Nike has achieved tremendous success and growth
According to the statistics, Nike has been experiencing a significant increase in revenue in the North American market, thus indicating a positive trend of success. Its competitive advantage is mainly contributes the success in the U.S market due to its strong brand, customer loyalty and production of quality and innovative products. Over the recent years, Nike has also expanded and diversified its operations over all parts of America, and other different regions globally. For instance, the company has about 392 outlet stores in different parts of America. Also, it has achieved global expansion, having over 1000 outlet store in different countries globally. The global expansion has enabled Nike to acquire a larger market and customer base for its products. The emerging markets offers a significant opportunity for Nike to explore and achieve continued growth and success in the future. Some of the company’s leading emerging markets include Latin America and Asia. Currently, the two markets have been experiencing increased economic prosperity and high interest in sports, hence providing a promising market for Nike. Therefore, exploring these markets effectively will enable Nike to achieve future success and prosperity. Also, Nike is constantly developing new innovative products for both women, men and kids to satisfy the changing needs and preferences of its customers. As a result, this offers the company a better potential to achieve improved success in the future as the demand and market continues to increase.
Summary
For the last decades, Nike has achieved tremendous success and growth both in the U.S. market and internationally. For instance, it is leading producers and seller of athlete apparels globally today. Also, the company has been able to build a strong brand, customer loyalty and good customer relations due to its reliance on innovation and technology to produce high quality products. Based on its various strengths and opportunities, the company enjoys a better potential to achieve more growth and success in the next five years. For instance, the continued investment and reliance on innovative technology will enable it to design and develop highly innovative products for its customers. With that, the company will be able to attract more customers and ensure enhanced success. Again, Nikes strong brand and effective market positioning gives it a greater competitive edge against its rivals. As a result, it has a brighter future of success.
Furthermore, Nike’s excellent marketing skills, which combine various channels enables the company to successfully reach all its target markets, hence enabling it to acquire a wider market and customer base. Successful marketing by the use of appropriate marketing strategy is one of the key elements for the success of a company. Therefore, Nike holds a great potential of success based on its outstanding marketing skills and ability. Also, the emerging markets such as Asia and Latin America will play an essential role in boosting Nike’s success due to increased demand for the company’s products. Nike has great potential to sustain and maintain its competitive advantage, mainly because of innovation and use of new technology. Moreover, the company has already built a strong brand and image, customer loyalty and better customer relations. However, it should be worried of the increasing number of competitors who may challenges its success in the future.