Nike Strategic Plan - 1034 Words

Definition of the Problem How can Nike continue to increase their sales and profitability, not only here in the U.S. but around the world? Nike also needs to improve their public image as well as their customer service to continue to be competitive in the apparel industry. Possible Action Alternatives 1) Continue expansion into global markets where competitors have been successful. There are huge opportunities for Nike to grow across multiple dimensions in terms of international expansion. Nike should take advantage of promoting its brand overseas, beginning with the opening of several stores in the European market. Advantages †¢ Expansion into foreign markets means that sales will be toward people who have not previously had†¦show more content†¦By expanding into foreign markets, improving customer service, and enhancing the company’s public image, Nike could significantly improve their sales as well as their profit margin. Nike s primary focus should be selecting the international markets for expansion, improving the way sales associates assist customers in these stores, and ensuring that the stores are vested in the community and project a more wholesome image of the Nike brand. It is vital that the company seeks out and maintains individuals in leadership positions that are committed to the expansion of the company and to the brand itself. These leaders will need to work together to develop uniform policies and practices to be implemented systemically; provide the resources necessary to achieve these goals; and be patient as Nike continues to grow as a result of these actions. Clearly Nike already has a loyal customer base in the U.S. as they are currently the largest specialty apparel retailer. By opening more stores internationally, improving customer service, and improving the company’s public image, Nike could easily continue to outperform their top competitors such as Underarmour. Evaluation As Nike continues to grow by expanding into foreign markets, improving customer service, and enhancing the company’s public image, the company will see a faster ability to gain share and increase revenue and profits. 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