Key success factors are most significant to future success of industry firms. These factors encompass competencies, market achievements, resources, competitive capabilities and product attributes etc. It is most important for the strategists to be familiar with the surroundings of sector in order to distinguish the most important competitive success factors. The KSFs of Nike are given below:
Nike sponsors numerous high profile sports and athletes teams around the globe with the greatly recognized brand name of "Just Do It" and the Swoosh logo. Nike is successful due to its marketing strategy. It is positioned as an expensive product, premium-brand and selling well-designed. Nike’s marketing strategy is centered on a brand image which is accomplished by distinctive logo and the advertising slogan. It promotes products by sponsorship agreements with famous celebrity athletes, college athletic teams and professional teams. Nike’s marketing mix includes numerous elements in addition to promotion.
Extensive Research & Development
Nike understands consumer needs and uses R&D to design premium concert athletic products. Nike responds to consumer interest throughout the globe and continually appeals to changing demographics and new marketplaces in an intensely competitive industry. Nike stimulates demand through smart, efficient investments in people, R&D assets and a well-managed supply chain.
Production and Manufacturing Facilities
Nike contracts with manufacturers to produce and distribute products to their owned as well as partner retailers throughout the world. Nike is the world’s principal supplier of apparel and athletics and a main producer of sport equipment. It employed nearly 30,000 workforces globally. Most of the factories/plants are located in China, Taiwan, Indonesia, India, Vietnam, Pakistan, Thailand, Philippines, and Malaysia.
Extensive Distribution Facilities
In adding to manufacturing equipment and sportswear, it operates retail stores under the Nike name. Nike has contracted with nearly 700 outlets around the globe and has offices located in more than 45 countries outside the United States.
Wide Range of Relative Products
Nike is the world’s principal marketer, distributor and, designer of authentic athletic footwear, equipment, accessories and apparel for a broad variety of fitness and sports activities. Nike offers a variety of products, including apparel and shoes for sports activities. It manufactures an extensive variety of sports equipment. They presently also make jerseys, shorts, baselayers, shoes etc. for a wide assortment of sports including baseball, ice hockey, track and field, soccer, tennis, basketball, lacrosse and cricket.
Nike is placed to discover potential, demolish boundaries, and push out the edges by employing people who can think, grow and create. It is flourished in a culture that holds diversity and rewards thoughts. Nike’s people bring inspiration and innovation to business. Being a world’s major sports and Fitness firm, it also goes ahead of the game to work with cultures and communities around the world.
In product development and creation, Nike involves three stages i.e. creating new products, commercialization and selling them to consumers. This engages idea generation, construction, materials sourcing, product testing and confirmation. “Nike Air Max” is a lineup of shoes initially offered by Nike in 1987. The freshest lines are the Nike NYX, Nike SB, Nike 6.0 shoes, deliberated for skateboarding. It has newly offered cricket shoes, known as “Air Zoom Yorker”, designed to be 30 percent lighter than rivals. In 2008, it designed the “Air Jordan XX3”, a high-performance basketball shoe intended with the environment in mind. Numerous new shoes line contains Lunarlite and Fluwire Foam. These are equipment used to decrease the weight of numerous types of shoes.