Chapter ten: Product Concept

 

 

What is a product?

 

A product is defined as everything, both favorable and unfavorable, that a person receives in an exchange. Products are classified as two types, either business products or consumer products. Nike falls into the consumer products category with are products bought to satisfy an individual's personal wants.  

 

 

 

 

 

With all products come product items, lines and mixes.A product item is a specific version of a product that can be designated as a distinct offering among an organization's products. Product lines are a group of closely related product items. Product mixes are all products that an organization offers. Nike first started by selling only running shoes back in 1964, from there Nike expanded its product line depth to selling shoes for sports including, soccer, football, basketball, skateboarding, golf, tennis and other sports and also selling boots and everyday sneaker wear with stylish looks. Nike also expanded its product mix width by offering not only shoes but also clothing for men, women and kids and also offering sports gear for almost every type of sport.

Branding

What is a brand?

A brand is a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products.

The name "Nike" was taken from the Greek and means "goddess of victory". The Nike "swoosh" trade mark logo was created in 1971 by Carolyn Davidson, a graphic design student from Portland State University. The logo was registered as a trademark in 1995. Nike also has this famous slogan " JUST DO IT", which was first introduced in the late 1980s and became an instant success. 

Nike is  the largest seller of athletic footwear and apparel in the world. Nike sells its products through retailers, its own stores, internet and through a mix of independent distributors in more than 170 countries around the world. Nike has these benefits of being very successful because its a Franchisor. Nike also owns the brands Cole Haan, Converse, Hurley and Umbro.