Question

Under Armour executive summary, three paragraphs?

Answer 1

We are relentless in our pursuit to better leverage the Under Armour brand across broader categories such as footwear and deeper into international markets” stated Under Armour CEO Kevin A. Plank in a 2010 press release (Business Case Journal, 2012). Despite such aspirations at the turn of the decade, Under Armour has yet to fully penetrate the footwear market successfully. Since the company’s founding in 1996, Under Armour has established a reputation within the athletic sportswear and equipment fields, particularly specializing in the production of synthetic moisture wicking fabrics and compression shorts (Business Case Journal, 2012). When footwear merchandise did not sell as well as apparel, Under Armour was faced with the challenge of mediating the balance of profitability from all of its product sectors. With the profitability of Nike and Adidas, Under Armour has continuously struggled to compete in the footwear market. These companies are the top two producers of athletic footwear year after year, collectively controlling over 63% of the market.

With the profitability of Nike and Adidas, Under Armour has continuously struggled to compete in the footwear market. These companies are the top two producers of athletic footwear year after year, collectively controlling over 63% of the market (Van Riper, 2013). If Under Armour fails to seamlessly add footwear to their collections, they will overtime completely disappear from the market and loss relevance. Additionally, other brands are providing cheaper alternatives to apparel and footwear that appeal to consumers during times of economic hardship, further hindering Under Armour’s sales. By assessing the threats and opportunities in the environment in which the company exists and understanding the strengths and weaknesses of their business strategies, Under Armour can move towards establishing themselves equally across all realms of their merchandise. Following these assessments, the company can segment the market into groups according to common needs and uses of products, therefore facilitating the positioning and targeting of merchandise to yield higher profits.

After completing our research on Under Armour, we found many ways in which they could work to increase their market share. Under Armour first, needs to work on supplying a wider variety of shoes, such as casual wear, to keep up with their current competitors such as Nike. They also must focus more of their attention on the female market and allowing customers to more easily access the brand, increasing distribution through new store locations. Their use of endorsements has been beneficial in targeted areas for Under Armour so far, so an increase in endorsement efforts in other sports will help to not only spread brand awareness but also increase brand equity.