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Introduction
In this world of globalisation brand image is one of the most important components to establish a competitive advantage. In this study the Auditing Assignment will be performed effectively. The main mission, vision and internal communication drivers of the company will be depicted. Brand assets and brand perception will be analysed in detail.
Company background
Nike is one of the largest manufacturers of sportswear footwear apparels and athletic shoes. It is headquartered at Oregon USA. Revenue of the company is 37.4 billion dollars. At present, the number of employees employed in Nike is almost 75000. Net income of the company is 31.34 billion dollars and total equity is more than 8 million dollars (Nike Inc, 2020). Nike uses a demand generation model for its business growth. Market share of Nike in sports item is almost 60% on a global basis. Uses an online platform to maintain transparency and honesty in its recruitment process. It has got an innovative organisational culture that helps in enhancing the motivation of the employees. The company targets the sportspersons and millennials in young generation consumers. The company has started its journey in 1964. Both online and offline marketing is performed by the company. Endorsement by famous sports persons and advocacy in a major sports event at the offline marketing strategy of Nike. Adidas Puma is the main competitors of the company.
Brand elements
Mission overview and core brand essence
The vision of Nike is to bring inspiration and innovation to every athlete of the world. The mission statement depicts to do everything possible to expand human potential. The major brand essence of Nike is innovation and inspiration. It innovates unique sports items for the professional sportspersons of the globe.
History
Drivers of communication and Internal communication and heritage
The communication to the consumers is derived based on innovation to establish a competitive advantage. The organisation has got a rich heritage the brand started as Blue ribbon sports in 1964 and after that slowly converted into Nike which is sports giants of the present day (Kornum et al., 2017).
Activities related to the mission
According to the mission statement, Nike performs effective capacity building training to nurture the human potential of their employees. They give an innovative culture where employees can design unique products according to the exact market demands.
Market positioning
Niche market
Market positioning is one of the most important concepts that help to establish a unique advantage. The niche market of Nike is professional sportspersons. Moreover, the upper class and upper-middle class are the other major target consumers for Nike. The brand promise is to develop inspiration and innovation for every athlete of the world. The total quality control is done in every step of manufacturing to maintain the legacy of the brand (Rehman, 2017). Inventory management is done innovatively in the demand and supply of the market thus living up to its mission statement.
Figure 1: Brand Positioning
(Source: Lee, Kim, & Won, 2018).
Competition analysis
The total revenue of Nike worldwide is 33 billion dollars and its brand valuation are at 27 billion dollars. However, it has got a fair amount of competition in the use of sports manufacturing market. Essential competitors are Adidas, Puma, Reebok. Nike formulates strategy campaigns by sponsoring teams from football cricket and other sporting events to establish a competitive edge over the rivals.
Brand Assets
Logos symbols packaging slogans
Nike has a swoosh logo which is based on the Greek goddess of victory, Nike. The designer wanted to embrace the mythical cultural and historical perspective to create brand visibility for the company and has helped to create a brand image that enhances the sale of the company by 30% on a global basis (Alazzawi, 2019).In the packaging of the product ecological footprint is considered and recyclable containers of oranges and coffee leaves are used.one of the major slogans of the company is “Just Do It” which was formulated in 1988 in advertising meeting. This slogan has become the trademark of the company and consumers identify this slogan effectively, thus increases the market visibility of the brand.
Figure 2: Brand Logo
(Source: Zhang, 2018)
Variation in logo
There is not much variation among the previous and present logos of Nike as the management believes in keeping the logo as the identity of the brand. It is based on the Greek God Nike. The logo depicts a simple and innovative culture that is experienced in the organisation
Digital print
The world is going through the digital revolution and Nike is making the most of it by creating an image by digital printing technology. This has enhanced the website traffic of Nike and has doubled visibility and sustainable consumer base of the company. Digital printing has been used in fly knit shoes which has become one of the unique products of the organisation (Vilčeková, Štarchoň, 2017). The digital media is used to perform search engine optimization as well as for exclusive printing of logos and banners for the innovative campaign of the company.
