Examine the mission and vision for the brand and explain how the brand name, logo, or slogan succeeds or fails to communicate the brand identity to consumers, competitors, and various stakeholders.
Nike’s mission is to bring inspiration and innovation to every athlete in the world, while its vision is to remain the most authentic, connected, and distinctive brand (Smithson, 2019). And as some are aware, this brand’s logo or (the swoosh:) is shaped like a wing of the Greek goddess of Victory, Nike. The word, swoosh, itself stands for fast sound, speed, and motion. Hence, the reason that this logo is in the shape that shows an arch of movement. Nike, of course, heavily depends on this symbol, as it successfully communicates the brand’s identity. Essentially, it does this by symbolizing athleticism, motivation, courage, honor, teamwork, and victory, which are all elements that relate to sports. And today, Nike is just shy of becoming the definition of sports itself. Nike’s logo also surrounds a brand that reflects aspects that many people strive for in their lives, like performance, innovation, authenticity, dominance, and winning. And by having these values as a part of the brand’s image, consumers connect with Nike not only for its products but for the image that it embodies as well. And as equally important, this logo allows the brand’s competitors and various stakeholders to recognize Nike and see the brand for precisely what it is, meaning an industry leader that designs, markets, and sells high-quality athletic footwear, apparel, and equipment.
What does the brand who successfully positioned itself do well?
Nike does a lot of things well, such as manufacturing quality shoes, along with supplying every day and professional athletes with apparel and equipment. But where this brand truly excels is its marketing. First and foremost, this brand is not just selling high quality, stylish products that incorporate innovative technology. It’s also selling aspiration, unlike many of its competitors. Nike has also successfully raised brand awareness and enhanced its image through athletic sponsorships and ads that feature its distinctive logo. And perhaps most important, the brand considers the environment and society when making its business decisions. As a result of its efforts, consumers perceive Nike as an innovative and socially-conscious brand that not only sells superior products but also encourages athletes to chase their dreams.
Using the brand you selected as an example, identify one or two strategies that may be applied when developing a brand name for an organization and explain how these naming strategies may help to effectively position a brand.
One strategy that may be applied when developing a brand name for an organization is known as the gods and goddesses approach, which employs a mythological figure to indicate what a company values (Lyon, 2009). This sports giant, of course, used this strategy in which it named its brand after Nike (the winged Greek Goddess who personifies victory). And it did so to convey what it deems essential, i.e., winning. Another strategy that may be applied is the evocative approach. This type of brand name is designed to paint a vivid and relevant image for the customer (Carter, 2014). Nike, of course, does this by evoking images of an athlete facing his/her greatest challenge, and against all the odds, prevailing. Also, these naming strategies may help to effectively position a brand by acting as powerful differentiators in which they allow a company to appear bigger than the just goods and services it offers. They also help by creating a strong and positive perception of a company and its products in the minds of consumers.
Carter, L. (2014, September 23). Brand Naming: Top Ten Methods for Brand Name Creation. Retrieved from https://www.personadesign.ie/brand-naming-top-ten-methods-for-brand-name-creation/
Lyon, E. (2009, June 15). Top 5: Strategies for Creating a Brand Name. Retrieved from https://www.sparxoo.com/2009/06/15/top-5-strategies-for-creating-a-brand-name/
Smithson, N. (2019, June 23). Nike Inc.’s Mission Statement & Vision Statement (An Analysis). Retrieved from http://panmore.com/nike-inc-vision-statement-mission-statement