Strategic Management & Marketing: NIKE
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Added on 2020-03-16
Strategic Management & Marketing: NIKE
Added on 2020-03-16
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Running head: STRATEGIC MANAGEMENT & MARKETINGStrategic Management & Marketing: NIKE Student NameUniversity nameAuthor Name
STRATEGIC MANAGEMENT & MARKETINGExecutive SummaryThis report tries to analyze the management and marketing strategies of the leading footwearcompany Nike, Inc. in the initial part the report tries to explore the background and existingbusiness performance of the company based on their current strategies. Then the report exploresits mission, vision statement, products, management structure and future plans in order tounderstand how the management strategies work within the organizational structure of Nike.Next part explores the SWOT, PESTLE and Five Porter Forces of the company that highlightsthe various factors that influence the company’s business strategies. The key strategic issues areexplored and analyzed. The recommendation part suggested how the company by implementingcertain technological and effective business strategies can sustain their successful businessperformance.
STRATEGIC MANAGEMENT & MARKETINGTable of ContentsIntroduction......................................................................................................................................4Strategic Foundations......................................................................................................................5Mission Statement.......................................................................................................................5Vision Statement..........................................................................................................................5Strategic Managers......................................................................................................................6Products.......................................................................................................................................6Future plan...................................................................................................................................7PESTLE analysis of Nike................................................................................................................8Political Factors...........................................................................................................................8Economic Factors........................................................................................................................8Social factors...............................................................................................................................9Technological factors...................................................................................................................9Legal aspects..............................................................................................................................10Environmental factors................................................................................................................10SWOT Analysis of Nike, Inc.........................................................................................................11Strength......................................................................................................................................11Weakness...................................................................................................................................11
STRATEGIC MANAGEMENT & MARKETINGOpportunities.............................................................................................................................12Threats.......................................................................................................................................12Five Porter Forces for Nike, Inc....................................................................................................13Suppliers’ bargaining power......................................................................................................13Buyer’s bargaining power..........................................................................................................14Threat of substitute....................................................................................................................14Threat of new entrants...............................................................................................................14Competition Rivalry..................................................................................................................14Key Strategic Issues.......................................................................................................................15Struggling Apparel Business.....................................................................................................15Losing demand for certain products..........................................................................................15Woman products market............................................................................................................15Recommendation and conclusion..................................................................................................16Non footwear products and manufacturing casual footwear along..........................................16Building professional relationship............................................................................................16Internet and social media...........................................................................................................16Remuneration and rewards........................................................................................................16Reference.......................................................................................................................................18
STRATEGIC MANAGEMENT & MARKETINGIntroductionNike, Inc. is an American footwear manufacturing company that does businessworldwide. 47% of the global sports shoes market is covered by the company and it is at the topof its business. The company generated 6% more revenue in 2016 than 2015 as total amount of32.4 billion dollars were earned from worldwide revenue. In 1964 Phil Knight and BillBowerman founded the Blue Ribbon Sports that transformed into Nike in 1972 (Gibson, 2012).The company effectively promotes a strategic management and marketing campaign thatprimarily focuses on innovating and inspiring athletes’ shoes (About.nike.com, 2017). Theorganization operates in 700 stores in 45 countries outside USA. Their marketing strategiesfocus on maximizing the number of buyers so they offer various ranges of products for diversenumber of people of different ages and background. Though the company promotes thateveryone is an athlete and their products are suitable for everyone but the price ranges mostlyhighlights that the company aims for the high income groups. Reebok and Adidas are two maincompetitors in the footwear market that demonstrates high competition for the company (Team,2017).
STRATEGIC MANAGEMENT & MARKETINGStrategic FoundationsMission StatementNike, Inc. is leading the global corporate market in the footwear manufacturing areathrough their programs that are values their service providers, stakeholders, employees andcustomers. Nike claims to be the biggest seller of sports footwear in the world (Kell, 2016). Thecompany acts as competitive enough in all the necessary areas footwear competition likereliability, price, product, quality, marketing, promotion, customer- employee support andperformance. The mission statement of Nike says "To bring inspiration and innovation to everyathlete in the world."The mission statement echoes what the founder Bill Bowerman said “If youhave a body, you are an athlete.” The strategic goal of the company is well reflected by theirmission statement as it aims to reach out to maximum number of global consumers with theirsports apparel, shoes and equipments (Brohi et al., 2016). The analysis of the mission statementhighlights that the main three components of the mission statement are innovation, inspirationand satisfying every athletes in the world. The management leadership sets a winner mindset forall the team members through their inspirational goal that reflects the slogan “Just Do It”(Anegon, 2014). Company strategic management involves continuous improvement of theirservice through applying innovative technologies and bringing new products at regular intervals. Vision StatementThe company is also careful about its corporate social responsibilities as the CRS visionhighlights that Nike is working in order to develop a sustainable economy that keeps the balanceamong the profit, people and planet (Newell, 2015). The company highlights that in the processof achieving desired sustainable profit the consumers takes a major role. The vision statement
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