or lifestyles.

  3. Employ the Power of Social Media Marketing. Because many of Nike's customers are social media users, the company realized that it needed to interact with audiences through social media channels as quickly as possible in order to establish brand recognition. When you successfully sell the stories, values, and benefits, you may not need to worry about competing on pricing with your competition. Simply concentrate on adding value to your consumers' lives through the use of your products. According to a 2018 Adobe report, millennials and Generation Z, who were born between 1980 and the early 2010s, are most likely to use social media as a connecting channel with digital advertisements. Nike, as a brand that caters to the younger generation, recognizes the need of incorporating social media into their marketing plan. Nike's social media marketing strategy includes the following tactics:

  • Collaborate with well-known individuals

  • Take advantage of content that has been submitted by users.

  • Make an appearance in the conversations of your customers.

  • Distribute your article across multiple social media platforms.

Conclusion (Just Do It)

If all of this appears to be a lot of information to you, it is. The finest practices and techniques should be incorporated into a marketing strategy. If there's one thing you take away from this article, it's the concept of developing marketing material that spreads rather than just selling.

That is how Nike's marketing strategy elevated the brand to global prominence, by encouraging people to talk about the firm not just for its products, but also for its culture. Don't be afraid to take risks with your marketing plan, just like they did. You're an eCommerce athlete as well.

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