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Under Armour Enters the Basketball Shoe Market Under Armour Enters the Basketball Shoe MarketGenesis Palmero, Fansico Parra, Nicole Jaramillo, Stephanie Alonso, Christine Cabreja, Jared Malagon, and Jose AcostaFlorida International University
Under Armour Enters the Basketball Shoe Market Under Armour Enters the Basketball Shoe MarketDiscussion AnswersQuestion One: Under Armour (UA) is a great example of a company that started fromzero and became an international icon in a relative short time. It all started in 1996 when KevinPlank, a University of Maryland football player, was tired of wearing cotton clothing duringpractices and he knew his teammates felt the same way. An article titled “How Serial InnovatorsFind The Best Problems To Solve” written by Dr. Abbie Griffin, holds the Royal L. GraffPresidential Chair in Marketing at the University of Utah’s David Eccles School of Business,Raymond L. Prince, holds the William H. Severn's Chair of Human Behavior in the College ofEngineering at the University of Illinois Foundry for Innovation in Engineering Education, andBruce A. Vojak, an Associate Dean for Administration in the College of Engineering andProfessor of Industrial and Enterprise Systems, talks about how serial innovators look forproblems that customers are willing to pay for if fixed not opportunities(Fast Company). KevinPlank found a problem that he experienced himself, knew that his teammates as well as otherathletes felt the same way and found a way to solve it. Kevin Plank was already up to asuccessful start. The next big moment of Under Armour’s success and growth was in 1998 whenthe brand had national exposure for the first time. Under Armour provided products for themovie titled “Any Given Sunday” and purchased a full-page ad in the ESPN sports magazine.The movie was an American sports drama film and ESPN is a sports magazine, by doing thisUnder Armour officially entered the competitive industry of sports brands. Due to the founder’searly network of football players by 2003 almost every player seemed to be wearing UnderArmour clothing in locker rooms which led to ESPN to ask the brand to be part of a series called“Playmakers”. Under Armour featured “Big E”, Eric Ogbogu, an NFL football player on their
Under Armour Enters the Basketball Shoe Market “We must Protect This House” commercial which became incredibly popular. Under Armour’scampaigns, international exposures of the brand, and early network of football playerscontributed to the growth and success of the brand. In 2005 Under Armour went “public” for thefirst time, meaning that the company went from private to public to sell stocks shares in theirfirm. Mark Koba, senior editor of CNBC, said in his article titled “Initial Public Offering: NBCExplains” that going public “it’s simply a money-making move. The idea is to raise funds to havemore liquidity or cash on hand by selling shares publicly”. When Under Armour went public thestock nearly doubled the first day. Now a days depending on the ups and downs of the market