nike inc
Content
A PROJECT REPORT ON NIKE INC. BY AVINASH DUBEY B.F.T (2008 – 2009)
IN PARTIAL FULFILLMENT OF Bachelor of Foreign Trade UNIVERSITY OF PUNE
MITSOM College PUNE: 411038
1
CERTIFICATE This is to certify that Mr.AVINASH DUBEY of MAEER’S MITSOM College has successfully completed the project work titled “ NIKE INC.”in partial fulfillment of requirement for the award of Bachelor of foreign trade prescribed by the University of Pune. This project is the record of authentic work carried out during the academic year 2008 – 2009.
Brig. (Dr.) R.K.Bhatia Project Guide Principal
2
DECLARATION
I, Mr.AVINASH DUBEY hereby declare that this project is the record of authentic work carried out by me during the academic year 2008 – 2009 and has not been submitted to any other University or Institute towards the award of any degree.
(Avinash Dubey)
3
ACKNOWLEDGEMENT It’s a pleasure to present this report and while doing so I would like to convey my heartfelt gratitude to everyone who has contributed in making this report. I am extremely grateful to Prof. (Mss.) SMITA CHATURVEDI for their valuable help, personal attention and inspiration. They have been of great help and I thank them for their unstinted cooperation and unremitting efforts in providing me resourceful guidance ceaselessly. I would also like to thank my family and my friends for their support and help for making this project a success.
AVINASH DUBEY
4
ABSTRACT
The world is getting advanced day by day and people are growing within the scope of this aroma. Now a days, people are getting more conscious about their health. They are getting attracted towards sports and sports gear. The history of sport probably extends as far back as the existence of people as purposive beings. Sport has been a useful way for people to increase their mastery of nature and the environment.The entertainment aspect of sports, together with the spread of mass media and increased leisure time, has led to professionalism in sports.The entertainment aspect also means that sportsmen and women are often elevated to celebrity status.which ultimately led to professionalism in sportswear, equipments,accessories.
Nike is one of the leading producer of a wide array of sports gears. Nike Corporation (pronounced 'nye-kee') derives its name from Nike, the Greek goddess of victory. It is a leading American dealer of athletic apparels, shoes, and sports gear. Nike markets and sells its products under its own brand name ie Nike as well as Nike Pro, Nike Golf, Team Starter, Air Jordan, and other subsidiaries that include Bauer, Converse, Hurley International and Cole Haan. Nike remains the undisputed largest and most popular sportswear supplier of the world. The main objective on carrying out research on Nike Inc. sportsgear company is to study the responses and popularity of Nike products among people and to find out the position of Nike in the market. From the survey conducted, I can conclude that most of the people use and prefer Nike sportsgear because of its quality and durability but they are not satisfied by the variety of the products. So, variety of Nike products should be increased. Also,Nike has very well established itself as a distinct sports brand, since according to the survey conducted it was observed that people mostly relate to Nike through various sports teams and sports person endorsed by it.
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INDEX
Serial no.
1 2 3 4 a. b. c. d. e. f. g. h. i. 5 6 7 8 9 ABSTRACT
Topic
Page no.
5 7 13 15 16 18 20 22 23 24 32 35 37 38 41 43 44 45
THEORETICAL BACKGROUND OF THE TOPIC OBJECTIVES OF THE REPORT PROFILE OF THE ORGANISATION NIKE INC. ORIGIN AND HISTORY PRODUCTS MANUFACTURING MARKETING STRATEGY SPONSERSHIPS AWARDS AND RECOGNITION BRANDS SHOP CUSTOMER SERVICES PROJECT DESIGN LIMITATIONS OF THE PROJECT SUGGESTIONS CONCLUSION BIBLIOGRAPHY
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Theoretical Background of the Topic
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RESEARCH
MEANING OF RESEARCH: -
Research in common parlance refers to a search for knowledge. Research, in simple words, is an endeavour to discover answers to problems (intellectual and practical) through the application of scientific method to the knowable universe.
Research is essentially a systematic enquiry seeking facts through objective verifiable methods in order to discover the relationship among them and to deduce from them broad principles or laws. It is really a method of critical thinking. Thus, the term ‘research’ means experimentation or examination having as its aim the revision of accepted conclusions, in the light of newly discovered facts.
Definition of Research:-
According to Clifford Woody, the research is defined as “the process which includes defining and re-defining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and reaching conclusions and, at last, carefully testing the conclusions to determine whether they fit the formulating hypothesis.”
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According to Clover and Balsely, the research is defined as “the process of systematically obtaining accurate answers to significant and pertinent questions by the use of the scientific method gathering and interpreting information.”
According to Kerlinger, the research is defined as “a systematic, controlled, commercial and critical investigation of hypothetical propositions about the presumed relations among natural phenomenon.”
IMPORTANCE OF RESEARCH
Research as a subject such as economics and business may lead to a new idea of some degree or proof or other. Alternatively, in addition, research in a subject may lead to any of the following.
1) Idea is known as new interpretation.
2) Analysis and observation on fresh known new data.
3) Different subjects or ideas between correlations established or oriented to another subject, viewing the subject from a new perspective.
4) A historical or developmental or evolutionary treatment of the subject.
5) An evaluation of an existing theory, proposition or practice.
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6) Proposition or practice which has been found inadequate for an existing theory is a substitute for promoting or propounding.
7) Application of a known idea or methodology from another source for the development of the subject.
8) Presenting known ideas in a new setting.
Research is important for a basic knowledge of the theory of discipline and the methods of applying the theory for finding solution to a problem. It is a necessary equipment on the part of research-worker. Research is to be done on the basis of the findings of the research-worker’s creative ability. However, there are several environmental factors which can enhance productivity in his research work. One such important factor is the facility available to the research-worker to interact to an adequate extent with relevant information to the subject of his research.
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SAMPLING
Meaning of Sampling: -
The statistical research is of two kinds. One deals with the computing of the sum of all units and is known as census survey. When a single unit is studied for survey, it is known as sample survey. In the sample technique, few units are taken to represent the whole field and the findings of these sample units are applied to the whole field.
Definition of Sampling: -
According to Sir Bogrdus, “Sampling is the selection of certain percentage of group of items according to a predetermined plan.”
According to Sir Mildred Parton, “Sampling method is the process or method of drawing a definite number of individuals, cases or observations from a particular universe, selecting past of a total group of investigation.”
