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A Synopsis of the Nike Company
Introduction
Nike Incorporation is a major company that is well known for its manufacture and supplier of sportwear in the whole world. This company is based in the United States of America where it has its headquarters in Beaverton. Nike Incorporation is an international leading manufacture and supplier of athletic shoes and sport equipment. The Nike Company was founded as Blue Ribbon sports in 1964 by two founding members named Bill Bowerman and Philip Knight. In the year 1978, the Blue Ribbon Sports officially became Nike Incorporation. The word Nike is derived from a Greek word that denotes goddess of victory. The aspect of marketing of manufactured products in Nike Company follows their own brand and the Nike Golf, Nike Pro as well as Nike air. Other than this, the Nike Company operates small retail shops bearing the name of Niketown. The main sponsors of Nike Company are the key athletes in the whole world as well as sport teams (Carroll & Buchholtz, 2008)[1].
The company's profits in the financial year 2009 amounted to $19.2 billion. Most of the sales of the Nike Company come from America (34%) while EMEA's (Europe, Middle East and Africa) sales totals to 29%. The Nike's first product was the track running shoe. In this company footwear is the main product category representing 53.7% of the company's total profits. The Nike Company sells it products to a wide variety of sports hence competing with companies like New Balance, Reebok, Puma, and Adidas. The biggest competitor of Nike Company is Adidas with $13 billion in profits. Nike's marketing strategy is an important component of the company's success. Nike is positioned as a premium-brand, selling innovative, well-designed sporting goods. Nike promotes its products by sponsorship agreements with major athletes, professional sports teams and college athletic teams
An Overview of Nike Company
The Nike Company is managed by Marc Peter as the president and the Chief Executive Officer CEO. Nike Company excels as a team where the management has a strong teamwork which has assisted the company in competing very stiffly in the global market. Philip Knight is the chairman of the board of directors, Charlie Denson as the president of the Nike Brand. Other directors in this company include; Jim Allaker as the President and CEO Umbro Ltd., Mark Allen as the vice president of the Global Footwear Productv Creation and Operations, Kris Aman as the vice president Global Category Athletic Training, Tom Arndorfer as the vice president of Business Development in Nike Brand, and David Ayre as the vice president Global human resources among others. Other company's directors include; Don Blair, vice president & Chief Financial Officer, Sandy Bodecker as the vice president NIKE Global Design & Action Sports, Mike Brewer as the vice president of the North America Supply Chain Operations, Martin Brok as the vice president of the Western Europe Retail, Andy Campion the vice president and CFO, NIKE Brand, Andrea Correani the vice president of the Footwear Sportswear, and Diana Crist the vice president of the Apparel Product Creation among others. From this list it can be concluded that, the Nike Company has diversity in terms of leadership as even though there are more males than females the difference is not so big. Additionally, the leadership in this company is comprised of people who are well qualified in the marketing systems as can be indicated from the professionalisms of the directors of the Nike Company. The differences in professionalisms indicate that aspects relating to decision making within the company will be fast and effective (Werther & Chandler, 2010)[2].
The stakeholders of the Nike Company are the people or parties who have interests in this company and hence are affected by the decisions made by this company. These people include world renowned athletes and teams like foot ball team in Brazil, United States of America and Argentina among other football teams of the world. These are the people who are directly affected by the decisions made by the company on many issues concerning the management and marketing of the company (Turner, 2001)[3].
The Competition of the Nike Company
The Nike Company has been able to emerge as the largest manufacturer and supplier of sport shoes in the whole world with most of its market being in America. This has resulted from its capability to compete with other companies manufacturing foot ware like Japanese companies. The most underlying factor in Nike's competition is its world wide distributed outlet channels while it has 23,000 outlets in America alone. Additionally, the connection and association it has with the sport teams has played a great role in enhancing its competition. The Nike Company has strategies which have aided its competition with other footwear manufacturing companies especially its well affordable and long lasting gears. Additionally, the leadership in this company has played a significant role in as far as competition is concerned. This is because there is a team work in this company. A very strong competitor of Nike is the Reebok Company but has been always defeated in terms of competition by Nike Company. The biggest competitor of Nike Company is the Adidas Company that also manufactures footwear. In this case, the Adidas Company has annual revenue of $13 billion while Nike has $19.2. This indicates that Adidas is competing stiffly with the Nike Company (Malhotra, 2008)[4].
History of the Nike Company
Nike Company was established in 1964 as Blue Ribbon Sports by an athlete from the University of Oregon called Philip Knight. In its initial stages, Nike Company was a distributor of a Japanese company that manufactured shoes. In the year 1966, the Nike Company has increased in terms of profits which led to the opening of BRS which was the first retail store which was located in California. In the year 1971, the relationship between the BRS and Onitsuka was ending and hence the BRS launched its first footwear that bore the newly designed Swoosh. The first Swoosh designed shoe to be sold to the public in 1971 was called Nike and hence the name of the company. From there onwards, the Nike company started designing shoes from their owned designs a practice which earned the company a very positive reputation and hence its growth and development. By the year 1980, the total sale of Nike Company in the United States of America was more than 50% hence gaining a large marketing share in America as far as footwear is concerned. Additionally, in the 1980s, the Nike Company started expanding its market of athletic shoes to the rest of the world and hence entering into the international market of footwear (Cuizon, 2009)[5].
Nike Company initially operated as a distributor of Onitsuka Tiger which was Japanese Company before it was changed to ASICS. As the profits increased the first retail store was opened at Pico Boulevard in California. The purpose of this paper is to illustrate a summary of the Nike Company showing how it operates and markets its products. This study will indicate the overview, mission, vision, marketing strategies, code of ethics, social responsibility and history.
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Manchester United & Nike Football - Code Red