Today I looked at an article that focused on Nike and what made them so profitable/successful. The article showed the 4 Reasons Nike is Still King of Branding.
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| Source: www.therichest.com |
I wanted to find out what makes an action sports company so profitable so I went on to research the biggest company I could find, Nike. The first example is how Nike associates themselves with the big names in action sports. Michael Jordan has his own shoes made by which company? Nike. Then there is Tiger Woods and his products in golfing, Derek Jeter sponsored by Nike for baseball and Cristiano Ronaldo with his shoes from Nike. The company has always made sure to lock up athletes early as they have seen the “Next Best Thing” before any other company. They locked up Michael Jordan in 1984 and never let him out of their sights. Now Nike has Rory McIlroy in a 10-year, $200 million sponsorship golf deal.
Next is that Nike really knows how to make an everlasting impression on their consumers and investors. They are not the average company with average advertising. Nike is always changing and always adapting to the modern trends. They have never been afraid to take risks in advertising campaigns. They definitely make unforgettable tv commercials.
The logo is the most distinguished part in a company. Nike has the “swoosh”. It is one of the most recognized logos worldwide. Then their slogan “Just Do It” is most recognized around the world also. Nike really knows how to communicate with their consumers to keep a consistent brand.
Future Question: Which action sports companies have failed to grow in the market?
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