❖
Strengths:
1.
Well built Brand:
Nike, undeniably, is one of the most recognizable
brands. When people want to go for contemporary and modern sporty
footwear, Nike is the first name that pops up in their mind. Their brand name,
verily, is unique and the swoosh symbol is easily recognizable. It is a
competitive organization that is successful in creating brand awareness.
2.
Strong consumer base:
There are millions of customers of Nike who
follow the brand. Because of this popularity, they have grown their revenue to
$232 billion in 2022.
3.
Inexpensive manufacturing cost:
Nike’s products are manufactured in
foreign countries. In annual accounting period of 2021, Vietnam produced
51%, China 24%, Indonesia 21% of total Nike’s footwear. Their labor cost is
tremendously low and uses inexpensive material, resultantly, they have cheap
product range.
4.
Well established association
:
Nike’s long-term partnership with
Michael Jordan,
an
American businessman and former professional basketball
player
,
has proved to be beneficial in terms of sales for the company.
5.
Superior marketing capabilities:
The marketing strategies of Nike are
magnificent. They
auspiciously make use of social media and other mediums
of advertisement to target the audience.
❖
Weaknesses
1.
Poor labors’ condition:
It is said that in many foreign countries the
working conditions of labors is really pathetic. There is accusation of child
