According to the researchers, the fundamental dimension of strategy helps an organization to take real strategic decision (Fr?ry, Lecocq & Warnier, 2015). The three dimensions of the mentioned strategy are creating value, handling imitation and defining a perimeter. In this report, these three fundamental dimensions of Nike Company have been discussed.
Value of Nike company
Quality: The quality of Nike’s product is one of the chief reasons behind its huge market value. The yoga apparels produced by Nike not only follows the latest fashion trends but also ensure casual comfort.
Reliability: Considering the fact that the consumers of the mentioned company relates brand image with reliability, Nike strives hard to maintain this perception by creating reliable products (Chung, Derdenger & Srinivasan, 2013).
Technology: According to researchers, Nike uses automated, high tech knitting technology to produce highly comfortable and durable shoes. Some of the examples of Nike’s innovative technologies are Nike Aeroloft, Nike Air and Nike Flyease.
Return policy: According to Nike’s return policy, Merchandises can be returned and refund can be claimed for any reason within 30 days with an original receipt provided the merchandises are unwashed and unworn.
In order to prevent imitation, Nike’s management is shutting down as many fake websites as possible along with working with federal and local law enforcement authorities (Kreng & Wang, 2013). The self-lacing sneaker of Nike is a self-imitating product which has gained huge popularity.
The product line of Nike includes apparels, various sports equipments and footwear. Nike’s products are worn by popular athletes and celebrities which in turn enhances the brand’s popularity.
From the above discussion it can be concluded that the success of the brand can be considered as a result of its effective implementation of the three above discussed dimensions of strategies
Chung, K. Y., Derdenger, T. P., & Srinivasan, K. (2013). Economic value of celebrity endorsements: Tiger Woods' impact on sales of Nike golf balls. Marketing Science, 32(2), 271-293.
Fr?ry, F., Lecocq, X., & Warnier, V. (2015). Competing with ordinary resources. MIT Sloan management review, 56(3), 69-77.
Kreng, V. B., & Wang, B. J. (2013). An innovation diffusion of successive generations by system dynamics—An empirical study of Nike Golf Company. Technological Forecasting and Social Change, 80(1), 77-87