Reasons why Nike has Dominated the Market
Fashion trends change from time to time. Relevance in the fashion industry is crucial in establishing your brand. Nike has embraced these key factors to make it a market dominator. The promotion happened after the United States Olympics trials in Canada. Ever since Nike has continuously held a place in the fashion industry. Most of the products produced by Nike have received positive reception and thus fitted in as casual wear.
Having long-term deals with superstars. Nikes known to be associated with established athletes and celebrities. It is quite obvious that one will buy a pair of shoes with association with the person they identify with. Nike is known to make long-term commitments with celebrities, unlike other brands. When Nike identify new and upcoming celebrities, they can grow with them until they are well known. Nike has ensured that their markets stable thus encouraging celebrities to renew their contract with them over and over again.
Secondly, Nike has the best marketing strategies. 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. Nike also uses celebrities as a marketing strategy. 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. In every field of business competition is always present. Through mutual agreements, Nike dissolves competing companies making them part and parcel of the brands. BY buying out competing companies Nike has reduced competition. The facilities and workforce of the bought companies are used to create more expansion of the brand. Nike has expanded beyond its territories to more and more nations through acquisition companies.
In conclusion, quality products have maintained Nike’s market dominance. A produce or manufacturer only way of gaining customers trust is by ensuring that the good they produce are of the required standards. Despite the individual looks for a product that will serve efficiently. Nike is known for quality sportswear to footwear. The production of the good quality product should be consistent with being known all over by potential clients. Nike relevance has also been boosted by its unique ideology as designs over the years.