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Nikes Swot Analysis
Nikes Swot Analysis
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Introduction
Nike which began just as an importer of Japanese shoes has grown to the largest marketer of athletic shoes in the world where has a market share of about 37%. The company’s products are sold in more than 160 countries around the world with the shoes being manufactured by contractors who are independent while the company is involved in marketing, design, and development. While the company specializes in athletic footwear it also sells other footwear under All-Star, Converse and Jack Purcell brands, they also specialize in athletic equipment among them snowboarding, surfing and skateboarding footwear and apparel (“NIKE, Inc. – Company Profile, Information, Business Description, History, Background Information on NIKE, Inc.”, 2015). The discussion below will shed light on the strengths, weaknesses, opportunities, and threats the company faces and utilizes them while converting the weaknesses to strengths and threats to opportunities.
Strengths
According to Gurel 2017, the company have various strengths among them, Nike is a brand that is recognized globally for its footwear, because of its high-quality products the company have a very strong reputation and is a very competitive one. Additionally, Nike uses independent contractors hence it’s a lean organization, the employers under the company are more than 30,000 and it belongs among the Fortune 500 companies. Nike is also known for its innovative marketing where it uses top athletes example, Cristiano Ronaldo and Eliud Kipchoge, and it have a very strong team in development and research which is evident in the innovative and evolving range of products. Additionally, while the company does not compromise on quality the products are affordable and it has been to change the production places in the event the cost of production leads to increased prices.
Weaknesses
While the company’s success is widely known it also has various defects. The company is prone to vulnerability in the event its market share is affected this is because while the company specializes in a range of sports products most of the income relied on the business is dependent on the share from the footwear market. The company has about 20,000 retail outlets in the United States, these retail stores are usually sensitive to prices and in most cases offer consumers cheaper alternative products, this, in turn, passes the pressure of lower prices to the company. Unfortunately, the company reputation took a toil when it was reported of using child labor in soccer balls production in Cambodia and Pakistan, there were many criticisms by anti-globalization groups. Also, overseas, the company have been said to exploit cheap labor and have the poor working condition regarding 1996 in Vietnam when it was charged with violating both the minimum wage and overtime (Gurel 2017).
They are various ways the company has changed the weaknesses to strengths, the company while experiencing competition in the retail sector the quality of its products is still superior and in the exploitation charges, the company pledged to remove the underage workers and improve the working conditions which restored their reputation. Lastly, to ensure there is no waiver in the market share of its footwear it has developed innovative and evolving designs of high quality that have been recognized by the sports boards.
Opportunities
The company despite its stand in athletics footwear there are various avenues that it is yet to exploit. According to Gurel 2017, while the brand itself is not a fashion one some of its consumers are not engaged in sports and are among the youth culture who recognize it as a brand and just like in every market trend they tend to replace some footwear that has not worn out with the upcoming trend. The company also have the opportunities t not only specialize in sports products but diversify to jewelry and sunglasses which are usually associated with high returns, the company also places effort in the corporate marketing through sponsorship agreements and promoting of corporate brands. Additionally, while the product is recognized globally it can also build on its recognition internationally by immersing in markets whose consumers have a high disposable income example, India and China.
Threats
Unfortunately, with global recognition and the company’s success, it has also associated with various threats. Since the brand is globally recognized the different exchange rates across different states expose the margins of the company to instability which could result in losses. The sensitivity of the prices in the retail outlets leaves the consumers with preferring to purchase cheaper products and the market of sports garments is very competitive with other brands joining the market. Recently, there has been an uproar with a need for shifting to eco-friendly products, this poses a challenge for the textile industry that produces the sports garments (Gurel 2017).
However, the company has been able to shift these threats to opportunities, while it is not inevitable to the different exchange rates it has ensured that the market base in those countries continues to increase hence, increasing the returns. In regards to eco-friendly products, the recent products are being made of recycled waste and produced with renewable energy while its high-quality products give it a fighting chance in the price competition. Lastly, Nike has used all the above factors to ensure that it remains competitive with the upcoming brands, this is by using the weaknesses and converting them to strengths while exploring other areas for better opportunities.
Conclusion
Nike continued success in a world with more upcoming brands can be attributed to its innovative and better designs for its products which while are affordable there has been no quality compromise. Every company’s success including Nikes must be reliant on ensuring that both the internal and external factors are analyzed and reformed to maximize the returns.
References
GÜREL, E. (2017). SWOT ANALYSIS: A THEORETICAL REVIEW. Journal Of International Social Research, 10(51), 994-1006. https://doi.org/10.17719/jisr.2017.1832NIKE, Inc. – Company Profile, Information, Business Description, History, Background Information on NIKE, Inc.. Referenceforbusiness.com. (2015). Retrieved 1 April 2020, from https://www.referenceforbusiness.com/history2/99/NIKE-Inc.html.
