Nike was founded in 1964 by a track coach named Bill Bower man and track runner Phil knight. They started with the name blue ribbon sports, and went public in 1980 with their new name NIKE, which came from the mythological winged goddess of victory. Their motto is that if you have a body, you are an athlete, and this company makes sure to provide as each athlete with the equipment they need to thrive. While this company has proven itself to be very popular all over the world it has its weakness and threats along with their opportunities and strengths.
Strengths
One of the greatest things about the NIKE Company is that everyone knows it. You can go anywhere in the world with the Nike symbol and most people would recognize the brand. Which goes to show their hard work in the advertising department? Strength about this company is that they are great at expanding their product. The company that started out making just sneakers now makes things from sports equipment to apparel. Nike defiantly knows how to expand well into the athletic market. This company also has strong international presence and sales their product worldwide. They always have the hottest celebrity athletes promoting their product. Right now they even have Lebron James and before they had Michael Jordan.
Weaknesses
One huge weakness with the NIKE Company is that they fail to see problems in relation to their labor and factory conditions. For example, in 1996 Nike was exposed for child labor in Pakistan. This led to lots of bad publicity which hurt the company in sales. Many people began to boycott their product. Another issue this company has is that it has such a high price point compared to its competitors, which means that they must then rely more on the quality of the product, but also rules out many customers because of this. Another problem is their expanding into different markets. Some of these markets are not so suited for the company since they started off with sneakers and try making footballs and such. This expands production cost and may be more trouble than it is worth.
Opportunities
One great opportunity for the NIKE Company is to promote their brand as fashion forward as well as athletic wear. This is something that NIKE as a company has been deterring from so that they may be taken seriously in the athletic field. However there are more consumers who see Nike this way and wear their sneakers for that purpose instead of just athletic wear. NIKE should come out with jewelry and sunglasses to expand their brand into a more fashion forward brand.
Threats
Some threats that the Nike Company may have are their competitive brands. Since NIKE is about the highest priced athletic brand that puts them at risk for losing many of their customers. Another threat to the Nike Company can be the international trade and different currencies being used. This could ultimately mean a loss of profit when it comes to dealing with different types of currency.