My Favorite All Time Basketball Player advertised with NIKE.
Advertising helps marketers increase or maintain brand awareness and market share. Big name brands use advertising now-a-days to keep their market share and to maintain their popularity. Nike definitely qualifies as a big name brand who, in the past, has been known to be a "free spending" company when it comes to advertising. Recently, however, they announced that they will cut their advertising budget "heavily" according to Ben Klayman from Reuters.com. Nevertheless, Nike spends so much on this aspect of marketing that people have no worry that Nike will remain at top of the market share in America. In 2009 they had used a advertising budget that was 4 times greater than number two in the competitive market, Adidas.
These cuts of advertising will benefit Nike very nicely because of a new target they plan on to pursue. Online advertising costs way less and you are guaranteed more people will see it. Nike will soon be all over the web and they will save SOOOOO much money.
Besides regular modes of advertising, Nike truly believes in sponsorship to get the big name brand publicity around the world. They sponsor athletes from around the world in every major sport. Basketball, Football, Soccer, Baseball, Cricket, Hockey, Track and Field, Golf, Polo, Swimming, the list goes on and on. Last year, they used about 260 Million dollars on sponsorships! I believe this is why Nike is the best in their market.
They even stick by athletes who are in controversies, including these two world known men.
Lebron was criticized heavily for leaving his hometown Cavaliers and this is his response to the world
You know what happened to Tiger, but Nike used this as an opportunity to help their superstar withstand the negative community.
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