Business Research by Axel Ruiz

Should Nike continue collaborating with celebrities

4arui915 — 2024-03-01 19:50:10 UTC

4arui915 — 2024-03-01 19:53:22 UTC

One Bowerman Dr, Beaverton, OR 97005

Sources 1

4arui915 — 2024-03-06 18:56:38 UTC

Source 2

4arui915 — 2024-03-06 19:24:39 UTC

Pros

4arui915 — 2024-03-11 15:47:04 UTC

The celebrities could gain more money because it was like a sponsor, opens new markets for the buisness

Cons

4arui915 — 2024-03-11 15:50:34 UTC

The celebrities can overexposed, they can just focus on the celebrities if they are big, image change

Source 3

4arui915 — 2024-03-11 18:02:45 UTC

Source 1 notes

4arui915 — 2024-03-11 18:12:56 UTC

In 1984, Nike teamed up with Michael Jordan to make some new shoes. They used Michael Jordan because they were struggling with their business at the moment. They paid Michael Jordan 500,000 a year for 5 years to be with them. He wore the shoes on court and they were called the Nike Air Ship. The shoes were good off and on the court. Nike sold $70 million worth of shoes thanks to Michael Jordan. When he wanted to sell the sneakers the fans wanted to buy it and made Nike over $100 million in a year. NBA rule said that you had to wear a all white sneakers and Jordan was fined $5,000, he didn't care though and kept wearing them to represent Nike.

Source 2 notes

4arui915 — 2024-03-11 18:13:23 UTC

Nike had a good taste in collaborating with them. Brand value and target market is important to Nike. They said "Its not just about finding someone famous, its about finding someone who embodies the essence of Nike. Michael Jordan influence extends and how he helped Nike to make millions of dollars with his support. Inspiring generations are good for Nike and extending so they can collaborate more with celebrities'

Source 3 Notes

4arui915 — 2024-03-11 18:17:27 UTC

Nikes influence and impact on their business is pop culture and fashion. They have to make good images for people to buy stuff from them. In the 80's and 90's Nike began to make cameos in TV. The ascent of its Jordan brand with Michael Jordan is important celebrity because he helped Nike with the money and he made the Air Jordan shoes

4arui915 — 2024-03-12 18:14:46 UTC

I will say that Nike is doing a great job at the moment. However, I believe that they should collaborate with more basketball players because they could wear the shoes on the court and off the court so more people would buy them. In the article marketing strategy They said "It's not just about finding someone famous, it's about finding someone who embodies the essence of Nike” this means that if they find the right person to collaborate that's famous and well known, they would make more money and sell the shoes way more. The only problem is that they have been accused of child labor and their debts accumulated at $9.4 billion in November 2021.