TITLE:
Brand Assessment of the Adaptation of Nike to New Consumer Trends
AUTHORS:
Ava Broussard-Goldsmith
KEYWORDS:
Brand Assessment, Business, Business Management, Brand Analysis
JOURNAL NAME:
Open Journal of Business and Management,
Vol.12 No.6,
November
6,
2024
ABSTRACT: This research paper delves into the different aspects of Nike’s brand within the global market. It discusses current market trends, explores how Nike adapts to shifts in consumer preferences and industry developments and analyzes Nike’s approach to catering to different consumer targets through various techniques and by examining the brand’s diverse product categories. Additionally, by observing Nike’s product strategy and brand purpose, it assesses how innovation, sustainability, and design contribute to the brand’s appeal, making it one of the most well-known sportswear brands in the world and exploring how it aligns with societal values and environmental causes. This paper is divided into six main categories: Introduction, Assessing the Landscape (Category), Define “Who” Segmentation, Product Brand/Value Proposition, Consumers Relation to Brand, and Recommendations/Conclusion. Lastly, the paper evaluates competitive forces, considering how Nike navigates challenges in the athletic and lifestyle apparel market. Through a comprehensive analysis of these factors, this research paper aims to provide valuable insights into Nike’s brand positioning and trajectory in a dynamic and competitive market environment. Additionally, it is meant to provide recommendations on expanding Nike’s outreach. Some recommendations include strengthening the e-commerce platform, increasing sustainable practices, and engaging with more local/community causes instead of large celebrity profiles.