Ethan Panzer MGT 401 Section H Under Armour Case 1. Describe the major components of the company’s strategy in the following areas a. Product Line: Offering products at multiple price points, Under Armour hopes to gain an increasingly large market share in its three main segments sports apparel, active wear, and athletic footwear. In apparel Under Armour focused on three major categories Heat Gear, for hot and warm temperatures, Cold Gear, for cold weather, and All Season Gear for year round performance. In each line Under Armour stressed the material and design superiority of its product whether it be for the cold to wick moisture away from the body while circulating heat through the body, or the heat where the material stresses cool, dry, and light.
Society and community have an important impact in the decision of the consumers. In this globalized modern world the social factors are as influential as the psychological. Economics, culture, trends, peer pressures, to mention some social factors are influential in the products and services that consumer purchase. This document explores the consumer behavior and its nonstop process. The authors provide an analysis of the influence of consumer purchasing, the increase of shopping centers across the United States and Europe, famous trademarks, among other social manipulations are constantly changing the mindset of the different
Companies like Gatorade, Nike, and Under Armour place their products on athletes to increase the sales of their merchandise. Athletes endorsing merchandise can be trace back to 1921 when Chuck Taylor signed with converse. This set precedent for other superstar athletes who followed, athletes like Michael Jordan and Julius Erving to name a few. “In the 1930s, Converse……added Taylor’s name to the All Star ankle patch. This broke down walls as the first sneaker bearing a player’s name.” (Osei-Dwunmoh) Nowadays athletes get more than just their names on sneakers and fan apparel.
Search engines are the driving source for online shopping. When consumers can type in a name of a product and click search hundreds of stores come up with pricing of the product. People like choices, and would rather search through the web for the best product and pricing. Associability plays key role in the success of companies. Companies have to pay a huge price to have their store front at the top of the search list.
Influences on operations management have multiple effects on businesses. An understanding of external influences can help a business be able to manage and respond to them efficiently by implementing various strategies which can make a business successful. Influences on operations management include Globalisation, quality expectations, cost-based competition, technology, government policies, legal regulations and environmental sustainability. Globalisation refers to the removal of trade barriers between nations, and is defined as the integration and interdependence of national economies forming a global economy. Apple recognised early advantages of globalisation and implemented various strategies to expand internationally which results in wide range of their stores all over the world now.
Big companies try to capture the whole market, whereas small businesses target a specific niche. More importantly, there are a few dominant players (i.e. Nike, Adidas, Under Armour) that already have a significant grasp of the market. Since the sportswear industry is a mature market, companies try to expand their customer base by spending a large amount of cash flow on product innovation, advertisement, and sponsorship. The companies especially try to attract customers from competitors, making the competition even more intense
Degree of competition The degree of competition is very important for a business as it determines their Market share of the industry and their pricing strategies. And also affects the success of a company in achieving their aims and objectives. What is competition? Competition is the amount of firms selling similar or rival products within a market. A market is where producers (like Tesco) and consumers (the customers) trade, e.g.
Rampant Consumerism Consumerism is considered to be a life style to the modern population. In todays society rampant consumerism is at an all time high due to evolution. Currently newly introduced products are becoming an essential to life. Consumerism is profited by commercialism using the social network to force product to people, Industries offering online shopping, and societal trends. Today's mass Commercialism plays a big role in assisting the profit of consumerism.
Whatever change takes place in one country’s market that directly or indirectly make an effect on another country’s market. In this dynamic world companies are constantly working hard on innovation and sophistication, to keep the pace with the changing environment. Furthermore, the technology is playing a very big role in the sportswear market, because people are very keen to maximise the every possible use of technology and more aware of the surroundings than they used to be. Objectives: This report is to identify how the sportswear market has changed over the last decade or more, to explain the marketing planning tools (Boston consulting group’s product matrix and Ansoff’s growth matrix) to help Nike developing marketing objectives and strategies, and the potential advantages of Nike, if they move towards geo-demographic segmentation to expand into the UK football market. Task a United Kingdom’s
| | | INTRODUCTION One of the prevailing trends in today’s global market is the internationalisation of businesses. Businesses are experiencing growth in their foreign operations more than they do domestically. Automobile companies for example are experiencing stiff competition in the global market. In order to combat these undesirable trends and achieve superior performance, businesses need to come out with valuable strategies so as to better exploit and expand in the global market. A good strategy is a key component to the success of any company internationally and domestically.