nike战略分析.docx

nike战略分析.docx

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nike战略分析

Nike:

RidingHighWithaGreatImage

OnAugust27,1996,thesportsworldwasintriguedatwhatwasinstoreforTigerWoods,the20-year-oldgolferwhohadjustwonhisthirdconsecutiveU.SAmateurchampionship.HedecidedtobeginhisprofessionalcareeranddroppedoutofStanfordinwhatwouldhavebeenhisjunioryear.

Hispro-golfcareerstartedwithacontractwithNikeworth$40million.AfterthesigninghewasflowninaGulfstreamIVownedbythefounderofNike,PhilKnight,toplayintheGreaterMilwaukeeOpen.Allthisforayoungmanwhohadalwaysflowncoachclassandhadtocounthismealmoney.Hehadplayedamateurgolfforthelasttime.BeforetheyearwasoverhewastowintwotournamentsandbenamedbySportsIllustrated,＂Sportsmanoftheyear.＂Thiswasonlythebeginning,ashewontheprestigiousMastersonApril13,1997bythebiggestmargineverachieved,inthemostwatchedgolffinaleinthehistoryoftelevision.

Withwhatsomethoughtwasacommodityproduct,onethatcouldcommandlittlebranduniqueness,andonethatmanyotherssawasonlyashort-termfadphenomenon,PillKnighthasfashionedforNikeamarketingstrategyandimagethatputitintheforefrontofgrowthfirmsandbroughtittobecomeoneoftheworld’sgreatbrandnames.Amongthe1,200U.SbrandstrackedbyYoung&Rubicam,Nikeranksamongthetopten,alongsideCoke,DisneyandHallmark.Intheprocess,KnighthasbecomeoneoftherichestAmericans,worth$5.3billion,behindonlyBillGatesofMicrosoft;WarrenBuffett,theinvestorsupreme;andthreeothers.

PHILKNIGHT

ThefounderofthegreatNikerunningmachinewashimselfonlyamediocrerunner,amilerofmodestaccomplishments.Hisbesttimewasa4:

13,hardlyinthesameleagueasthebelow-4:

00world-classrunners.ButhehadtrainedundertherenownedcoachBillBowermanattheUniversityofOregon.Inthelate1950s,BowermanhadputEugene、Oregononthemapwhenyearafteryearheturnedoutworld-record-settinglong-distancerunners.

IntheprocessofcompletinghisMBAatStanfordUniversity,PilwrotearesearchpaperbasedonthetheorythattheJapanesecoulddoforathleticshoeswhattheyweredoingforcameras¸thatis,makeacheaper,betterproduct.Afterreceivinghisdegreein1960,KnightwenttoJapantoseekanAmericandistributorshipfromtheOnitsukaCompanyforTigershoes.Returninghome,hetooksamplesoftheshoestoBowerman.

In1964,KnightandBowermanwentintobusiness.Theyeachputup$500andformedtheBlueRibbonShoeCompany,soledistributorintheUnitedStatesforTigerrunningshoes.TheyputtheinventoryinKnight’sfather-in-law’sbasement,andtheysold$8,000worthoftheseimportedshoesthatfirstyear.KnightworkedbydaysasaCooper&Lybrandaccountant,whileatnightandonweekendshepeddledtheseshoesmostlytohighschoolathleticteams.

ButKnightandBowermanworriedthatTigerwouldfindamoreestablisheddistributor,andsotheydevelopedtheirownshoeandthebrandname,Nike,aftertheGreekwingedgoddessofvictory.Atthesametimetheyintroducedthe

INFORMATIONBOX

THENIKE＂SWOOSHLOGO＂

TheNike＂swoosh＂isoneoftheworld’sbest-recognizedlogos.IntheveryearlydaysofNike,alocaldesignstudentatPortlandStateUniversitywaspaid$35forcreatingit.Thecurryspeedy-lookingblurturnedouttobehighlydistinctiveandhasfromthenonbeenplacedonallNikeproducts.PilKnightevenhastheswooshlogotattooedonhisleftcalf.Becauseithasbecomesofamiliar,NikenolongerhastoaddthenameNiketothelogo.（TigerWoodswearsacapandotherclothingwiththeswooshlogodiscretelyvisible）

Thepowerofsuchawell-knownlogomakesNike’ssponsorshipoffamousathletesunusuallyeffectiveastheywearshoesandotherproductsdisplayingitintheirsportsexploits.

Inyourjudgment,doyouthinkNikecouldhaveachieveditspresentsuccesswithoutthisuniquebutsimplelogo?

Inotherwords,howimportantisagoodlogotoafirm?

“Swoosh’logo,describedintheprecedinginformationbox.TheNikeshoe’sfirstappearanceincompetitioncameduringthe1972OlympictrialsinEugene,Oregon.Marathonrunnerspersuadedtowearthenewshoesplacedfourththroughseventh,whereasAdidas,thenumberonerunningfootwear-makerintheworld,hadwearsfinishingfirst,secondandthirdinthesetrials.

OnaSundaymorningin1975,Bowermanbegantinkeringwithhiswife’swaffleironandsomeurethanerubber,andhefashionedanewtypeofsole,awafflesolewhosetinyrubberstudsmadeitmorespringythanthoseofothershoescurrentlyonthemarket.Thisproductimprovementseeminglysosimple-gaveKnightandBowermananinitialimpetus.

