Question 1
One of the major challenges that Nike usually experience while at the foreign market is massive competition from well established companies such as New Balance, Puma, and Adidas AG. It is obvious for any company to experience stiff competition, which may force it out of the business. Additionally, there are fake overflow of imitated products into the foreign market. Most fake products usually circulate in countries such as Taiwan, Vietnam, and China. Nike usually represents a higher consumer cost than other companies’ brands, hence the clients feel like the company overcharge them for the products.
Question 2
The Nike Company has introduced many strategies that usually enable it to outdo its competitors. The Company usually considers new design, which aims at sustaining its principles, thereby, encouraging massive innovation and creativity. It allows the company develops new products that are unavailable in the market in order attract many costumers as well as improving the brand image of the company. The Nike Inc. ensure that customers’ preferences are adequately met by providing those products that can suit their needs and demands. The company embraces product differentiation in order to differentiate its brands and products from its competitors.
Question 3
Nike like any other company in a foreign market has come up with maximum initiatives that will enable I prosper and outdo its competitors. The company embraces effective advertisement procedures such as printed advertisement, supported advertisement, brand identification, and other necessary issues. It is evident that the company understands the needs of its costumers globally. In every country, clients there have different needs that need to be met effectively. Despite the fact that there are many competitors in the marketplace, Nike Company manages to stay on top of the marketplace with much of its products being embraced by many customers worldwide.
