Brand Awareness
Nike is a globally well-known and famous brand across the globe with having strategic promotions, advertisements and also sponsoring their own brand I many events and media channels. Nike products can be seen everywhere, from Olympics to normal sitcoms, commercials and other sporting events, at all local, national and international level. Its tag line “Just do it”, have taken the attention of the people and almost every individual is aware about its logo. Nike continuously promotes its brand by newsletter, commercials, sponsorships and billboards to create brand awareness. It also expand geographically in countries where it was not before, so that those people could also know about it (Guidance, 2013).
Brand Association
Nike is successful in achieving strong brand equity by completing all the pillars required for having brand equity. Strategic messages together with the quality items allowed and helped Nike in excelling in every dimensions. It is able to have successful brand association because of celebrity endorsement.it was done because of balance theory, which suggested that balancing the attitudes of customers will help in increasing sales. It endorsed many of the famous athlete to give the concept to consumers that such big celebrities have blind faith on Nike and so its followers should also have (Goudreau, 2017).
Brand Loyalty
Nike has strong team of loyal customers, who never switch it for any other competitive brand like Puma, Adidas etc. it is only because, its consumers have blind trust on its quality and Nike put its all efforts in never disappointing its customers. It work hard to retain its loyal customers and attract potential customers. These customers are strength of Nike, which help it in overcoming its threats. It is one of the main reason for gaining higher competitive advantage as compare t its rivals (Goudreau, 2017).
Brand Asset
Nike is offering 1000s of products in the category of sports shoes, apparel, accessories and many other categories. This help in gaining the attention of big athletes and also target ordinary sports player, who never compromises in sports quality. Its assets help in achieving brand loyalty and a god market position in the industry. Nike used it as the strategic branding approach for facing the challenges and threats of rivals. It is considered as a champion in the industry for developing and introducing new, unique design and quality product for its consumers (Nike, 2018).
Brand Element
Nike has laid great focus on all six major brand elements. It has targeted correct audience by fulfilling its promise for not compromising on quality. Nike is successful in making positive brand perception in the consumer mind, which is why they become loyal customers. It never compromises on its value and engage in accurate brand positioning. Its voice is loud and clear, which can be heard by millions of people across the globe (Domininquevanbennekom, 2017).Nike worked day and night for building strong brand equity in a competitive sports industry by properly using every element odd brand equity.
References
Domininquevanbennekom, 2017. How does Nike score on brand elements? [Online], Available at: https://dominiquevanbennekom.wordpress.com/2013/09/12/how-does-nike-score-on-brand-elements/, [Accessed on: 17th February, 2018].
Goudreau, E. 2017. How brand equity has kept Nike on top? [Online], Available at: https://medium.com/@emgoudre/how-brand-equity-has-kept-nike-on-top-3f4ee0814d60, [Accessed on: 17th February, 2018].
Guidance1, 2018. Nike, brand of brands. [Online], Available at: https://gavinsaul.wordpress.com/2013/09/15/nike-the-brand-of-brands-in-your-words-4/#respond, [Accessed on: 17th February, 2018].
Nike, 2018. About Us. [Online], Available at: https://www.nike.com/in/en_gb/?ref=https%253A%252F%252Fwww.google.com%252F, [Accessed on: 17th February, 2018].