Seeing a winning athlete wearing a Nike shoes in a professional competition authenticated the quality perception in the minds of the customers about the Nike brand. Nike was the only sportswear brand listed in the ranking showcasing its high brand equity. When the company expanded they used a “Finger on the pulse strategy” where Nike have some of its employees hitting the street finding out what is in the minds of their consumers and following their needs and tracking their brand perception. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Scribd will begin operating the SlideShare business on December 1, 2020
Besides his own brand association, Ronaldo also valuable for Nike as Hookit ,which which measures the social and digital media value for brands, reported that Ronaldo’s social media activities generated a staggering $474 million in value for Nike at 2016. In my opinion, it’s more aesthetically pleasing as well. Nike uses a combination of its inspirational advertisements, active lifestyle mentality, rich athletic history, highly recognizable symbols and tagline, athletic endorsers/partnerships and constant innovation to differentiate itself from competitors. Biggest Athlete Endorsement Deals In Sports History. is a great way to create a two-way conversation with consumers.
Thus, ultimately leading you back to Nike. Aaker on Branding 20 principles that drive success. The core o f building the brand equity for Nike brand equity is brand association. Turn Yourself Into a Guest Author. Title Slide of NIKE Brand Associations Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Now customize the name of a clipboard to store your clips. With the athleisure trend, customers are looking more for sneakers that make a fashion statement and less for a running shoe (Tuttle, 2016). See our User Agreement and Privacy Policy. In my point of view, it’s hard to say which brand is better from different aspects. As for brand recognition-wise, Nike wins again. In addition, one of the most important sources of Nike brand equity is the high perceived quality of the brand not only among athletes but also between the public.Although most of Nike’s market was the public that used their shoes just for walking around yet Nike was committed to design their shoes according to the high standards of professional competition. Nike Co-founder, Bill Bowerman emphasized this idea even more when he stated, “If you have a body, you are an athlete”. David Aker, a specialist in marketing with a focus on brand strategy, defines brand equity as a set of brand assets and liabilities linked to a brand name and symbol, which add or subtract from the value provided by a product or service (Aaker, 2013).So let’s look at how the apparel and footwear mega-brand Nike built it brand equity to become what some regard as “the best sports brand ever”. Take Under Armour as the example. If you continue browsing the site, you agree to the use of cookies on this website. This type of connection with a brand fosters brand loyalty. Brand associations include a variety of things like product attributes, design, social programs, imagery and symbols (Aaker, 2014). With brand awareness comes brand associations. But Adidas, Under Armour and Rebook are all big competitors of it. UA recently got a deal with Steph Curry, but in the Finals, he just lost to Nike’s LeBron, seemingly offering a temporary stop to all of the Curry hype. How has Nike mastered this relationship? Jordan’s, Kobe’s, KD’s, LeBron’s, and Kyrie’s are all quite decent cash cows. UA has seemed to focus on training-focused gear in the past, and has recently been gaining traction in basketball. The brand name is easily memorized by costumers. Core associations for Nike include: innovative technology, high quality/stylish products, joy … See our Privacy Policy and User Agreement for details.
Brand associations include a variety of things like product attributes, design, social programs, imagery and symbols (Aaker, 2014). Even with competitors trying to close the gap, Nike continues to come out on top. No public clipboards found for this slide, Gerente de marketing e conteúdo, Analista de SEO e Google Analytics na Jogue Tennis. In terms of shoes, Nike has a freaking broad line. This strategy created a lot of attachment of athletes to the brand, some sort of brand loyalty. Make Yourself a Star! Although Nike remains the market leader in retail sneaker sales, the company should keep an eye on competitors like Adidas and Puma (Tuttle, 2016).
While Nike has many positive brand associations, the brand has not been immune to unfavorable ones. Brand associations are all about what customers think of when they see a brand or when it’s mentioned. At a relatively cheap price-point of $110–130 for a superstar’s signature shoes, Curry’s have gotten a lot of attention. For example, when you think about the greatest basketball player of all time, Michael Jordan may come to mind. That could manifest itself in a customer as competing with laziness to become more active or pushing the limits internally to become a better athlete. The customers get something that helps them with their fitness regime and helps them interact with friends, while Nike gets valuable information about how customers are using its products. Such as Nike, since its creation in 1971 in the USA, the Nike swoosh is still one of the world’s most valuable brand despite of the severe crises. Why Nike is losing its foothold on America’s sneaker market. Among these strategies, athlete endorsements could be considered as the most significant success of Nike brand. Some of the brand associations for Nike include the Swoosh symbol, the “Just Do It” tagline and athlete endorsers like LeBron James. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. A brand association is a mental connection between a brand and a concept. However, I would argue that one of the first thoughts that come to mind is the Air Jordan shoe. The most effective marketing channels? [PDF document]. They are always in touch with you to let you know the status of paper and always meet the deadline! Clipping is a handy way to collect important slides you want to go back to later. That’s a significant figure, and it’s been a cause for concern for Nike loyalists and shareholders. Poor working conditions and low wages in factories where Nike’s products were produced were brought to light in the early 1990’s (Nisen, 2013). All in all, compared to other athlete brands, Nike still occupies the market competitiveness. In terms of growth, however, it’s been a different story for the two companies. Performance-wise, the Curry line has been solid. MJ, KD, LeBron, Tiger, Federer, Cristiano Ronaldo, and many more. First, Nike has a well established and strong brand identity with a well recognized and distinguished brand name and brand log, the swoosh. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. "Just do it" it is Nike classical slogan, surely the most powerful and perfect one there has ever been. You can change your ad preferences anytime.
To strengthen brand loyalty, the relationship between the brand and the customer needs to be rich, meaningful and consistent over time (Aaker, 2014).
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