Apr 11, 2022
In Welcome to the Food Forum
Portland, the city of roses. Known for its lush greenery, mellow vibes, and hipster lifestyle, Portland also happens to be where a young accountant created one of the biggest and most influential companies in the world. I'm talking about Phil Knight and the company he founded, Nike . Nike currently has 73,000 employees worldwide, with factories in 42 countries, annual sales of $34 billion and a market cap of more than $130 billion. Phil Knight founded Nike on January 25, 1964, and within a few years grew from a small Japanese running shoe resale partnership to the world's largest footwear and apparel company, while working two jobs, l one as a CPA at Price. Waterhouse and the employee email database other as an assistant professor of business administration at Portland State University. Nike didn't become as big as it is today selling cheaper, better looking, and more efficient running shoes. Contents Strategy #1: The “Ask for forgiveness, not permission” mantraStrategy #2: The “Hit the Road Jack” hack Strategy #3: The “Sell to Crazy” Positioning HackStrategy #4: “Partnership Made in Heaven” Strategy #5: The “Michael Jordan of Advertising” Hack Strategy #6: The One-Sentence Marketing TacticConclusion Nike's success lies in its business strategy, which any retailer, big or small, online or offline, can copy and implement. For this reason, we have analyzed the history of Nike and found six key marketing strategies that have played a vital role in their growth. Plus, we've taken each of the company's big hits and adapted them for an eCommerce store owner like you to apply. Nike Marketing Strategy #1: The “Ask For Forgiveness, Not Permission” Mantra That Enabled Phil Knight To Launch Nike With Limited CapitalPhil Knight was not born an entrepreneur. The son of a local journalist, Knight has always been a sports enthusiast. In high school, he was an avid runner, a passion he nurtured during his undergraduate studies at the University of Oregon (UO) in Eugene.