Fashion trends change from time to time. Relevance in the fashion industry is crucial in establishing your brand. Apart from maintaining relevance; other factors contribute to market dominance; they include marketing, quality, and varied designs. Nike was initially known as the blue ribbon company. Nike some of the things Nike deals include jazzy, sportswear, footwear, most of the Nikes production are for sports reasons. People have embraced casual wear in the recent past.
To begin with, Nike has used celebrity endorsements to remain relevant in the market. Nike takes this to their advantage to sell their products to the fan thorough their esteemed athlete, a new creation and design is created with relevance to the celebrate or athlete. For instance Nike may create a new sneaker design with the popularity of the brand these shoes are likely to sell and make profit. Long term commitments have more impact than short term commitments. When Nike identify new and upcoming celebrities, they can grow with them until they are well known. Nike has ensured that their markets stable thus encouraging celebrities to renew their contract with them over and over again.
Investing in their marketing has seen Nike be one of the most trusted brands. Through marketing, the brand start conversations among the possible clients, and they can give feedback about the product. With a lot of people identifying with it has become easy for their marketing strategies to spread quickly. With their quality products, Nike has die-hard fans who will buy any new product from Nike. Nike ensures that their products are produced and available to all their potential clients once the new designs are out. Children like to identify with the celebrities they love.
Reducing the completion against them has Nike to be a renowned brand. There are a large number of Nike competitors all over the world. Through mutual agreements, Nike dissolves competing companies making them part and parcel of the brands. Low competition for a large brand like Nike means more and more sales. The market which had been dominated by the bought companies are incorporated with others owned by Nike around the world. The more the companies bought out by Nike, the more their dominance in the market.
Standard products are a key factor which has led to Nike remaining relevant in the market. If the goods produced by a company are of good quality then they are likely to last long. Faithful customers are the best they buy any new product from their esteemed company. Durable products have made Nike a preferable brand to many. Despite the price of the Nike product, customers still buy knowing there is a low possibility of untimely replacement. With the rise in the number of counterfeit companies Nike has been stood out.