Under Armour has become a global leader in the athletic apparel industry since its inception in 1996. The company has been able to stay ahead of its competitors through its well-articulated business strategy that is geared towards solving real problems for its customers.
One of the key components of Under Armour’s business strategy is a relentless focus on product innovation. The company’s research and development team is constantly working to develop new materials and technologies that can improve the performance and comfort of athletes. This has resulted in a steady stream of innovative products hitting the market, which has helped Under Armour to differentiate itself from its competitors.
Another important aspect of the company’s business strategy is marketing. Under Armour has invested heavily in creating a powerful brand that resonates with consumers. The ‘I Will’ campaign, which was launched in 2013, was aimed at inspiring athletes to push themselves beyond their limits. It was a huge success, and helped to solidify Under Armour’s position as the go-to brand for serious athletes.
Under Armour has also been able to stay ahead of its competitors by expanding its product line and entering new markets. The company has entered the footwear market, which has traditionally been dominated by established players like Nike and Adidas. Under Armour has also expanded into international markets, which has helped to diversify its revenue streams.
Moreover, Under Armour has forged partnerships with high-profile athletes and teams. These partnerships, which include the likes of Steph Curry, Tom Brady, and Tottenham Hotspur, help to increase the company’s visibility and credibility in the eyes of consumers.
In conclusion, Under Armour has been able to stay ahead of its competitors by focusing on product innovation, marketing, expanding its product line, entering new markets, and forging partnerships with high-profile athletes and teams. The company’s relentless focus on providing real solutions for its customers has been a key driver of its success. Under Armour’s continued commitment to innovation and partnerships will ensure that it remains a dominant force in the athletic apparel industry for years to come.
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