Are you also looking for a Nike brand strategy and want to adopt them?
If Yes, then you’re at the right place!
Nike is a global success brand that has gone through a long journey to success. Nike is a massive success due to its highly researched brand strategies. And, we don’t need to tell you how successful the company Nike is.
Thus, we have researched for over a year on the Nike brand strategies and bring out this guide for you consisting of all the minute details regarding the Nike strategies of success.
Let’s begin with the strategies!
What Is Nike Brand Strategy
From starting a partnership as ASICS sportswear and accessories in 1964 to starting its independent brand in the early 1970s, Nike has covered a long journey to success.
Nike has observed its brand strategies a lot and brought timely evolution. Thus, they have set up a benchmark in society. Today, Nike is known for its brand strategies, and every other brand that wants to achieve such heights of success should try to adopt the Nike strategies.
Gist of Nike Brand Strategy
When you thoroughly analyze one of the most successful Nike brand strategy campaigns. In that case, you will realize that their advertisements only consist of a common heroic story, where people are the hero of their own story against their inner villain, laziness. It is famous in the market as the name of Nike’s emotional branding.
Nike knows very well that every person is fighting against their lazy side daily. Thus, they utilize this emotional marketing tactic to inspire customers’ loyalty.
Simply put, Nike has understood one common emotional trait in all the people and used it as a weapon against them to achieve their loyalty; hence, they are a massive success today. Nike has also created various advertisements that show women’s empowerment, which is also a great success. Again they were targeting the emotional side of the women.
This guide will also get to know the Nike marketing strategies later. Still, something greater is the Nike brand positioning they have set up in the people’s subconscious through their highly researched campaigns of making the people the hero of their own story.
Trust me, read this section again and again until you get your fundamental strategy and set up your positioning like Nike’s brand positioning.
3-Effective Elements of Nike Brand Strategy
Element #1: Strong Branding Reinforcement
Have a look at Nike’s advertisements, and you will notice along with the high-quality graphics and clips, Nike also leaves a strong message in its advertisements that reinforces its branding too.
They highlight their brand’s mission to empower athletes globally through life-learning stories. All they mention in their advertisements is a message to “bring inspiration and innovation to every athlete.”
Element #2: Nike Emotional Branding
If you ask me to describe Nike’s branding in one word, I will say “emotional.” Once you see Nike’s advertising, it will indeed trigger emotions inside you. After analyzing the Nike brand strategy, we have differentiated the triggered emotions into 5 human emotions:
- Pain: In Nike’s ads, you will see the sufferings, hardships, struggles, and pain of the athletes pointed out to which athletes relate and thus find the advertisements relatable.
- Strength: Then, Nike ads highlight that if athletes work hard for their goals, they will achieve and thus, they get a sense of motivation in life.
- Doubt: In the Nike ads, the brand also highlights their doubts because when a person faces challenges in life, he has to go through self-doubts and other hindrances in the progress path.
- Rededication: Then, ads show that the athletes don’t give up, see the possible rewards, and discover their real potential.
- Joy: At last, in the ads, Athletes achieved success after going through many ups and downs.
Element #3: Diversity and Inclusion
Nike’s marketing strategy is based on inclusivity and considers athletes of all backgrounds, ethnicities, gender, and age; thus, everyone relates to the advertisements.
Nike doesn’t focus on a single sport. Instead, they focus on various sports and athletes globally. From a 12-year-old student to a 50-years old mother, everyone is included in their ads to make people believe that Nike is the go-to footwear.
5-Step Nike Marketing Strategy
We have mentioned the 5-simple steps that would sum up the entire Nike marketing strategy so that you can also create your marketing strategy, likewise, the Nike strategy, to rule the market:
Figure Out Your Audience’s Needs
Firstly, by understanding the basic needs and requirements of your targeted audience, you can research your audience’s search intent on the internet so that you can produce relevant content to establish authority in their mind. And then, you can smartly introduce your product or services to their mind.
According to Nike’s brand strategy, They started understanding the search intent of the people who want to be fit & want to get in shape and then started creating content on jogging, yoga, and running to win the audience’s trust. Then, they smartly represented the benefits of the Nike brand to customers as a modern and cool way to stay healthy and fit.
Thus, instead of just focusing on selling the products or its so cold benefits, Nike focused on the Nike market segmentation. And then products automatically started selling.
Figure Out the Best Possible Ways to Reach Out to Your Audience
Secondly, Nike’s marketing strategy teaches you to identify where your targeted customers hang out or surf. You have to figure out the social networks they are highly active on and the ways to promote on those platforms.
Simply put, you have to be authorized on your audience’s platform.
One more tip is to analyze the habits of your audience, their content preferences, and where they would likely search for it before publishing your content. It will help you make all of your efforts in the right way.
Start Producing the Relevant Products/Services
Now, when you know the taste and preferences of your audience, you are ready to create actual valuable products for them. If you would notice, Nike never compromises their product quality. Thus, people appreciate their products so much.
Listen to your existing and potential customers, and evolve your products based on their demand and approaches to maintain sustainability in your niche.
Nike Pricing Strategy Is Lit
Nike is a hub of various kinds of products. Thus, they use different pricing strategies to set the right price for a product. We have hand-picked the prominent Nike pricing strategy here:
- Value-Based Pricing: Instead of selling the products at the lowest possible price, Nike sells the highest quality products at the right price. This strategy also considers the targeted customers’ purchase power capacity and starts selling the products/services.
- Price Leadership Strategy: A leadership pricing strategy is the best possible for an oligopolistic market, and Nike is a renowned player in the oligopolistic market. Lead the industry by understanding your prices, analyzing the competitive prices, and setting up attractive pricing in the market.
- Skimming Pricing Strategy: As everyone knows that every 4-6 months, Nike launches a new pair of limited edition shoes and people purchase them at premium prices to reflect their status in the market. Once Nike launches the new pairs, they significantly reduce the prices of the last edition. This spike in price is known as the skimming price strategy.
- Premium Pricing Strategy: In this pricing model, Nike keeps its product prices significantly higher than the competitors by maintaining the highest possible quality. It will directly reflect the company’s highest image and increase the status of people wearing the Nike logo.
Use Influencer Marketing With a Great Tagline
A significant portion of Nike’s marketing strategy is dependent upon Influencer marketing. Nike collaborates with influencers in bulk and spends a lot of money on national & international athletes and players.
Nike also sponsors a lot of Olympics, sports events, and international events to make people aware that all the leading sports persons carry the Nike brand.
Thus, they try to reflect that all successful athletes wear Nike, which encourages people and influencers’ fans to purchase Nike sportswear and shoes. This is how Nike’s market segmentation is established.
And, To make people remember their identity, Nike has created their famous tagline “Just Do It.” It is a normal human tendency to memorize such taglines quickly and for a longer term than usually a brand’s name. Thus, it would help if you also created a tagline for your brand.
We hope this article helps you figure out the marketing strategies of Nike, and you could have got an idea of how you can implement them in your company.