Nike

Nike is one of the most iconic names in American business.  Started as Blue Ribbon Sports in 1964 by Bill Bowerman and Phil Knight, the company was later named Nike in 1971 after the Greek goddess of victory (Nike, Inc., n.d.).  Known best for their shoes, Nike states on their website that they "create products, services and experiences for today's athlete while solving problems for the next generation."  Their mission statement is "Bringing inspiration and innovation to every athlete* in the world. (*If you have a body, you are an athlete.)" (NIKE, Inc., n.d.)  In their 52 year history the company has grown to be one of the most successful publicly traded companies in the country, having been on the Fortune 500 list for the last 22 years.  They bring in $30.601 billion in annual revenue and employ over 62,000 people worldwide (Nike, Inc., n.d.).

They have always been a very marketing oriented company, focusing their products, brand and messaging around the consumer.  In a 2015 article on BusinessInsider.com, they point out that the top three target markets Nike is most currently focused on is: women, young athletes and runners.  Following the "athleisure" trend in sport's fashion, women in their 20s and 30s are the primary target in this market segment.  Nike sponsors local leagues and clubs to draw in young athletes by wearing their products.  Also, all of the NFL teams currently wear Nike gear, making it attractive to young sports fans.  Going back to its roots, runners are a primary focus of their innovation efforts especially with their running app Nike+. (Lutz, 2015)  The company continues to grow and be an even more dominant force in the athletic apparel market by focusing in on its key demographics.  


References

Lutz, A. (2015, April 07). Nike is going after 3 kinds of customers. Retrieved July 07, 2016, from http://www.businessinsider.com/nike-is-going-after-3-kinds-of-customers-2015-4

Nike, Inc. (n.d.). Retrieved July 07, 2016, from https://en.wikipedia.org/wiki/Nike,_Inc.

NIKE, Inc. (n.d.). Retrieved July 7, 2016, from https://www.nike.com/