Brand perceptions
The main basis of brand perception
The company has redefined brand perception by establishing itself as a fitness lifestyle brand. The logo is one of the important aspects that has helped in establishing positive buying perceptions of the consumer. Physical campaigns and focused digital marketing have created brand perceptions in the minds of the consumers. Endorsements of the products are done by which sports person like Michael Jordan Lionel Messi increase the brand value by manifolds. Due to the total quality management, the consumer satisfaction level is very high that helps in maintaining the brand perception. In the opinion of Rehman, (2017), brand visibility of Nike is one of the best in the world which has been devised on the innovative culture of the company. The consumers are ready to pay a good amount to buy the products of the company due to the brand image.
Perception of line and product channels
The perception of the line of products for Nike is very high. Nike develops premium brand products for its elite consumers. This helps the company to develop extended products like accessories and jerseys which have high demands in the market due to the brand value. Effective management of distribution channel between suppliers and retailers are maintained. Integrated inventory management and supply chain management software is used to manage the demand and supply for the company. Digital media is used for distribution in the online market as well, that has enhanced the total amount of profit by almost 15% (Ismayanti, & Santika, 2017).
Unique selling proposition, brand awareness and brand equity
The unique selling proposition is one of the most important factors in the establishment of competitive advantage. Nike mainly expertise in the production of sports materials for star athletes. They provide the best quality shoes for athletes and fitness generals which is considered as their main uniqueness.
The brand awareness of the company is developed by sponsorship experience focused on retailing and advertising. The company spends a huge amount on advertisement and sponsorship as it endorses the star athletes of the globe. This kind of strategy has helped Nike to establish a class from another branch due to brand value the profit of the company has increased by almost 500 million dollars per year for the last 5 years (Nike Inc, 2020). The brand also endorses many rising athletes thus creating emotional bonding with the consumers. Corporate social responsibility is also carried out efficiently to enhance brand equity and brand awareness. The brand equity of Nike is in a very high range due to exceptional positive consumer perception.
Conclusion
The report depicted in details the brand value and brand perception of Nike. According to the analysis, brand perception of Nike is very high due to its innovative and unique products which are made of optimum qualities. Brand visibility is very high due to the presence of the iconic logo.
References
Alazzawi, A. A. (2019). Brand personality dimensions of Nike sportswear-an empirical analysis. Journal of Business and Retail Management Research, 13(4).
Ismayanti, N. M. A., & Santika, I. W. (2017). Pengaruh Celebrity Endorser, Brand Image, Kualitas Produk Terhadap Niat Beli Sepatu Olahraga Nike Di Kota Denpasar. E-Jurnal Manajemen Universitas Udayana, 6(10). Ismayanti, N. M. A., & Santika, I. W. (2017). Pengaruh Celebrity Endorser, Brand Image, Kualitas Produk Terhadap Niat Beli Sepatu Olahraga Nike Di Kota Denpasar. E-Jurnal Manajemen Universitas Udayana, 6(10).
Kornum, N., Gyrd-Jones, R., Al Zagir, N., & Brandis, K. A. (2017). Interplay between intended brand identity and identities in a Nike related brand community: Co-existing synergies and tensions in a nested system. Journal of Business Research, 70, 432-440.
Lee, J. L., Kim, Y., & Won, J. (2018). Sports brand positioning. International Journal of Sports Marketing and Sponsorship.
Nike Inc, 2020. Nike Inc. Operations Management: 10 Decisions, Productivity - Panmore Institute. [online] Panmore Institute. Available at:
Rehman, Z. (2017). An assesment of brand reputation as an attitudinal construct at Nike: a female consumer perception analysis (Doctoral dissertation).
Vilčeková, L., & Štarchoň, P. (2017). Consumer perception of selected brands explored through archetypes. In 4th International Conference on Education and Social Sciences (INTCESS), Istanbul.
Zhang, J. (2018, August). Strategy of Sports Brand Network Marketing on the Basis of Brand Image Promotion. In 2018 International Conference on Management, Economics, Education and Social Sciences (MEESS 2018). Atlantis Press.
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