3. When Kevin Plank created Under Armour, he had a vision set in mind.
Innovation of sports to push athlete to new limits. The vision was created in
Baltimore Maryland of 1996. With the beginning of the wicked shirt. The
creation led to athletes feeling a difference in performance with sportswear
technology. With this innovation the Under Armour brand began releasing
more products such as HEATGEAR to create for outdoor conditions.
Conversations surrounded the company and got their big break in 1999 with
the celebrities Al Pacino and Jamie Foxx using the Under Armour gear in the
film “Any Given Sunday”. The following report is a company overview of
Under Armour. Under Amour’s background will be analyzed based on its
growth from the apparel brand in different aspects of financial, community
growth, and Products. Further research into Under Armour the company
shows their interest within their outreach to specific target markets. This
shows it’s through evolved market campaign strategies, competition is a
focus both directly and indirectly. With understanding the company’s
competition, the further exploration into reaching fans more efficiently and
quickly to consumers. Throughout the years innovation became an idea for
apparel in active sportswear. Under Armour lives and pushes athletes to their
limits in this company. Under Armour displayed multiple changes through
different multimedia target markets. Over the years Under managed to
continue innovation for athletes and integrate community growth.
Executive Summary
4. Company Backgrounder
The following report is a company overview of Under
Armour. Under Amour’s background will be analyzed based
on its growth from the apparel brand in different aspects of
financial, community growth, and Products. Further research
into Under Armour the company shows their interest within
their outreach to specific target markets. This shows it’s
through evolved market campaign strategies, competition is
a focus both directly and indirectly. With understanding the
company’s competition, the further exploration into
reaching fans more efficiently and quickly to consumers.
5. Under Armour began out of the University of Maryland. Under Armour was
founded by Kevin Plank, he created sportswear introducing sweat-wicking
technology for athlete to use in training and sporting events in 2001 the NHL and
MLB licensed Under Armour as the primary brand for their sporting events.
In 2003 Under Armour began a new marketing campaign to further boost their
brand further by creating the “Protect This House” national TV advertisement.
Creating this advertisement further developed a relationship with the University
of Maryland by becoming the official outfitter for the universities athletics
department in 2004.
In 2005, Under Armour became a publicly traded company on the New York
Stock
Company Beginning
When Kevin Plank created Under Armour, he had a vision set in mind. Innovation of sports
to push athlete to new limits. The vision was created in Baltimore Maryland of 1996. With
the beginning of the wicked shirt. The creation led to athletes feeling a difference in
performance with sportswear technology. With this innovation the Under Armour brand
began releasing more products such as HEATGEAR to create for outdoor conditions.
Conversations surrounded the company and got their big break in 1999 with the celebrities
Al Pacino and Jamie Foxx using the Under Armour gear in the film “Any Given Sunday”. The
following report is a company overview of Under Armour. Under Amour’s background will
be analyzed based on its growth from the apparel brand in different aspects of financial,
community growth, and Products. Further research into Under Armour the company shows
their interest within their outreach to specific target markets. This shows it’s through
evolved market campaign strategies, competition is a focus both directly and indirectly.
With understanding the company’s competition, the further exploration into reaching fans
more efficiently and quickly to consumers. Throughout the years innovation became an
idea for apparel in active sportswear. Under Armour lives and pushes athletes to their
limits in this company. Under Armour displayed multiple changes through different
multimedia target markets. Over the years Under managed to continue innovation for
athletes and integrate community growth.
History
7. Under Armour’s target markets focus on the upcoming talent. Talent focusing on
the younger athletic communities to create a constant flow of market with new
potential customers
Potential Target Markets.
Under Armour will target Gen-Z coming to Under Armour in the foreseeable future. Gen-Z
have stepped forward in their own independent research to consider their livelihood and
financial statuses in long term situations. Millennials are the youngest demographic behind
the Gen-Z and hold similar values to receiving information on products. However with
opposite approaches on trust of advertisement through YouTube and traditional television.
This young group is on a path of innovation and personal financial security and peace of
mind. Introductions to new digital has led to more online usage as well. (GenZWPStudy)
The market for Under Armour showed a loss in sales(-8.77%) shows a downturn on
investors.When analyzing further there was a change in sales amongst the youth. Focusing
on Gen-Z and Millenials more can help bridge Under Armour’s deficit(-12.49%). Companies
such as Vans and Nike have different outcomes. Vans(-2.94%) and Nike(-3.20%) showed
less loss of sales due to unstable markets. However, the difference between Under Armour
and it’s competitors showed in the difference in the volume of sales lost.
Under Armour has shown a downturn in the fourth quarter of the market. Only earning
revenue is lower than last year’s minimal price range.($109.66 Min. Q4 Vs. $184.45 Last
Year). The overall revenue of Under Armour showed an increase in sales(Q4:$1.53 Bln vs.