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SPORTS GEAR
The history of sport probably extends as far back as the existence of people as purposive beings. Sport has been a useful way for people to increase their mastery of nature and the environment. The history of sport can teach us a great deal about social changes and about the nature of sport itself. Sport seems to involve basic human skills being developed and exercised for their own sake, in parallel with being exercised for their usefulness. It also shows how society has changed its beliefs and therefore there are changes in the rules. Of course, as we go further back in history the dwindling evidence makes the the theories of the origins and purposes of sport difficult to support. Nonetheless, its importance in human history is undeniable. The entertainment aspect of sports, together with the spread of mass media and increased leisure time, has led to professionalism in sports.Thus,many companies and brands started manufacturing sportsgear which includes sports-shoes,apparels,accessories and equipments.
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OBJECTIVES OF THE REPORT
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OBJECTIVES
1) To know the awareness among the people about Nike INC. sportsgear company.
2) To study the responses and popularity of Nike products among people. 3) To find out what factor induces the people to buy Nike products. 4) To find out the position of Nike Inc.in the market in comparison with other sportsgear brands. 5) To know overall satisfaction of users about the products. 6) To work on the suggestion especially negative, if any.
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Profile of the Organization
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Nike, Inc.
Type Public (NYSE: NKE) Founded 1972[1] William J. "Bill" Bowerman Founder Philip H. Knight Headquarters near Beaverton, Oregon, United States Area served Worldwide Philip H. Knight Key people
(Chairman)
Mark Parker
(CEO) & (President)
Industry
Sportswear Sports Equipment Athletic shoes Apparel Sports equipment Accessories US$ 33.99 Billion (2008) ▲ US$ 16.325 Billion (2007) ▲ US$ 2.199 Billion (2007) ▲ US$ 1.491 Billion (2007) ▲ US$ 10.688 Billion (2007) ▲ US$ 7.025 Billion (2007) 30,200 (2008)
Products
Market cap Revenue Operating income Net income Total assets Total equity Employees
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Bill Bowerman, founder of NIKE.
Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the United States. The company is headquartered in the Portland metropolitan area of Oregon, near Beaverton. It is the world's leading supplier of athletic shoes and apparel and a major manufacturer of sports equipment with revenue in excess of $16 billion USD in 2007. As of 2008, it employed over 30,000 people world-wide. Nike and Precision Castparts are the only Fortune 500 companies headquartered in the state of Oregon. The company was founded in 1962 as Blue Ribbon Sports by Bill Bowerman and Philip Knight, and officially became Nike, Inc. in 1978. The company takes its name from Nike (Greek Νίκη ), the Greek goddess of victory. Nike markets its products under its own brand as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Skateboarding, Team Starter, and subsidiaries including Cole Haan, Hurley International, Umbro and Converse. Nike also owned Bauer Hockey (later renamed Nike Bauer) between 1995 and 2008.[3] In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high profile athletes and sports teams around the world, with the highly recognized trademarks of "Just do it" and the Swoosh logo.
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ORIGINS AND HISTORY
Bowerman's Waffle Racer Nike, originally known as Blue Ribbon Sports, was founded by University of Oregon track athlete Philip Knight and his coach Bill Bowerman in January 1962. The company initially operated as a distributor for Japanese shoe maker Onitsuka Tiger, making most sales at track meets out of Knight's car. The company's profits grew quickly, and in 1966, BRS opened its first retail store, located on Pico Boulevard in Santa Monica, California. By 1971, the relationship between BRS and Onitsuka Tiger was nearing an end. BRS prepared to launch its own line of footwear, which would bear the newly designed Swoosh. The first shoe to carry this design that was sold to the public was a football shoe named "Nike", which was released in the summer of 1971. In February 1972, BRS introduced its first line of Nike shoes, with the name Nike derived from the Greek goddess of victory. In 1978, BRS, Inc. officially renamed itself to Nike, Inc. Beginning with Ilie Nastase, the first professional athlete to sign with BRS/Nike, the sponsorship of athletes became a key marketing tool for the rapidly growing company. The company's first self-designed product was based on Bowerman's "waffle" design. One day Bowerman randomly put liquid latex into his wife's Waffle maker. The experiment turned out with a silid piece of latex rubber with a design of a waffle, and a broken waffle maker. Bowerman showed this product to Knight. Knight thought it was a good idea because the rubber would help create traction for runners etc.
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By 1980, Nike had reached a 50% market share in the United States athletic shoe market, and the company went public in December of that year. Its growth was due largely to 'word-of-foot' advertising (to quote a Nike print ad from the late 1970s), rather than television ads. Nike's first national television commercials ran in October 1982 during the broadcast of the New York Marathon. The ads were created by Portland-based advertising agency Wieden+Kennedy, which had formed several months earlier in April 1982. Together, Nike and Wieden+Kennedy have created many indelible print and television ads and the agency continues to be Nike's primary today. It was agency co-founder Dan Wieden who coined the now-famous slogan "Just Do It" for a 1988 Nike ad campaign, which was chosen by Advertising Age as one of the top five ad slogans of the 20th Century, and the campaign has been enshrined in the Smithsonian Institution. Throughout the 1980s, Nike expanded its product line to include many other sports and regions throughout the world.
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PRODUCTS
NIKE ACCESSORIES AND EQUIPMENTS
NIKE SHOES
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PRODUCTS
Nike produces a wide range of sports equipment. Their first products were track running shoes. They currently also make shoes, jerseys, shorts, baselayers etc. for a wide range of sports including track & field, baseball, ice hockey, tennis, Association football, lacrosse, basketball and cricket. The most recent additions to their line are the Nike 6.0 and Nike SB shoes, designed for skateboarding. Nike has recently introduced cricket shoes, called Air Zoom Yorker, designed to be 30% lighter than their competitors'. In 2008, Nike introduced the Air Jordan XX3, a high performance basketball shoe designed with the environment in mind. Nike positions its products in such a way as to try to appeal to a "youthful....materialistic crowd". It is positioned as a premium performance brand. However, it also engineers shoes and apparel for discount stores like Wal-Mart under the Starter brand. Nike sells an assortment of products, including shoes and apparel for sports activities like association football, basketball, running, combat sports, tennis, American football, athletics, golf and cross training for men, women, and children. Nike also sells shoes for outdoor activities such as tennis, golf, skateboarding, association football, baseball, American football, cycling, volleyball, wrestling, cheerleading, aquatic activities, auto racing and other athletic and recreational uses. Nike is well known and popular in Youth culture, Chav Culture and Hip hop culture as they supply urban fashion clothing. Nike recently teamed up with Apple Inc. to produce the Nike+ product which monitors a runner's performance via a radio device in the shoe which links to the iPod nano. While the product generates useful statistics, it has been criticized by researchers who were able to identify users' RFID devices from 60 feet (18 m) away using small, concealable intelligence motes in a wireless sensor network.[11][12] In 2004, they launched the SPARQ Training Program/Division. It is currently the premier training program in the U.S. In the video game Gran Turismo 4 there is a car by Nike called the NikeOne 2022, designed by Phil Frank.
