Best v Worst Brands
From the statistics gathered from the research group and the surveys, we have concluded that Nike is the best brand and the Reebok is considered to be the worse brand. For the consumers, it was not the feel or the style of the shoe that was the reasoning for the dislike in the product, it was the lack of promotions and the lack of competition it gave the marketing giant known as Nike. Many felt that they never knew when new Reebok products were being released and they were not excited about the Reebok brand compared to the Nike brand. The leading cause of Reebok’s recent tumbles stemmed from problems relating to poor marketing. Reebok’s shortcoming in the area of marketing is their key weakness. While other athletic shoe companies bombard the airwaves with commercials pushing their product lines, Reebok remains out of sight and out of mind. While Reebok’s competitors are known by familiar slogans like Nike's "Just Do It," Reebok’s, "Are You Feeling It," does not equate to their brand name in the eyes of most consumers. Reebok, in terms of their products, is not entirely different from Nike. Reebok is involved in the design and marketing of both athletic and non-athletic footwear and apparel, as well as other various fitness projects. Reebok’s market share is a distant third in the footwear industry at 11.2% (compared to 30.4% and 15.5% for Nike and Adidas respectively). Reebok’s financial position has been gradually slipping for a number of years. This is evident in their declining stock price, which has fallen by over 80 percent in the last four years. Reebok’s financial woes are illustrated in their declining net sales. Reebok’s net sales declined 9% during the first three-quarters of fiscal year 1999. During that same period, net income declined 17%. The downfall of Reebok led to Adidas buying the company and adding its brand to their rising franchise.
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