Why is Nike so successful?
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Q:

Why is Nike so successful?

A:

Quick Answer

Nike is successful because of its marketing strategy, brand recognition and research into changing consumer demands. Nike has continued to grow by targeting both male and female athletic wear consumers and expanding product offerings into every available market.

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Full Answer

Nike has used a strategy of brand recognition for many years. The slogan "Just Do It" has been in use since the mid-1980s. This slogan in concert with the Nike Swoosh logo have helped to create an easily recognizable product.

Nike has also made effective use of sports sponsorships. Nike sponsors a multitude of sports associations including the NFL and NBA, as well as colleges and events such as the Olympics. The company has also employed some of the biggest sports stars since the 1980s. Michael Jordan was one of the company's earliest and most popular spokespersons. Jordan was so popular that he continues to have a line of clothing and shoes with Nike years after his retirement as a professional basketball player.

Finally, Nike makes use of all available markets to increase their revenue margin. One large outlet for Nike internationally has been its emergence, market share and investment in the Chinese economy. It has also continued to expand its offerings to become more appealing to female athletes.

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    What does Nike stand for?

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    The company name "Nike" is not actually an acronym, but is instead named after the goddess of victory in Greek mythology. The company was founded in 1964, and it was originally called Blue Ribbon Sports, but they changed their name to Nike, incorporated in 1971.

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    How do you get sponsored by Nike?

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    According to the shoe giant's official website, the only way to get sponsored by Nike is if the company contacts you directly. Nike claims they "proactively seeks athletes to endorse the brand. Unsolicited Nike sponsorship requests are not accepted."

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    Why is Nike called Nike?

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    The Nike Company name has its origins in Greek mythology and is named for Nike, the Greek goddess of victory. The goddess Nike is also known for her traits of swift running and flying. Nike company founders first used the name for the company's first manufactured running shoe.

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    How much money does Nike make?

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    In the 2014 fiscal year, Nike generated approximately $27.79 billion in revenue and a gross income of $12.44 billion. In the second fiscal quarter of 2015 alone, Nike generated revenues of approximately $7.4 billion with a gross profit margin of 45.1 percent.

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