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A few years ago Nike entered into a long-term agreement with Red bull that included, among...

A few years ago Nike entered into a long-term agreement with Red bull that included, among other things, joint promotions. From Nike’s perspective, and from your information about the two brands, was this the right decision? Is there any downside? Please explain by using relevant marketing insights

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From Nike's perspective and from the information about the two brands, the decision was right for Nike to enter into a long-term agreement with Red Bull that included, among other things, joint promotions. Both the brands have the same target segment of the sports fitness enthusiasts. Nike and Redbull both want to promote the cause of sports and fitness. They are involved in sponsorships and organising of sports events to promote the cause of sports performance and healthy lifestyle. It will boost the brand image of both brands as such agreements will show that the brands are more committed towards the performance sports segment. It will increase the customer loyalty towards the brand as well as customer retention. No, there are no downsides to it.

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