Question

3) How has COVID 19 affected Nike? What other steps can you give Nike that would...

3) How has COVID 19 affected Nike? What other steps can you give Nike that would help them not only survive but excel given these circumstances?

Other steps might come from other companies, other industries, or any of the new government programs such as PPP or 7a loan programs that can provide assistance for multiple services to help businesses during these tough times.

Homework Answers

Answer #1

The Nike is considered as one of the largest brand of sports apparels and shoes. The following part of the answer focus on how Nike is affected due to the outbreak of Covid-19.

Stores of Nike in most of the countries are shut due to the spread of the disease. This has brought down the sales of the product to a great extent. One of the major negative impact of Covid-19 which has been faced by Nike is the gross margin of the company fell up to 80 basis points.

Steps to overcome

The following steps if undertaken by Nike can help the organization to overcome this situation

a) The organization can focus on social-media marketing now. Most of the countries are going through lockdown and people are staying at their home. This has resulted to an increase in the use of several social media platforms. Thus, details of product and their features can be posted in several social media platforms. Social media campaigning can also be launched. The campaign should focus on displaying the product along with a message issued in public interest. This can drag the attention of numerous external stakeholder.

b) It can also collaborate with organization who have e-retail business to make the sales of their product stable.

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