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MANUFACTURING
Nike has more than 700 shops around the world and offices located in 45 countries outside the United States. Most of the factories are located in Asia, including Indonesia, China, Taiwan, India, Thailand, Vietnam, Pakistan, Philippines,and Malaysia.[15] Nike is hesitant to disclose information about the contract companies it works with. However, due to harsh criticism from some organizations like CorpWatch, Nike has disclosed information about its contract factories in its Corporate Governance Report.
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MARKETING STRATEGY
CLUB KIT FOR ARSENAL SPONSERED BY NIKE
Nike's marketing strategy is an important component of the company's success. Nike is positioned as a premium-brand, selling well-designed and expensive products. Nike lures customers with a marketing strategy centering around a brand image which is attained by distinctive logo and the advertising slogan: "Just do it". Nike promotes its products by sponsorship agreements with celebrity athletes, professional teams and college athletic team
SPONSORSHIPS
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Christiano Ronaldo in the Manchester kit sponsered by Nike
Nike has signed top athletes in many different professional sports to endorsement deals in order to further promote their products. Nike's first professional athlete endorser was Romanian tennis player Ilie Năstase, and the company's first track endorser was distance running legend Steve Prefontaine. Prefontaine was the prized pupil of the company's co-founder Bill Bowerman while he coached at the University of Oregon. Today, the Steve Prefontaine Building is named in his honor at Nike's corporate headquarters.
NIKE BASKETBALL
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GARY PAYTON OFFICIAL NIKE SPONSER
Besides Prefontaine, Nike has sponsored many other successful track & field athletes over the years such as Carl Lewis, Jackie Joyner-Kersee and Sebastian Coe. However, it was the signing of basketball player Michael Jordan in 1984, with his subsequent promotion of Nike over the course of his storied career with Spike Lee as Mars Blackmon, that proved to be one of the biggest boosts to Nike's publicity and sales.
NIKE TENNIS
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MARIA SHARAPOVA THE NUMBER ONE CEDED TENNIS STAR
One of the most lucrative sports for Nike is tennis. During the past 20 years especially, Nike has been one of the major clothing/footwear sponsors for leading tennis players. Some of the more successful tennis players currently or formerly sponsored by Nike include: James Blake, Jim Courier, Roger Federer, Lleyton Hewitt, Andre Agassi, Rafael Nadal, Pete Sampras, Marion Bartoli, Lindsay Davenport, Daniela Hantuchova, Mary Pierce, Maria Sharapova, Serena Williams.
NIKE TENNIS FOR MEN
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ROGER FEDERER(LEFT) AND RAFEL NADAL(RIGHT) THE 1ST AND 2ND CEDED PLAYERS
One of the most lucrative sports for Nike is tennis. During the past 20 years especially, Nike has been one of the major clothing/footwear sponsors for leading tennis players.
NIKE TENNIS FOR WOMEN
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THE LEADING TENNIS STARS ALL ENDORSING NIKE
NIKE CRICKET
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INDIAN CRICKET TEAM IN OFFICIAL KIT SPONSERED BY NIKE
Nike is also the official kit sponsor for the Indian cricket team for 5 years, from 2006 to 2010. Nike was awarded the contract for US$43 Million.
NIKE FOOTBALL
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LEADING FOOTBALL CLUB MANCHESTER UNITED IN TEAM KIT SPONSORED BY NIKE
Nike also sponsors some of the leading clubs in world football, such as Arsenal, Manchester United, Barcelona, Valencia, Inter Milan and Juventus.
NIKE GOLF
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THE NUMBER ONE GOLF PLAYER OF THE WORLD TIGER WOODS SPONSORED BY NIKE
Having diversified into golf, Nike sponsors several of the worlds top players, including Tiger Woods, Trevor Immelman and Paul Casey. NIKE Golf is passionately dedicated to honoring and respecting the traditions and heritage of the game, and to providing committed golfers with the absolute best equipment.
AWARDS & RECOGNITION
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Featured Award Nike Named to FORTUNE's 2008 "100 Best Companies To Work For" List Nike has been recognized three times (2006, 2007, 2008) by FORTUNE magazine on its "100 Best Companies To Work For" list.
Nike Named One of the World’s Top Sustainable Stocks Nike claimed the only spot in our industry for the 2007 Sustainable Business list of the World’s Top Sustainable Stocks. In their release from July 18th, Sustainable Business and KLD called out Nike’s leadership in the consumer products area, saying: “It's not easy to ‘just do it’ when your manufacturing is outsourced to subcontractors, but Nike is showing it's possible. Its very impressive sustainability report drills down to the finest details of the company's operations and products. It is transforming its products by using green design principles, rooting out waste and toxics, and planning for carbon neutrality by 2015.”
Nike a 2007 best place to work for GLBT equality – 2007 Nike was one of 142 American companies cited as a 2007 best place to work for gay, lesbian, bisexual and transgender (GLBT) employees by the Human Rights Campaign
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Foundation. Read their press release.