RHETORIC EASSY ON ADVERTISEMENTS
RHETORIC EASSY ON ADVERTISEMENTS
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RHETORIC EASSY ON ADVERTISEMENTS
Advertisements is a way of communication from companies to customers on goods and services in the market. The adverts are either texts or images that tell about the product on sale, location and sometimes price and discount depending on the product. Lately advertisements have become one of the most powerful and effective tools companies are using to launch and brand products. Advertisements are mostly the cause of purchase of product as they have much effect on the person who sees them. Advertisements are found in various Medias and forms and vary from company to company and product to product. The images used in advertisements can be analyzed to get their meaning and the authors’ intention behind the image using visual rhetoric analysis.
Option 3 is an image of two burgers which are referred to as ‘Burger king’ with a message of “Seems more like a medium”. The burgers are in two different sizes, a big size and a small size burger, with the big one on the left and small on the right. They are also strategically position at the center of the advert to create more attention. The big burger also appears to have more content in its layers as compared to the small one. It is also clear that the camera is zoomed on the big burger more than the small one. This is a way to attract the attention of the buyers to consider the big burger more than the small one despite of the fact that is a bit costly than the small one. The colors used on the image show the contents of the burgers and the layers each burger has. This is to give the customer the liberty to choose depending on taste and preference.
The image is meant to attract buyers not only to buy the burgers from any store but specifically from Burger King as there is a log of the store on the left bottom part of the advert to show where the product can be found. The text beside the small burger ‘BIG MAC? SEEMS MORE LIKE A MEDIUM’ tries to convince the buyers that as much as the burger is considered as the small burger, in their store it’s not actually small but almost a medium size as compared to other small ones. The bold, uppercase letters with white color ensures that people are able to read the message clearly and be convinced as the white color show sincerity.
The colors used on the advert have a good shade to show the different parts of the product and the text which explains the product. The dark shade used as background makes the product more visible and appealing to the buyers and controls their focus on the product and not what is in the background. The vocabulary used to send the message is simple and direct to be understood by all buyers. The language used is a commons language spoken by most people hence the advert is able to convey the message to most people. The advert tends to target both the old and young people as it’s a consumable product that anyone can consume.
The author illustrates clearly that it’s only in Burger King were such burgers can be found with the looks, sizes and quality using the image. The text on about the small burger saying that it’s more of medium sways the buyers’ emotions to going for the burgers at the store which offers larger sizes than the others. As much as the advert has all that is required to convince the buyers, the size of the advert may not be effective as not all buyer see the small advert. Also most buyer prefer advert with prices for the product for budgeting purpose.
The Business and the Environment
The Business and the Environment
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The Business and the Environment
The environment is defined as both biological and physical factors together with their chemical interactions which interfere with an organism whereby pollution is important. A business is required legally and ethically to take good care of the environment. An example of a legal responsibility is that all businesses are prohibited from emitting harmful wastes into the environment. This act is meant to protect the environment against the exposure to such harmful wastes that would interfere with the normal biological cycle. Another legal responsibility is that businesses that venture into agricultural practices are prohibited from using excessive chemicals into the soil that will kill the living organisms found in the soil. In terms of ethical issues, businesses are morally obliged to increase awareness of the importance of taking care of the environment and ways through which this can be done. In addition, ethically speaking that is, business organize tree planting campaigns to increase the area of land covered by trees. Trees are very important aspects of the environment as they prevent soil erosion, get rid of carbon (iv) oxide from the atmosphere and attract rain just to mention a few.
Environmental legislation is important in the governance of a state. Both industry groups and governments have an important role to play in imposing laws that sensitize the public on the impacts of the activities of the industry. In Australia, there has been enactment of energy efficiency opportunity programs. (Australia, 2013) this program requires that those indusstries that use large amounts of energy should make it a busines policy to identify, evaluate and then publicly report about the various options that exist that can be used to save energy. The program has benn made mandatory to those businesses that use at least 0.5 petajoules of energy per annum. Small business are nonetheless required to participate too
Firms should invest money in sustainability efforts. Sustainability is vital as it ensure that we presently have and will in the future still have a good environment, human health, water, and other resources that are important in enhancing survival of the human race. The environmental, social and economic consequences due to rapid growth of the population and uncontrolled consumption of the publicly owned natural resources has brought about the issue of sustainability. Firms should therefore take it upon themselves to make an initiative to progress sustainability efforts. The stakeholders involved are the staff members of a firm, the shareholders also known as the owners of the firm, the customers and the general public both directly or indirectly affected by the activitioes of the firm.
References:
Baron, D. P. (2003). Business and its Environment (p. 2). Englewood Cliffs, NJ: Prentice Hall.
Kaplan, R. S., & Norton, D. P. (2001). The strategy-focused organization: How balanced scorecard companies thrive in the new business environment (pp. 32-37). Harvard Business school press.
Fries, S., Lysenko, T., & Polanec, S. (2003). The 2002 business environment and enterprise performance survey: results from a survey of 6,100 firms (No. 84).