Under Armour's Marketing Plan.doc - Running head UNDER ARMOUR’S MARKETING PLAN Under Armour’s Marketing Plan Bianca D Tran BUS 330 Principles of

Under Armour's Marketing Plan.doc - Running head UNDER...

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Running head: UNDER ARMOUR’S MARKETING PLAN Under Armour’s Marketing Plan Bianca D. Tran BUS 330 Principles of Marketing Professor Tracy Foote July 19, 2019
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UNDER ARMOUR’S MARKETING PLAN 2
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UNDER ARMOUR’S MARKETING PLAN 3 Under Armour’s Marketing Plan Brand or Company Description Incorporated in 1996, Under Armour, Inc. is an American based business headquartered in Baltimore, Maryland. Generating a net revenue of 5.2 billion USD globally, Under Armour, Inc. specializes in the manufacture of sports, footwear, and casual wear. Core Products or Services The four major trademarks of Under Armour, Inc. include HEATGEAR, ALLSEASONGEAR, UNDER ARMOUR, and COLDGEAR, together with the "Under Armour" UA Logo ( Reuters, 2019 ). The company began offering footwear to its clients since 2008, and in 2010, it started manufacturing basketball shoes, which are a sector dominated by its competitors (Bedoshvili, 2011). A Brief History Kevin A. Plank founded Under Armour Inc. on 1 st July 1996. Over time, Under Armour expanded and started diversifying its product line. In 2003, Under Armour launched Women's performance gear product line ( Reuters, 2019 ). Furthermore, in 2012 Under Armour introduced ‘'Under Armour Scent Control'', which had scent control technology to make the user's scent undetectable. In North America, Under Armour Inc. had about 151 factory house stores and 18 brand house stores by the end of 2016 ( Reuters, 2019 ). As of 2018, the company had about 15,800 workers. Under Armour, Inc. revenue grew from 281 million USD (2005) to 4977 million USD (2018). Key Current Competitors The primary Under Armour’s competitors is Adidas and Nike ( Reuters, 2019 ). Others include Reebok and Puma. Although the company is relatively smaller while compared to its
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UNDER ARMOUR’S MARKETING PLAN 4 rivals, its differentiation approach has enabled the company to realize significant competitiveness. In addition, the marketing strategy of utilizing sponsorship agreements favors Under Armour’s business success. SWOT Analysis SWOT Analysis: Strengths Strong Financial Position Under Armour’s net revenue has continued to increase in a positive and stable pace with a surge to 5.19 million USD in 2018 from 4.8 million USD in 2016 ( Reuters, 2019 ). Additionally, the cost per share for the company has increased to 7.7 USD in 2018 from .3 USD in 2016, which implies that the public has positive expectations for the organization. Innovation and Digitization Under Armour has focused on the adaptation of digital applications that include Endomondo (fitness app maker), MapMyFitness, and MyFitnessPal (calorie and nutrition app) ( Business Strategy Hub, 2019) . Again, the company innovated polyArmour, which is a combination of polyester and elastane, benefits the athletes. Basically, the organization focuses on developing innovative technologies for the satisfaction of the clients through continuous research and development.
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