Nike – Philip Knight's Success Story – Famous Entrepreneurs

Nike – Philip Knight's Success Story – Famous Entrepreneurs

"Play according to the rules. But be terrible."

Starting The Company

And The Origin Of FedEx, Philip Knight's First Ideas About What Nike Inc. Would come to him when he was there

school. While working at his master at Stanford, Knight – a successful runner during his undergraduate days at the university

from Oregon – wrote an essay describing a plan to overcome the monopoly that Adidas had on the shoe market. He thought the way

to realize this was to take cheap Japanese labor to make a shoe better and cheaper.

Shortly after graduation in 1962, the plan was taken. Knight went to Japan to meet with the leaders of Onitsuka Tiger

Co., a manufacturer of imitation Adidas runners, claims to be head of a company called Blue Ribbon Sports (which is not

exist except in his mind). Knight convinced Tiger to export their shoes to the states, although Blue Ribbon, and had sent them samples

so his employees could inspect them.

Knight paid for the monsters with money from his father. He sent a few to Bill Bowerman, knight's track coach of his days

The University of Oregon, who was interested in the company. Knight and Bowerman became partners and put $ 500 each in the

purchase of 200 pairs of tigers. Blue Ribbon Sports was formed, and Knight started with high school events

sells the shoes out of his car's trunk.

The sale was $ 3 million when Knight was chosen to dissolve the partnership with Tiger in the early seventies. Blue Ribbon began

produced his own line and began selling his Nike line (named after the Greek goddess of victory) in 1972. These first Nike shoes

were decorated with the now internationally recognizable swoosh logo – which Knight commanded for $ 35 – and had the

The success of the blue ribbon (renamed 19459003) Nike in 1978) in the seventies and in the years & # 39 ; 80 can largely be attributed to Knight's marketing

strategy. He thought it best to not advertise his Nike shoes by advertising, but to endorse expert athletes.

Fortune smiled at Knight as his partner Bill Bowerman became the coach of the American Olympic team and many of the Best Performers

on the team decided to shake their feet with Nikes. Of course, when the runners performed well, the shoes they were wearing

marked. Steve Prefontaine, a brash and unconventional US record holder, became the first spokesman for Nike shoes.

After the tennis player John McEnroe had his ankle injured, he started wearing a Nike three quarter shoe and the sale of that particular

brand jumped from 10,000 pairs to more than 1 million. As the knight had hoped, celebrities' celebrity awards brought success to the

company. Knight also triggered a jogging rage, and through smart marketing, the consumer convinced that they should be alone

best carries the best in the world.

The Air Jordans helped the company flourish in the 1980s. In their first year, the shoe made over $ 100 million.

Knight realized his first goal of replacing Adidas as the number one shoe manufacturer worldwide in 1986. By total sales

had exceeded $ 1 billion. By neglecting the growing interest in aerobic shoes, Nike would have to face a few

By Problem and Controversy

Sales decreased by 18% between 1986 and 1987. Reebok's trendy, stylish aerobic shoes came in high demands. Knight had to

acknowledge that the technical performance of the Nike shoe would not meet those who placed their appearance above performance. The

Nike Air was the response of Knight to Reebok. It generated revenue and returned Nike to number one place in 1990.

Corporate Monster, it became Nike's goal of public outrage in 1990 when stories of teenagers were killed for their lives

Nikes began to float. It was assumed that Nike promoted their shoes too vigorously.

That same year, Jesse Jackson attacked Nike because he has no afro-Americans on his board or among his vice presidents, despite

the fact that his client base was largely black. Jackson's Nike Boycott lasted until a black councilor was appointed.

There has also been controversy or Knight's use of Asian factory workers as cheap laborers exploitation.

Due to all the bad presses that were run on these Nike Nike shoes, Nike shoes still sold well. And in

1993, The Sporting News, Knight voted "the most powerful man in sport", although he was not a player or manager. Knight's

Marketing management is praised and considered as an important factor in its impressive successes.

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