Instructions:
Throughout this course you have explored all elements of a marketing plan. Now it is time to put your marketing plan together for the company you selected for your marketing manager internship.
Part A – General Information and Situational Analysis
Section 1 – Company Background
- Describe the selected company and brand and a brief history.
- Summarize the core products and services the company offers.
- Identify direct current competitors and explain why they are direct competitors.
Section 2 – SWOT Analysis
- Complete a SWOT analysis.
- Propose the product or service line you want to develop a marketing plan for.
- Justify your proposal with a SWOT-based argument for why it warrants marketing investment.
Section 3 – Macro- and Microenvironment
- Analyze at least two elements from each quadrant of Table 8.1 in the course text as the micro- and macroenvironment factors that affect the company’s overall marketing strategy.
Part B – The Marketing Plan
Section 1 – Segmentation, Targeting, and Positioning (STP)
- Describe your segmentation approach for your proposed product or service and provide rationale for this approach.
- Describe the target audiences or markets.
- Create a positioning statement.
Section 2 – The Marketing Mix
- Formulate the four Ps for your proposed product or service:
- Product
- Describe your core product, extended product, and the product concept.
- Explain how you plan to achieve competitive differentiation through creating customer value in four areas
- Branding
- Packaging
- Support
- Quality
- Price
- Place
- Promotion with a special focus on digital media and integrated marketing communications (IMC)
- Product
Section 3 – Global and Ethical Considerations, and Conclusion
- Identify three business or sociocultural considerations in translating your marketing plan for use in a foreign market.
- Discuss the company’s policy or philosophy on one of the areas below:
- corporate social responsibility (CSR
- green marketing practices
- ethics
- ethical marketing
- diversity, equity, and inclusion (DEI) practices.
- Conclude with a summary of your plan and why it deserves to be funded.
Helpful Tips
- Part A
- Section 1: Understanding the background of the company will help you complete the SWOT analysis. Use your Week 2 assignment and make sure you incorporated your instructor’s feedback and have improved your previously submitted work.
- Section 2: Propose a new idea to market the product or service line. Avoid writing about or proposing the current marketing strategy. This is your idea, so use the SWOT analysis to defend it. Use your Week 2 assignment and make sure you incorporated your instructor’s feedback and have improved your previously submitted work.
- Section 3: Use the information you researched and analyzed in the Week 4 video presentation to complete this section. Analyze some micro- and macroenvironment factors that affect the company’s overall marketing strategy globally. You need to provide enough details about the information you included in your slides to incorporate it with the rest of the paper.
- Make sure you incorporated your instructor’s feedback.
- Part B
- Section 1: Use the information you researched and analyzed in the Week 4 discussion forum, Finding and Targeting Your People. You need to beef up the information you discussed in that discussion forum to align it with your overall marketing plan. Also, review and refer to Section 7.3 of the course text, Principles of Marketing.
- Section 2: Spend considerable time completing the four P’s of your marketing plan; this is the essence of your plan. Someone should be able to understand your plan just by reading this section only.
- Section 3: Research, analyze, and discuss your internship brand at the global level or in a foreign market. Also, discuss its CSR and DEI efforts.
1
Under Armour Marketing Plan: Product Identification and SWOT Analysis
Tashina Tupai
University of Arizona Global Campus
BUS330
Professor Murray
May 28, 2024
Under Armour Marketing Plan: Product Identification and SWOT Analysis
Under Armour is an industry pioneer that has grown to be an athletic apparel company that is dedicated to improving the wearer's performance. This paper provides a marketing plan for a new product line that will incorporate the results of the SWOT analysis. The goal here is to explain why the proposed product line is viable using a SWOT argument and to plan for how to compete on customer value in branding, packaging, support, and quality.
Company and Brand Overview
Under Armour is a sports apparel firm that was started in 1996 by Kevin Plank, a former University of Maryland football player (Senteza et al., 2020). It first became popular for its moisture-wicking T-shirt, a piece of clothing aimed at providing comfort to athletes by keeping them cool and dry. Under Armour has gone on to diversify its portfolio to meet the demands of its customers with different products in athletic apparel, shoes, and accessories. Today, it is a world-renowned company with a reputation for implementing innovations and achieving high results. Under Armour recorded revenues of $4 billion in its 2017 annual report. 5 billion, with a large proportion of the fund coming from North America (Newman, 2022). The brand's mission statement, "To make all athletes better through passion, design, and the relentless pursuit of innovation," underscores Nike's continuous focus on increasing performance and technology.
