Nike - SWOT Analysis
Nike is one of the leading brands in the whole world. The products of the Nike are popular for sports shoes. As Nike is popular for sports shoes so athletes prefer to purchase the shoes of this brand at priority. Nike understands the needs and requirements of the athletes or sports player so they manufacture their products according to these demands.
SWOT is the abbreviation of Strengths, Weaknesses, Opportunities, and Threats. The detailed SWOT Analysis of Nike is going to be discussing here.
Nike is popular for shoe brand because they are delivering their products with high quality. They don’t prefer to compromise on quality. In fact, they manufacture their shoes in a manner that will be comfortable to run and walk. They are manufacturing the shoes for all types of sports and due to this reason; it is the number brand of shoe marketer. Also, they are selling their product in more than 180 countries plus they are selling their products through the online platform as well as offline. They not only focus on the comfort level of the shoe but also emphasize on the innovative design of shoes and ultimately they have the wide range of shoe designs. Nike also has the ability to vastly facilitate its customers as they ensure the availability of stock.
No doubt that Nike is the number brand for shoe branding but it also has weaknesses. The main weakness of Nike is that it only focuses on shoes while other brands focus on all other necessities of life. Another point where they lack power is that they do business with retailers and retailers also display products of other organizations. So customers have the opportunity to select the item from the variety of products. Nike generates its profit through the high prices but at the same time, due to the high prices every one can’t purchase their products and they can’t reach most of the audience.
Nike is an international brand as its selling its products in most of the countries. Nike is getting more popularity through the online retailers. Nike products have the high value which is an opportunity for its brand to generate high profit. With the passage of time, Nike is also concentrating on other accessories like the sunglasses and the jewelry to get more popularization in the customers.
Nike has to face a lot of challenges in the market as a lot of competitors exist. To compete with the competitors Nike has to do adopt new and innovative tactics to be a leading brand. Also, consumers become more conscious about the price of the Nike products and retailers are also expecting more from this company. As Nike is an international brand so they have to sell their products in different currencies and due to the instability of currencies, sometimes Nike has to face loss to some extent.
Nike SWOT Analysis shows that the success and failure of each brand exist. No one can deny that the international brands not only have the victory path but the failure path too. A brand is a business and ups and downs are the main components of a business. The only thing is that business owners have to face and cope with every situation with patience and intelligence.