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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).