What Makes Nike Different from its Competitors

What makes Nike different from its competitors? Competition in the athletic wear industry has increased a lot. However, Nike has got an edge over its competitors owing to several factors. Unique designs, great product quality, product and process innovation, and marketing have helped it achieve a strong competitive edge. What makes Nike unique? Core associations for Nike include: innovative technology, high quality/stylish products, joy and celebration of sports, maximum performance, self-empowerment and inspiring, locally and regionally involved, and globally responsible. How is Nike different? Not only does Nike have a variety of options of products, but Nike also owns Hurley, Converse, and Jordan brands. By offering more products to more people, in more markets than any other sports company, they are able to capture a far greater market share of the market than any other company. Why is Nike better than other brands? Nike is the best sports company because they have great technology and equipment to boost performance. In basketball shoes, Nike provides cushion and lightweight materials to accommodate the sport. Also, Nike attracts customers by placing athletes in their commercials. What is Nike best known for? Nike Inc. is a famous footwear, apparel, and athletic brand most famous for its simple but very recognized logo and for its slogan ‘Just Do It’. Nike began as Blue Ribbon Sports in 1964, founded by Phil Knight and Bill Bowerman. Why is Nike a great brand? Nike is good at lots of things: manufacturing high quality and good-looking shoes; designing fashion or professional apparels; sponsoring lots of sports teams; and making tons of money. There is no company doing branding like Nike. Nike dominates the sports gear industry because of their brilliant branding strategies. How much does Nike make a year? In 2020, Nike’s global revenue amounted to about 37.4 billion U.S. dollars. Strength The biggest strength of Nike is that it is an extremely competitive organization with its approach of “Just Do It” slogan for its brand epitomizing its attitude towards business. The company was founded on the principle that it would make shoes for anyone who could walk or run and this has been the guiding philosophy behind Nike. Coupled with its iconic “Swoosh” logo and its equally catchy tagline, Nike’s strength is that it has emerged as a “Can Do” company. –– Strong core brand Strength of the company is that it has outsourced all aspects of its production to overseas facilities and thereby, does not have any manufacturing outlet of its own. This has helped the company focus on higher value adding activities like design and research and development and at the same time, it has saved the high labor costs that are part of the traditional manufacturing sector. –– Low product cost As many of Nike’s products are manufactured in developing South East Asian countries such as Indonesia and Thailand, Nike has extremely low labor costs. What’s more, Nike also uses relatively inexpensive materials for many of its shoes. Together, these two factors — labor cost and material cost — allow Nike to manufacture its footwear for extremely low prices. –– Low product cost Apart from this, the other big strength of Nike is that it is a globally recognized brand that has top of the mind recall among consumers and the youth in particular. Further, the Nike brand is synonymous with quality and resilience as well as endurance and fitness, which makes it the brand of choice for athletes and anyone who wishes to run. Finally, Nike stands to benefit from the current disarray among its competitors because of the fragmentation of the market wherein Nike with its USP or Unique Selling Proposition can standalone among them. Diverse Brand Portfolio Although the Nike brand itself is incredibly strong, the company has a diverse brand portfolio beyond that. Most notably, this brand portfolio includes Converse as well as dozens of other Nike-centric sub-brands such as Nike Shox, Nike Blazers, and Nike Tiempo. This suggests that Nike has its foundations well spread across the footwear industry, allowing it to painlessly weather changes in preference.