Under Armour SWOT Analysis 2019, 505 words essay example
The SWOT analysis helps break down the strengths, weaknesses, opportunities and threats of Under armor and gives you a clear understanding of the company internally and externally. Under Armour has many strengths on their side. One of the biggest being brand recognition. They are the leader in providing high tech gear for athletes and other alike for all seasons, comfort and style included. The quality of their apparel plays an intricate role in their customer loyalty as well. By delivering superior quality clothing, customers will continue to return to get the rest of their wardrobe needs. They adapt to changing industry conditions with product differentiation and their use of technology in the industry, this helps them retain their market share and stay competitive. They are gaining market share higher than their rivals, remaining different by the products they offer, and increasing customer loyalty and brand recognition. This all equals a successful business. Their weaknesses include the fact that they are not an international market, allowing other companies to edge them out, they have a limited amount of distributers, and their non-patented products allow for competitors to mimic their ideas and potentially out-sell them and steal a portion of their customer base. The threats for Under Armour include the fact that their products are higher priced, the chance for substitutes is at high risk due to non-patented products, and the need to stay ahead of the curve due to the competition. Some opportunities are capitalizing on the fact that they have a growing number of customers and growing population. They have the innovation behind them to stay ahead of the game and produce new high quality items. They can maximize on the recent health trend of people eating better and getting to the gym, and lastly the industry is constantly pumping out new innovative products, it is providing them the opportunity to come up with something spectacular to outcompete everyone else. Overall the attractiveness of their situation is high. Their brand recognition helps them tremendously and I think they have the potential to continue being a leader in the industry.
Some of Under Armour's key elements include their marketing and promotion efforts. This is leading to high brand recognition and sales. They sponsor and endorse companies and athletes, they strategically place merchandise in each department, leading to their own retail spaces, and they remain aggressive in their promotion strategy. Their innovative performance based apparel has made good on it's word of being the best quality performance gear on the market. The company designed their brand to athletes specifically to keep them dry and cool when it's hot and keep them warm when it's cold. This benefit to athletes is desirable and one that will remain competitive. Another key elements in their success is their Innovation through research and development. They spend a lot of time and money to out-compete their rivals, which is necessary in a market where substitutes are high. This is the heart and soul of their operation and a
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