Nikes industry performance

first, the industry is experiencing stiff competition given the different companies that have come up to provide for the sportswear in different fields and more so the concentration in footwear. The stiff competition has provided for advancement within the industry to offer quality products to the customers as well as be able to cover a wider market share. The industry has also seen development in fashion in terms of the product with new designs coming up day by day and which suits the requirements of the market. Nike being part of the industry has seen the advanced changes bringing a general change within the society with people embracing the fashion aspect and being able to develop the attitude of the products developed in the industry.

That is why most of these companies have their brands on sports personalities and clubs all over the world promoting growth. Through this dimension, the company has been able to create a brand image that is selling across the globe. Also, the company has inducted into research and development. The application has helped to be able to realize the market trends and new designs fitting the customer needs other than just mere products. Through research, the company has been able to develop quality products and with unique status thus helping its competitive advantage. Cons Competition from other upcoming companies: Nike is experiencing stiff competition from other upcoming companies like Adidas and Puma who are making inroads to the market with some of the unique products.

Anchoring on online services of receiving purchases and delivering online it has made it easier to offer the products to customers across the globe. Under the opened channels, the availability of products as influenced the customer purchase and created customer base for the company products across the world. Strong financial position: the company has opened up many branches across the world and receiving a good net worth return from the sales has effected well in its operations. Through a strong financial base, the company has been able to develop and invest in research on new innovations for their products and hence its continuity. Disadvantages Premium price range: The company quality product and innovative technology seem to reflect negatively on the company performance.

Advantages Runaway growth: The company has established to have a quick track record of growth since its establishment. On its entry into the market, the company provided to have a fast-growing record with its inducted good strategies venturing a market dominated by big companies like Adidas and Nike. It has been able to sustain this growth and hence to have a contributory space in the industry. Trendy advertising: The company has invested heavily in trendy advertising for its products. Through the marketing agreements reached out with other partners, the company has been able to yield big returns that have prospected a future for the operations. Work cited Bhasin, H. (2018, June 14). Top 10 Nike competitors - Competitor analysis of Nike. Retrieved from https://www.