Final answer:
To generate strategies for Nike, strategic management tools like SWOT analysis, TOWS matrix, and Ansoff Matrix are used to analyze internal and external factors. Based on these analyses, strategies such as market expansion, improvement of online sales platforms, and product innovation could be formulated.
Step-by-step explanation:
To generate strategies for Nike using matching tools, one could employ several strategic management tools such as the SWOT analysis, TOWS matrix, and the Ansoff Matrix. Firstly, a SWOT analysis can help to identify Nike’s strengths, weaknesses, opportunities, and threats. Building on this, one could use a TOWS matrix to match strengths with opportunities to identify aggressive strategies or match weaknesses and threats to understand defensive strategies.
For example, if Nike has a strong brand reputation (strength) and there are emerging markets with a growing middle class (opportunity), one aggressive strategy could be to expand more into these markets with targeted marketing campaigns. On the other hand, if Nike recognizes a weakness in its online sales platforms and a threat from increasing online retail competition, a defensive strategy might be to improve its e-commerce infrastructure.
Furthermore, the Ansoff Matrix could be used to identify growth strategies by examining new vs. existing markets and products. For instance, Nike could look into market penetration strategies by boosting marketing efforts in existing markets or explore market development by entering new countries. Product development could include innovative sportswear technology aiming at niche sports segments, whereas diversification might mean creating an entirely new product line outside of apparel and footwear. Each of these strategies would rely on a careful analysis of market trends, Nike’s internal capabilities, and the competitive landscape.