Strengths and Weaknesses of Nike Marketing Essay
Because these markets are growing rapidly, there is great potential for Nike to increase its sales. Nike generates over 7. and 5. from the Greater China and Asia Pacific regions. Given the growth in these markets and Nike's popularity, the company can easily grow its revenue at a CAGR from SWOT Analysis of Nike: Weaknesses. After examining the first part of Nike's SWOT analysis, its strengths, it is time to focus on the second part and examine its weaknesses. 1. Outsourced production with poor working conditions abroad. Nike has a large profit margin by outsourcing its production to other countries. Situational analysis of Nike based on the SWOT framework: a look at its notable strengths, weaknesses, opportunities and threats. 1. Strengths. A larger share of the global sports and athletic footwear market is controlled by Nike. North America may be the largest geographic market segment, but it has a global presence. Nike is the largest sportswear brand and company in the world and has achieved unprecedented popularity and profitability in recent years. Nike reported net sales of 39.00 in the fiscal year. It also holds up. The company has a market share of 4% in the sports footwear segment, which is its flagship product, and also has a significant share in it. Since these markets are growing rapidly, there is great potential for Nike to increase its sales. Nike generates over 7. and 5. from the Greater China and Asia Pacific regions. Given the growth in these markets and Nike's popularity, the company can easily grow its revenue at a CAGR of Nike Strengths. 1. Strong brand awareness and brand equity. Nike's reach is unparalleled. The name and distinctive jump symbol are known around the world and speak volumes about brand recognition and value. Nike's brand, which appears in Interbrand's international brand rating survey, is worth 53 points. This reputation does not only reflect the marketing mix. The marketing mix is divided into four groups called “The Four P's of Marketing”: Product, Price, Place and Promotion. . Product refers to the good and price refers to the amount for which the good is charged. Place is the way in which the good reaches the consumer, while promotion is the way in which awareness of the product is increased. Nike's Internal Strengths Nike's first notable internal strength is its strong global brand image. Research and Markets, 2012. Through its effective marketing strategy, the company managed to take the competition to the next level. Nike into a strong global brand. Second, the company has a rapid innovation strategy that supports continuous innovation. When considering a brand redesign, you need to consider existing and future brand concepts. These are all examples of good reasons to conduct a SWOT analysis. By identifying your objective, you can adjust your evaluation to gain more actionable insights. 4. Identify your strengths.