Nike transformed itself from a standard retailer to something much bigger.
There is no secret that Nike is one of the most famous brands that have a huge contribution to athletes and sports sectors.
The company is all about serving the inspiration and providing the products for encouraging potential.
Also, they focus on re-defining the meaning of being athletic and as they say, everyone who owns a body has an athlete in them.
The idea and typical image of the word athletic, where people are professionals and engage in sports.
Well, the company is one of the major in sponsorship and provider of apparel to highly trained athletics. But they didn’t limit it there, to change the definition and changing the idea, they encouraged everyone to become a true athlete.
With their mission statement, values, visions, and understanding, the company inspired lots of people, no matter if they are professional or beginners.
What To Know About Nike And Their Core Values
The company was founded by Phil Knight and Bill Bowerman on 25 January 1964 in Eugene, Oregon, United States.
The iconic logo of Nike that looks like ‘ Swoosh’ was created by Carolyn Davidson who was a digital graphics student in 1971.
The symbol was indicated to the winged goddess of victory that is in greek mythology also called Nike.
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Nike inc is famous for offering the footwear, athletic brand, and apparel for the sportsperson or anyone who likes sports.
However the company rebranded themselves and known with the name they are famous. But they kept their vision clear which was to offer the best.
Their goal of leading the manufacturing products for bringing the best out of athletes made the company achieve the position they have now.
The company manufactures ultimately what exactly the athletes need for competing at the top levels. With their vision and mission statement, the company stayed honest with their work.
Core Values Of Nike
Nike has important core values that include being innovative, inspirational to every athlete on this planet. Also to stay the most connected, authentic as well as a distinctive brand.
The core values hold what is most important to them and become the best ones in their fields.
Nike values their strategy teams who focus on primary parts like environment, community, vision, strategy, culture, and many more to keep the company in line.
According To CEO and President Of Nick, John Donohoe, sports have the capacity that can transform communities and lives.
He added that the power of sports can bring people for changing the world and to make it a better place.
The company contributes to helping as well as bringing the idea to reality.
Mission Statement Of Nike
The mission statement of Nike is to bring inspiration and innovations for every kind of athlete in this world.
According to the company motto “. if you have a body, you are an athlete “. The statement focuses on Nike’s influence and its contribution to the sports sector.
The company has the mission of turning the ability of the athletics and stimulating their confidence to build the best version of themselves.
From new to the Profesional, anyone who wants to start the sports or enhance what excites them most, Nike shares the mission to bring the best from it.
Also, their mission statement has important components that include –
Inspiring The People
To fulfill this, the company has always been at the forefront.
They came up with new innovations, technologies, and ideas to motivate the people and help by offering effective yet comfortable apparel and gears.
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Additionally, they understand the looking of part importance and they boost the desire to excel.
The company has a wide range of sportswear that gives an exact impression of what they are selling.
Presence On Global Level
With this, the brand shows that they have a presence on international platforms as well. To meet the component, Nike has a diversification of its products and targeting athletes across the globe.
For example, Nike has signature initiatives that bring different states growing in different states across the world.
Inventions & Innovations
One of the reasons that made Nike top on their games, they narrowed down their unrelenting clamor for bringing up the versatility in the aesthetical appeals.
Also, it makes the product more dependable and people rely on, even the professionals.
The company has one of the most creative minds in the team and experts that launch different innovations along with the products.
Image source: Nikenews
Also Nike also known as the house of innovations where they came up with different innovations to support the sports and atheistic.
11 Maxims Of Nike
In addition to their mission statement, they developed the guiding principles which are also referred to as “ 11 Maxims”.
With the principles, the company has the guidance of where they want themselves to see and to guide throughout the different levels.
1. It The Nature To Innovate
Nike takes its innovation seriously, and they will see it as one of the core organizational competencies.
2. They Are The Company
Nike is a company responsible for quality and contribution to the sports sectors. Along with that, they innovate to bring and encourage people for enhancing what makes them feel excited.
3. They Are The Brand
Nike is a brand and the swoosh logo is instantly recognizable by anyone. Nike considers its logo as the leadership symbol on a global level.
They will enter the market only where they can dominate.
