How much does Nike spend on advertising a year?
Since the late 80′s, Nike has been a marketing giant. With high profile names like Andre Agassi, Bo Jackson, and of course, Michael Jordan to back Nike up; how could they ever lose? So with that being said, how much does it cost for Nike to stay ahead of the competition?
According to Matt Powell, Nike spends about $2.8 million on marketing. To really put it into perspective, it’s about $8 million a day, or $300,000 per hour, or $100 a second. Whoa..That’s a lot of dineros spent for marketing. With Nike controlling the majority of the market and bringing in $21 billion in sales, let’s just say it’s money well spent.