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2021 btec business level 3 unit 1 exploring business distinction assignment 2
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BTEC
PEARSON (PEARSON)
Business 2016 NQF
Unit 1 - Exploring Business
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2021 BTEC Business Level 3:
Unit 1 - Exploring Business
(DISTINCTION*) Assignment
2
Nike SWOT analysis1
Strengths
Nike is able to stand out among the crowded sportswear retailing
marketplace because the competition is fragmented and not
focused like Nike; Nike focuses on its audience, messaging, and
product lines. 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
and also continues to inspire consumers. 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. The strong branding and recognized logo represents
Nike’s strong environment.
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.
The company is highly profitable due to its strategy of importing
, their material from different countries to keep manufacturing
costs as low as possible whilst focusing on design, research, and
development in the U.S. to create the most efficient labor cost
structure possible. Apart from this, the other big strength of Nike
is that it is a globally recognized brand that has top of the mind
recall consumers and the youth in particular. Furthermore, 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 participates in
any physical activity. Nike has a significant amount
of brand equity in terms of recognition and appeal
around the world tied to its status among celebrities
and sports professionals. It’s ongoing sponsorship of
events also has built brand recognition for the company, including
being known for quality, performance, reliability and innovative
style. Finally, Nike stands to benefit from the current disarray
among their competitors because of the fragmentation of the
market where Nike with its USP or Unique Selling Proposition can
standalone among them.
The main strengths of the business are, it’s outstanding design
and good marketing techniques which help them attract
customers and therefore result in an increase in revenue and
profit. Nike have been able to respond to their strengths by
producing their goods to their best quality and are able to
develop new inventions sure as the self-lacing shoe, making Nike
brand look unique. In the future, in order to maintain their
strengths Nike should continue investing in new ideas and should
be able to develop new eye opening goods or services; this would
interest their audience and would help Nike to maintain their
strengths and brand awareness. Doing this would also attract new
customers leading to a higher purchase volume and revenue.
Receiving a higher revenue means Nike will have a higher profit,
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