Core Products and Services
The main products and services offered by Under Armour are athletic apparel, shoes, accessories, and wearable technology (Kopplin, 2023). The athletic apparel includes T-shirts, hoodies, pants, and shorts, as well as apparel made for performance. HeatGear® and ColdGear® are both products that are worn to help athletes in different weather conditions carry out their activities effectively. This encompasses trainers, runners, and cleats for specific sporting disciplines. Footwear was one of the largest segments that contributed to the company's total revenue, earning approximately 21% in 2020. Items such as bags, hats, gloves, and protective gear for the head, body, and limbs are ancillary products that fit with the main apparel and shoes, thus offering holistic solutions for athletes (Kopplin, 2023). Also, MyFitnessPal® and MapMyRun®—Under Armour's apps—have millions of users across the globe, thus combining digital health with fitness.
Key Current Competitors
Under Armour faces competition from a number of other major actors in the athletic wear industry. Nike is a multinational corporation that specializes in designing and manufacturing sportswear and sporting equipment and has a strong marketing position globally, having registered $37.4 billion in the year 2020 (Saini et al., 2022). Leading shoe manufacturer Adidas, famous for its fashionable products and a powerhouse in numerous sports, earned $23.66 billion in annual revenues in the next year, specifically in 2020. It is a German multinational corporation that deals in sportswear and other related lifestyle products, and its revenue in 2020 was estimated to be about $5. The global population in 2021 will be 7.9 billion (Saini et al., 2022). Reebok targets the athletics and CrossFit segments with a major emphasis on performance wear. While it is currently owned by Adidas, Reebok has a different business model.
SWOT Analysis Strengths
Under Armour has a considerably high brand awareness associated with quality and technological advancement. It offers a wide variety of products that can be used in various sporting disciplines, and it boasts advanced fabrics and smart technologies (Senteza et al., 2020). Puma also establishes strategic alliances with famous athletes and teams to increase its brand's popularity.
Weaknesses
However, the Under Armour firm's products cost relatively more than those of its market competitors (Senteza et al., 2020). It also has a relatively smaller market share within the footwear industry as compared to Nike or Adidas. Also, Under Armour generates a large portion of its revenue from North America, which leaves it vulnerable to regional economic downturns.
Opportunities
However, Under Armour also has areas opportunities and future growth, including diversification into Asia-Pacific and Latin American countries. Expanding the customer base by entering new product categories, expanding the online presence by adding new sales points, and improving digital marketing can also contribute to growth. Furthermore, the focus on physical training and a healthy lifestyle is relevant to global tendencies towards health and fitness.
Threats
Under Armour's existing competition is stiff due to increased competition from new brands and other existing brands. Fluctuations in the market may influence the purchasing behavior of the customer, while in the case of the supply chain, the disruption influences the flow and manufacturing process (Senteza et al., 2020). Also, the competition might flood the market with fake products, which can also have a negative impact on the brand.
Proposed Product Line: Under Armour Eco-Friendly Athletic Wear
The consumer trend towards green products and services can be capitalized on by Under Armour to create an environmentally friendly athletic wear division. This line would consist of clothing produced from recycled and organic fabrics, which would help the brand become a pioneer in sustainability in the sphere of athletic wear.
In this context, it is possible to state that the eco-friendly line can conform to high performance standards associated with Under Armour’s brand image and innovation potential while also taking into consideration the pressing environmental issues (Senteza et al., 2020). The case of sustainability is a good chance to find a new level of customer base, which corresponds to the tendencies of the global health and wellness industry and will broaden the company’s market niche. While cost is always a factor of concern, it can be managed by arguing for environmental and performance gains in the long run. Furthermore, stressing the aspects of this product that can set it apart from other similar products on the market can be useful.
Product Description
The core product will be athletic wear made from recycled plastic and organic cotton that is suitable for athletic activities like T-shirts, shorts, and leggings. The extended product will have qualities such as moisture control, UV protection, and anti-odor, which will guarantee the product’s quality to fit the Under Armour brand. The product concept is focused on environmentally friendly athletic wear that can also boast high performance and commitment to the environment.
Competitive Differentiation Strategy Branding
The eco-friendly line will be marketed by Under Armour as the ideal product line for athletes who are concerned about the environment. Branding initiatives will be directed towards sustainability, and this will be done without compromising on performance. Awareness campaigns will focus on the environmental impact and advantages of using the products over those of their competitors.
Packaging
The packaging will also be kept to the minimum possible and will be made from recycled materials, which in turn will be recyclable. Thereby, clear labeling will ensure that consumers understand the environmental aspects and performance characteristics (Nguyen et al., 2020). Under Armour will also look at ways to make packaging more innovative to ensure the firm is even more environmentally friendly.
