Most Popular Shoe Brand: Nike
Nike, originally known as Blue Ribbon Sports (BRS), was founded by University of Oregon track athlete Phil Knight and his coach Bill Bowerman in January 1964. The company initially operated as a distributor for Japanese shoe maker Onitsuka Tiger (now ASICS), making most sales at track meets out of Knight’s automobile.
The story of success started at the University of Oregon in the USA in 1962, where Bill Bowerman, a coach specialized in competitive sports, and one of his students, Phil Knight as a middle-distance runner, realized a risky idea about bringing low-priced, high-tech athletic shoes from Japan to the USA in order to sell them under their own brand. The goal was clear: dislodging German domination of the US athletic footwear industry and improving the athletes’ individual performance.
NIKE was based on a strategy in which the production costs were low and the products’ prices competitive but profitable. the production-costs are 10 percent or less of the price for which the good can be bought; the other 90 percent is due to the success of a perfect brand-marketing. So many people buy an expensive pair of sneakers from NIKE if they can get one for half of the price from an unknown manufacturer? The answer is hidden in the last component of the marketing-mix instrument – the promotion.
An American multinational corporation, Nike designs, manufactures and sells athletic footwear, apparel, equipment, and accessories. Founded in 1964 as ‘Blue Ribbon Sports’, the company was renamed as Nike in 1971. Apart from manufacturing sports equipment and related products, the company also runs retail stores under the name Niketown.