Nike Closing at Country Belgium Essay Example

Paper Type:  Essay
Pages:  2
Wordcount:  529 Words
Date:  2022-11-20

A company's competitors refer to all the businesses which struggle to have greater control of the same market base or segment by making their commodities or services constitute the largest proportion of consumers' spending (Adom, Nyarko, & Som, 2016). Nike faces competition from other companies that sell sports merchandise, particularly brands such as Reebok, Asics, Adidas, and Puma. However, among the companies, Adidas remains the key rival that Nike faces in the industry. Nike enjoys a market share of approximately 33 percent which is a conquerable lead against the main rival Adidas (Dogiamis & Vijayashanker, 2009). Apart from Adidas, the competition that the other brands pose is due to the price differential which can make consumers easily change their minds. Traditionally Nike faced competition from Nike, Fila, Adidas-Reebok as well as Puma; however today the company has to deal with competition from newer players like Under Armour (Mahdi, Abbas, & Mazar, 2016). Therefore, Nike has to come up with innovative ways of countering the fierce competition in order to maintain its top spot in the industry.

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Dealing with completion requires an organization to identify and analyze the key strengths that offer competitive advantages to the rival businesses. Whereas Nike controls up to about a third of the global market share, the organization's significant competitors including Adidas and Reebok only have a 16 and 6 percent of the market proportions respectively (Ahmed, Bhutto, & Brohi, 2016). The competitive advantage of Adidas lies in the company's propensity for fashion goods making it the preferred official wear for NBA. On the other hand, Reebok strength lies in the effective casual marketing strategy that enables it to reach the emerging market with relative ease. In recent times, the competitors of Nike including Adidas continue to engage in various mobile marketing tools and strategies making the business environment challenging for Nike (Ali & Din, 2017). Adidas Group has in the past experienced minimal challenges while executing the company's strategy of expanding into new market regions (Alsbiei, 2015). Dethroning Nike of its position as the leader in the industry may be a tall order, but the company should not sit pretty since the competition could get stiffer.

References

Adom, A., Nyarko, I., & Som, G. (2016). Competitor Analysis in Strategic Management: Is it a Worthwhile Managerial Practice in Contemporary Times? Journal of Resources Development and Management, 24(3), 116-127. Retrieved from Journal of Resources Development and Management.

Ahmed, R., Bhutto, A., & Brohi, H. (2016). Strategic Marketing Plan of Nike. Retrieved from Researchgate: https://www.researchgate.net/publication/299889166_Strategic_Marketing_Plan_of_Nike

Ali, M., & Din, N. (2017). Comparative Analysis of Brand Performance and Financial Gains a Case Study of Nike, Adidas and Puma. International Journal of Humanities and Social Science Invention, 6(1), 17-25.

Alsbiei, O. (2015). Adidas Group Strategy Analysis. Retrieved from Researchgate: https://www.researchgate.net/publication/281740663_ADIDAS_GROUP_Strategy_Analysis

Dogiamis, G., & Vijayashanker, N. (2009). Adidas: Sprinting ahead of Nike. Retrieved from Mcafee: https://www.mcafee.cc/Classes/BEM106/Papers/2009/Adidas.pdf

Mahdi, H., Abbas, M., & Mazar, T. (2016). A Comparative Analysis of Strategies and Business Models of Nike, Inc. and Adidas Group with special reference to Competitive Advantage in the context of a Dynamic and Competitive Environment. International Journal of Business Management and Economic Research, 6(3), 167-177.

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Nike Closing at Country Belgium Essay Example. (2022, Nov 20). Retrieved from https://proessays.net/essays/nike-closing-at-country-belgium-essay-example

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