Evaluating Mission Statements A mission statement is a summarizing statement of a company ’s reason for being‚ what it really does‚ and for whom. It should encompass what products and services the company produces for which target market‚ as well as how it contemplates itself to be different or unique than others. It should not have statements of values‚ strategies‚ or objectives (although many companies make this error)‚ but could have the company ’s customer value proposal. A mission statement
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DISCUSSION QUESTIONS‚ CASE INTRODUCTION AND KEY POINTS Introduction Under Armour’s rapid rise in the sports apparel industry under its founder and CEO Kevin Plank has surprised many. Plank has turned a company that he started in his grandmother’s basement into a powerful opposing force to Nike. The company’s competitive advantage comes through its focus on performance‚ and its products have been well received by athletes. The company currently enjoys a strong position as professional athletes
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The Under Armour is a leading American sports clothing and accessories company. All of Under Armour’s products are based on its mission statement‚ “To make all athletes better through passion‚ design and the relentless pursuit of innovation”. It uses smart marketing technique to invite it fans and followers to buy its products‚ and clears away any barriers that the customers faces when making a purchase. As a result‚ the company generates more leads and more revenue. The Social media is an excellent
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1. a. Under Armour’s major competitive advantage is in its product concept. It produces athletic gear that enhances the performance‚ uses high-tech material that gives clothes a snug fit and wicks away moisture‚ keeping athletes cool‚ dry‚ and feeling “light”. It has a unique product. b. It frequently uses free endorsements. c. It has achieved a very rapid growth in a short period of time. It’s revenue has increased by almost 6 times between 2003-07. d. Under Armour brand is identified with performance
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Under Armour is a leading athletic clothing line directed towards the overall athlete who is looking for the most comfort during extracurricular activities. The mission of the company is‚ "to provide the world with technically advanced products engineered with exclusive fabric construction‚ supreme moisture management‚ and proven innovation. In short‚ every Under Armour product is doing something for you; it’s making you better." Founded in 1996 by University of Maryland graduate Kevin Plank‚ Under
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affected Under Armour since the company’s establishment in 1996. Under Armour is most commonly known for its performance apparel‚ footwear‚ and accessories sold worldwide. Though fairly new‚ Under Armour has increased their stock price by more than 20% in the last three months as stated in‚ “Under Armour Through the Lens of Porter’s Five forces.” After introducing a new footwear collection in 2006‚ Under Armour’s net sales skyrocketed making them a force to be reckoned with. Despite Under Armour’s
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b. Distribution: Under Armour is definitely a company that allows their customers to deeply think about their product before making their purchase. They strive to distribute their product at the most efficient speed‚ so that their company can increase its value. The company sells their products from their website‚ www.underarmour.com‚ and in stores. However‚ their merchandise is also sold at larger distribution stores‚ like Dick’s‚ Nordstrom’s‚ Sport’s Authority‚ and Macy’s. They use a selective
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Under Armour‚ Inc. : Company History In 1996‚ as a football player at the University of Maryland‚ Kevin Plank grew tired of the cotton t-shirts he was provided becoming soaked with sweat and rain‚ impeding his ability to move fluidly as a special-teams player for the Terrapin football team. Knowing that cycling outfits and football under shorts were made with a "moisture-wicking synthetic fabric"‚ Plank believed it possible to make a t-shirt out of such material. He observed the content label of
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his first team sale to Georgia Tech. By 1997‚ 12 NCAA Division 1-A teams and 10 NFL teams were wearing the gear‚ and Under Armour made its first appearance in the Super Bowl when the Green Bay Packers defeated the New England Patriots. When this happened Plank moved his company headquarters to South Baltimore‚ and set up a manufacturing plant six blocks away. That year Under Armour developed five other product lines Cold Gear‚ Loose Gear‚ Turf Gear‚ All season Gear‚ and Street Gear to cover every
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Under Armour – Challenging Nike in Sports Apparel Zenith Shrestha 000722986 Section 1 Under Armour has dominated the performance apparel market in recent years. They have used innovative technology and created a product that is high in quality and has gained a lot of customer support from its target industry. Their strategy of producing climate favorable‚ Athlete friendly‚ fitting sizes apparel made of moisture-wicking polyester-blend fabric ensuring high quality has been working to good effect
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