Under Armour is one of the leading companies in the sports apparel industry, with a brand value estimated at over $5 billion. The company’s success can be attributed to its unique business strategy, which is a combination of innovative products, effective marketing, and a strong brand image.
In this article, we will take a closer look at the Under Armour business strategy and how it has helped the company become the juggernaut it is today.
Innovation
One of the key pillars of Under Armour’s business strategy is innovation. From the beginning, the company has been focused on creating products that are not only functional but also innovative. Under Armour was one of the first companies to use moisture-wicking fabric in its products. This technology has now become the industry standard.
The company has also been at the forefront of using technology to enhance its products. For example, it has created a line of athletic wear that is infused with minerals to help improve performance. It has also created a shoe line that uses 3D printing technology to enhance comfort and support.
Effective Marketing
Another key component of Under Armour’s business strategy is effective marketing. The company has always been known for its bold advertising campaigns that target athletes and sports enthusiasts. It has also been successful in working with high-profile athletes and teams to promote its products.
One of the most successful marketing campaigns from Under Armour was the “I Will What I Want” campaign. This campaign featured female athletes who had overcome adversity to achieve their dreams. The campaign was a hit and helped the company connect with its female audience.
Strong Brand Image
The final piece of the puzzle in Under Armour’s business strategy is its strong brand image. The company has positioned itself as a premium brand that is focused on innovation and performance. It has also been successful in tapping into the emotional side of sports, which has helped it connect with its customers on a deeper level.
Under Armour’s brand image is reflected in its stores, which are designed to showcase its products in an aspirational manner. The stores are sleek and minimalist, with a focus on showcasing the products in the best possible light.
Conclusion
In conclusion, Under Armour’s business strategy is a combination of innovation, effective marketing, and a strong brand image. By focusing on these three elements, the company has been able to become one of the leading companies in the sports apparel industry. As the industry continues to evolve, it will be interesting to see how Under Armour adapts its business strategy to stay ahead of the pack.
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