Marketing Strategy and Marketing Mix (4Ps) of Under Armour
To study Under Armour marketing strategy and marketing mix, you need to find out its product, price, place, and promotional strategy, also referred to as 4Ps. These are the core strategies that decide a company’s future, like Under Armour. They can also position themselves in the competitive environment using these four factors. Keep scrolling to read.
Product Strategy of Under Armour:
One of the leading sports apparel brands with fantastic brand awareness and reach, Under Armour is the most prominent name. They manufacture high-quality sports apparel along with fitness equipment. If you are a fitness or sports aficionado, then you must know this brand. It specializes in various categories of men, women, and kids. They have every type of fabric gear, such as cold gear, heat gear, and all seasons gear. From sports to sleepwear, basketball, running, golf, hiking, or name a few, they made every type of clothes for everyone. They use high-quality fabric and materials to make products. They have a wide variety of accessories, shoes, backpacks, and equipment. The outbreak of Covid-19 has affected the brand in various ways, such as profits, sales, and business performance.
Price Strategy of Under Armour:
The company utilizes a value-based pricing strategy. Their pricing strategy is very effective and they have been attracting millions of customers every year. As compared to competitors, the company charges some extra money for its products, and it is because of its high-quality products and materials. They introduce innovative designs every year, that’s why they charge some money in this regard. Its main customers are athletes and fitness professionals. They focus on functionality as well as fashion. But, it is far better than many other brands regarding designs and quality. It has been known as the market leader for many years. They used dry-fit technology in most of their products like Reebok and Nike.
Place Strategy of Under Armour:
The company has an impressive global presence with an incredible brand image. Under Armour follows two distribution channels to supply its products: the hybrid and direct channels. They have various company-owned stores across the globe. They also deliver products to more than 190 countries through multiple channels.
Under Armour have a wide range of products in every segment. In the form of retail stores, the company is also working efficiently in the UK, Canada, China, Mexico, etc. On the other hand, the company is trying to grow its reach by targeting emerging economies. They have more than 15000 employees globally to help its consumers.
Promotion Strategy of Under Armour:
Like other brands, the company doesn’t utilize outside agencies for marketing. They have an in-house marketing agency that controls everything. They utilized everything to promote their products, from gigantic billboards to magazines, media campaigns, TV ads, and partnerships. Many celebrities and sports professionals endorse its products. They have launched various successful campaigns that help to generate most of their revenues. They also offer amazing discounts and offers to users to boost sales.
About Under Armour:
In sports apparel, Under Armour is one of the biggest brands in the world. They manufacture clothes, shoes, accessories, and sports equipment. Kevin Plank started this brand in 1996.
It is a leading name in moisture-absorbing clothes and shoes. The main competitors of Under Armour are Reebok, Nike, Puma, and Adidas. They have been expanding their product portfolio by introducing casual apparel.
Need Help or Advice in Content Management:
Do you want any help writing quality content, driving more traffic to your website, and boosting conversions? Get in touch through Contact our team or my Freelancer.com profile. I always prefer to work through Freelancer.com for smooth functioning. Here you pay safely and securely.
Read More:
PESTLE ANALYSIS OF PRADA TO IDENTIFY ITS BUSINESS TACTICS
GROWTH AND IBM MARKETING STRATEGY | MARKETING MIX (4PS) OF IBM
WHY TEAMWORK MATTERS IN THE WORKSPACE AND FOR BUSINESS SUCCESS?