Human Rights Campaign – 2002, 2003, 2004 Nike scored 100% on HRC’s Corporate Equality Index for workplace practices
National Congress of American Indians Leadership Awards – 2002
Nike 5K for Kids Recognized As Youth Program of the Year On February 12, 2008, Running USA and YouthRunner.com named the Nike 5K for Kids Series the Youth Program Contributor of the Year. USATF Names Nike Women's Marathon Charitable Race of the Year for 2006 Hong Kong Caring Company Award – 2003, 2004 Awarded by The Hong Kong Council of Social Services for Nike’s Slam Dunk Basketball Challenge supporting Save the Children Portland Trailblazers’Heart of the Community Award – 2004 National Head Start Association Award – April 2004 Honored for commitment to Head Start and support of early
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childhood education Spirit of Portland Award – December 2003 Oregon Commission for the Blind's Private Sector Employer of the Year – December 2003 Australian Prime Minister’s Community Business Partnership – 2003 Awarded “Judges Encouragement Award” for Nike’s ARMTour Partnership Oregon Food Bank – 2003 Received “Stone Soup” Award for volunteer matching program, food donations and support of Arnie Gardner, who serves on the OFB board
NIKE BRANDS
Cole Haan Cole Haan, headquartered in Yarmouth, Maine, designs and distributes dress and casual footwear, apparel, and accessories for men and women under the brand names Cole Haan® and Bragano®. Cole Haan operates more than 100 retail locations throughout the United States, Canada and Japan
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Hurley International LLC Headquartered in Costa Mesa, California, Hurley International LLC designs and distributes a line of action sports apparel for surfing, skateboarding and snowboarding, and youth lifestyle apparel and footwear under the Hurley brand name.
NIKE Golf Located at NIKE’s World Headquarters in Beaverton, Oregon, NIKE Golf designs and markets golf equipment, apparel, balls, footwear, bags and accessories worldwide. NIKE Golf is passionately dedicated to honoring and respecting the traditions and heritage of the game, and to providing committed golfers with the absolute best equipment
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Converse Inc.
Converse Inc., based in N. Andover, Massachusetts, is a wholly owned subsidiary of Nike, Inc. Established in 1908, the Converse brand has built a reputation as “America’s Original Sports Company”™ and has been associated with a rich heritage of legendary shoes such as the Chuck Taylor® All Star® shoe, the Jack Purcell shoe and the One Star shoe. Today, Converse offers a diverse portfolio including premium lifestyle men's and women's footwear and apparel. Converse product is sold globally by retailers in over 160 countries and through 25 company-owned retail locations in the U.S
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SHOP & CUSTOMER SERVICE INSPIRING ATHLETES AND BUILDING RELATIONSHIPS
The Nike mission: To bring inspiration and innovation to every athlete* in the world.The asterisk is a quote from Bill Bonikerman. Who is he? Legendary track & field coach at the University of Oregon, a teacher who shoniked athletes the secrets of achievement. Co-founder of Nike.
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PROJECT DESIGN
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Data Collection method
I have used both the methods; Primary and Secondary methods for the collection of the data. In primary methods I have obtained Questionnaires from Nike users as well as non users. And on the other hand I have approached and gathered data from different websites (internet), brochures and magazines. In the scope of collection and gathering of data, I have approached different sites in internet and magazines. 1) Primary Data Collection method: In this method of data collection, I have gathered data directly from sportgear users, with the help of Questionnaires. I have analyzed and interpreted the results of individual as well as whole in general.
2) Secondary data collection method:
According to this method I have collected data from different sources of information, I accessed internet, which really helped me out to gather a large portion of my data regarding the Nike Inc. Internet was the main source for me to get secondary data;
I have approached General magazines, brochures and television information for secondary data. I have used the following sources for secondary type of data. Internet: Through internet I have visited the official sites of Nike Inc., www.nike.com, apart from this the main source of information I have got is www.google.com, different search engines such as www.wikipedia.org, www.answer.com and so many others like www.ask.com. 39
Magazines: I read different magazines for information about the Nike Inc., demand analysis and so more. It helped me to get a general idea about the marketing and advertisement strategies. Television: With the help of TV I got to know about the latest Nike advertisements and sports persons, teams and events endorsed by Nike, this in turn helped me to know the efficiency of the marketing and advertisement approach of Nike Inc. The sources for data collection will be mentioned in bibliography in the later part of the research report.
Data Sampling
Data sampling has helped me in generalizing my results to the population. 97% of the population is user of Nike products. It was very easy for me to approach my questionnaires to them. The sample size of my research report is 40. Though the population of Nike users was in large number but I had to complete my project within the limit and scope of time and expenditure. As sportsgear is used widely in day to day life by everybody so the feedback could be interpreted into general findings. It would be time consuming and expensive, if I had selected a huge sample size therefore I considered the selected sample size for this research report.
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LIMITATIONS & SUGGESTIONS OF THE REPORT
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LIMITATIONS
1. Size of the sample was very small. 2. As the sample size is small, the findings could not be generalized to the whole population. 3. Time factor was the major limitation. 4. Questionnaires are filled within a small time span which reduces the quality of the responses given by the people. 5. The great importance is given to the quantity of questionnaire to be filled instead of the quality. 6. The responses given by the respondent may not be completely reliable. 7. Respondents may not take the survey seriously and the questions may not be answered accordingly.
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SUGGESTION
• I think that we should use nike brands because they are more
attractive in compare to other brands like addidas,puma,reebok. • Nike products are more popular among the new generation and I think that nike should give certain discounts. • • Should also provide with better after sale services which is absent They should also launch certain range of products which a average person can purchase. • They should launch some kids ware as there are very few product available in the stores.
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CONCLUSION
From the analysis done, the following points can be concluded:• Nike is the most preferred sports brand amongst other brands such as Adidas, Puma, Reebok. • • Shoes of Nike are the most popularly known and used product. Television serves to be the most effective means of promotion for nike. • • • • Nike products are generally used on the regular basis. The quality of nike products is satisfactory. Pricing of nike product was observed to be of a moderate nature. Nike has created a niche for itself in sportswear since various sport teams, sportspersons etc are endorsed by nike. Tennis stars like roger federer, maria sharapova are brand ambassadors of nike which shows that nike is preferred and supported by personalities/celebrities as well.
