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Creating Competitive Advantage
The core values of all the companies are similar. Nike stresses innovation, inspiration and caring; Adidas emphasizes authenticity inspiration, commitment and honestly and Reebok focuses on authenticity and individuality. Core values are vital for continuity, consistency and credibility in a brand value-creating process (Urde, 2003) which influences the buying decisions of consumers.
Nike focuses on a broad market segment consisting of not just sports, but also of people being active. The company uses a pyramid of influence (top athletes) to reach its target segments and spends heavily on advertising, localizing for the needs of specific geographic markets. A competitor with a more niche-based strategy might be successful at transforming the niche into a larger market as was the case with aerobic shoes. This also brings greater market opportunity for Nike, but makes it difficult for Nike to overtake the competitor's market share for that category because the competitor is focused exclusively on that market.
3. Nike has discovered that a small pyramid of influence (top athletes) impact consumer buying behavior and relies heavily on them for celebrity endorsements. It can often leverage the personality of the athlete to reinforce its core values such as the use of John McEnroe, the tennis champion noted for wanted to change the world of tennis. and, it can leverage teams and athletes as part of its marketing localization strategy such as the use of soccer in Europe.
4.Yes, Steve and Barry's is a huge threat to Nike. Like Nike, the company is leveraging athletic superstars to endorse its product. NBA player Ben Wallace appears on Steve and Barry's home page. To date, the company appears to have a niche base of consumers who cannot afford the more expensive Nike products, but if it can convince consumers that the quality of its product is just as good as Nike's, it could attack Nike's broader market.
Bibliography
Urde, Mats (2003). "Core Value-Based Corporate Brand Building," European Journal of Marketing, Vol. 37, No. 7, pp. 1017-1040.
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