Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 48 , 01 December 2023
Open
Access | Article
Analysis of Nike’s Brand Marketing Strategy
* Author to whom correspondence should be addressed.
Abstract
Marketing can be very profitable for a company and the success of well-known companies is often accompanied by a successful marketing strategy. Bill Bowerman and Phil Knight founded the largest sportswear firm in the world, Nike, under the name Blue Ribbon Sports in 1964. The company changed its name to Nike in 1971, and as the industry leader, it ascended to become one of the top sports brands in the world, with revenues far exceeding those of its competitors and a market share of 38.23% of the entire industry, and is widely recognised in the sports industry for its strong marketing capabilities. It has positioned itself as an active brand with people's aspirations, comfort and national values in mind and has achieved great success worldwide. In this paper, authors will use Nike as case study and conduct an in-depth analysis of the marketing strategies used by Nike personalised customization, content marketing, social media, and hungry marketing. Combined with a comprehensive analysis of relevant literature and market data, consumer demand for unique, bespoke, personalised experiences can be met by personalisation, increasing customer loyalty and generating more business for the company. Content marketing builds consumer awareness and loyalty through the creation of engaging content and effectively communicates brand image and values. The rise of social media has provided consumers with an avenue to identify product needs and reference the buying behaviour of others, while helping to build brand awareness and positive emotional communication. Hunger marketing creates higher brand value and consumer demand through scarcity and limited sales strategies, further enhancing Nike’s uniqueness and price premium. The author also uses the current emerging sports brands lululemon and lining as references and uses the successful development strategies of these two brands to provide effective marketing suggestions for Nike.
Keywords
Nike, marketing strategies, brand image, hunger marketing
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-143-8
- ISBN (Online)
- 978-1-83558-144-5
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/48/20230410
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited