Nike Fuel Band Essay Example | Topics and Well Written Essays - 1250 words

Nike Fuel Band - Essay Example Nike Fuel Bands are easy to set up as well as use, and they come in three sizes (the small, the medium or large, and the extra-large). Another feature on the wristband is a size space, which enables it to fit best. This product is also resistant to water and enjoys a long battery life (could go even for seven days) (Bergh & Behrer, 2013). Nike Fuel Band has an added advantage in the sense that it comes with a free mobile application (Nike+ Fuel Band). With this application, a person is able to track progress made, turning the movement tracked into Nike Fuel points. This can be synchronized using Bluetooth wireless to view results, the high points during the day, the achievements or trophies gained, and general progress made. In summary, the Nike Fuel Band tells a person how active they are and motivates any person who desires to increase their level of activity (Bergh & Behrer, 2013). Company Description Nike Fuel Band is an exclusive product of Nike, Inc. This is a corporation that is multinational and of American origin. Nike, Inc. can be rightfully termed as the leading innovator in the world when it comes to athletic footwear, equipment, apparel, and accessories. The company designs, also develops, sells, and markets its products and services throughout the world. The Nike, Inc. company has its headquarters in the county of Washington, Oregon (close to Beaverton), in the United States of America. When it was founded, it went by the name Blue Ribbon Sports. This was on 25th of January, the year 1964 by two men who were visionary and dared to be pioneers of the athletic footwear revolution. The men who brought this redefinition to the industry were Phil Knight and Bill Bowerman. The company became known as Nike, Inc. officially on 30 May 1971. The Nike acronym is taken from a Greek mythology and was ascribed to the goddess of victory (Bergh & Behrer, 2013). Nike, Inc. as a company has what it believes in and this is that any person, who has a body, can become an athlete. This underpins the company’s vision of promoting mobility, comfort, and style through its gear as a whole (footwear, accessories, equipment, and apparel). The mission statement of the company is encapsulated in bringing inspiration as well as innovation to each athlete all over the world. This commitment is evident in the new and extremely innovative methods that Nike, Inc. is using in development of athletic products that are superior (Moe & Grahn, 2012). The company also uses methods that are very creative when it comes to direct communication with consumers. Nike, Inc. has experienced dynamic expansion that includes growing strongly in China. Product Life Cycle The Product Life Cycle (PLC) is the life span of a certain product. Product Life Cycle is a theory, which has its basis on the way a product evolves. This movement takes place in four steps that are from start to the end. The first step in the process of Product Life Cycle is the introduction of a produ ct, and then moves to the stage of growth, maturity stage follows, and finally there is a decline in the sales of the product. This information is usually displayed in a Product Life Cycle Curve, which depicts the level of sales of a product against time (different phases). The Nike Fuel Band is in the growth stage of the Product Life Cycle. This is evidenced by its presence in the market and exponential growth of its sales since being introduced into the