The company has the ideology that says if you can’t lead, then you don’t need either.
4. Simplifying And Go
Nike offers products that don’t have a long life span, it includes their technology as well as fashion.
The company believes that they should make quick but keeping it skillful. The motive behind their decisions is key for their success.
5. Consumers Will Decide
The company is well aware of the customers they serve. To make sure that they are offering the quality that matches their customer’s sophistication.
Also, they treat them the same as a key stakeholder.
6. Be Like Sponge
Nike encourages its employees to be like a sponge, which means staying curious and open to different ideas.
Also to keep their mind and creative level open instead of thinking inside the box.
7. Evolve Fast And Immediately
Nike considers itself a perpetual motion viewing change. And it’s a key for their innovations.
With this attitude, it makes more sense how the company has a wide range of their products. They use their emergent strategy for effective good.
8. Do What’s Right
The company believes in doing what is the right thing to do. Being a responsible global citizen, they embrace their stakeholder for viewing their corporate social responsibility.
They encourage people to stay honest as well as be transparent in promoting their suitability and diversity.
9. Mastering The Fundamentals
According to Nike, if the innovations are not in action, it’s useless in the end. The part of the success behind Nike is they have an understanding of refining the performance.
Also, this helps in boosting profit and achieving more.
10. Be On The Offence, Always
Nike says that to stay ahead especially when the environment is competitive, it’s important to act like a leader.
The company urges people to be leaders in whatever field they are in and achieve victory.
11. Remember The Man
The co-founder of Nike, Late Bill Bowerman holds high esteem through the company and the brand itself.
The company focuses on fulfilling and keeping his understanding of proving the needs of the athletes as an innovative spirit.
Vision Statement Of Nike
Nike’s corporate vision is to remain the most connected, authentic, and distinctive brand.
The company keeps its vision statements applying to the global growth strategy. The company focuses on making its brand more approachable and authentic to the customers.
Well to understand this, they have the vision statement focused on doing everything that can help in boosting the potential of humans.
Precisely, the company does not limit itself on any kind of strategy for ensuring it offers the best to its customers.
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The picture portrayed by their statement is that the company won’t settle which is normal. Instead of that, they will go beyond and be dynamic.
On Top of that, Nike focused on being effective and innovative to worth the impacts.
Also, they have the following characteristics that relate to their vision statement.
Improvement In Lives
Nike is a people-oriented company, they target the positive impact that the brand can do. Also, the company connects with the audience to deliver quality and improving lives.
Also, they run their incorporative objectives for making society better along with the primary goals. They have a corporate social responsibility too which they never neglect.
For example, Nike is known for leading environmental conservation strategies all around the world.
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Not just that, they are vocal when it comes to focusing on other social targets. To achieve their mission, they make sure to bring the best from every individual they connect with.
Expanding The Potentials
The vision of Nike is to give the best quality and efficient footwear, apparel, and equipment to their primary customers.
This is what that company stayed honest with throughout the years. Since the company was founded and established, they focused on bringing and expanding human potential.
Also, they understand the diverse people have in their requirements, especially in a sportsperson.
With this, they make sure to stimulate creativity with their tailored products to fit each category.
Reasons Why Nike Is Successful?
Nike is a well established and worldwide recognizable brand in clothes and sports. Founded by Bill Bowerman and Phil Knight, The company was started with a $1200 investment in 1964.
In the starting days, The company was called Blue Ribbon Sports but as they progressed, it was renamed Nike Inc in 1971. The brand name is also a Greek goddess of triumph on which it was named after.
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However, how did the company not just survive the global market but thrive in it?
Nike become one of the biggest brands in its niche, also participated in various campaign and marketing to make the space for the brand
To understand what helped the brand to outshine, here are some listed reasons.
Developing Logo & Brand Based On Intensive Marketing
Nike has a reputation as it advances its products with sponsorship contracts to renowned people, school competitors, and proficient students.
The company sells the products by associating with the biggest players in the market. The first celebrity that endorsed the brand was llie Natase who was a Romanian tennis player.
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As for now, the company relies on email showcasing, sponsorship, web advertising, and uses various channels including social media for promotion.
Nike does much more intensive marketing to make sure their brand is always on-trend.