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BIBLIOGRAPHY
Books:-
1) Kothari C.S., Research Methodology – Methods & Techniques, Second Revised Edition (Reprint), 2007
2) Prof. Dr. Mahesh A. Kulkarni, Research Methodology and Project Work, Second Edition, August 2007
Websites:-
1) http://www.google.com/
2) http://www.nike.com/ 3) http://www.ask.com/ 4) http://www.wikipedia.org/ 5 http://www.answer.com/ 6) http://www.nikebiz.com/ 7) http://www.nikeid.com/
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IN PARTIAL FULFILLMENT OF Bachelor of Foreign Trade UNIVERSITY OF PUNE
MITSOM College PUNE: 411038
1
CERTIFICATE This is to certify that Mr.AVINASH DUBEY of MAEER’S MITSOM College has successfully completed the project work titled “ NIKE INC.”in partial fulfillment of requirement for the award of Bachelor of foreign trade prescribed by the University of Pune. This project is the record of authentic work carried out during the academic year 2008 – 2009.
Brig. (Dr.) R.K.Bhatia Project Guide Principal
2
DECLARATION
I, Mr.AVINASH DUBEY hereby declare that this project is the record of authentic work carried out by me during the academic year 2008 – 2009 and has not been submitted to any other University or Institute towards the award of any degree.
(Avinash Dubey)
3
ACKNOWLEDGEMENT It’s a pleasure to present this report and while doing so I would like to convey my heartfelt gratitude to everyone who has contributed in making this report. I am extremely grateful to Prof. (Mss.) SMITA CHATURVEDI for their valuable help, personal attention and inspiration. They have been of great help and I thank them for their unstinted cooperation and unremitting efforts in providing me resourceful guidance ceaselessly. I would also like to thank my family and my friends for their support and help for making this project a success.
AVINASH DUBEY
4
ABSTRACT
The world is getting advanced day by day and people are growing within the scope of this aroma. Now a days, people are getting more conscious about their health. They are getting attracted towards sports and sports gear. The history of sport probably extends as far back as the existence of people as purposive beings. Sport has been a useful way for people to increase their mastery of nature and the environment.The entertainment aspect of sports, together with the spread of mass media and increased leisure time, has led to professionalism in sports.The entertainment aspect also means that sportsmen and women are often elevated to celebrity status.which ultimately led to professionalism in sportswear, equipments,accessories.
Nike is one of the leading producer of a wide array of sports gears. Nike Corporation (pronounced 'nye-kee') derives its name from Nike, the Greek goddess of victory. It is a leading American dealer of athletic apparels, shoes, and sports gear. Nike markets and sells its products under its own brand name ie Nike as well as Nike Pro, Nike Golf, Team Starter, Air Jordan, and other subsidiaries that include Bauer, Converse, Hurley International and Cole Haan. Nike remains the undisputed largest and most popular sportswear supplier of the world. The main objective on carrying out research on Nike Inc. sportsgear company is to study the responses and popularity of Nike products among people and to find out the position of Nike in the market. From the survey conducted, I can conclude that most of the people use and prefer Nike sportsgear because of its quality and durability but they are not satisfied by the variety of the products. So, variety of Nike products should be increased. Also,Nike has very well established itself as a distinct sports brand, since according to the survey conducted it was observed that people mostly relate to Nike through various sports teams and sports person endorsed by it.
5
INDEX
Serial no.
1 2 3 4 a. b. c. d. e. f. g. h. i. 5 6 7 8 9 ABSTRACT
Topic
Page no.
5 7 13 15 16 18 20 22 23 24 32 35 37 38 41 43 44 45
THEORETICAL BACKGROUND OF THE TOPIC OBJECTIVES OF THE REPORT PROFILE OF THE ORGANISATION NIKE INC. ORIGIN AND HISTORY PRODUCTS MANUFACTURING MARKETING STRATEGY SPONSERSHIPS AWARDS AND RECOGNITION BRANDS SHOP CUSTOMER SERVICES PROJECT DESIGN LIMITATIONS OF THE PROJECT SUGGESTIONS CONCLUSION BIBLIOGRAPHY
6
Theoretical Background of the Topic
7
RESEARCH
MEANING OF RESEARCH: -
Research in common parlance refers to a search for knowledge. Research, in simple words, is an endeavour to discover answers to problems (intellectual and practical) through the application of scientific method to the knowable universe.
Research is essentially a systematic enquiry seeking facts through objective verifiable methods in order to discover the relationship among them and to deduce from them broad principles or laws. It is really a method of critical thinking. Thus, the term ‘research’ means experimentation or examination having as its aim the revision of accepted conclusions, in the light of newly discovered facts.
Definition of Research:-
According to Clifford Woody, the research is defined as “the process which includes defining and re-defining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and reaching conclusions and, at last, carefully testing the conclusions to determine whether they fit the formulating hypothesis.”
8
According to Clover and Balsely, the research is defined as “the process of systematically obtaining accurate answers to significant and pertinent questions by the use of the scientific method gathering and interpreting information.”
According to Kerlinger, the research is defined as “a systematic, controlled, commercial and critical investigation of hypothetical propositions about the presumed relations among natural phenomenon.”
IMPORTANCE OF RESEARCH
Research as a subject such as economics and business may lead to a new idea of some degree or proof or other. Alternatively, in addition, research in a subject may lead to any of the following.
1) Idea is known as new interpretation.
2) Analysis and observation on fresh known new data.
3) Different subjects or ideas between correlations established or oriented to another subject, viewing the subject from a new perspective.
4) A historical or developmental or evolutionary treatment of the subject.
5) An evaluation of an existing theory, proposition or practice.
9
6) Proposition or practice which has been found inadequate for an existing theory is a substitute for promoting or propounding.
7) Application of a known idea or methodology from another source for the development of the subject.
8) Presenting known ideas in a new setting.
Research is important for a basic knowledge of the theory of discipline and the methods of applying the theory for finding solution to a problem. It is a necessary equipment on the part of research-worker. Research is to be done on the basis of the findings of the research-worker’s creative ability. However, there are several environmental factors which can enhance productivity in his research work. One such important factor is the facility available to the research-worker to interact to an adequate extent with relevant information to the subject of his research.
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SAMPLING
Meaning of Sampling: -
The statistical research is of two kinds. One deals with the computing of the sum of all units and is known as census survey. When a single unit is studied for survey, it is known as sample survey. In the sample technique, few units are taken to represent the whole field and the findings of these sample units are applied to the whole field.
Definition of Sampling: -
According to Sir Bogrdus, “Sampling is the selection of certain percentage of group of items according to a predetermined plan.”
According to Sir Mildred Parton, “Sampling method is the process or method of drawing a definite number of individuals, cases or observations from a particular universe, selecting past of a total group of investigation.”
