NIKE HAS ALWAYS BEEN KNOWN FOR BEING ONE OF THE WORLDS BIGGEST MARKETERS, BUT DUE TO THE HARD HITS THAT THEY HAVE BEEN RECEIVING FROM THE MARKET LATELY IT LOOKS LIKE THEY WILL HAVE TO MAKE A BUDGET FOR HOW THEY ARE AND WHERE THE ARE INVESTING THEIR MONEY. OVER THE YEARS NIKE IS KNOWN FOR THE ENDORSEMENTS DEAL THAT IT HAS HAD WITH BIG TIME ATHLETES SUCH AS TIGER WOODS, KOBE BRYANT AND EVEN EUROPEAN SOCCER CLUBS INCLUDING MANCHESTER UNITED AND ARSENAL. THESE DEALS HAVE COST THEM A GREAT AMOUNT OF MONEY BUT IN RETURN THE REVENUES HAVE BEEN EVEN GREATER FOR THEM. ALTHOUGH THEY HAVE MADE A GREAT RETURN ON THESE INVESTMENT NOW BECAUSE OF THE MARKET THOSE THEY WANT TO INVEST IN THE FUTURE WONT BE GETTING PAID THAT MUCH. ACCORDING TO TNS MEDIA INTELLIGENCE IN 2007, NIKE SPENT OVER 184 MILLION DOLLARS IN ADVERTISING, BUT IN 2008 ONLY SPENT ABOUT 143.4 MILLION. THE RECESSION HAS CAUSE NIKE TO MAKE SOME CUT BACKS EVEN ON JOBS. IN OCTOBER OF 2008 NIKE THEN ANNOUNCE THAT IT WOULD BE CUTTING 4% OF ITS WORKFORCE, WHICH WAS ESTIMATED TO BE AROUND 1400 JOBS. SO AS YOU CAN SEE EVEN THE THE BIGGEST CORPORATIONS LIKE NIKE HAS HAD TROUBLE ADJUSTING TO THE RECESSION.
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