Harvard Case - Under Armour: Creating and Growing a New Consumer Brand
"Under Armour: Creating and Growing a New Consumer Brand" Harvard business case study is written by Brian Sternthal, Prashant Malaviya. It deals with the challenges in the field of Marketing. The case study is 11 page(s) long and it was first published on : Mar 28, 2018
At Fern Fort University, we recommend Under Armour adopt a multi-pronged strategy to sustain its growth and solidify its position as a leading athletic apparel brand. This strategy involves a blend of product innovation, targeted marketing, global expansion, and strategic partnerships. This approach aims to capture new market segments, enhance brand equity, and drive long-term profitability.
2. Background
The case study revolves around Under Armour, a company founded in 1996 by Kevin Plank, a former football player. Plank's vision was to create performance apparel that was more comfortable and functional than existing options. Under Armour's initial success stemmed from its innovative 'HeatGear' and 'ColdGear' technologies, which provided athletes with superior moisture-wicking and temperature-regulating properties.
The case highlights Under Armour's early growth trajectory, fueled by a strong brand positioning as a performance-driven brand, effective marketing campaigns, and a focus on athlete endorsements. However, the case also explores the challenges Under Armour faced as it sought to expand its product line, target new consumer segments, and compete with established giants like Nike and Adidas.
3. Analysis of the Case Study
To analyze Under Armour's situation, we can utilize the SWOT framework:
Strengths:
- Strong brand image: Under Armour is associated with performance, innovation, and athleticism.
- Innovative product development: The company consistently introduces new technologies and product lines.
- Strong athlete endorsements: Under Armour has a roster of high-profile athletes, enhancing brand visibility.
- Direct-to-consumer strategy: Under Armour has a strong online presence and retail stores, allowing for direct customer engagement.
Weaknesses:
- Limited product diversity: Under Armour's focus on performance apparel limits its appeal to a broader consumer base.
- Price premium: Under Armour's products are often priced higher than competitors, potentially hindering market penetration.
- Supply chain challenges: The company has faced issues with production and distribution, impacting product availability.
Opportunities:
- Expanding into new markets: Under Armour can leverage its brand strength to enter emerging markets with high growth potential.
- Diversifying product offerings: Expanding into casual wear, footwear, and accessories can attract a wider audience.
- Embracing digital marketing: Leveraging social media, influencer marketing, and targeted advertising can enhance brand reach.
Threats:
- Intense competition: The athletic apparel market is highly competitive, with established players like Nike and Adidas.
- Economic downturns: Economic fluctuations can impact consumer spending on discretionary items like athletic apparel.
- Changing consumer preferences: Trends in fashion and fitness can impact product demand.
4. Recommendations
To address the challenges and capitalize on the opportunities, Under Armour should implement the following recommendations:
1. Product Innovation and Diversification:
- Develop new technologies: Continue to invest in research and development to create innovative products that address evolving athlete needs.
- Expand product lines: Introduce new categories like casual wear, footwear, and accessories to broaden the customer base.
- Focus on sustainability: Develop eco-friendly and sustainable products to appeal to environmentally conscious consumers.
2. Targeted Marketing and Brand Management:
- Refine brand positioning: Clearly articulate Under Armour's value proposition and target specific consumer segments.
- Leverage digital marketing: Utilize social media, influencer marketing, and targeted advertising to reach new audiences.
- Enhance customer experience: Focus on providing excellent customer service and personalized experiences through online and offline channels.
3. Global Expansion and Strategic Partnerships:
- Enter new markets: Identify emerging markets with high growth potential and tailor marketing strategies to local preferences.
- Form strategic partnerships: Collaborate with athletes, retailers, and other brands to expand reach and access new markets.
- Embrace technology and analytics: Utilize data-driven insights to optimize marketing campaigns, product development, and global expansion.
4. Focus on Sustainability and Corporate Social Responsibility:
- Implement sustainable practices: Reduce environmental impact throughout the supply chain and promote ethical sourcing.
- Support social causes: Partner with organizations that align with Under Armour's values and promote social responsibility initiatives.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Under Armour's core competency lies in innovation and performance apparel. The recommendations align with this focus while expanding into new areas to sustain growth.
- External customers and internal clients: The recommendations address the needs of both existing and potential customers while also considering the needs of internal stakeholders like employees and investors.
- Competitors: The recommendations aim to differentiate Under Armour from competitors by leveraging its strengths, addressing weaknesses, and capitalizing on opportunities.
- Attractiveness ' quantitative measures: The recommendations are expected to contribute to increased revenue, market share, and profitability, though specific financial projections would require further analysis.
6. Conclusion
Under Armour has a strong foundation built on innovation, performance, and a loyal customer base. By implementing the recommendations outlined above, the company can continue to grow, enhance brand equity, and solidify its position as a leading athletic apparel brand. This strategy requires a commitment to innovation, targeted marketing, global expansion, and a focus on sustainability and corporate social responsibility.
7. Discussion
Other alternatives not selected include:
- Focusing solely on performance apparel: This strategy may limit growth potential as it restricts the target market.
- Aggressive price reductions: This could erode brand value and profitability.
- Merging with a competitor: This could lead to integration challenges and loss of brand identity.
Risks and Key Assumptions:
- Market volatility: Economic downturns or changes in consumer preferences could impact demand.
- Competition: Existing players and new entrants could pose significant challenges.
- Execution: Successful implementation of the recommendations requires effective leadership, resource allocation, and execution.
8. Next Steps
- Develop a detailed implementation plan: Outline specific actions, timelines, and responsible parties for each recommendation.
- Conduct market research: Gather data on consumer preferences, competitor analysis, and market trends to refine strategies.
- Monitor performance: Track key metrics like revenue, market share, and customer satisfaction to assess the effectiveness of the recommendations.
By taking these steps, Under Armour can navigate the competitive landscape, capitalize on growth opportunities, and solidify its position as a leading athletic apparel brand for years to come.
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Case Description
The case traces the development of the Under Armour (UA) brand, product, and market growth under CEO and founder Kevin Plank from its inception in 1996 through 2016. UA provides a cohesive case study of how to launch and sustain a consumer brand even in the face of its third-party manufacturing approach, which gives its apparel no patentable design or fabric technologies. The case uses UA's brand and advertising development as a backdrop for the current pivotal issue of how to target women to sustain growth. UA's stated goal is to build a $1.9 billion women's business by 2019. In laying out UA's growth and competitive moves, the case lets students analyze broadcast, social media, and other digital advertising campaigns in view of the company's brand development and strategic targeting. The case also highlights the importance of leveraging brand heritage and historical differentiation while respecting key nuances when extending into new markets (i.e., moving from a predominantly male-driven audience to female). It also allows an exploration of how to use consumer insight and broader cultural attitudes and trends to support extending a position into new markets.
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