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SPORTS GEAR
The history of sport probably extends as far back as the existence of people as purposive beings. Sport has been a useful way for people to increase their mastery of nature and the environment. The history of sport can teach us a great deal about social changes and about the nature of sport itself. Sport seems to involve basic human skills being developed and exercised for their own sake, in parallel with being exercised for their usefulness. It also shows how society has changed its beliefs and therefore there are changes in the rules. Of course, as we go further back in history the dwindling evidence makes the the theories of the origins and purposes of sport difficult to support. Nonetheless, its importance in human history is undeniable. The entertainment aspect of sports, together with the spread of mass media and increased leisure time, has led to professionalism in sports.Thus,many companies and brands started manufacturing sportsgear which includes sports-shoes,apparels,accessories and equipments.
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OBJECTIVES OF THE REPORT
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OBJECTIVES
1) To know the awareness among the people about Nike INC. sportsgear company.
2) To study the responses and popularity of Nike products among people. 3) To find out what factor induces the people to buy Nike products. 4) To find out the position of Nike Inc.in the market in comparison with other sportsgear brands. 5) To know overall satisfaction of users about the products. 6) To work on the suggestion especially negative, if any.
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Profile of the Organization
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Nike, Inc.
Type Public (NYSE: NKE) Founded 1972[1] William J. "Bill" Bowerman Founder Philip H. Knight Headquarters near Beaverton, Oregon, United States Area served Worldwide Philip H. Knight Key people
(Chairman)
Mark Parker
(CEO) & (President)
Industry
Sportswear Sports Equipment Athletic shoes Apparel Sports equipment Accessories US$ 33.99 Billion (2008) ▲ US$ 16.325 Billion (2007) ▲ US$ 2.199 Billion (2007) ▲ US$ 1.491 Billion (2007) ▲ US$ 10.688 Billion (2007) ▲ US$ 7.025 Billion (2007) 30,200 (2008)
Products
Market cap Revenue Operating income Net income Total assets Total equity Employees
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Bill Bowerman, founder of NIKE.
Nike, Inc. is a major publicly traded sportswear and equipment supplier based in the United States. The company is headquartered in the Portland metropolitan area of Oregon, near Beaverton. It is the world's leading supplier of athletic shoes and apparel and a major manufacturer of sports equipment with revenue in excess of $16 billion USD in 2007. As of 2008, it employed over 30,000 people world-wide. Nike and Precision Castparts are the only Fortune 500 companies headquartered in the state of Oregon. The company was founded in 1962 as Blue Ribbon Sports by Bill Bowerman and Philip Knight, and officially became Nike, Inc. in 1978. The company takes its name from Nike (Greek Νίκη ), the Greek goddess of victory. Nike markets its products under its own brand as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Skateboarding, Team Starter, and subsidiaries including Cole Haan, Hurley International, Umbro and Converse. Nike also owned Bauer Hockey (later renamed Nike Bauer) between 1995 and 2008.[3] In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high profile athletes and sports teams around the world, with the highly recognized trademarks of "Just do it" and the Swoosh logo.
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ORIGINS AND HISTORY
Bowerman's Waffle Racer Nike, originally known as Blue Ribbon Sports, was founded by University of Oregon track athlete Philip Knight and his coach Bill Bowerman in January 1962. The company initially operated as a distributor for Japanese shoe maker Onitsuka Tiger, making most sales at track meets out of Knight's car. The company's profits grew quickly, and in 1966, BRS opened its first retail store, located on Pico Boulevard in Santa Monica, California. By 1971, the relationship between BRS and Onitsuka Tiger was nearing an end. BRS prepared to launch its own line of footwear, which would bear the newly designed Swoosh. The first shoe to carry this design that was sold to the public was a football shoe named "Nike", which was released in the summer of 1971. In February 1972, BRS introduced its first line of Nike shoes, with the name Nike derived from the Greek goddess of victory. In 1978, BRS, Inc. officially renamed itself to Nike, Inc. Beginning with Ilie Nastase, the first professional athlete to sign with BRS/Nike, the sponsorship of athletes became a key marketing tool for the rapidly growing company. The company's first self-designed product was based on Bowerman's "waffle" design. One day Bowerman randomly put liquid latex into his wife's Waffle maker. The experiment turned out with a silid piece of latex rubber with a design of a waffle, and a broken waffle maker. Bowerman showed this product to Knight. Knight thought it was a good idea because the rubber would help create traction for runners etc.
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By 1980, Nike had reached a 50% market share in the United States athletic shoe market, and the company went public in December of that year. Its growth was due largely to 'word-of-foot' advertising (to quote a Nike print ad from the late 1970s), rather than television ads. Nike's first national television commercials ran in October 1982 during the broadcast of the New York Marathon. The ads were created by Portland-based advertising agency Wieden+Kennedy, which had formed several months earlier in April 1982. Together, Nike and Wieden+Kennedy have created many indelible print and television ads and the agency continues to be Nike's primary today. It was agency co-founder Dan Wieden who coined the now-famous slogan "Just Do It" for a 1988 Nike ad campaign, which was chosen by Advertising Age as one of the top five ad slogans of the 20th Century, and the campaign has been enshrined in the Smithsonian Institution. Throughout the 1980s, Nike expanded its product line to include many other sports and regions throughout the world.
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PRODUCTS
NIKE ACCESSORIES AND EQUIPMENTS
NIKE SHOES
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PRODUCTS
Nike produces a wide range of sports equipment. Their first products were track running shoes. They currently also make shoes, jerseys, shorts, baselayers etc. for a wide range of sports including track & field, baseball, ice hockey, tennis, Association football, lacrosse, basketball and cricket. The most recent additions to their line are the Nike 6.0 and Nike SB shoes, designed for skateboarding. Nike has recently introduced cricket shoes, called Air Zoom Yorker, designed to be 30% lighter than their competitors'. In 2008, Nike introduced the Air Jordan XX3, a high performance basketball shoe designed with the environment in mind. Nike positions its products in such a way as to try to appeal to a "youthful....materialistic crowd". It is positioned as a premium performance brand. However, it also engineers shoes and apparel for discount stores like Wal-Mart under the Starter brand. Nike sells an assortment of products, including shoes and apparel for sports activities like association football, basketball, running, combat sports, tennis, American football, athletics, golf and cross training for men, women, and children. Nike also sells shoes for outdoor activities such as tennis, golf, skateboarding, association football, baseball, American football, cycling, volleyball, wrestling, cheerleading, aquatic activities, auto racing and other athletic and recreational uses. Nike is well known and popular in Youth culture, Chav Culture and Hip hop culture as they supply urban fashion clothing. Nike recently teamed up with Apple Inc. to produce the Nike+ product which monitors a runner's performance via a radio device in the shoe which links to the iPod nano. While the product generates useful statistics, it has been criticized by researchers who were able to identify users' RFID devices from 60 feet (18 m) away using small, concealable intelligence motes in a wireless sensor network.[11][12] In 2004, they launched the SPARQ Training Program/Division. It is currently the premier training program in the U.S. In the video game Gran Turismo 4 there is a car by Nike called the NikeOne 2022, designed by Phil Frank.
