MARK20100 Chapter Notes - Chapter 1: Under Armour, New Balance, Tiger Woods
Document Summary
The core marketing strategy of nike is that of a very high risk, with a high potential reward. Nike"s strategy is to hire popular professional athletes to endorse their brand in order to increase sales. The pros and rewards of this strategy come with how much people love the athletes that are spokespeople for nike. For example, michael jordan endorsing nike basketball shoes was extremely successful. Similarly, tiger woods allowed nike to break into golf equipment. With the large amount of sales that resulted from these endorsements, this strategy has also come with several cons and risks. Athletes of this caliber come with a very high price for an endorsement. Therefore, if a campaign is unsuccessful, a lot of money is lost. Additionally, nike is dependent on a positive popular opinion of their endorsers. If one of their spokespeople does something wrong in the eyes of the public, it may hurt nike"s sales.
