be popular due to their eco-friendly creation.Entrepreneurial AssessmentImprovement to Under Armour’s current running sock may be the most viable option of the ones presented. First is the simple fact that a runner has to have more than one pair of socks. While in training, a runner is likely to run at least five times a week, if they do laundry once a week that means they need to buy five pairs of Under Armour socks to go with their running shoes. So, this is clearly a profitable endeavor just from the number of socks that would need to be purchased.When setting this product up against the PEST Analysis Under Armour can decide exactly how to produce the running sock in question that runners want. An eco-friendly sock made with organic cotton would fit the pollution factor by manufacturing with the need of a factory. It would also be a product made from renewable resources. Being an eco-friendly company would put Under Armour in good standing with the consumer base as a whole and may29
earn them preferential treatment from some customers who are environmental activists as well asrunners.The PEST Analysis also mentioned that technology was the biggest factor for customers when it comes to buying a running shoe (Runister). It stands to reason these factors would transfer over to running socks too. Under Armour being the leader in innovation should create a running sock that has all the bells and whistles. Moisture wicking, anti-blister technology, arch support, and compression for increased blood flow. Having a running sock with all of these traits could push it to the forefront of running sock and lead to a massive influx of revenue, making theinvestment worth the company’s time.TrendsEco-Friendly ProductsIt was mentioned in the PEST Analysis that pollution caused by the manufacturing of athletic shoes was a significant negative factor. This trend of preserving the environment creates a demand on two fronts. One is to manufacture without polluting the environment with green house gases, the other is to create products that last longer (Maida, 2016). This could be achievedby the recycling of old shoes to make new ones, or by substituting in renewable materials such ascotton in place of materials that need to be manufactured such as rubber or polyurethane. Millennials and Healthier LifestylesTime is a constant that is always in motion. This means that the passing of one generationto the next is always in process, even if it is a slow process. That being said, a shift has occurred and Generation X is no longer the dominate generation. Millennials have become the dominate consumer base, and they have been obsessed with having a healthy lifestyle when compared to other generations (Weinswig, 2017). There are few simpler ways to have a healthier lifestyle than30
running. Under Armour should take advantage of this new, long-term, trend as an increase for demand for their products.