Hyundai Signs Four-Year Deal As NFL Auto Sponsor Women's Fashion In Spotlight At Wimbledon Scotiabank Threatens To Pull CONCACAF Sponsorship Iguodala Settling In To Role With Twice Marketplace Roundup Nike Sees Sales Rise 4.8% In Q4 Oubre Jr. Leads NBA Draft Fashion Marketplace Roundup Towns Focus Of New Samsung Campaign Digital Brand Value For NBA Draft Prospects
SBD/August 23, 2012/Marketing and Sponsorship
Controversy Over $300 LeBron Shoes Continues; Is Nike Sending Wrong Message?
Published August 23, 2012
NUMBERS GAME: In Las Vegas, Ed Graney writes, "The fact that an athlete's shoe is flirting with the once unimaginable price of $300 shouldn't send shock waves through anyone's wallet." If it "knows anything, Nike understands the math on this stuff." Nike owns 95% of the basketball shoe market in the U.S., and "retail for its hoop shoes costing more than $100 is up 50 percent." Graney: "I blame James for the ridiculous price and I don't. I get it. The power of capitalism. The basic supply-and-demand strategy" (LAS VEGAS REVIEW-JOURNAL, 8/23). However, CNBC’s Julia Boorstin said, “The problem is marketing and that Nike is marketing these shoes to teenagers and often to teenagers in inner-cities who can’t afford them. I think that Nike does pride itself on its corporate responsibility, they just have to be really cautious how they handle the marketing issue” ("Power Lunch," CNBC, 8/22).