$1.40 Bln LY).n Major reasons for Under Armour sales reveal that most of their sales are
generated mainly by apparel sales.
In the eyes of the new generation Trust between companies and consumers are at an all-
time high. Generation Z let their voice be heard in equality and inclusion of all walks of life.
Increasing the community role in educating the youth at this time allows a sense of family
and empowerment of the Under Armour brand providing services and community projects
(UnderArmour).
8. Under Armour’s target markets focus on the upcoming talent. Talent focusing on
the younger athletic communities to create a constant flow of market with new
potential customers
Customer Profile
9. Marketing Goals/Objectives/Strategies
Under is dedicated to creating better vision for branding in the eyes of the millennials. New
insight of Under Armour’s presence in the eyes of the millennials will create a new identity
for the young athletes.
Goal
Objective
Strategies
Increase Latin American sale by 10% in 2024
New athletic figures that are new to the brand can create a closer aim for Gen-Z to
create a new engagement
Allowing a new sense for style with their innovative products
Create programs with Latin athletes sponsored with the brand
Survey the needs of what the community is interested in for developing a facility
Push for more investors by 15% by 2030
Create a newer marketing campaign entering the new decade.
Understand rebranding involved creating new slogans
Produce more community facilities ran by Under Armour in underdeveloped sporting
areas
Find more investors in areas that are in search of community sports improvement
11. Promotional Mix
Social media marketing has changed the language of digital marketing all across the
globe. Under Armor would gain a huge profit increase, if they used these different
platforms to reach the masses of consumers. Having the ability to have an established
company of active wear and athletes that are already sponsored, would help be in the
faces of consumers more frequently, and increase the probability of a sale. The creation
of QR code facilitates the transition of the social media marketing, with just a simple
camera scan, the consumer may add or follow the company's website or page,
increasing the CMP by 40% every sale quarter. The average fabrication for branding QR
tags is 0.20 cents more than standard, and shall increase profits. Facebook, Instagram
and Twitter, are marketing exposEs across the globe, giving the company more views
and exposure. Using athletes and cultural representation creates comfort and desire to
purchase the product as well, with the emotional and psychological approach. The
average person checks their social media at least twice in 60 minutes. Frequency and
consistency is key to successfully use these tools properly and effectively. Also
partnering with ambassadors or high school sports teams creates a cultural influence on
younger generations.
Budget: $10-15K per month x12 = $180K
Social Marketing
A T.V Ad compiles information, and messages to the consumer in 15-60 seconds video, the
ultimate goal is for them to adapt and accept the company and its products, to later for a
purchase leading torevenue. This style of marketing is a classic yet traditional and
efficient way because it's appealing and television is not only in everyone's corner, but also
in their homes, travel settings, and mobile devices. A photogenic brand with memorable
athletes and abstract colors will form a memory to consumers. Creating a commercial and
letting it be streamed through television and other streaming platforms gives the company
another avenue to create higher revenues. Although production and contracts and editing
costs are high, the legacy and mark will concrete the brand far more in the long run. This
will appeal to the active community and fashion to come and partake in the Under Armor
experience.
Budget: $150,000 per season x4 = $1Mil
Broadcasting Television
12. An influencer is a person with a high volume of followers in whatever platform they are
based from. This is a transition of just standard sponsorship of digital marketing. This
gives the ability to showcase the product more intimately to consumers, seeing a familiar
face and hearing their opinion and reviews of the product. Most influencers already have
their own style and ways to promote the item at hand. Checking durability, quality, and
proficiency would be the base of the review, and also as a company use the critique to
better out products, and leading to more consumers and secure sense of revenue while
keeping up with trends. With so many social and streaming platforms, videos go viral every
2 minutes, and later become its own trend. Partnering with various people with diverse
backgrounds gives a sense of humility and comfort.
Budget $1K-18K per month x12 = $216K
Influencer Marketing
Promotional Mix(Cont.)
17. Conclusion
Under Armour’s vision statement is “to make all athletes better through
passion, design and the relentless pursuit of innovation.” Within the
company, there is an emphasis on making athletes better by presenting
multiple products across the sports industry.
Products from Under Armour all show products of their highest
quality. Athletes of different sports backgrounds create a trust behind the
company’s continued passion to push athletes with high quality products.
Under Armour pursuit for originality shows in the use of unique
designs within the company itself. Continuous work and designing creates
memorable designs for the athletes to continue and improve their skills.
Innovation is the key foundation and principle behind the company.
The innovation behind Under Armour include the new perspective of
footwear. With Under Armour creating multiple with original designs
accompanied by multiple designers to keep athletes engaged in the
company’s innovative outlook.
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