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MANUFACTURING
Nike has more than 700 shops around the world and offices located in 45 countries outside the United States. Most of the factories are located in Asia, including Indonesia, China, Taiwan, India, Thailand, Vietnam, Pakistan, Philippines,and Malaysia.[15] Nike is hesitant to disclose information about the contract companies it works with. However, due to harsh criticism from some organizations like CorpWatch, Nike has disclosed information about its contract factories in its Corporate Governance Report.
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MARKETING STRATEGY
CLUB KIT FOR ARSENAL SPONSERED BY NIKE
Nike's marketing strategy is an important component of the company's success. Nike is positioned as a premium-brand, selling well-designed and expensive products. Nike lures customers with a marketing strategy centering around a brand image which is attained by distinctive logo and the advertising slogan: "Just do it". Nike promotes its products by sponsorship agreements with celebrity athletes, professional teams and college athletic team
SPONSORSHIPS
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Christiano Ronaldo in the Manchester kit sponsered by Nike
Nike has signed top athletes in many different professional sports to endorsement deals in order to further promote their products. Nike's first professional athlete endorser was Romanian tennis player Ilie Năstase, and the company's first track endorser was distance running legend Steve Prefontaine. Prefontaine was the prized pupil of the company's co-founder Bill Bowerman while he coached at the University of Oregon. Today, the Steve Prefontaine Building is named in his honor at Nike's corporate headquarters.
NIKE BASKETBALL
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GARY PAYTON OFFICIAL NIKE SPONSER
Besides Prefontaine, Nike has sponsored many other successful track & field athletes over the years such as Carl Lewis, Jackie Joyner-Kersee and Sebastian Coe. However, it was the signing of basketball player Michael Jordan in 1984, with his subsequent promotion of Nike over the course of his storied career with Spike Lee as Mars Blackmon, that proved to be one of the biggest boosts to Nike's publicity and sales.
NIKE TENNIS
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MARIA SHARAPOVA THE NUMBER ONE CEDED TENNIS STAR
One of the most lucrative sports for Nike is tennis. During the past 20 years especially, Nike has been one of the major clothing/footwear sponsors for leading tennis players. Some of the more successful tennis players currently or formerly sponsored by Nike include: James Blake, Jim Courier, Roger Federer, Lleyton Hewitt, Andre Agassi, Rafael Nadal, Pete Sampras, Marion Bartoli, Lindsay Davenport, Daniela Hantuchova, Mary Pierce, Maria Sharapova, Serena Williams.
NIKE TENNIS FOR MEN
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ROGER FEDERER(LEFT) AND RAFEL NADAL(RIGHT) THE 1ST AND 2ND CEDED PLAYERS
One of the most lucrative sports for Nike is tennis. During the past 20 years especially, Nike has been one of the major clothing/footwear sponsors for leading tennis players.
NIKE TENNIS FOR WOMEN
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THE LEADING TENNIS STARS ALL ENDORSING NIKE
NIKE CRICKET
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INDIAN CRICKET TEAM IN OFFICIAL KIT SPONSERED BY NIKE
Nike is also the official kit sponsor for the Indian cricket team for 5 years, from 2006 to 2010. Nike was awarded the contract for US$43 Million.
NIKE FOOTBALL
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LEADING FOOTBALL CLUB MANCHESTER UNITED IN TEAM KIT SPONSORED BY NIKE
Nike also sponsors some of the leading clubs in world football, such as Arsenal, Manchester United, Barcelona, Valencia, Inter Milan and Juventus.
NIKE GOLF
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THE NUMBER ONE GOLF PLAYER OF THE WORLD TIGER WOODS SPONSORED BY NIKE
Having diversified into golf, Nike sponsors several of the worlds top players, including Tiger Woods, Trevor Immelman and Paul Casey. NIKE Golf is passionately dedicated to honoring and respecting the traditions and heritage of the game, and to providing committed golfers with the absolute best equipment.
AWARDS & RECOGNITION
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Featured Award Nike Named to FORTUNE's 2008 "100 Best Companies To Work For" List Nike has been recognized three times (2006, 2007, 2008) by FORTUNE magazine on its "100 Best Companies To Work For" list.
Nike Named One of the World’s Top Sustainable Stocks Nike claimed the only spot in our industry for the 2007 Sustainable Business list of the World’s Top Sustainable Stocks. In their release from July 18th, Sustainable Business and KLD called out Nike’s leadership in the consumer products area, saying: “It's not easy to ‘just do it’ when your manufacturing is outsourced to subcontractors, but Nike is showing it's possible. Its very impressive sustainability report drills down to the finest details of the company's operations and products. It is transforming its products by using green design principles, rooting out waste and toxics, and planning for carbon neutrality by 2015.”
Nike a 2007 best place to work for GLBT equality – 2007 Nike was one of 142 American companies cited as a 2007 best place to work for gay, lesbian, bisexual and transgender (GLBT) employees by the Human Rights Campaign
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Foundation. Read their press release.
