Pearson BTEC Level 3 Unit 1 Exploring Business. This is a detailed document where I explain the key reasons for Nike's success. A distinction* coursework with all websites links included and no plagiarism. High quality and well detailed. Contains valid pictures to make work look interesting. Well ...
Nike is good at a lot of things: manufacturing good quality shoes, supplying equipment and gear
for many professional and collegiate athletic teams and making a huge profit. But where the
company truly excels is its marketing. Nobody does branding quite like Nike. 1 Nike has a high
revenue and therefore it earns a high profit. Due to the high profit Nike has become a
successful business. The variety of products help customers find what they need and it is easier
for them to purchase which would increase Nike’s sales and revenue.
They also have a good technology system; a good technology system would interest the
customers as the business is innovating making shopping fun and easy. This would help Nike as
their purchase rate will increase as well as their revenue. Furthermore, the Nike brand has a
unique and interesting design which interests the audience making them want to buy the
products such as shoes. If Nike continues creating unique designs they will be able to attract
more customers which would benefit their business. As Nike is creating identity for itself it is
now collaborating with Apple which is also a highly profitable company therefore it means Nike
will be earning more than it used to which would increase their publicity and result in higher
revenue and profits due to higher purchases. Nike also collaborates with celebrities which help
them create awareness and increase their customer and purchase volume. Secondly, 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. Like most leaders
in the market, Nike values the consumer and the importance of providing a quality product
such as shoes, clothing and equipment.2
Nike is successful as it is a global market and therefore they receive worldwide profits of
£804.70 million allowing them to be successful as they are meeting their aims and objectives.
Also Nike has different varieties of products such as different designs of clothing, equipment
and shoes, so it can meet the customers taste and needs allowing them to adapt their products
and purchase it. The reason for Nike’s success is their unique and useful selling products such
as shoes, clothing and equipment like footballs and basketballs, which allows Nike to gain more
consumers as they are affordable and good quality which attracts consumers leading to higher
purchases which then leads to high revenue and profit. Moreover, Nike services allow
consumers to design their own shoes; this would interest people as they are able to develop
their own style and therefore this would persuades them into buying their designed goods;
leading them to be a successful business and this would also allow them in increasing premium
prices which would help them increase their revenue and increase their profits.
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