TTHEINITIALCHARGEOFNIKE

Thenew＂wafflesole＂developedbyBowermanprovedpopularwithrunners,andthis,alongwiththefavorablemarket,brought1976salesto$14million,uptofrom$8.3milliontheyearbefore,andfromonly$2millionin1972.

Nikestayedintheforefrontoftheindustrywithitscarefulresearchanddevelopmentnewmodels.BytheendofthedecadeNikewasemployingalmost100peopleintheresearchanddevelopmentsectionofthecompany.Over140differentmodelswereofferedintheproductline,someofthesethemostinnovativeandtechnologicallyadvancedonthemarket.Thisdiversitycamefrommodelsdesignedfordifferentfoottypes,bodyweights,runningspeeds,trainingschedules,sexes,anddifferentlevelsofskills.

Bythelate1970sandearly1980s,demandforNikeswassogreatthat60percentofits8,000departmentstore,sportinggoods,andshoestoredealersgaveadvanceorders,oftenwaitingsixmonthsfordelivery.ThisgaveNikeabigadvantageinproductionschedulingandinventorycosts.Table2.1showsthephenomenalgrowthofNike,withsalesrisingfrom$14millionin1976to$694milliononly6yearslater.Table2.2showsthemarketsharesintheU.Smarketforthebeginningof1979.BythenNikewasthemarket.

Table2.1NikeSalesGrowth,1976-1981

YearSales$（inmillions）PercentChangefromPreviousYear

1976$14—

197729107

197871145

1979200182

198037035

198145870

198269434

Source:

Companyannualreports

Table2.2U.SRunning-ShoeMarketShares,1978

PercentageofTotalU.SMarket

Nike33

Adidas20

Brooks11

NewBalance10

Converse5

Puma5

leaderwith33percentofthe＂market;within2yearsithadtakenanevenmorecommandinglead,withapproximately50percentofthetotalmarket.Adidas’ssharewasfalling,wellbelowthatofNike,andit啊lsohadU.SfirmssuchasBrooksandNewBalancetoworryabout.

In1980Nikewentpublic,andKnightbecameaninstantmultimillionaire,reachingthecovetedForbesRichestFourHundredAmericanswithanetworthestimatedatjustunder$300million.Bowerman,at70,hadsoldmostofhisstockearlierandownedonly2percentofthecompany,worthamere$9.5million.

IntheJanuary4,1982,editionofForbesinthe＂AnnualReportonAmericanIndustry＂Nikewasratednumberoneinprofitabilityovertheprevious5years,aheadofallotherfirmsinallotherindustries.

ALETDOWNANDTHENREJUVENATION

Bythelatter1980s,however,ReebookhademergedasNike’sgreatestcompetitor,andthreateneditsdynasty.AgoodpartofthereasonforthiswasNike’sunderestimationofanopportunity.Consequently,itcamelateintothefast-growingmarketforshoeswornfortheaerobicdancingthatwassweepingthecountry,fueledbybest-sellingbooksbyJaneFondaandothers.ButReebokwastherewiththefirstathleticshoedesignedespeciallyforwomentouseforthisexercise.Between1986and1987,Nike’ssalesdropped18percent,withprofitssinkingover40percent.

TherechargeofNike,afterlettingitsguarddowntothewildlychargingReebokwasimpressive.Usuallywhenafrontrunnerlosesmomentum,thetrendisdifficulttoreverse.ButPhilKnightandNikewerenottobedenied.

Still,evenin1993,NikedidnotlookverymuchawinnerthoughithadwrestedmarketdominancefromReebok.Fromthehigh80sinFebruaryofthatyear,sharepricesplummetedtothemind-50s.Thereason?

Nike’ssaleswereuponly15percentandearningsjust11percent,nothingoutstandingforwhatinvestorsconsideredagrowthstock.SoWallStreetbeganquestioning:

Howmanypairsofsneakersdoestheworldneed?

（CriticshadonceassailedMcDonald’sunderthesamerationale:

Howmanyhamburgerscantheworldeat?

）

Knight’sresponsewasthattheNikemystiquecouldsellotherkindsofgoods:

outdoorfootwearfromsandalstohikingboots,apparellines,suchasuniforms,fortop-rankedcollegefootballandbasketballteams-frompantsandjerseystowarm-upjackets;evenpracticegearsuchassoccerballs.Wouldnotsuchproductsassociatedwithathletesbeeagerlysoughtbythegeneralpublic?

Couldanathleticshoecompanystillbeagrowthcompany?

Apparentlyso,throughwisediversificationwithinthelargerathleticgoodsindustry.

Inhisquesttoremainthedominantplayer,KnightrecalledwhathelearnedfromhisoldcoachandNikecofounder,BillBowerman:

＂Playbytherules,butbeferocious.＂

THECREATIONOFANIMAGE

Knighthadcometotherealizationthatshoeswerebecomingadisposableconsumergood,almostacommodity,withlittledifferenceinqualityamongshoemakers.Thechallengeforsuccesswouldcomefromtheabilitytotransformshoesintostatussymbols,withanewmodelforeveryseason.Thenifyoucancombineafashionimage,ofbeing＂in＂orbeing＂cool＂withanauraofentertainment,thiscanbeapowerfulappealtoimpressionableconsumers,especiallythoseunder30.

NowNikeintroducesnewmodelsforeveryseason,newbaseballshoesinthespring,newtennisshoesinthesummer,hikingshoesinthefall.Basketballandrunningshoes