Nike's History, 8 P's, and Why.docx

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Running head: NIKE’S HISTORY, THEIR 8 P’S, AND WHY Philip Gommesen BUSI 520 Nike’s History, Their 8 P’s, and Why Liberty University January 29, 2017
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NIKE’S HISTORY, THEIR 8 P’S, AND WHY 2 Nike’s History, Their 8 P’s, and Why Nike is one of the largest manufacturer and distributor of athletic gear in the world, of course it took them a little while to get there. From a vision of bringing low cost shoes to the masses to a multibillion dollar enterprise that has one of the strongest marketing presences of any household name Nike is a model that other companies should at least strive to imitate a little bit. Although they have had a great deal of success it is always important to see what can be learned from history and to drive innovation in the future. Nike’s marketing has driven innovation in the past, is currently driving the present, and appears to be able to continue that drive well into the future. History Phil Knight started Nike in 1964 because he wanted to provide athletic shoes with purpose. No one would fund him so he started his business by importing sports shoes from Japan. When marketing them to an old coach, Bill Bowerman, he found a partner, and soon after they began a partnership (The Swoosh, 2016). The Nike brand became more popular in 1971 when they launched a lighter weight, revolutionary designed, shoe, and gained the support of Steve Prefontaine. Steve had been a very successful college athlete and at the 1972 Olympic Trials he wowed the crowd (The Swoosh, 2016), and Nike would ride his success as well as that of many other endorsements through the years. In 1979 they launched their Nike Air technology, setting themselves up as a competitive shoe manufacturer, and followed the next year with an initial public offering (Nike, n.d.). Within 2 years they became the number one supplier of athletic shoes in the United States (Nike, n.d.). They continued to grow into the 1980’s, and continued signing the biggest names in sports for multiyear contracts to promote their products. They also started diversifying, by designing and producing a wider range of fitness accessories and clothing. They even expanded their sports sponsor contracts internationally, thereby expanding the sphere of their influence around the
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NIKE’S HISTORY, THEIR 8 P’S, AND WHY 3 globe. Nike has grown into a company that is one of the biggest household names, and now supports a vast range of sports with their athletic equipment and accessories.
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