Human Rights Campaign – 2002, 2003, 2004 Nike scored 100% on HRC’s Corporate Equality Index for workplace practices
National Congress of American Indians Leadership Awards – 2002
Nike 5K for Kids Recognized As Youth Program of the Year On February 12, 2008, Running USA and YouthRunner.com named the Nike 5K for Kids Series the Youth Program Contributor of the Year. USATF Names Nike Women's Marathon Charitable Race of the Year for 2006 Hong Kong Caring Company Award – 2003, 2004 Awarded by The Hong Kong Council of Social Services for Nike’s Slam Dunk Basketball Challenge supporting Save the Children Portland Trailblazers’Heart of the Community Award – 2004 National Head Start Association Award – April 2004 Honored for commitment to Head Start and support of early
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childhood education Spirit of Portland Award – December 2003 Oregon Commission for the Blind's Private Sector Employer of the Year – December 2003 Australian Prime Minister’s Community Business Partnership – 2003 Awarded “Judges Encouragement Award” for Nike’s ARMTour Partnership Oregon Food Bank – 2003 Received “Stone Soup” Award for volunteer matching program, food donations and support of Arnie Gardner, who serves on the OFB board
NIKE BRANDS
Cole Haan Cole Haan, headquartered in Yarmouth, Maine, designs and distributes dress and casual footwear, apparel, and accessories for men and women under the brand names Cole Haan® and Bragano®. Cole Haan operates more than 100 retail locations throughout the United States, Canada and Japan
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Hurley International LLC Headquartered in Costa Mesa, California, Hurley International LLC designs and distributes a line of action sports apparel for surfing, skateboarding and snowboarding, and youth lifestyle apparel and footwear under the Hurley brand name.
NIKE Golf Located at NIKE’s World Headquarters in Beaverton, Oregon, NIKE Golf designs and markets golf equipment, apparel, balls, footwear, bags and accessories worldwide. NIKE Golf is passionately dedicated to honoring and respecting the traditions and heritage of the game, and to providing committed golfers with the absolute best equipment
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Converse Inc.
Converse Inc., based in N. Andover, Massachusetts, is a wholly owned subsidiary of Nike, Inc. Established in 1908, the Converse brand has built a reputation as “America’s Original Sports Company”™ and has been associated with a rich heritage of legendary shoes such as the Chuck Taylor® All Star® shoe, the Jack Purcell shoe and the One Star shoe. Today, Converse offers a diverse portfolio including premium lifestyle men's and women's footwear and apparel. Converse product is sold globally by retailers in over 160 countries and through 25 company-owned retail locations in the U.S
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SHOP & CUSTOMER SERVICE INSPIRING ATHLETES AND BUILDING RELATIONSHIPS
The Nike mission: To bring inspiration and innovation to every athlete* in the world.The asterisk is a quote from Bill Bonikerman. Who is he? Legendary track & field coach at the University of Oregon, a teacher who shoniked athletes the secrets of achievement. Co-founder of Nike.
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PROJECT DESIGN
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Data Collection method
I have used both the methods; Primary and Secondary methods for the collection of the data. In primary methods I have obtained Questionnaires from Nike users as well as non users. And on the other hand I have approached and gathered data from different websites (internet), brochures and magazines. In the scope of collection and gathering of data, I have approached different sites in internet and magazines. 1) Primary Data Collection method: In this method of data collection, I have gathered data directly from sportgear users, with the help of Questionnaires. I have analyzed and interpreted the results of individual as well as whole in general.
2) Secondary data collection method:
According to this method I have collected data from different sources of information, I accessed internet, which really helped me out to gather a large portion of my data regarding the Nike Inc. Internet was the main source for me to get secondary data;
I have approached General magazines, brochures and television information for secondary data. I have used the following sources for secondary type of data. Internet: Through internet I have visited the official sites of Nike Inc., www.nike.com, apart from this the main source of information I have got is www.google.com, different search engines such as www.wikipedia.org, www.answer.com and so many others like www.ask.com. 39
Magazines: I read different magazines for information about the Nike Inc., demand analysis and so more. It helped me to get a general idea about the marketing and advertisement strategies. Television: With the help of TV I got to know about the latest Nike advertisements and sports persons, teams and events endorsed by Nike, this in turn helped me to know the efficiency of the marketing and advertisement approach of Nike Inc. The sources for data collection will be mentioned in bibliography in the later part of the research report.
Data Sampling
Data sampling has helped me in generalizing my results to the population. 97% of the population is user of Nike products. It was very easy for me to approach my questionnaires to them. The sample size of my research report is 40. Though the population of Nike users was in large number but I had to complete my project within the limit and scope of time and expenditure. As sportsgear is used widely in day to day life by everybody so the feedback could be interpreted into general findings. It would be time consuming and expensive, if I had selected a huge sample size therefore I considered the selected sample size for this research report.
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LIMITATIONS & SUGGESTIONS OF THE REPORT
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LIMITATIONS
1. Size of the sample was very small. 2. As the sample size is small, the findings could not be generalized to the whole population. 3. Time factor was the major limitation. 4. Questionnaires are filled within a small time span which reduces the quality of the responses given by the people. 5. The great importance is given to the quantity of questionnaire to be filled instead of the quality. 6. The responses given by the respondent may not be completely reliable. 7. Respondents may not take the survey seriously and the questions may not be answered accordingly.
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SUGGESTION
• I think that we should use nike brands because they are more
attractive in compare to other brands like addidas,puma,reebok. • Nike products are more popular among the new generation and I think that nike should give certain discounts. • • Should also provide with better after sale services which is absent They should also launch certain range of products which a average person can purchase. • They should launch some kids ware as there are very few product available in the stores.
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CONCLUSION
From the analysis done, the following points can be concluded:• Nike is the most preferred sports brand amongst other brands such as Adidas, Puma, Reebok. • • Shoes of Nike are the most popularly known and used product. Television serves to be the most effective means of promotion for nike. • • • • Nike products are generally used on the regular basis. The quality of nike products is satisfactory. Pricing of nike product was observed to be of a moderate nature. Nike has created a niche for itself in sportswear since various sport teams, sportspersons etc are endorsed by nike. Tennis stars like roger federer, maria sharapova are brand ambassadors of nike which shows that nike is preferred and supported by personalities/celebrities as well.
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BIBLIOGRAPHY
Books:-
1) Kothari C.S., Research Methodology – Methods & Techniques, Second Revised Edition (Reprint), 2007
2) Prof. Dr. Mahesh A. Kulkarni, Research Methodology and Project Work, Second Edition, August 2007
Websites:-
1) http://www.google.com/
2) http://www.nike.com/ 3) http://www.ask.com/ 4) http://www.wikipedia.org/ 5 http://www.answer.com/ 6) http://www.nikebiz.com/ 7) http://www.nikeid.com/
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