Luxury department store Lord & Taylor and the company that owns both Men’s Warehouse and Jos. A. Bank have announced plans to file for Chapter 11 bankruptcy protection. The stores join a growing list of retailers that have made similar…
Brands Taking Stands for What They Believe In Will Reap Benefits
#Nike and #NikeBoycott remain popular Twitter threads today as consumers debate the latest move by the company to feature Colin Kaepernick as one of the faces of its “Just Do It” ads. Tomorrow night, the company is scheduled to debut a “Just Do It” commercial during the regular NFL season opener.
Eunkyu Lee is a professor of marketing at Syracuse University’s Whitman School of Management. He says brands cannot be everything to everybody, so it’s important for companies, such as Nike, to not only know their brands but also to stick by them in a strategic, focused way.
“The fact that Nike has chosen Colin Kaepernick as the face in its latest ad campaign is not surprising at all, considering the fact that Nike typically stands by its athletes and given the fact that its relationship with the football player dates back to 2010. Nike took a calculated risk, deciding to express its values despite the controversial topic and based on the attention they’re receiving as a result, the risk is paying off.
“In the old days, companies spent a lot of money for this kind of attention but in this time of social media, Nike is reaping the benefits of having millions of conversations happening about its brand. With the advent of social media, brands can no longer control their messages in the way they once could. So, it’s best for companies to ride the wave, as Nike is doing, rather than try to control the wave, which is futile.
“Nike’s unwavering support for its athletes resonates with its younger, diverse demographic, which likes to see brands take stands for what they believe in.”
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