Under armour executive summary

Continue Content: Executive SummaryUnder Armour has grown significantly over the past decade to become one of the most popular sports companies. Its sales have increased with the company increasing its offerings to reach a wider market by diversifying its products. The company has also benefited from collaboration with some of the world's leading sports personalities, and this has allowed its products to appeal to a larger population. These successes have allowed Under Armour to retain control over young customers. The company is a pioneer of clothing performance. The equipment keeps athletes cool, dry and easy during a workout or game. The company keeps athletes comfortable at all times despite the weather. When it's hot, they have HeatGear, in the cold season there's ColdGear and AllSeasonGear for all the seasons in between. Under Armour's brand mission is to make athletes better through design, passion and commitment to innovation. The Under Armour brand is strengthening on a daily basis as the company increases its visibility around the world. Initially, the company focused on the U.S. market, which prevented it from entering the market of other countries. The process of entering new markets outside the country has been slow, but at least some progress has been made. Under Armour recognizes that having a global market for its products is critical to improving profitability. The U.S. market is large, but it is very competitive and dominated by better-known companies like Nike and Adidas. Recently, the company has expanded and opened an outlet in North America in an attempt to clear stocks and enter new markets. The company plans to open more stores abroad and enter other markets. The strategy will allow the company to manage its stock more efficiently and raise awareness of its brandIn the company has experienced significant growth since its founding, there is more room for greater growth. All athletes tried to be on top of their sports participation. Athletes want the best products to achieve their best results. Under Armour strives to be a leader in the sportswear market. They can only achieve this by producing high quality products. Production of high quality products requires Under Armour to conduct research and development to improve the quality of its products. The company should invest in improving its products and invent new ones. Customers are looking for the best products and they are willing to spend their money on buying high quality products. The company must ensure that the products remain at competitive prices. They should not be too expensive and out of the reach of customers. Company... Not exactly what you need? Thank you for your interest in our services. We are a non-profit group that runs this website for document sharing. We need help to maintain this this To keep our site running, we need your help to cover our server costs (about $400/m), a small donation will help us a lot. Please help us share our service with your friends. 1 UNDER ARMOUR IMPLEMENTATION PLAN STUDENT NAME: LECTURER NAME: COURSE NAME: SUBMISSION DATE 2 EXECUTIVE SUMMARY Under Armour is a major supplier of sportswear, clothing and accessories. Kevin Plank is the company's founder and CEO. He founded the company in 1996 when he was a football captain at the University of Maryland. The drive behind its creation was the desire to design superb T-shirts that had the ability to compress and wick sweat from the skin, able to regulate body temperature and improve performance 3 Company is the creator of sunscreen and wind-stopper clothing known as gears. The company has a variety of products for children, women and men to choose (Executive Summary. (2013). His mission is to make all athletes better through design, passion and relentless pursuit of innovation. Complex technologies are behind the success of their mission due to the development of sportswear. Armour has prepared an implementation plan that will be a tool for identifying steps and procedures, identifying problems, costs and activities that will lead to its strategic objectives. 4 This implementation plan is to advertise and market its products. The program is related to the positioning of products in the market and how to improve their market share, given how competent the industry has become. Demographic forces and geographic factors affecting the company were discussed in detail; purchasing behavior, marketing goals and swOT analysis. 5 INTRODUCTION Under Armour is a well-known sportswear and footwear company and is recognized for its high quality products. In recent years, the company has focused on expanding its market share and its business. The company is gaining its success by specializing in compression fabrics, which has been initiating the power of momentum in business colors (Lim, C., Kim, K., and Cheong, Y. (2016). Introducing a new line of products, known as Heat-Gear and Cold-Gear, that consistently keeps athletes comfortable in a variety of environments other than gear. 6 The company has several goals, both long-term and short-term. Clean and arrived. As for concept of transmission performance, the company will need a plan to successfully implement this project to achieve its strategic goals. 7 Analysis of the situation (factors that can convince the audience)Competition under armour participates in a real gaming atmosphere, despite the fact that there are several dominant companies in the market. The market is clean because companies sell the same products at the same prices (Lim, C., Kim, K., and Cheong, Y. (2015). The main competitors under armour are Nike and Addidas, whose revenues are estimated to be as much as 25 and 19 billion respectively far beyond the armor. income growth. Adidas' neoconservate behavior gives Armour an opportunity to expand its market share, and negative competition trends continue to benefit Armour. 