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Understanding the Business Model of NIKE

Name: Understanding the Business Model of NIKE
Uploaded: 2022-05-24T10:49:48.000+00:00
Description: In this video, I discuss the business model of Nike—how the company works and what you need to know to understand how the business works. I will also give you some tips on how to get the most out of Nike's business model.

In this video, I discuss the business model of Nike—how the company works and what you need to know to understand how the business works. I will also give you some tips on how to get the most out of Nike's business model.

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By Siddhant Kaushik Co-founder @ Tutorate India

Understanding the Business Model of NIKE

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By Siddhant Kaushik Co-founder @ Tutorate India

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Do you know? The world’s most popular and biggest sportswear company. In just over 50 years one man’s dream of better shoes turned into a global corporation worth over a hundred billion dollars. Hi, I am <speaker name> and in today’s video, we are going to decode the business model of Nike and also we are going to understand how they made people go all crazy for their single pair of shoes? So, let’s learn together. Come on:) Nike formerly Blue Ribbon Sports, is an American sportswear company headquartered in Beaverton, Oregon. It was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a track-and-field coach at the University of Oregon, and his former student Phil Knight. They opened their first retail outlet in 1966 and launched the Nike brand shoe in 1972. The company was renamed Nike, Inc., in 1978 and went public two years later. By the early 21st century, Nike had retail outlets and distributors in more than 170 countries, and its logo—a curved check mark called the “swoosh”—was recognized throughout the world. Nike’s success since its inception has been built on the company’s brand equity using a combination of innovation, athlete endorsements, and marketing campaigns. Consumers are willing to pay a premium because of the high perceived value of the brand. Because it generates the most revenue in its industry, Nike has the financial firepower to compete and endorse the top athletes in their respective fields, signing billion-dollar contracts with Cristiano Ronaldo and Lebron James. Nike designs develop, markets, and sells high-quality footwear, apparel, equipment, accessories, and services. Its athletic footwear products are designed primarily for specific athletic use, although a large percentage of the products are worn for casual or leisure purposes. It also markets products designed for kids, as well as for other athletic and recreational uses such as baseball, cricket, golf, lacrosse, outdoor activities, football, tennis, volleyball, walking, and wrestling. The company sells a line of performance equipment under the NIKE Brand name, including bags, socks, sports balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment, golf clubs, and other equipment designed for sports activities. That’s it for this video guys! I hope you very well understood how Nike influenced the market with its awesome products and amazing marketing strategies. So, before leaving please hit the LIKE button of all the videos of this season and I’ll meet you in the next fabulous series where we will encode business models of fintech! So meet me there, bye:)

Understanding the Business Model of NIKE

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