•Nike, Inc is an American multinational corporation that is engaged in the
design, development and worldwide marketing and selling of footwear,
apparel, equipment, accessories and services.
•It is one of the world's largest suppliers of athletic shoes and apparel and a
major manufacturer of sports equipment.
•The company was founded on January 25, 1964 as Blue Ribbon Sports by Bill
Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971.
NIKE’S MARKETING STRATEGY
•Nike promotes its products by sponsorship agreements with
celebrity athletes, professional teams and college athletic
•Nike pays top athletes in many sports to use their products and
promote and advertise their technology and design.
•Eldrick Tont "Tiger" Woods (born December 30, 1975) is an
American professional golfer whose achievements to date rank him
among the most successful golfers of all time.
•Currently the World No. 1, he has been one of the highest-paid
athletes in the world for several years according to Forbes.
NIKE & TIGERWOODS
In 1996, Tiger signs his first deal with Nike . Not only was Woods to become
the highest-paid black golfer in the history of the sport, but Nike was also
taking a huge risk with signing a 19-year old to a $40 million, 5-year contract.
2001 – Tiger’s First Contract Extension – Woods quickly became the highestpaid golfer on the planet by signing a massive 5-year, $100 million contract
extension in 2001.
2006 – The Second Contract Extension – Success for Tiger – and Nike –
continued into 2006 when the golfer was offered and signed another extension
with the company for 7 years.
In 2009. a cheating scandal unfolded and it pointed the involvement of
TIGERWOODS.Those sponsors that were attracted to him because of his
good-guy, family image dropped him – including Accenture, ATT, Gatorade,
Gillette, Golf Digest, and Tag Heuer.
Sports-related sponsors such as Nike and Electronic Arts stood behind him
even as he fell from number 1 in the world to number 52. Their focus is,
and always has been, on Tiger the golf star.
NIKE’S STRATEGY WITH TIGERWOODS
•Nike created the now famous commercial of a apologetic Tiger
listening to the sage advice of his father, Earl Woods, talking from
the grave. Unlike other sponsors, Nike supported Tigerwoods in his
crisis and helped to recover his image.
•In 2013, Tiger Woods finalized a new sponsorship contract extension
with Nike Golf. By inking a new deal with the company, Tiger is
showing his own loyalty to a brand that has paid him millions of
dollars over his incredible career.