Harvard Case - Under Armour
"Under Armour" Harvard business case study is written by Rory McDonald, Clayton M. Christensen, Daniel West, Jonathan E. Palmer. It deals with the challenges in the field of Strategy. The case study is 27 page(s) long and it was first published on : Jan 9, 2018
At Fern Fort University, we recommend Under Armour implement a comprehensive strategic plan focused on re-establishing brand dominance in the athletic apparel market. This plan leverages innovation through technology and analytics to drive product development and digital transformation, while also prioritizing environmental sustainability and corporate social responsibility.
2. Background
Under Armour, once a dominant force in the athletic apparel industry, faces significant challenges. The company's growth has slowed, its market share has declined, and its brand image has been tarnished by internal struggles and controversies. This case study explores Under Armour's journey from its early success to its current predicament, analyzing the factors contributing to its decline and proposing a path forward.
The main protagonists in this case are Kevin Plank, the founder and former CEO, and the current CEO, Patrik Frisk. Plank's entrepreneurial spirit and focus on innovation drove Under Armour's initial success, but his leadership style and strategic decisions ultimately contributed to the company's struggles. Frisk, tasked with reviving the company, faces the challenge of navigating a complex landscape of competition, changing consumer preferences, and evolving market dynamics.
3. Analysis of the Case Study
Competitive Analysis:
- Porter's Five Forces: The athletic apparel industry is characterized by intense competition, with strong competitive forces from established players like Nike and Adidas, as well as emerging brands like Lululemon and Peloton. The industry also faces high bargaining power of buyers due to the availability of numerous substitutes.
- SWOT Analysis:
- Strengths: Strong brand recognition, loyal customer base, innovative product development capabilities, and a focus on performance apparel.
- Weaknesses: Declining market share, declining profitability, brand image issues, and a complex organizational structure.
- Opportunities: Expanding into new markets, leveraging digital transformation, focusing on sustainability, and developing new product categories.
- Threats: Intense competition, changing consumer preferences, economic downturns, and supply chain disruptions.
Strategic Analysis:
- Value Chain Analysis: Under Armour's value chain is characterized by a strong focus on product development and marketing, but its manufacturing processes and supply chain management have been criticized for inefficiencies.
- Business Model Innovation: Under Armour needs to explore new business models to drive growth, such as subscription services, personalized experiences, and strategic alliances with fitness apps and platforms.
- Resource-Based View: Under Armour's core competencies lie in its innovation capabilities, its strong brand, and its understanding of the athletic apparel market. However, it needs to leverage these resources more effectively to regain its competitive edge.
Financial Analysis:
- Under Armour's financial performance has declined in recent years, with declining revenue and profitability. The company needs to improve its cost structure, optimize its operations, and focus on profitable growth.
Marketing Analysis:
- Under Armour's marketing strategy has become less effective, with a decline in brand appeal and consumer engagement. The company needs to re-energize its brand image, target new customer segments, and leverage digital marketing channels more effectively.
4. Recommendations
Strategic Focus:
- Re-establish Brand Dominance: Under Armour needs to reclaim its position as a leading athletic apparel brand through a combination of product differentiation, marketing innovation, and brand revitalization.
- Embrace Digital Transformation: Under Armour should leverage technology and analytics to enhance its operations, personalize customer experiences, and drive digital marketing initiatives.
- Prioritize Sustainability: Under Armour should commit to environmental sustainability across its operations, from sourcing materials to reducing its carbon footprint. This will resonate with environmentally conscious consumers and enhance its brand image.
- Foster Corporate Social Responsibility: Under Armour should actively engage in initiatives that promote social good, such as supporting athletes and communities, promoting diversity and inclusion, and advocating for social justice.
Specific Actions:
- Product Development:
- Focus on innovation in performance apparel, developing cutting-edge technologies and materials.
- Expand into new product categories, such as footwear, accessories, and athleisure wear.
- Develop personalized product offerings based on customer data and preferences.
- Marketing Strategy:
- Re-energize the brand image through compelling storytelling and authentic brand messaging.
- Target new customer segments, including younger generations and diverse demographics.
- Leverage social media and digital marketing to reach target audiences and build brand awareness.
- Operations and Supply Chain:
- Optimize manufacturing processes and supply chain management to improve efficiency and reduce costs.
- Explore vertical integration to gain greater control over production and distribution.
- Partner with leading technology companies to develop innovative solutions for IT management and data analytics.
- Corporate Social Responsibility:
- Implement a comprehensive sustainability program that addresses environmental and social issues.
- Partner with organizations and initiatives that promote social justice and equality.
- Engage with stakeholders to build trust and transparency.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of Under Armour's current situation, its competitive landscape, and the evolving market dynamics. They are aligned with the company's core competencies in innovation and product development, while also addressing its weaknesses in brand image, operational efficiency, and sustainability.
The recommendations are also designed to attract new customers, improve profitability, and enhance brand value. They are supported by quantitative measures such as market share growth, revenue increase, and improved profitability.
6. Conclusion
Under Armour faces significant challenges, but it has the potential to rebound and regain its position as a leading athletic apparel brand. By implementing a comprehensive strategic plan that prioritizes innovation, digital transformation, sustainability, and corporate social responsibility, Under Armour can re-establish its brand dominance, drive profitable growth, and create long-term value for its stakeholders.
7. Discussion
Alternative strategies include:
- Mergers and Acquisitions: Under Armour could consider acquiring smaller, innovative companies to expand its product portfolio and enter new markets.
- Outsourcing: Under Armour could outsource certain operations, such as manufacturing, to reduce costs and improve efficiency.
These alternatives have their own risks and limitations. Mergers and acquisitions can be complex and costly, while outsourcing can lead to loss of control over operations.
Key assumptions include:
- The athletic apparel market will continue to grow in the coming years.
- Consumers will continue to prioritize performance, comfort, and style in their athletic apparel.
- Under Armour will be able to successfully execute its strategic plan and overcome its challenges.
8. Next Steps
Under Armour should immediately begin implementing its strategic plan, focusing on the following key milestones:
- Year 1: Develop a new product line featuring innovative technologies and materials. Launch a comprehensive digital marketing campaign to re-energize the brand image and target new customer segments.
- Year 2: Implement a sustainability program across all operations. Partner with organizations and initiatives that promote social justice and equality.
- Year 3: Expand into new markets, such as emerging markets and online retail channels. Explore new business models, such as subscription services and personalized experiences.
By taking these steps, Under Armour can position itself for long-term success and regain its position as a leading athletic apparel brand.
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Case Description
After twenty years of growth unprecedented in the sports apparel industry, Under Armour finds itself with a new record to beat: making the leap from $5 to $10 billion in sales - a feat only accomplished to date by competitors Nike and Adidas. At the heart of this challenge is how Under Armour can maintain its brand's authenticity while adding new products that fuel future growth. The case traces the evolution of Under Armour's brand and describes how the company chose to extend or not extend its brand into adjacent categories and markets in the past. Now Under Armour needs to decide on their next steps. Should the company focus on its core markets? Should it stretch the brand into more adjacencies? Or should it consider something more radical, like app-related sales through subscriptions and wearable technologies?
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