Case Study Of Nike|| Most Iconic & Valuable, sports brand of the World||
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- Опубліковано 30 чер 2019
- #CAMeenaVerma
In the 1950s and in the early 1960s, One German company dominated the American shoe market. Athletes were not getting shoes what they wanted and they were buying what was available in the market. Giant shoe manufacturers dictated the market. None of the big companies was willing to solve the problems faced by athletes.
In 1964, Phil Knight, a track athlete, who had just graduated out of college, started a company called ‘Blue Ribbon Sports’ in partnership with his track field coach ‘Bill Bowerman’, with an initial investment of $1000 and began to sell ‘Tiger’ brand sports shoes, imported from a Japanese manufacturer, with an aim to improve the lives of people.
The Tiger’s sales continued to rise rapidly every year. At the same time, Phil began to face problems with the Japanese manufacturer. Finally, he was forced to start manufacturing his own brand of shoes in the year 1971 under the name ‘Nike’.
Nike is the most iconic and valuable brand among sports business have turnover in billions
POSITIONING
The first and foremost factor for sustainable competitive advantage is to position your brand inside a consumer’s mind. The ways to enter their mind is
Becoming a leader in an existing product/service category,It would need huge investments in money, effort & time and not a practical option
or Becoming first in any new product/service category. In other words, you need to create a new category.
If you plan to create a new category, then the conventional wisdom is to look for a niche market. Finding a Niche Market. The general rule is to start small. Smaller the segment, it is easier for the entire company to focus and meet the customer needs, wants and desires. Once you become a leader in the niche market, you could grow your market.
Phil Knight’s Niche Market and Value Propositions
Bill Bowerman, had constantly motivated his wards to develop a winning attitude.but for winning, ‘speed’ is the defining factor and he believed that shoes played a major role. The best shoes in the market at that time were from German manufacturers but they also had poor sole material.
“A shoe must be three things, It must be light, comfortable and it’s got to go the distance.” And at the less price than German brands in the market -Bill Bowerman, understand need of athelete & tried to develop problem solving product.
For Customer Acquisiting - Customer Care is important, personally interacting them and giving them personal touch.
If you care about your people, they would care about your product or service.
He was working on Empathy
He was not calling his customers as consumers. “ sell our product or services to them?” (not just to earn profit) - It reduces people to mere objects. It diminishes empathy.
Phil considered his customers as humans or fellow people or importantly, runners. This thought prompted him to think “How to improve their lives?”
Every product manufacturer was promoting their product by targeting the ‘Fear Psychology’ of consumers at that time. On the other hand, Phil Knight motivated the consumers to use the product, not through ‘fear’ factor but through ‘Hope’.
GROW YOUR MARKET THROUGH CUSTOMER EDUCATION
Red Ocean or Blue Ocean? -For Phil, if he was looking to increase the market share in the existing market,if he would be spending his scarce valuable resources in fighting those competitors. He would have vanished from the market. To avoid this, the best option was to look for a Strategy to grow the market rather than just aiming to grow the company’s market share in the existing market.
Non-Customers -The first step to expanding your market boundary is to shift your focus from “Customers” to “Non-Customers”.
Fighting Non-Consumption -To overcome the ‘Non-Consumption’, the first step was to educate them the benefits they would derive from your product or service.
Nike’s Customer Education
In the early 1960s, running for fitness wasn’t popular. It was believed that only weird or crazy people would run for pleasure or exercise. Runners were mocked at that time. People threw soda or beers at runners. Not a pleasant time.
Nike’s original founders Bowerman and Phil Knight firmly believed that people could live a healthier and longer life if they could run for a few miles every day.
Their mission was not to earn profits but to educate customers about the joy of running.
He firmly believed that if a person has a body then he is an athlete.
Jogging Culture -Bowerman promoted the concept of running as a fitness routine, including people of an advanced age through writing articles in magazines. In 1966, he wrote a book titled ‘Jogging’, which preached the benefits of jogging and the techniques.
In that book, Bowerman never spoke about ‘Blue Ribbon’ or its shoes. But the book brought enough publicity for the company.
It became trendy and cool. The market for shoes expanded beyond athletes.
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amazing video mam
Thank you soo much
osm
Great job madam
Keepbgoing
Wow Ma'am loved it
And thank you for your good information
Nice
Ur case studies are awesome
Loved your video. Great information. Thanks a lot.
Glad it was helpful!
Madam thanks for video. That is business strategy in detail case study which is very helpful to us. I once again thanking and sparing your valuable time with us. Best wishes. God bless you.
Nice mam thank you 😀
I have watched this first video of yours and I think you explained in a very well way,thanks a lot
Wow didi☺.knowlagable video.
Your video is truly helpful ma'm ❤️ learning business strategy with case study is very attractive,, please offer more case studies 🙏
Sure Abhay :)
Gud one
Thank You Vishal 😊
Your very good please make some more case study about addidas
Truly Amazing Meena ji
Gulshan jiju ji, every business is a story n we have lesson to learn.
Absolutely true
You are amazing diii
Thank you Nikki
Nice video mam. Please FILA and ASICS pe video banayia
Mam aapne ye cantat kha se liya
Book ka name ya web site ka name kya h
✌✌✌
Cash study of saffron life style ....hame is chij ki requirements he.pl
What eh presentation
Thanks you so much Mam me from Pakistan.
Hii si
Well Presentation madam.. Upload more related videos ...
Forsure Manish. Thank you for appreciation ☺
Appp thodi short video kareiaa
Video unnecessary long horahahe
Madam I want your help to staring my business.. how it's possible??
but how you set your titles is in English not another languages you can proud of whatever language you speak but do not mislead so people would not click on your videos
Ok I will take care of this in future
Ma'am aap Nike ko wrong pronounce Kar Rahe ho
Yes I will improve. Thanks for your feedback.🙂
misleading not even speaking english
Hindi is my mother tongue, I feel proud to speak Hindi ❤