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Recommendations for Nike
Nike, since its foundation, has managed to register an exemplary performance in the market hence staying ahead of its competitors. Despite the setbacks and challenges that the company has faced in the recent past, it has managed to come out stronger and smarter, edging some of its rivals out of the competition. All these breakthroughs can be attributed to the efficient and strategic management team of the company. However, Nike still needs to make a raft of changes to its operations to further improve its performance.
Nike owns no manufacturing plants. Instead, it contracts other companies to manufacture their products that include footwear and gaming kits. To live its mission and achieve the highest rates of client satisfaction, Nike should consider having its own manufacturing plant, managed by its managers who are keen and streamlining the company towards its mission and vision. According to Feng et al. (1390), companies involved in the production of their products achieve high levels of consumer satisfaction. Direct involvement would improve Nike’s performance.
Brand Ambassador and celebrity marketing are new marketing trends that are yet to be adopted by most companies. As ……. puts it, celebrity and brand ambassador marketing make a product stand out amongst competing products. Nike should push more of its resources into marketing, specifically, celerity marketing. It can use tennis player stars to market its sportwear, tennis shoes being its major source of revenue.
Nike should channel more resources to the development of an efficient ERP system. An efficient ERP system will ensure a diligent coordination of the activities of the company like its supply chain system and the overall management of the company.
Works Cited
Feng, Taiwen, Linyan Sun, and Ying Zhang. “The effects of customer and supplier involvement on competitive advantage: An empirical study in China.” Industrial Marketing Management 39.8 (2010): 1384-1394.
Sri, Jatin. “Advantage and Disadvantage of Celebrity Endorsements.” NOLEGEIN-Journal of Global Marketing (2019): 17-20.