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Why Nike is so Popular
It almost impossible to keep up with fashion trends. If a brand is unable to stay relevant, then they suffer a risk of losing its market. Nike has embraced these key factors to make it a market dominator. In 1972, Nike was promoted to a foreign market. Nike some of the things Nike deals include jazzy, sportswear, footwear, most of the Nikes production are for sports reasons. When walking around you cannot fail to recognize one or two people wearing Nike, and there are ways in which Nike has managed to dominate the market over the years.
Having long-term deals with superstars. Nikes known to be associated with established athletes and celebrities. For instance Nike may create a new sneaker design with the popularity of the brand these shoes are likely to sell and make profit. By having long term commitments, Nike has been able to influence generations to wear and buying Nike products. A celebrity then develops trust with the brand creating a good working relationship with the company. Keeping celebrities in long term commitment requires good communication and trust.
Investing in their marketing has seen Nike be one of the most trusted brands. Through marketing, the brand start conversations among the possible clients, and they can give feedback about the product. With a lot of people identifying with it has become easy for their marketing strategies to spread quickly. With their quality products, Nike has die-hard fans who will buy any new product from Nike. Nike ensures that their products are produced and available to all their potential clients once the new designs are out. Another marketing strategy is producing products of all sizes, including children.
Acquisition of companies has helped Nike to expand drastically. In every field of business competition is always present. Nike, however, is known for buying out competing companies. Low competition for a large brand like Nike means more and more sales. The facilities and workforce of the bought companies are used to create more expansion of the brand. The more the companies bought out by Nike, the more their dominance in the market.
In conclusion, quality products have maintained Nike’s market dominance. When shopping every individual look for quality products. Despite the individual looks for a product that will serve efficiently. Nike is known for quality sportswear to footwear. The production of the good quality product should be consistent with being known all over by potential clients. With the rise in the number of counterfeit companies Nike has been stood out.