Nikkei Strengths Weaknesses Nikkei is a worldwide established brand providing sports and fitness related products. They are well established and currently hold 31% market share for fitness related apparel and 46% of market share in all sports footwear. (Market Watch). Another strength for Nikkei would be there huge sponsorship deals with the world’s biggest sports teams and sports stars which hugely increases the awareness of the brand by promoting and advertising their brand. E. G. Manchester United, Roy Milord and Anymore Jar. N recent times.
The sponsorship and endorsements of all these huge sports teams and athletes comes at a huge cost which leaves them with a massive advertising bill of $909 Million in athlete endorsements and a total of $2. 75 Billion in “demand creation” in 2013. (Portland Business Journal) . Nikkei is hugely reliant on the footwear market which makes up the bulk of their sales which may leave them vulnerable in the future. (Fieriness) Opportunities Threats Nikkei has the opportunity to increase sales through their e-commerce site which is a arrest that is growing every day.
Nikkei currently has e-commerce sales of around $540 Million today which is expected to rise upwards of $2 Billion in years to come. (Value Line). A major opportunity for Nikkei would be growing markets such as China who have a huge population and a growing number of middle class citizens who would be ideal consumers for the Nikkei brand. Threats to Nikkei include competition such as Ideas in the clothing and footwear departments and Under Armor and the North Face in the sports clothing apartments.
The high prices of Nines goods may be a threat as consumers are now shopping around for the best deals. Objectives and Issues Although Nikkei is the world’s leading business in this industry it still has not established itself above the other company’s such as Ideas and Puma. The SOOT Analysis Of Nikkei By logistics increase their market share. With Nines growing e-commerce site brand awareness and market share are increasing and we expect to fulfill our objectives within the next years.
Marketing Strategy Nikkei will achieve these objectives by advertising at worldwide events such as the Rugby World Cup in 201 5 which is being held in England, the European football championships 2016 in France and the 2016 Olympic Games in ROI De Jeanine. TV ads and campaigns leading up to these events as well as sponsorships and endorsements of major teams and athletes participating in these events will also help Nikkei to achieve their goals in increasing brand awareness and market share.
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