RECOMMENDATION Nike will achieve a constant increase in profits if they remain with growing trend worldwide. Nike will continue to grow annually by gaining consumers and having multi-million business deals with sports franchises and athletes. Since Nike holds the vast majority of brand share for the athletic apparel and footwear throughout the nation, they will continue to be on top
NIKE, INC. MARKET ANAYSIS 14 since no other brand is close to the 62% in brand share. Nike truly understands the business model which has helped them grow their business year after year. Nike really recognizes that in order to stay as a top brand worldwide, keeping up with trends and upcoming athletes will generate more revenue over time. With social media outlets, Nike should consider partnering up with upcoming athletes in high school because this generation is all about their phones, apps, and social media. This would be another way to gain more consumers in the younger generations. Nike continues to stay a head of the pack of its competitors year after year which their growing profits prove that they earned the top spot. Overseeing the annual profits and loss, the balance sheets, and even the income statements will allow Nike to make changes as they continue to succeed. Nike still has lot of markets, that it can reach. Given the surging demand for athletic wear throughout the United States, I would recommend that Nike advertising to the everyday working people who want to get back into shape. I think taking an interest in endorsements with women is a huge oversight and think they will see more revenue once they truly tap into doing endorsements for more women athletes. If the demand for athletic wear and footwear were to become more elastic as the years go by, then Nike may need to evaluate the pricing to prevent any type of deterioration in the annual revenue due to increasing prices.
NIKE, INC. MARKET ANAYSIS 15 REFERENCES 2019 Annual Report. (n.d.). Retrieved March 26, 2020, from Air Jordan I Designer Peter Moore Release 1985 Original Price $65. Retrieved April 21, 2020) Author(s) Unknown. Nike Inc Cost of Goods Sold (Annually). Retrieved April 26, 2020, from Author(s) Unknown. Nike Inc Total Operating Expenses (Annually). Retrieved April 26, 2020, from Author(s) Unknown. Nike Inc Worldwide Revenue). Retrieved April 26, 2020, from Cheng, A. (2018, December 21). Nike, Already World's Largest Sneaker Maker, Proves It's Still A Growth Company. Retrieved March 28, 2020, from - company/#20935a9c41f7 From Factory to Footwear. Inside the Nike Supply Chain. (April 18, 2018). Retrieved April 14, 2020, from Gould, Skye & Lutz, Ashley. (2015, May 22). See How Nike Dominates the Shoe Industry in one Chart. Retrieve April 1, 2020 from,
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