What is Nike?
Nike is an American multinational corporation.
What does Nike do?
“NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories for men, women, and kids worldwide (Yahoo, 2015).”
How much is the Nike brand worth?
Nike’s brand value is 22.1 billion US dollars (Forbes, 2014).
These are some questions and answers that we often see on the Internet, and yet, from my perspective, Nike means more than that…
I think Nike is a mentor who will always stand by your side and tell you not to give up.
It’s a brand that gives you hope, courage, and perseverance.
For some people, especially athletes, Nike is a religion; it’s a belief that money can never buy.
In Greek mythology, Nike was the Greek goddess of victory. She flied down and bestowed a victory wreath to the athlete who won in the pentathlon. Thousands years later, someone brought her to life again. In 1964, Philip Knight, a runner from Portland, and Bill Bowerman, a track and field coach, co-founded NIKE, Inc. with only $1,200. Fifty years later, this company became one of the world’s most valuable brands.
How did they make it happen?
Dream big, work hard, and have faith.
#1: Dream Big
In our childhoods, we dreamed of everything, yet, as we grew older, our dreams faded because we realized that a dream is only a dream. Knight and Bowerman, however, didn’t think this way; they believed that everything is possible. Thus, they found the most iconic athletes in the world, and asked them how they became successful. These inspirational stories of heroism were displayed during games and on social media, such as Youtube, Facebook, and twitter, with hundred millions hits and were rooted into every sports fans hearts. Moreover, by performing different types of commercials, Nike told every fan that anyone could become next Lebron James, Tom Brady, or Cristiano Ronaldo. With these major sports stars’ endorsements, Nike created a powerful ethos – risk everything. Be legendary.
#2: Work Hard
If Nike only had iconic athletes’ endorsements, all that glitters would not be gold. Hence, Nike works hard on innovation; their products have been disrupted and evolved again and again.
Five years age, no one, except Nike’s staffs, heard of Nike Flyknit. The traditional Nike shoes were made out of pre-woven material cut pieces stitching and assembling them together (Siemers, 2012). Nike Flyknit, on the contrary, covers the foot with only one-piece yarn knit – just like a sock. “The result is a shoe that’s more environmentally friendly and could reduce long-term production costs (Carr, 2013).” Before launching this product, Nike put out an online press release and suddenly bloggers and news companies, including The Wall Street Journal, Bloomberg, and Business Insider, started writing about it. Without a doubt, the news has gone viral. People loved the product since Flyknit is lighter than other running shoes, but, most importantly, they knew that they could trust Nike because the brand invented remarkable products.
#3: Have Faith
Nobody’s perfect, so is Nike.
In order to pay billions of dollars in lengthy endorsement deals, Nike ought to keep its products at a pretty high price. While some marketers claim that due to consumer price sensitivity, customers are moving from Nike to other brands, Nike has faith in its works.
Nirmalya Kumar once said, “Branding is not merely about differentiating products; it is about striking emotional chords with consumers.” Nike possesses not only extraordinary products, but also an unbreakable relationship with its customers. Nike fans believe that Nike gives them braveries to find their greatness, to pursue their dreams, and to write their futures.
Just Do It.