Under Armour Executive Summary
Under Armour
Team Developed Strategic Plan
Executive Summary
TEAM D
MGMT 479
October 5, 2014
STRATEGIC ALTERNATIVES
ALTERNATIVE ONE
Changes in the way consumers spend and what they purchase provides a large opportunity for Under Armour to exploit new markets. Expanding widening product lines for women and exploring unexplored territories could jump start UA is looking for. By expanding into China UA may be able to maximize profit while gaining new business. Under Armour seeks to drive consumer demand for their products by creating and building brand equity and awareness as the leading performance athletic brand. China, the Middle Kingdom’s rising stars present possible sponsorship opportunities. The …show more content…
After careful research of both internal and external environments as well as performing a strategic analysis of Under Armour, our team recommends that Under Armour expand internationally, starting with China. This strategy will increase growth of the company and make UA competitive internationally. China’s sporting goods industry revenues have quadrupled since 2006 (China Sporting Goods Industy Report 2010-2011, 2011). By moving into China, Under Armour can tap into a share of the $14.5 billion market industry that is currently led by competitors Nike and Adidas. Moving into China will require using key functional strategy elements such as marketing, operations, and logistics strategies. Of course, the remaining strategies such as financial, R&D, and purchasing also play important roles, however the aforementioned strategies have a larger impact due to Under Armour starting from scratch in China. By successfully breaking into the Chinese sporting goods apparel industry, Under Armour will then be able to replicate that process in other key locations around the globe, thus exponentially growing the Under Armour …show more content…
By taking the most popular athletes out there today and offering them products made by Under Armour and having them showcased in the public’s eye. Not only is this a great marketing tool but at the same time it is cheaper. With China’s recent success in the Olympics and other worldwide sports we have decided to fit some of China’s best athletes with Under Armour products and market them to the people of China. Not only will this give us advertising in the country but also get our products into the hands of athletes that have never been sponsored or given access to such products. As with all phases of implementation this will be one that Under Armour plans to tackle fast not only to get the products out into the hands of that market but to also capitalize on the upcoming Olympics and other large sporting events that China is hosting this
Team Developed Strategic Plan
Executive Summary
TEAM D
MGMT 479
October 5, 2014
STRATEGIC ALTERNATIVES
ALTERNATIVE ONE
Changes in the way consumers spend and what they purchase provides a large opportunity for Under Armour to exploit new markets. Expanding widening product lines for women and exploring unexplored territories could jump start UA is looking for. By expanding into China UA may be able to maximize profit while gaining new business. Under Armour seeks to drive consumer demand for their products by creating and building brand equity and awareness as the leading performance athletic brand. China, the Middle Kingdom’s rising stars present possible sponsorship opportunities. The …show more content…
After careful research of both internal and external environments as well as performing a strategic analysis of Under Armour, our team recommends that Under Armour expand internationally, starting with China. This strategy will increase growth of the company and make UA competitive internationally. China’s sporting goods industry revenues have quadrupled since 2006 (China Sporting Goods Industy Report 2010-2011, 2011). By moving into China, Under Armour can tap into a share of the $14.5 billion market industry that is currently led by competitors Nike and Adidas. Moving into China will require using key functional strategy elements such as marketing, operations, and logistics strategies. Of course, the remaining strategies such as financial, R&D, and purchasing also play important roles, however the aforementioned strategies have a larger impact due to Under Armour starting from scratch in China. By successfully breaking into the Chinese sporting goods apparel industry, Under Armour will then be able to replicate that process in other key locations around the globe, thus exponentially growing the Under Armour …show more content…
By taking the most popular athletes out there today and offering them products made by Under Armour and having them showcased in the public’s eye. Not only is this a great marketing tool but at the same time it is cheaper. With China’s recent success in the Olympics and other worldwide sports we have decided to fit some of China’s best athletes with Under Armour products and market them to the people of China. Not only will this give us advertising in the country but also get our products into the hands of athletes that have never been sponsored or given access to such products. As with all phases of implementation this will be one that Under Armour plans to tackle fast not only to get the products out into the hands of that market but to also capitalize on the upcoming Olympics and other large sporting events that China is hosting this