9 Economic Factors There is an obvious growth of the sportswear market giving under armour opportunities to increase their income. While the sportswear market may continue to grow, under Armour can not succeed capitalizing on it offers high prices for their products compared to their competitors. Therefore, market growth can be beneficial to generic and cheaper companies, rather than original and more expensive companies such as Under Armour. 10 With the high unemployment rate in the U.S., spending rates will also decrease, and consumers will prefer cheap and lower-quality sportswear rather than spending more money on a quality product. People's fear of losing their jobs is a negative trend for a company that considers it higher. The potential huge profits will come in case the market grows with the economic recovery 11 Social Factors Healthy Lifestyle is the desire to be accepted by most people (Lim, C., Kim, K., Chong, Y. (2016). And with this trend, armor should expect booming sales including women's performance clothing. Under Armour initiated a campaign of women athletes, which aimed to redefine female athletes. Under armour through this campaign has managed to build its reputation and boom sales. This competition is seen as a way of advertising considering sports for women becoming visible. 12 Regulatory factors All companies in the U.S. face the same rules as protecting acts for consumers from monopolistic activities. With market rules, the government can maintain fair competition. Business is affected Rules. Corporate use manufacturers produce most of their products, In order to keep product prices competitive (Kapoor,., Kapoor, R., Kapoor, S. (2011). Given that these companies cover foreign labor, laws restricting this kind of work will be harmful, especially under armor. because with the help of technology they got their starter advanced materials. Currently, the same materials pose a threat as a result of external forces such as Clima-Cool for Addidas and Dri-Fit for Nike both use similar materials as under armor. The lines of these competitors under armour have lost some of their consumers mainly to those interested in compression gears. The same technology that brought customers under armor, the same that drifts them into the hands of competitors. 14 SWOT analysis (strategically selected and detailed information)Strong under armour is considered a leader in the sports apparel industry because of its many forces. Its online sales are strong, earned customer loyalty, innovative culture, strong product recognition and high brand capital. Employees are encouraged to work daily and the attractiveness of the basketball field at the headquarters. This culture brings smart and talented young people under Armour staff to work for the company. Their high quality is also available in the sporting goods market. 15 Under Armour good reputation give it a good image because it's not showing negatively in the media, unlike Nike, which is associated with the slanderous use of sweatshops. This image is in connection with the armor code of ethics, which requires its manufacturers to hold on to the quality and conditions of the products strictly. The fact that Armour is still in the growth phase is an advantage because it will continue to grow. Nike does a good job while Adidas has been inconsistent. These strengths reflect why under armour they grow rapidly. 16 Weaknesses under armour, weakness is based on the reality of high prices, lack of line setting, limited product range, and no focus on women and has not gone globally. The company manages its online sales, but has not introduced a setting on its website. It remains a mystery why the company cannot use the available technology for personalization. Only a quarter of their sales come from women's clothing, and the company is stepping up efforts to improve the line through campaigns. The company's focus is on domestic market share. Its foreign market share is too limited and requires the expansion of 17 Opportunities Armour, which can increase its market share. the company's market is too small, which may be the result of share of the domestic market. Since the company works well domestically, it should consider it the right time to expand its market to the international market. The company's target market is growing and will continue to grow because people are resorting to a healthy lifestyle through exercise. Armor should increase its production and product line. 18 Threats There are various risks to overcome for armor to become successful. After competitors saw how useful fabrics were under the armor, they began to use the same materials for their developments and productions. What this piggyback from competitors is a risk to under armour. Armor prices are relatively high and any fluctuations can have a negative impact on sales. In the event of another downturn, the situation may be even worse for the armor to be a supplier of essentials. 