Products - Weakness Nike has had much success as a result of collaborating with other companies within the sports and fitness industry. However, at times we expanded into markets for which we were not strategically suited. An example is the decrease in brands made available due to declining sales of in-line skating and roller hockey products at Bauer Nike Hockey.
Thursday, February 21, General Environment Factors of Nike There are many factors that play a key role in how successful or unsuccessful a brand is.
Within the Nike brand, demographics are a main concern. As people age, they will more than likely stop purchasing Nike apparel and move on to a more comfortable brand such as New Balance. It is very common to see an older person wearing new balance shoes. Also, the buying Nike sociocultural are based on how people are located geographically.
It would be extremely rare to see a farmer working on the ranch sporting anything Nike based.
Although farmers are not the target market for Nike, this does play a role in where and how often their product is purchased.
From a sociocultural standpoint, Nike goes hand in hand with the recent concern for fitness in not only America, but throughout the world. With this concern and people starting to workout more often, their product will be purchased more often.
Also, Nike has included Hope Solo in a few of their commercials. She is a very popular women's soccer player. With more women in the workforce, this has a positive effect on Nike. Nike could generate a substantial boost in profit by implementing people who are a part of the Americans with Disabilities Act into their marketing efforts.
This would create a strong, caring image for the brand. Technologically, Nike has done a good job in giving their product easy exposure. They take part in computer-aided designing, computer-aided manufacturing systems, and have shown an emergence of internet technology.
On the Nike website, you are able to design your own shoe and purchase it in just a short time. They allow you to choose whichever colors you please. This easy and simple way is very favorable among consumers.
Economically, Nike must be aware of the interest rates. In order to be successful, they must make the right decision depending on the interest rates. Also, their sales would dramatically decrease in the instance of a recession. Nike is a brand that would suffer a great deal if there were a recession.
This is due to their luxurious image they have created throughout the years. Globally, Nike should continue to expand their horizons internationally.
Especially in areas of greater wealth. They have done a great job in becoming internationally known. In order to become the best, they must keep releasing new products that consumers around the world are attracted to.SOCIO-CULTURAL It is important for Nike to understand the sociocultural environment which is made up of forces that affect society’s basic values.
location. Therefore. occupation. From increasing the use of water-based solvents in footwear manufacturing and working to keep greenhouse gas emissions in check. self-actualization/5(1).
Nike, fully known as “Nike, Inc.”, is a US-based transnational corporation which provides trendy, functional sportswear across the globe.
Having been founded in , Nike serves to “bring inspiration and innovation to every athlete in the world.” . Nike’s Recommendations Nike Inc. must address a variety of opportunities shown in this PEST Analysis.
These actions address regulatory and sociocultural concerns and. recommendation cho nike Rapid technological obsolescence also threatens Nike by putting pressure on the company to increase its product development efforts. International Marketing Strategy FE VT Master Thesis Effects of cultural differences in international business and price negotiations - A case study of a .
In this way, economic forces play a major role in shaping the fortune of global brands like Nike. Social: sociocultural factors have grown to be more dominant in the 21st century.
It is because the taste of people differ from society to society and culture to culture. Society and culture have a major effect on purchasing habits of consumers.
Nike Inc. PESTEL/PESTLE Analysis (Political, Economic, Sociocultural, Technological, Ecological, Legal external factors) is in this shoe company case study.