Strategic plan Outline MKT 300 Company name: Under Armour Growth strategy: A- De
ID: 366347 • Letter: S
Question
Strategic plan Outline MKT 300 Company name: Under Armour Growth strategy: A- Detailed description of i Customer Driven Growth Strategy 1- Excluding market penetration, the strategy from the product/ Market expansion Grid selected 2- Provide the information necessary to clearly explain, substantiate, and support your logic and strategy selection. B- Market selection i Identify the qualifying attributes (needs, Characteristic or behaviors that may require different products/services or marketing programs) of core customers we seek. ii Identify the variables used for segmentation and how they correlate with your strategy.Explanation / Answer
Under armour is one of the most famous sports manufacturer which manufacturers the sport goods for athletes as well as other customers. under armour has created there is stronger identity in the market by creating an extremely well structured electronic presence. Company has been delivering the new products over the Internet as well as different electronic medium such as television.
Under armour has been very widely famous for creating influential advertisements on the electronic mediums and influencing their customers. Buy provision of the different offers and discounts over the Internet and other electronic medium under armour has been very successful in creating a market specifically for their products. Differentiating themselves with other with the help of the quality which goes into the making of the product is one of the 4 strategies of Under armour 2 project and help in the electronic region.
Under Armour has been very successful in there effort for creating an online presence or presence in electronic medium. Athletic clothing as well as different sports equipment were also largely projected by the company. Under armour also created offline stores which directly related to their online stuart by scanning the QR codes as well as different technological implementation such as Augmented reality for trying the clothes without even wearing them. By having a strong electronic presents under armour is a specifically growing into this is very big market.
Under armour successfully has influenced me as a buyer to buy some of their products and they also provide quality products which directly increases the level of loyalty through the customer. All the products shown in the advertisement and electronic market work directly related to the quality which was provided in actual product.
Under armour has been there image in the market by maintaining specific quality in the equipment as well as different products they offer. Under armour has been very influential in the advertisements as well as creating different aspects of capturing the market. Under armour strategies to capture the core and Prime market for the athletes and for the sports persons.
Under armour should introduce new products to the society by implementing and researching the specific market as per the need of the region. By analysing the specific region in which under armour is dealing in, it can increase the level of efficiency as well as sales of their products into that specific region which would be very beneficial for under armour to boost their sales in that the specific place.
Analysing the situation of the competitors as well as the need of the market and investing power of the buyers can be very beneficial for underarm and to integrate itself into the specific society and to create a more effective way to introduce the new products into the market.