Why Nike is so Popular
It almost impossible to keep up with fashion trends. When in the fashion industry, staying on trend and relevant is key. Apart from maintaining relevance; other factors contribute to market dominance; they include marketing, quality, and varied designs. Nike was initially known as the blue ribbon company. The company changed its name from Blue Ribbon Company to the Nile in 1978. When walking around you cannot fail to recognize one or two people wearing Nike, and there are ways in which Nike has managed to dominate the market over the years.
Having long-term deals with superstars. Athletes with huge fan base are the key targets of Nike. Nike maximizes the sale by naming the shoe line to a certain celebrity, thus capturing all their fans. Nike is known to make long-term commitments with celebrities, unlike other brands. Nike is vigilant to identify an upcoming and potential celebrity. With the many endorsements at the display of celebrities a company looking forward to dominating the market up their game to have the best deals.
Investing in their marketing has seen Nike be one of the most trusted brands. Marketing involves making a brand known to its potential marketing. The Nike slogan has been very helpful as it has seen a lot of people identifying with it. With their quality products, Nike has die-hard fans who will buy any new product from Nike. When a celebrity wears the products of Nike then the products are usually associated with the class. Children like to identify with the celebrities they love.
Reducing the completion against them has Nike to be a renowned brand. There are a large number of Nike competitors all over the world. Through mutual agreements, Nike dissolves competing companies making them part and parcel of the brands. The bought company’s ideas are usually incorporated with Nikes making unique designs. The market which had been dominated by the bought companies are incorporated with others owned by Nike around the world. This no strong completion Nike has managed to stay relevant in the market.
In conclusion, quality products have maintained Nike’s market dominance. If the goods produced by a company are of good quality then they are likely to last long. Despite the individual looks for a product that will serve efficiently. Nike is known for quality sportswear to footwear. Despite the price of the Nike product, customers still buy knowing there is a low possibility of untimely replacement. Producing quality products over the years has made it impossible to come up with counterfeit.