Personal Finance 2016

Kayla Lesch

   

1.         How do the terms “copyright” and  “trademark” play into the success of Nike’s products?
 Please explain your answer in a full paragraph of at least 8-10 sentences.

Trademarks help Nike because as Nike becomes more popular, more and more people see clothing and products with the trademark. Because the trademark is popular, people want to buy and wear products with the trademark because this is "cool". Also, because it is copy righted, other companies cannot copy the Nike symbol onto their own products and sell it for cheaper. This way, Nike has a monopoly on products with the Nike trademark.

2.      Should Phil Knight/Nike be allowed to use cheap labor in overseas locations to manufacture
            their products?  Why or why not?  Please explain your answer in a full paragraph of at least
            8-10 sentences.

Phil Knight/Nike should not be allowed to use cheap labor in overseas locations to manufacture their products. The plus to getting to use cheap labor overseas is that companies can make their products for cheap and sell them for cheap but still make a large profit. However, I am doing my Junior Research paper on modern day slavery and not all but many companies that do this use child labor and sweatshops. Nike is one company that has been accused of this. Back in the 1990's it was found that workers in Nike factories were being exposed to toxic fumes and that it exploited many child laborers. Although since then Nike has promised to follow stricter health codes and employ older workers, it is not clear that they are actually following through. Nike always give advanced notice to factories before they are checked for toxic fumes, giving them time to remove the fumes. Also, there is still questionable evidence over whether Nike uses child labor. 

 3.       Why is the Air Jordan brand still so successful today?  In your answer, please refer to
            Michael Jordan’s (and others interviewed) responses about branding and how the
            elite athlete endorsement process has changed since the time Michael Jordan first
            formed a relationship with Nike.  Please explain your answer in a full paragraph of at
            least 8-10 sentences.

The Air Jordan brand is still so successful because Michael Jordan, and other famous athletes, are so publicized. When a consumer sees a product, such as Air Jordans, with Michael Jordan's name on it, they immediatly connect the product to Jordan. Jordan is connected to fame, success and being cool. Especially among younger children, people are influenced by what others around them are wearing, and seeing an endorsed player wearing Nike influences consumers to want to wear Nike clothing. This helps keep the Air Jordans so successful.  Also, Air Jordan's stay successful by constantly coming out with new shoes. People who like the Air Jordans want to keep up with the product and will continue to buy the newest shoe, kind of like buying new iPhones.