Product

The brand that will be focussed on in this post is Nike and the product area in specification is shoes.

Nike have remained a dominant force in the footwear industry for years now. They have been able to maintain this market dominance through release of new products.Whilst many brnads within the fashion industry go through an eventual decline in their brand or a demand for a specific product as seen in the product life cycle, Nike have managed to maintain a position at the growth/ maturity stage of this life cycle. An example of a brand in a similar industry that saw a decline in their product demand and hence their product life cycle was Florsheim shoes. Although the brand was founded earlier than Nike, they saw a rapid rise in popularity, however their lack of transitional development in alignment with peoples changing requirements and fashions saw their companies value and demand drastically decrease. This continuation of growth on the product life cycle  for Nike can be held largely as a result of their development of existing products and bringing out new ones. For example, over the christmas period, Nike released a twist on the already existing Nike Jordan range, by bringing out their Christmas edition as can be seen below.

By doing this, Nike is able to appeal to larger groups of consumers who want the newest fashion trends.