Nike Strategy Branding

Nike’s Branding Strategy
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Nike’s Branding Strategy
Introduction
The uniqueness of Nike's products in the apparel industry is truly undeniable. This implies that they have taken the necessary measures to establish their product brand. The consumers are able to differentiate Nike’s products by simply looking at their logo or their famous slogan ‘just do it.’ Nonetheless, a successful marketing strategy goes beyond establishing a brand name. It is very crucial to plan on how to create awareness of the product and also connect to the consumer. Most importantly, an elaborate marketing communication plan is necessary to complement the brand strategy as well as to attain overall business success.
Situational Analysis
Market Segments
Nike Inc.'s main focus in the apparel industry is on sportswear; tracksuits, sneakers, and even hoodies. Consequently, athletes in both long and short distance races, footballers, basketballers, and few other sportsmen and women in sporting events are the most probable target consumers. Yoga fanatics, gymnasts, hikers, and many other body fitness enthusiasts also contribute to the consumer market for Nike’s products. Air Jordan, a Jordan Brand that is a Nike subsidiary is very common among the millennials in the contemporary world; comfort, classic brand name, and the Michael Jordan effect being the main influence ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"AGqk0QiX","properties":{"formattedCitation":"(Berger, 2018)","plainCitation":"(Berger, 2018)","noteIndex":0},"citationItems":[{"id":408,"uris":["http://zotero.org/users/local/IBolxqVE/items/BF9DN6EE"],"uri":["http://zotero.org/users/local/IBolxqVE/items/BF9DN6EE"],"itemData":{"id":408,"type":"chapter","container-title":"Cultural Perspectives on Millennials","page":"75–83","publisher":"Springer","source":"Google Scholar","title":"Millennials as Shoppers and Consumers","author":[{"family":"Berger","given":"Arthur Asa"}],"issued":{"date-parts":[["2018"]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (Berger, 2018). The North America region is the leading consumer of Nike's products and also there is a rising consumer market across Europe region, China, and Japan ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"Qw6qa5F5","properties":{"formattedCitation":"(CSIMarket, n.d.)","plainCitation":"(CSIMarket, n.d.)","noteIndex":0},"citationItems":[{"id":410,"uris":["http://zotero.org/users/local/IBolxqVE/items/BBERVXEH"],"uri":["http://zotero.org/users/local/IBolxqVE/items/BBERVXEH"],"itemData":{"id":410,"type":"webpage","title":"Nike Inc Customers by Division and Industry -","URL":"https://csimarket.com/stocks/markets_glance.php?code=NKE","author":[{"literal":"CSIMarket"}],"accessed":{"date-parts":[["2020",4,29]]}}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (CSIMarket, n.d.). Nike, being a Business to Consumer (B2C) firm, has its outlets established on various parts of the economic regions to sell their products directly to consumers.
Strengths/Weaknesses
Nike is undoubtedly the leader in the sportswear industry with a net valuation of approximately $34 billion, twice as...