January 10th, 2018
How Nike can Leverage Its Brand Image to Sell Sportswear Globally
The competitive nature of the business environment and saturation of traditional markets necessitates entities to leverage their strengths to expand into new markets. Large emerging markets such as China and India offer firms with opportunities for growth. Firstly, the high population and high economic growth rates in such markets offer entities opportunities to market their goods or services (Enderwick 7). Secondly, low costs of labor and raw materials offer firms the opportunity to lower their production costs by outsourcing or locating the production activities in such countries (Enderwick 7). Arising from the opportunity to lower the costs, firms that have expanded to such market can establish competitive pricing strategy thus remain competitive in market segments where the consumers are price sensitive. Thirdly, the large emerging markets have distinctive characteristics such as economic and social dynamism that could help firms in the industry learn thus enhance their capability to enter into similar markets globally (Enderwick 7-8). Accordingly, entities need to develop strategies for expanding to such markets to capture the opportunities offered by these markets and reduce over reliance on their traditional markets.
One of the entities that can benefit from a strong brand image to ensure its growth globally is Nike Inc. (henceforth herein “Nike”). This paper evaluates how Nike can enhance its brand image and use such brand image to sell its sportswear globally. Firstly, the paper presents a brief overview of the entity followed by an assessment of the aspects that have influenced Nike’s brand image. Then the paper discusses the strengths, weaknesses, opportunities and threats that affect Nike’s capacity to enhance its brand image. The paper subsequently discusses how the entity can enhance its brand image and how such enhanced brand image facilitates sales globally.
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