Nike Inc. The Powerhouse Of The Sporting Goods And...

Nike Inc. has been the powerhouse of the sporting goods and apparel industry for years. Headquartering its powerful brand from Beaverton, Oregon, the company was founded on September 8, 1969 by Phil Knight, with a mission that emphasizes â€Å"design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services.† The rapid growth of the brand has led to heightened sales and endorsements in the United States, as well as incredible market performance in Europe and Asia (Morningstar). To maintain a competitive advantage in a clustered market, Nike has expanded its business across several sectors of the sports world, including Running, Training, Golf, the Jordan Brand, Elite, and many more. The company focuses on innovative products that are of high quality and appeal to the eye. For example, Nike released a preview of its high-tech, self-tying shoe from the famous â€Å"Back to the Future† films; the Nike Mags. A major reason why Nike has crushed profit expectations for nearly 4 consecutive years is due to the diversity of its products and its efficient outsourcing tactics. Furthermore, consumers are attracted to the brand itself, and one analyst said that roughly 80% of Nike shoes are bought for lifestyle purposes, not for a particular sport. At $50.57 per share, the company is performing below the target stock price, but optimism is high for a company that continues to exceed annual expectations. Growth for the next 5 years is expected toShow MoreRelatedBusiness Description And Growth Strategies1000 Words   |  4 PagesBusiness Description Growth Strategies: DICK’S Sporting Goods, an American sporting goods retailer, was founded in 1948 by a young but up-and-coming 18-year-old Dick Stack. 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The company is headquartered in Beaverton Beaverton, Oregon BeavertonRead MoreAthletic Shoe and Nike4456 Words   |  18 PagesNIKE 1 Nike has always remained on the preference list of athletes and  athletic  footwear  was indeed the first category of products launched by the company more than 30 years ago. Today, you can see the craze for its products, not only among athletes, but also among golfers and other sportspeople. Apart from that,  Nike  shoes  and other accessories have also become the favorite  fashion  products for teenagers. Thus, fashion, elegance and achievements are some of the associated attributes of Nike