Support
A customer support team would be responsible for responding to questions regarding the sustainability and efficacy of the products. Furthermore, for used apparel, there will be a take-back scheme for recycling the clothes. Apart from promoting environmental sustainability, this program will also enhance customers’ patronage and interaction with the firm.
Quality
As a continuation of the Under Armour brand’s performance wear, the eco-friendly line will be put through its paces to ensure it meets the same standards as other UA products (Kopplin, 2023). In terms of design, the emphasis will be placed on endurance, practicality, and wearability. Under Armour will also dedicate resources to research and development to ensure the company’s eco-friendly line is the best in the market.
In conclusion, Under Armour’s foray into green apparel for athletes caters to its strengths and industry trends. This new product line also helps to meet the increasing consumer interest in environmentally friendly products, besides creating a competitive advantage for Under Armour over its competitors. Thus, Under Armour has the opportunity to gain a large market share and customer trust due to its brand, innovation, and quality focus on the eco segment. The proposed marketing plan captures how the eco-friendly line will be marketed while Under Armour stays ahead of the competition in the athletic wear market.
References
Kopplin, C. S. (2023). Sports fashion and sustainability: a perfect match?. International Journal of Sports Marketing and Sponsorship, 24(5), 891-912. https://www.emerald.com/insight/content/doi/10.1108/IJSMS-04-2023-0078/full/html
Newman, J. I. (2022). Physical Activity. Sociocultural Issues in Sport and Physical Activity, 227. https://books.google.co.ke/books?hl=en&lr=&id=b2hgEAAAQBAJ&oi=fnd&pg=PA227&dq=Under+Armour+reported+revenues+of+%244.5+billion,+with+a+significant+portion+coming+from+North+America&ots=pcShbV-YFj&sig=fXLE9R98B-QrPztcecHc127LJi8&redir_esc=y#v=onepage&q&f=
Saini, M., Saravanan, D., Kutty, N. M., & Agrawal, R. (2022). Brand Influencing Customers Buying Behaviors: A Case Study on Nike. ECS Transactions, 107(1), 5597. https://iopscience.iop.org/article/10.1149/10701.5597ecst/meta
Senteza, J., Suh, I., & White, T. (2020). Under Armour, Inc.: will a fallen titan recover?. International Journal of Teaching and Case Studies, 11(4), 285-301. https://www.inderscienceonline.com/doi/abs/10.1504/IJTCS.2020.112725
Nguyen, A. T., Parker, L., Brennan, L., & Lockrey, S. (2020). A consumer definition of eco-friendly packaging. Journal of Cleaner Production, 252, 119792. https://www.sciencedirect.com/science/article/abs/pii/S0959652619346621
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Tashina Tupai
5:41pmJun 17 at 5:41pm
Hi Class,
Part 1: Geodemographic Analysis Utilizing Claritas' ZIP Code Look-Up
I examined the comprehensive demographic information after inputting the ZIP code 42262 into Claritas' ZIP Code Look-Up tool. This region, encompassing sections of Fort Campbell North, possesses the following attributes:
The distribution of household income at Fort Campbell is predominantly middle-income, which aligns with the average incomes of many US Army families stationed there. There is a diverse variety of income levels, although a substantial proportion falls between $50,000 and $100,000.
Household Composition: The region has many family households, especially those with children, which aligns with the demographics of military families.
Age distribution of the population: There is a substantial population of young adults and children, corresponding to military personnel and their families.
The population in the area is characterized by a high presence of several racial and ethnic groupings, which mirrors the diverse composition of military settlements. This data aligns well with my household since we are a middle-income military family residing in a detached property with young people and children. Our segment is prevalent in this area because of the substantial military presence.
Part 2: Segmentation and targeting are essential components for developing your internship brand.
Segmentation and Targeting for Internship Brand (Under Armour)
I suggest implementing a focused promotional campaign for Under Armor using the comprehensive segment profile provided by Claritas for ZIP code 42262, which highlights a strong inclination towards quality, practicality, and digital interaction among military families. This program aims to utilize social media sites such as Instagram and Facebook to showcase Under Armour's resilient and high-performing athletic apparel. Under Armour's products would be especially attractive to military families, who prioritize health and maintain active lifestyles due to their high quality and functionality. The campaign would showcase testimonials and endorsements from military people and their families, highlighting how Under Armour clothing aids their fitness regimens during and outside duty. The promotion would effectively appeal to this group by highlighting the features of moisture-wicking textiles, comfort, and durability. It emphasizes how Under Armour's goods exceed demanding physical activities while delivering exceptional performance and comfort.
