is its core market, its supply chain and distribution network is spread globally. It has 1152 stores operational around the globe. However, its financial performance is also a testimony to the fact that investment in R&D will help you strengthen your brand. Investing in R&D has helped gain a large market share and the popularity of Nike products has also grown. The size of their investment in R&D is much larger. However, compared to Under Armour, both Nike and Adidas are more aggressive for growth and expansion. It is why innovation is a core focus for Nike and its rivals like Adidas and Under Armour. People are looking for stylish and durable products. It invests in research and development, to learn about customers’ taste and fashion trends.Ĭlass="p3"> Athleisure products have grown increasingly popular in recent years. Nike’s strong focus on innovation is tied to its business strategy. Moreover, product innovation has become important due to the fast changing preferences of customers.
Whether it is a technology brand, fashion, or a sports brand, innovation offers new ways to tackle leading challenges. Innovation can be a source of competitive advantage. High brand equity has translated into stronger financial growth for the brand. Whether it is about product quality, sustainability, or supply chain, Nike has maintained a strong focus on ethics, accountability and social responsibility.
It sells products that are excellent in terms of design and quality. This is also why the customers love Nike. It spends a lot on research and innovation as well as marketing which enables it to bring the best designs to the market before its competitors do. Moreover, it has focused on customers’ taste and cha nging preferences. It is a customer-oriented brand that knows its customers inside out. Nike is a leading brand of athletic wear because it has built high-level brand equity. Brands that have built a high level of trust in the market and among their customers are ahead of their competitors. Brand Equity:īrand equity is a major strength for any brand.Ĭustomer trust, customer experience as well as customer engagement are among the several factors that together affect band equity. Read about the several sources of competitive advantage of Nike in this article. Its financial performance has kept growing over the years which is evident in how Nike’s revenue has grown over the past five years. Unique designs, great product quality, product and process innovation, and marketing have helped it achieve a strong competitive edge. However, Nike has got an edge over its competitors owing to several factors. It has outsourced most of its production.Īround 124 footwear factories and 328 apparel factories manufacture Nike products (2018).Ĭompetition in the athletic wear industry has increased a lot. The brand has managed a heavy focus on research and development to bring innovative products as well as footwear and apparel made from sustainable material to the market. In 2019, Nike had a total of 1,152 retail stores worldwide.Īs of 2019, Nike has 768 stores located in international markets and 384 in the United States. The United States is the largest market of Nike accounting for more than 40% of its total sales in 2018.
Apart from Jordan, other subsidiary brands of Nike include Converse and Hurley. It offers products in six main categories – Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Training, and Sportswear. The company was incorporated in 1967 and is the largest seller of athletic footwear and apparel in the entire world. The swoosh logo of Nike is easily recognizable among the crowd of brands worldwide. It has maintained a strong and unique brand image.Īs a brand, Nike is deeply connected with sports and strives to encourage sports fans throughout the world. The company is equally strong in terms of marketing.
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