It almost impossible to keep up with fashion trends. When in the fashion industry, staying on trend and relevant is key. Nike has also ensured that there are a variety of products for all ages in the market. The promotion happened after the United States Olympics trials in Canada. 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.
To begin with, Nike has used celebrity endorsements to remain relevant in the market. Nike takes this to their advantage to sell their products to the fan thorough their esteemed athlete, a new creation and design is created with relevance to the celebrate or athlete. Nike maximizes the sale by naming the shoe line to a certain celebrity, thus capturing all their fans. Long term commitments have more impact than short term commitments. 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.
Nike has managed to stay popular through excellent marketing campaigns. Marketing creates awareness of any rebranding done on a product to the market. Nike has influenced a large population using its slogan the ‘ do it.’ 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. Children like to identify with the celebrities they love.
Thirdly Nike has dominated the market by buying out other competitor companies. It is very hard to be a monopoly in the international market. Nike, however, is known for buying out competing companies. BY buying out competing companies Nike has reduced competition. The market which had been dominated by the bought companies are incorporated with others owned by Nike around the world. The more the companies bought out by Nike, the more their dominance in the market.
Durable products have played a major role in the brand Nike. If the goods produced by a company are of good quality then they are likely to last long. With this knowledge, Nike has managed to get customers to have faith in them. Nike is known for quality sportswear to footwear. Despite the price of the Nike product, customers still buy knowing there is a low possibility of untimely replacement. Nike relevance has also been boosted by its unique ideology as designs over the years.