The company can enhance its brand image as a socially responsible manufacturer of retail products by creating products from manufacturing waste, encouraging shoe recycling programmes, and helping local communities where manufacturing facilities are to improve their economy.
Nike should continue to focus on emerging markets where consumers are getting more disposable income and interest is growing in western brands. This can include increasing sponsorships of local sports stars and celebrities. Areas of focus could include India and China.
Nike should continue to look at accessories and other clothing products to further diversify its product portfolio as well as continue to look for brand extensions by partnering with sporting good equipment makers to put the Nike brand on sports equipment.
There is an opportunity to create custom footwear for the luxury segment so that they could have their own shoe design, which could tie with its brand image and create an exciting new marketplace through the use of technology to help the consumer design the shoe online similar to the way they can customise a car they were buying.
Additionally, there is an opportunity to create niche brands for other consumer segments that are looking for more affordable pricing. Other premium brands have been able to produce other product lines under the primary brand without diluting the brand's existing attributes so Nike could be able to follow the same strategy.