Some of the sponsorship that Nike had, including –
- Football – Peyton Manning, Eli Manning, Joe Flacco, and Drew Brees
- Golf – Tiger Woods
- Basketball– Michael Jordan, Lebron James, and Kobe Bryant
- Soccer – Cristiano Ronaldo and Ronaldinho
- Tennis– Serena Williams and Roger Federer
- Baseball– Joe Mauer and Albert Pujols
Emphasize On Enthusiastic Benefits In Selling
Nike offers a standard in living a life. Taking advantage of the part of people’s lives where they need more advantage of giving more value to their own self.
The Co-Founder of Nike, Bill Bowerman offered their shoes not based on the techniques. Instead of that, he linked the shoes to running and living an adventurous life.
He linked the brand with the standard of healthy living. The products of Nike are based on sportsmanship and the enthusiastic benefits of it.
Adding New Technologies For The Promotional
Nike created a promotional strategy by adding new technologies to their products. They built an assortment of new inventions and related that with their brand image.
Also, technology is not just for encouraging people to live a healthy and active life. But with that, it makes their life much easier.
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For example, Nike launched shoes that get automatically tied up the laces. The person needs to put their leg in shoes and the function will automatically start. The technology is called HyperAdapt 1.0.
For creating this technology, Nike worked for 10 years and launched the product which worked in their favor.
Varying Sports To Daily Needs Items
Nike offers a wide range that covers every kind of sport. From selling sports gear and attire, The company also offers general attire, gloves, handbags, shades, wallets, etc.
Well in sports, they have a variety of options as they offer gears and attires based on Cricket, football, ice hockey, baseball, Olympics-style events, and many more.
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The brand covers sports equipment to personal required items for the customers. Not just the items help the company to gather more audience as compared to any other game organization.
With this, they can always get prominent pieces of the entire market as compared to other competitors.
Emphasizing The Quality For Enhancing Performance
Nike created their brand based on the reputation that offers quality products. Not just that, they offer products that can help athletes to make their performance better.
The gears and equipment are made to offer the significance of the items. Also, the company’s image is related to the products they offer as they all are first-rate.
Nike focuses on improving performance and encourages people to live what they feel energetic about.
It can be run to playing any kind of sports, Nike successfully built trust because of which the company has big sports players and athletes using the products.
Better Excelling And Response
As compared to others, Nike has better excelling and responses.
For example, the business started its official site in 1999. As compared to the rival companies where Foot Locker came up with their websites in 2000 and Adidas launched their ones in 2006.
Nike launched the site 7 years before as compared to Adidas. Also, the company reflected the site in 2011 and had four times much better deals as compared to Adidas.
In using web-based social networking, Nike was one of the sports item organizations.
Also with technology like HyberAdapt 1.0, the company remained one step ahead of their competitor’s companies.
Connecting Emotions With The Brand
Nike learned the art of doing emotional branding. Not just, they have connected their brands with customers’ feelings but they push them to do better.
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The company has various enthusiastic marketing which encourages bravery from the audience. It means the shopper has to identify their own worth and capacity to discover their quality.
Also, they focus on beginners to professionals or even someone who is playing as a hobby.
The brand endeavors their motto in everyone that says “ Do what needs to be done”.
However, later on, the motto changed, and now it’s popular as “ Just Do It “.
Associated Themselves With Different Sports
Nike does not just associate with one sport, but they have different options. The brand uses this for promoting and using it as a strategy for success.
For example, it includes –
Nike came up with the shoes based on Michael Johnson who was an Olympic PLayer. It showcased their methods for boosting success all over the globe.
With the idea of showcasing different methods that serve the Olympics, Nike did a different kind of innovation. However, it was not specific when it comes to marketing.
NFL OR National Football League
In 2012, Nike built an agreement for a long time with the National Football League ( NFL).
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But in 2015, The company added three more years in the agreement with the NFL without a sale. Not just it worked as a useful tactic but also the company achieved success in its long run.
NBA OR National Basketball Association
In 2015, Adidas nulled their association for the pullovers and attires for NBA. But at the beginning of 2017 – 2018, Nike came up with an eight years contract where they offered the attires and pullovers to the National basketball association.