Ex- football player Kavin Plank Essay

Under armor was founded by American ex- football player Kavin Plank in 1996. Its headquarters are in Baltimore, Maryland, USA. Plank started the business in his grandmother’s basement. The word of mouth publicity brought revenue and ultimately in two years time Plank started reaping profit. The main objective of the company was to design a superior quality t- shirt which instead of absorbing sweat, provides perspiration and compression. But it ended up producing various other sports products such as footwear, apparel and accessories. Armor happens to be the designer of performance apparel which it claims would maintain body temperature and improve performance. (Under Armour  ® 2010) Under Armour UA’s mission is to make the customer feel comfortable while wearing its products. Its aim is to make all athletes feel better in their uniforms with the help of science and innovation. Providing comfort to the customers is the first and foremost priority of UA. For that purpose, Heat Gear and Cold Gear products were introduced which would serve the purpose of ease and satisfy the athletes during the calisthenics, practice or course of game. (Under Armour  ® 2010) Products, goods and services The products range from t-shirts to footwear and accessories. These categories are further extended to all types of sportswear. You name the sport (from baseball to hunting) and you can find the custom design outfits and footwear along with accessories required for that sport. The company introduced Heat Gear, Cold Gear and AllseasonGear products and various other products to entice the customers. (Under Armour  ® 2010) Marketing Strategy and Position in the market Under Armour understood the market at the start of the business. The word of mouth publicity at small scale to ignite the marketing process for a relatively new company was good enough to bring in customers. Till date the company sponsors events such as Under Armour High school All- American Football Game and Senior Bowl. (Ayala 2008) Under Armour also sponsored the ESPYs. At the event, the company also managed to get leads on a pilot and two movies as well. It sponsors various college teams for publicity. The commercials and punch line are catchy and attract many customers. Under Armour products could also been in Video Games. In Flight Night 3, Dallas Cowboy player and spokesperson Eric ‘Big E’ was among the Fighters game players could choose to be. Their marketing strategy is strong and has provided them powerful position in the market. (Walker 2008) Competitors The company saw downfall in 2008. According to today’s financial news the company’s competition is sinking. In 2009 UA made Fiscal Fourth Quarter results’ announcement that are down nearly half of where they were this time next year. Shares of Gilden Active wear and Lululemon went down by 30% and 20% respectively. (Financial news 2008) Luckily, today they are flourishing at increasing speed. The competition and hard time was beneficial in this regard. Their hard work is paying them off. The biggest competitors of UA are Colm and Nike. UA is increasing pace to reap as much revenue as Nike is. Its revenue was calculated to be approximately $885 million a year in contrast to Nike’s $19 billion this year. (Wikinvest 2010) Bibliography About Under Armour, Underarmour. com, Under Armour  ®, 2010, web, July 18, 2010 from http://www. underarmour. com/shop/us/en/affiliate-home Ayala, V. ‘Under Armour: Solid Growth Story’, Seeking Alpha, July 2008, web, July 18, 2010 http://seekingalpha. com/article/87622-under-armour-solid-growth-story-more-visibility-needed ‘Under Armour’s competition sinks’, Today’s Financial News, December 11, 2008, web, July 18, 2010 http://www. todaysfinancialnews. com/us-stocks-and-markets/under-armours-nyseua-competition-sinks-6437. html Walker, K. Andrea, Commercial Alert, ‘Under Armour in public eye’, July 24, 2008, web , July 18, 2010, http://www. commercialalert. org/issues/culture/product-placement/under-armour-in-public-eye Under Armour (UA), Wikinvest. com, Wikinvest, 2010, web, July 17, 2010 from http://www. wikinvest. com/stock/Under_Armour_(UA)