Marketing proposal: Product and company description
Description of the company
Nike Inc., initially called Blue Ribbon Sports (BRS).It was found in 1964 by a track athlete form the University Oregon known as Phil Knight and his trainer Bill. The company was originally established as an importer of shoes that came from Japan. Nike has grown over the years, and it is now among the largest marketers of athletic footwear. It holds approximately 38 percent of the market share in the world. Products produced by the company are sold throughout the United States by retailers, and apart from the US, NIKE sells its goods in more than 157 countries in the world. It operates retail stores both in the United States and other countries in the world where it has established operations (Donaghu & Barff, 1990). Most of the products Nike produces are manufactured by independent contractors although, Nike is involved in designing, developing, marketing as the selling of lifestyle as well as sports footwear, accessories, equipment and services. The sportswear is designed in such a way that suits the needs of athletes, footballers, among other type’s players. Besides some of the footwear are designed for leisure purposes.
The organization focuses on a variety of brands including Brand shoes and brand Jordan products which are provided in 7 main classifications including running, football, basketball, Nike sportswear, women training as well as action sports (Donaghu & Barff, 1990). The firm also markets a range of products which are designed for children and recreational purposes such as tennis, wrestling cricket among others. Nike produces and markets performance equipment under its brand NIKE. These products include eyewear, digital devices, gloves, protective equipment, sports ball, and other equipment associated with the sport.
It is evident that Nike produces a wide range of products. However, the company can achieve faster growth through marketing of specific products that have the potential of yielding high revenue. For instance, designing, production, marketing, distribution and selling of sneakers would enable the company to make more profits (Frisch, 2008). The company produces high-quality sneakers and has the competitive advantage of promoting and marketing a variety of sneakers to increase customer base. Sneakers produced by the organization are differentiated regarding color and material, and this can make them appealing to customers.
The company has the opportunity of marketing sneakers for the elderly since currently there are only there are no strong competitors for such type of wear. Additionally, men especially those who are between 15-35 years have become stylish hence raising the demand for fashion footwears (Frisch, 2008). Furthermore, only a few firms have ventured into the improvement of therapeutic and health footwear goods in the market, and most competitors target the young individuals in the society.
Nike is a recognized company that enjoys huge revenue part of which can be used to facilitate the betterment of the organization. Thus, a portion of the profit that is generated can be reinvested in the business through promotion, aggressive advertisement and effective marketing to yield desirable results.
Donaghu, M. T., & Barff, R. (1990). Nike just did it: International subcontracting and flexibility in athletic footwear production. Regional Studies, 24(6), 537-552.
Frisch, A. (2008). The story of Nike. The Creative Company.