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The objective of the proposed plan is to increase the sales by 20 percent globally and to position Nike as a premium brand in the developing world. Systematic implementation plan will be followed to achieve this goal. Meeting on a regular interval will be used as monitoring and controlling for the proposed plan. …
Introduction and Market Overview
The global financial meltdown of 2008 has negatively affected retail business because it reduced the purchasing power of consumers and destroyed consumer confidence (Finch & Wood, 2009). Businesses have shrunk drastically all over the world due to the integration of global financial markets. Firms are finding it difficult to sell their products to consumers in these tough times. Even big names like Nike are worried about their sales and purchasing power of their clientele, although it did well as compared to others in the recession. The company was founded back in 1964 and since then it has grown tremendously. The company is the leading seller of athletic shoes and apparel in the world (Sage, 2008). In 2010 the company reported a profit of $1.9 billion and an operating income of $2.5 billion, but revenues have fallen to $19 billion (Nike Annual Report, 2010). This is a point of concern for the company because it means that sales are declining due to some reasons. Fall in sales can be because of the tough economic conditions of European and American markets. This downward trend can cause many problems for the company in future because competitors can take market share from the company.
The main competitors of the company are Rebook, Puma, and Addidas. Nike sells sports equipment, apparel and footwear. ...
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