Is it ever possible to breakthrough against established giants in the pursuit of the aspiring businessman’s business target?
Former University of Maryland team captain, Kevin Plank, the owner of the Under Armour Brand turned an idea on the football field into an industry that changed the way athletes dress forever. In his playing days he had to change his sweat soaked cotton shirt repeatedly, he set to create a solution. After extensive research on athletic benefits of the synthetic fabrics, he designed his Heatgear shirt engineered with moisture wicking performance fibers helps athletes cool, dry and light in brutally hot conditions. Initially worked at his grandmother’s basement, he travelled the East Coast to sell his revolutionary product out of the trunk of his car. Under Armour outgrew grandma’s basement and moved to all new headquarters and warehouse in Baltimore. Now Under Armour through their mission has continually conquered the US and internationally. .http://www.uabiz.com/company/history.cfm
But, how did Under Armour break through the giants of sports apparel Adidas, Nike, Puma etc?
Data based segmentation on consumers
Demographics= gender, age, stage in household, lifestyle etc. Consumers are similar to that of competitors, but their product has further niche marketing strategy in the sense that, they focus on the athletes comfort and more.
Geographic= Since the company lives with the goal of their product’s adaptability to extreme climates hot or cold, has somehow given them extra edge to level up or surpass the taste of the consumers therefore trying/ buying their product instead of that established brand.
“When geographic and demographic information are combined, the segmentation scheme can be smart”. (Iacobucci,2013)
Psychological = The company utilizes tool for psychographic data?,VALS SEGMENT?
Ideals people = Compare brands before buying.
Achievement consumers= wear, buy, carry products that demonstrate success to others.
Self- expression= people who desires social and physical activity variety and risk. (Iacobucci, D 2013)
The owner’s background, as a sportsman, I think has contributed to him capturing the essence and value that facilitates to convey buyers by defining WHY his company differs from the rest. He already understood the consumers that their product has something to offer for every customer.
Behavioral= Did the company successfully accepts the challenge of attracting customers of the competitor’s brand?
Breadth Strategy= using multiple segments trying to reach more than one segment with their product. (Iacobucci D,2013) Carrying product line for hot or cold temperature, “continuous product innovation and development and targeting athletes all over the globe with most innovative performance apparel, footwear and accessories “as the company’s strategic goal.
The idea of targeting is selection. We have analysed the marketplace, our competitors and our internal strength and we can see that we align better with some segments than with other. We try to serve segments whose needs match out abilities to deliver – and in doing so, the company hope to have a very happy customer that will be profitable to them. (Iacobucci,D,2013)
But what helps with determining which segment to target? It is based on 2 factors:
- Quantitative issues= size of segment, profitability and growth.
- Strategic Issues= primarily leading to do with the fit of the segments needs to corporate philosophy and intended positioning. (Iacobuci,2013)
Under Armour’s target are the athletes, “To make all athletes better through passion, design and the relentless pursuit of innovation. And focuses their product in this kind of market.
Is the most important aspect of marketing because it involves all the marketing mix variables; designing the product, pricing, building distribution relationship and communication through proportional activities. (Iacobucci D,2013)
Product= Will customer choose our product instead of the competitor?
Price= Is our price affordable or will the customer buy our product?
Place= Is our product competitive enough for consumers to try our product globally?
Promotion = Positioning via PERCEPTUAL MAPS- it helps the customers visualise the brand. This emanates the positioning and strategic goal of the company.
company’s marketing advertisement
2,265,911 views in youtube
311,414 views in youtube
Under Armour’s product endorser’s are top athletes from different categories like see above, Bryce Harper “the Le Bron James( NBA Superstar) of Baseball”, Stephen Curry( Basketball) USA woman’s gymnast, also Michael Phelps( swimming gold medalist) to name a few.
POSITIONING MATRIX? Competitive price, high quality sports apparel and accessories. With customer Intimacy by making their product to the customer target needs, attributing to lifetime loyalty to the product.
So,what does that leave me and my questioning mind? Perhaps there are a space for a newbie in the market if you put your mind to it? Adapt the marketing strategy- STP- and it will be a good starting point? Nothing is impossible- Dream Big!
Marketing management – STP
student Number: 216063738