19 Marketing segmentationUnder Armor aims to target men, women and children who want to stay in shape and in shape, unlike its previous goal, which was young groups, especially at the college level. The company is focused on high-income and financially stable people who can afford their expensive products. (Research on the development of College Sports Learning Trends according to Sunlight Sports Background. (2016). Creating their wholesale stores mainly in areas where people are rich and stable. The selective distribution method will be used specifically for unique products. The recovery of the U.S. economy after the recession is improving day by day, and this recovery stabilizes many families and will afford these products 20 Consumer Shopping Behaviors When consumers understand their needs and want for sportswear, they are looking for information from the Internet, friends and magazines and can access the advertising stores of the company. Customers then compare the cost of Under Armour products with those of competitors. Fabric value is a differentiation factor under the armor of clothing that are dry and warm. Finally, the customer decides to purchase and finally behavior after purchase to determine their reactions after using the product. If the products are attractive, the customer develops brand loyalty and he prides himself on the satisfaction of his customers. Under the armor provides a refund in case of customer dissatisfaction. 21 Under Armour aims to lure customers through commercials and billboards. The decision to buy includes subjective and objective criteria. Armor must match its competitors in a variety of ways such as size, price and comfort-ability and performance enhancing clothing. Customers also go for style and deign in clothes that are attractive as jerseys regularly under the armor. Customers can pay with a credit card, or on contract terms, depending on the need and functionality, as well as costs and benefits. 22 Marketing Mix Product StrategyPerformance Gear is the latest and with Technology is pride under armour (THE MARKETING MIX: OVERVIEW. (2014). Their unique fabric is a distinctive factor from the brands of their competitors. Under armour there is thermal equipment for hot sunny conditions, cold equipment for cold climate and storm gear for wet seasons, and they all have copyright with little difference. The products are fashionable and available in new styles and. Their stock and reputation has built up a good relationship with consumers 23 Price Strategy Under Armour uses value-based performance and compression gear systems that are used as a top-line product to build the company's reputation. Their compression gear is the best reflecting of its relatively high prices. The company seems to associate with the high cost, which predicts their prices. The pricing system is effective for the target market, which is athletics and focuses on the cost and performance of the 24 Advertising Strategy The Company includes sales staff in its stores that are related to personal sales. Product marketing also includes advertising in TVs through commercials by prominent athletes for spectators to connect products such as I'll Campaign, Internet, Billboards mainly for passengers, magazines and sponsorship. Public relations also participate in marketing and community campaigns, indulging in public issues. Sales stocks such as discounts and coupons and press releases that constantly update investors. 25Under Armour's channel distribution strategy uses the hybrid distribution channels that entails; indirect (web sites) and direct (shops) channels. Most of their sales come online, especially for wholesale and in-store sales. Under the armor, choose a store to deliver your products. This choice concerns recognition and size, as it prefers large shops and national companies. 26 Implementation Company will select a project team that is competent to oversee the implementation process. The company has a strict code of ethics that ensures that employees adhere to their mission during the application process. In addition, the training and development program has been improvised to make sure the team acquires the correct skills and behaviors needed to implement. Executives will liaise with sponsors and stakeholders to make sure the app depends on their opinion. Continuous consultation with qualified and talented leaders available The Company should develop a simple product line setting. Armor should take risks in sponsoring famous and famous athletes. The company should invest in the expansion of the international market. In addition, armor should enter into a partnership with a stable and potential technology company. Finally, it should open more factory stores. 27 Score MonitoringDevelopment of periodic meetings, i.e. quarterly and weekly, will meet to discuss progress in implementation. Metric procedures will be adopted for the evaluation. The project team will also meet to ensure that the views and suggestions of the group members are expressed. Management managers have developed a risk management program in the event of uncertainty. 28 Links Research on the Development of Trends College Sports Training under Sunlight Sports Background. (2016). International Journal of Science and Research (IJSR), 5(2), doi: /v5i2.nov161090 Summary. (2013). New areas of youth development, 2013 (140), 5-8. doi: /yd.20075 Lim, K., Kim, K., Chong, Y. (2016). Factors influencing the behavior of buying sportswear: a comparative analysis of luxury sportswear. Journal of Business Research, 69 (12), doi: /jbusres Lim, C., Kim, K., and Cheong, Y. (2015). FACTORS INFLUENCING THE BEHAVIOR OF BUYING SPORTSWEAR: A COMPARATIVE ANALYSIS OF LUXURY AGAINST CONVENTIONAL BRANDS OF SPORTSWEAR. Global Fashion Management Conference, 6(2), doi: /gfmc THE MARKETING MIX: A REVIEW. (2014). ELK Asia Pacific Journal of Marketing and Retail Management. doi: /eapjmrm/issn/2014/v5i4-03 Kapoor,., Kapoor, R., Kapoor, S. (2011). SU-E-T-26: Automated plan evaluation system: design and implementation. Medical Physics, 38 (6), doi: / /

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