BM - Nike [PDF]

Zitiervorschau

Q) Pick a Brand. Identify all its Brand Elements and asses their ability to contribute to Brand Equity according to the choice of criteria identified. ( E.g – Memorability, Meaningfullness, Likebility )

Ans – The Brand I have chosen is NIKE – Just Do It.

NIKE Nike, Inc., formerly Blue Ribbon Sports, American sportswear company headquartered in Beaverton, Oregon. It was founded in 1964 as Blue Ribbon Sports by Bill Bowerman, a trackand-field coach at the University of Oregon, and his former student Phil Knight. They opened their first retail outlet in 1966 and launched the Nike brand shoe in 1972. The company was renamed Nike, Inc., in 1978 and went public two years later. By the early 21st century, Nike had retail outlets and distributors in more than 170 countries, and its logo—a curved check mark called the “swoosh”—was recognized throughout the world. Nike is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment. Nike ranked No. 89 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. The company takes its name from Nike, the Greek goddess of victory. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, Nike CR7, and subsidiaries including Brand Jordan, Hurley International and Converse. In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of "Just Do It" and the Swoosh logo. Criteria for Brand Elements of Nike The criteria the brand identity elements have to meet are the following – Brand elements have to be: • • • • • •

Memorable; elements must be easily recognized and easy recalled Meaningful; elements must be descriptive and persuasive Likable; elements must be fun and interesting, rich visual and verbal imagery and aesthetically pleasing Transferable; elements must be within and across product categories Adaptable; elements must be flexible and uptable Protectable; elements must be legally and competitively

1) Memorability is the recognition and recall of the brand. Nike - The brand was launched after the brand “Blue ribbon sports ”The meaning of Nike' is “The Greek goddess of victory' which associated with sports by Nike. In addition the brand is also recognized with its simple logo which promotes victory and winning. 2) Meaningfulness is awareness, descriptive and recognition of the brand . Nike - In the sports competition is one of the most important things between the athletes and the brands. That is why a sport company Nike has used meaningful objects as a brand name and brand symbol. The brand name means the “Greek goddess of victory” and the symbol is a wing which promotes victory. 3) Likability is how much the customers find the brand aesthetically. Nike - The symbol of the brand reminds the minds the sign of “ok ”. In addition it is associated with victory and winning. These all have positive effects in people”s view. This is why the brand name and logo are likeable in all over the world.

The above 3 criteria constitute the “ Offensive Strategy ” towards building Brand Equity.

4) Transferability is the capability of the brand to add new products in the line extensions for Brand Equity . Nike - When we look at the brand Nike always increases its portfolio with the same name. This is why we can easily say that Nike is using transferability successfully. It also changes its logo according to gender, product etc. As can be seen below –

5) Adaptability is how faster the brand responses to the changes in the environment. Nike – As can be seen below, the logo of the brand has changed many times in the years which shows us how Nike uses adaptability for Brand Equity.

6) Protectability is the last element of Brand Equity which is about protection and registration legally. Nike – The brand has protected their brand elements through registering their trademark and copyrighting their brand name, logo, and associations. The above 3 criteria constitute the “ Defensive Strategy ” towards leveraging and maintaining Brand Equity.

To show you how well Nike scored on the different criteria in my opinion I have made the following table.

Brand name & logo: Everybody knows Nike and their logo. Nike is a worldwide concept. So Nike is doing a really great job on their name and logo. The brand awareness is great in the mind of their customers. The brand is named after the Greek goddess of Victory. Some people associate the Nike logo (the swoosh) with the goddess as well. The believe the swoosh is one of the wings of the goddess. Others thinks the swoosh refers to the movements of an athlete or the sound of a whip. But the logo could be a sign of speed and elegance as well. One thing is certain, all the guesses have to do with sport. Slogan: The slogan of Nike is really strong. They want to communicate that sport is for everybody. You just have to do it. Nike not only uses the slogan ‘Just do it’. They use some other ‘sub-slogans’ as well. For instance: “If you have a body, you’re an athlete” or “If you can control the cage, control the pitch”. Nike is for everybody. Just do it. Celebrity/Athlete: Nike uses different athletes in their ads. For example Roger Federer and Ronaldo. They show these athletes making their way towards victory. This makes most of us to believe, that when it comes to buying sport shoes, clothes or equipments, we just have to step into one of Nike’s shoes to become an athlete as well. Nike uses not only one athlete, like Espresso only uses George Clooney fort heir ad. Nike uses different athletes of different sports. Packaging: Nike uses their brand name and slogan on their packaging. They use these elements for example on bags or shoe boxes. But they use different colors for their packaging. For instance, some of their shoe boxes are red, some of them are brown. They use the name and color all the time, but the colors differ.