Company Name Nike Revised

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Company Name: Nike
Vision: To help the customers to thrive in a sustainable economy where people, profit, and planet are in the balance.
Mission: To bring inspiration and innovation to every athlete in the world.
Who is our key competitor during Practice Around? Why? The key competitors include Adidas, Puma, Reebok, and Puma. The reason is that they focus on the same market segment. Also, they have been able to develop a global brand, an aspect that enables them to establish their business in different parts of the world.
Which is my Market Segment? Who are my Target Customers? My target market is young people and athletes. Young people have a disposable income which they are willing to spend on high-quality products that meets their tastes and preferences (Porter 67). Also, with the growing sporting industry, athletes offer the company an opportunity to grow and maintain their revenues despite the growing levels of competition in the local and international market.
What strategy should we adopt? Cost Leadership
Styling/Quality? The products should meet customer expectation by being of high quality. This will prevent competitors from penetrating the market.
Production Strategy? The company has outsourced its production thereby, making it easier to take advantage of cheap labour and raw materials.
Distribution Strategy? The company has contracted independent distributors in order to reach customers from different parts of the world.

Pricing Strategy? Pricing strategy will play a significant in enabling the company to take over the cost leadership position. Having diversified the operations to different areas to take advantage of cheap raw materials, labour, and easily accessible technology, the company is in a good position to achieve a low break-even price. This makes it possible to set low prices in the market.
Marketing Strategy? The use of modern as well as traditional media has enabled it to retain its leadership position in the market.
Financing Strategy? The firm has been financing various innovative ideas, an aspect that has played a significant role in enhancing efficiency.
Other Strategy? The firm has franchised some of its operations so as to enable it penetrate some of the highly competitive markets.
During the Practice Round:
What have we done right? Identifying the competitors and a strategy to position the business strategy in the global market
What have we done wrong? The assumption that the cost leadership strategy is the most effective while a blend of several strategies can achieve better results
Works Cited
Porter, Michael E. Competitive Advantage of Nations: Creating and Sustaining Superior Performance. Free P, 2014.