SWOT Analysis for Nike You Need to Understand

When we talk about famous brands for athletes, we can think about Nike. It is because this brand is popular not only with athletes but also with other consumers. In this discussion, we will give you enough information about the company's SWOT analysis. This way, you get an idea why Nike is a common-used brand. After that, the post will introduce an outstanding tool for creating the diagram. If you want to understand more about the topic, read the post. So, check here and learn more about the Nike SWOT analysis.

• Part 1. Remarkable Tool to Create SWOT Analysis of Nike
• Part 2. Introduction to Nike
• Part 3. Nike SWOT Analysis
• Part 4. FAQs about Nike SWOT Analysis

Part 1. Remarkable Tool to Create SWOT Analysis of Nike

Creating a Nike SWOT analysis is easy when using MindOnMap. With the guidance of this remarkable tool, you can make your diagram excellent and easy to understand. Also, MindOnMap can give everything you need during the diagram-making process. After opening the main interface, you can go to the General section. Then, you can use every function you need, like shapes, text, lines, and more. Additionally, on the upper part of the interface, you can use the Fill and Font color functions to add colors to the shapes and text. This way, the tool can guarantee you get a colorful diagram. Besides shapes and text, you can add colors to the background using the Theme function. You can find this function on the right part of the interface. Plus, you can use the more options you need. It includes tables, font styles, sizes, advanced shapes, and more. Moreover, MindOnMap doesn't require you to be a skilled user. The tool has an intuitive interface which is good for beginners. Aside from that, you can access MindOnMap on all devices with browsers. It includes Chrome, Mozilla, Edge, Explorer, Safari, and other web platforms. But wait, there’s more. Another feature you can enjoy while creating the Nike SWOT analysis is its auto-saving feature. The tool can save your diagram automatically. This way, the data won't lose or disappear even if you turn off the device automatically.

Part 2. Introduction to Nike

Nike is among the most popular companies you can hear everywhere. It is engaged in development, manufacturing, accessories, footwear, apparel, and more. The company's headquarters is in Beaverton, Oregon, in the Portland Metropolitan Area. Nike is among the largest suppliers of athletic shoes and sports equipment. The company's founders are Phil Knight and Bill Bowerman (1964). The first name of the company is “Blue Ribbon Sports.” Then, in 1971, the company officially became Nike. For additional information, they named the company Nike with excellent meaning. Nike is the Greek Goddess of Victory. Also, besides sportswear and equipment, the company has a retail store in various countries. Moreover, the company sponsors many popular athletes and teams globally. Nike also has their own trademark, “Just Do It.” Until now, Nike is still considered one of the most successful companies in the world.

Part 3. Nike SWOT Analysis

Discovering Nike’s strengths, weaknesses, opportunities, and threats is crucial. So, if you want to view the SWOT analysis of Nike, see the complete diagram below.

Get a detailed SWOT analysis of Nike.

Nike Strengths in SWOT Analysis

Brand Name’s Popularity

Nike is one of the most commonly-used brands when it talks about shoes. It is because people always use this brand compared to others. It is the strength of the company. To make more revenue, they must continue producing high-quality products and services. Also, Nike must continue improving their products to make them more popular with its consumers.

Partnership

The company creates good partnerships and relationships with other businesses. With this kind of strategy, they can get more profit. Also, they can spread their products to all places or countries. Having a good relationship can also get a good impression on other businesses. They can spread their brands and be known in the market without a problem.

Loyal Customers

Nike has almost millions of customers around the world. They are loyal to the brand of the products and follow them in every activity. Having loyal customers is one of the strengths of the company. They can maintain the popularity of the company. Also, there are possibilities that loyal customers can convince and attract other people to purchase Nike products.

Marketing Capabilities

Another strength of the company is they have exceptional marketing campaigns. They introduce their products and services through advertisements, promotions, endorsements, and more. The company can spend billions of dollars on its campaign. This way, they can reach out to more target customers. Also, their brand name will get popular on various social media platforms.

Nike Weaknesses in SWOT Analysis

Labor Controversies

The company outsourced its facilities to developing countries. It is to keep its operation at a low cost. According to the report, the company’s employees are forced to work excessive hours. They are also in a high-pressure work environment. The saddest part is that employees are not earning enough. The company must overcome this discussion to avoid more issues in the near future.

Lack of Innovation

Over the past few years, the company has been producing the same products and services. With this, some consumers can’t see something new in the company. Nike needs to create innovative products to attract more consumers. This way. They can show people what capabilities they have.

Nike Opportunities in SWOT Analysis

Innovative Products

The company needs to innovate products. One of the best products the company created is wearable technology that can monitor physical activities. This product can attract more consumers. With this kind of innovation, the company can still be popular. Aside from that, Nike needs to innovate more. It is to keep its status in the market.

End Use of Kangaroo Leather

The company stops using Kangaroo skins in their products. This way, Nike can please both consumers and animal rights activists. Also, this opportunity influences the image of the company. The issue of abusing animals will stop, and people can be happy for the company.

Developing Digital Business

In 2022, 42% revenue of the company came from online sales. It is during the pandemic period. In this observation, the company needs to develop its digital business. Nowadays, consumers want to purchase products online rather than going to physical stores. It is an opportunity for the company to attract more customers online.

Nike Threats in SWOT Analysis

Pressure from Competitors

Even if the company dominates the athletic industry, more competitors are showing up and can equal their products. The company needs to spend more on advertising and marketing. Also, another solution they need is to create innovative products that can please both customers and athletes.

Pressure on Marketing Budget

More competitors spend a lot of money on advertising and marketing campaigns. It increases the pressure on the company. So, Nike also needs to spend more to compete with its competitors.

Part 4. FAQs about Nike SWOT Analysis