One of the world’s biggest apparel and athletic shoes manufacturer, Nike is an American corporation that involves supplying the world with their footwear, accessories, and equipment.
Originally founded as Blue Ribbon Sports, the company took the name Nike from the Greek goddess of victory.
Since then, Nike became a champion brand builder and its slogan “Just Do It” evolved into a more meaningful concept than a simple advertising phrase.
Surprisingly, the interest in Nike’s marketing strategy only started to arise after the brand hit the $1 billion revenue mark.
Simply, because Nike couldn’t understand the importance of marketing. Today, using sponsorship agreements and teaming up with celebrities and professional teams, is the primary source for Nike to promote its product.
Nike Marketing Strategy: Learn From the Best
Sponsorship – Nike pays many sports athletes to promote and sell their product. This is one of the most effective marketing strategies to use because promoting products via respective and authority public figures motivate fans to mimic their idols, which dramatically increases sales.
For example, signing a sponsorship deal with the basketball star Michael Jordan in 1984, proved being one of the biggest enhancement in Nike’s publicity.
Innovation – Innovation is the core of Nike’s marketing strategy because, in order to be the leading athletic brand, Nike has to deliver innovative products that instantly catches the consumer’s attention.
Nike understands that the world is constantly changing and new demands are arising, so constantly being dynamic and focusing on being close the existing market, is the first priority for Nike.
Selling Benefits, not the Product – This is a rarity, but highly professional way to sell your product. As mentioned below, Nike never intends to sell their stuff via commercials, because they always concentrate on the benefits they bring, or how can it help you improve.
This way, the authority of Nike skyrockets and they become more trusted, reliable and a caring brand.
Pricing Strategy – Nike is well-known for its pricing strategy. In addition to offering the highest quality product to the world, Nike tries to regulate their prices, according to the consumer groups.
For instance, sports shoes for kids are cheaper than women’s and man’s (if Lebron 11 for men costs 300$ than for boys it’ll cost 200$).
Considering Nike’s mission to inspire every athlete in the world, adjusting customer preferences and pricing is essential for them to fulfill their goals.
Advertising – Not too far ago, Nike celebrated its 25th anniversary of the “Just Do It” advertising campaign, which is considered as one of the most successful ad series.
The first time when the world hear the phrase was in 1988 since then Nike’s marketing strategy was evolving, that finally resulted in crafting a perfection.
In order to clearly see the caliber of Nike’s advertising, let’s watch three of their most successful commercials.
Nike Move – The Nike “Move” commercial directed for Wieden + Kennedy (W+K), that features series of everyday and famous athletes in a diversity of sport pursuits, won an Emmy for being the best ad of 2002. The way the athletes behave and interact is a wonderful thing to see.
Nike Y2K – The Year 2000 Problem, commonly known as a millennium bug, or the Y2K was a digital and non-digital problem for computer programs that could only handle 20th-century dates (starting with 19).
That was precisely what bred the idea to create a satirical commercial that could portray a possible January 1, 2000, a morning of a runner. As the Nike “Move,” Nike “Y2K” also won an Emmy.
Find Your Greatness – This is a fantastic, creative and optimistic campaign. Every part of the ad looks differently at greatness from a non-identical, non-repetitive and an artistic angle. And the best part of the commercial is that it never talks about the product.
“Find Your Greatness’s” aim is to motivate everyone in their own unique way and to explain that greatness is not only being a championship athlete or a record breaker.
Realizing and achieving personal goals is what best defines greatness.