This article reads: 1 Overview of the American sportswear industry: a stable competitive pattern has been formed, the strong Hengqiang 2 Under Armour 3 advantages and 1 major disadvantage 3 Under Armour brand strategy: focus strategy, marketing strategy, company resource endowment, development in the last 5 years 4 Under Armour in China: ten years of development, ten dimensions 5 with Ossaisi super brand engine system, review Under Armour Appendix: UA 20 years |Under Armour's 20 major moments in historyThe analysis of the American sportswear industry According to Euromonitor statistics, the CAGR of the US sportswear market size from 2010 to 2019 was 687%, reaching $72 billion in 2019. In 2020, affected by the epidemic, the size of the U.S. sportswear market decreased by 22% year-on-year73%, gradually recovering in 2021, up 28. year-on-year80%。U.S. sportswear sales reached $70 billion in 2020 and are expected to grow at an annual rate of 9% over the next five years. In 2020, China's sportswear sales were $19.4 billion, and they are expected to grow by another 92% in five years. Reviewing the development of the sports footwear and clothing market in the United States, we can divide it into several stages: (1) Before the 1970s (the embryonic period of sports): At that time, the concept of sports gradually shifted from professional athletes and competitive sports to daily residents and fitness exercises, and sports products began to be popularized, mainly overseas brands, such as Adidas, Japanese Tiger, etc. (2) 1970s-1990s (sports awakening period): This stage has experienced jogging fever, women's sports craze, basketball fever, casual fashion fever, etc., and various brands take turns to take charge. (3) 2000 to the present (sports maturity period): the cultivation of consumers' sports habits has been completed, multi-brand mergers and acquisitions have been completed, and the competition pattern of double strength and multi-super has gradually become clear, and Nike and adidas have become comprehensive leading brands with breadth and depth. At present, the U.S. sports shoes and apparel market has formed a stable competitive pattern, and the strong are always strong. In 2021, the Nike Group had a market share of 16 percent in the United States5%, maintaining the leading position in the industry, far ahead. adidas has a market share of 60%, in second place. The market share of the TOP2 comprehensive sports brand leader remained at 20%+. Subsequently, the market share of brands such as Underarmour, Lululemon, Skechers, and VF was respectively. 5%, brands that focus more on subdivisions fluctuate with changes in consumer preferences and trend opportunities. 
Annotate, no more than 140 words (optional)Analysis of the sportswear industry in the United States from 2000 to 2010**: Euromonitor International Future Trends: After the pandemic, people are paying more attention to physical health, with 54% and 52% of respondents improving their health and doing physical wellness through exercise and outdoor activities, respectively. Not only have 39% of consumers recently purchased sportswear, but about half of them wear sportswear and participate in physical activity. 
Add**Notes, no more than 140 words (optional)Materials**: Cotton Incorporation Survey From the perspective of consumer expectations, people want to buy functional clothing and comfortable clothing, and clothing with moisture absorption, temperature control, odor removal, abrasion resistance, water repellent and other functions are more likely to attract consumers. In response to these needs, the world's top cotton fiber promotion agency - Cotton Incorporated has launched cotton technologies such as wickingwindows and transdry moisture absorption and quick-drying series and waterproof and breathable series stormcotton technology, so that clothing made of cotton not only retains the breathability and comfort of cotton, but also has the functions of moisture absorption and quick drying, waterproof and oil-proof, and non-static adsorption, which will become one of the trends of sportswear materials in the future. From 2000 to 2010, American sportswear has entered a mature market, and international brands such as Nike, Adidas, and Xtep basically occupy most of the market share of sports shoes and apparel. Under Armour has become the absolute leader with a 70% share, and the market has grown at an average annual rate of more than 15%, far exceeding other traditional sports shoes and apparel markets. Under Armour's strengths and weaknesses The essence of the industry is to meet the needs of customers in three layers: first, the functional characteristics are obvious; Second, sports technology continues to improve. The company continues to develop athlete-grade products and provides urgent order needs (orders are completed within one day); Third, brand character needs. In this sense, the essence of the high-performance sportswear industry is to meet the high-quality and functional needs of professional athletes. Under Armour's three major advantages: Under Armour's product personality positioning - professional, tight-fitting and fashionable. The products are diverse and the functional characteristics are obvious.
Under Armour was founded in 1996 by Kevin Plank as a rugby player. Tired of constantly changing cotton T-shirts during training, he hoped to invent tights that could stay dry, cool, and lightweight even in hot environments, so he founded Under Armour (UA) At that time, Under Armour was still a small brand, with very limited strength, and it was the first to focus on tight-fitting professional sportswear, positioning it in gym and rugby uniforms, and the launch of heatgear sports tights was very popular, and then coldgear was launched one after another And the all-season gear of the four seasons is also popular. At present, in the sports tights market, Under Armour occupies the vast majority of the market share, much higher than Nike and Adidas. In 2006, Under Armour began to launch eight American football boots, one of which was lightweight, breathable, and grippy. Football players who wear Under Armour's non-slip shoes can run on slippery grass with confidence. In August of that year, Under Armour became the third official sneaker manufacturer of the National Football League. In the same year, Under Armour's market share in American football boots rose from zero to 26%, while Nike's fell from 64% to 49%, indicating that the company's products are highly differentiated and functional, and capture customer needs. At present, Under Armour's business scope has gradually expanded to snow suits, racing suits, ** suits, fencing protective gloves, etc. 
Add ** note, no more than 140 words (optional) Second, the product is highly professional According to Michael Porter's five forces model, the analysis of the core competitiveness of enterprises can find that Under Armour's advantages were not very obvious at the beginning, and it needs to face the challenges of big brands Nike and Adidas. Moreover, the company does not have strong bargaining power for upstream raw material suppliers and downstream distributor customers, nor does it have enough financial power to compete with competitors and potential competitors in advertising and R&D investment. Under Armour, however, has a unique marketing strategy: grassroots marketing. Everything is based on athletes, providing close and fast service. Due to the company's lack of funds, it hopes to create ** and hot spots through high-quality services.
10. In a ten-to-hundred-way way, let the athlete circle spread that Under Armour is a professional sports brand. In one example, an athlete lost his jersey the day before the game, and the team manager looked around for a manufacturer to provide a new jersey, but all the manufacturers said that they could not produce it in one day, and in the end, only Under Armour took the order to produce even a jersey, and completed and delivered it within a day, winning the reputation of professional athletes in the circle. In addition to providing functional jerseys, sportswear companies also need to meet the sudden needs of athletes in order to build a reputation. Under Armour has invested heavily in a sewing machine workshop, so it can fulfill a large number of urgent orders in a matter of hours. In addition, if an athlete needs to make a competition uniform two or three days before the finals, the company can also tailor it to meet the needs. Consumers have the habit of following the trend, and after seeing professional athletes wearing Under Armour tights and giving them high reviews, they will also believe that wearing Under Armour skinny sportswear can also improve their sports performance and be very fashionable. Grassroots marketing reinforces the second level of the industry's essence, that is, the product has professional functions, can enhance the value of sports performance, and enhance the reputation of the brand. 
Add ** note, no more than 140 words (optional) Third, sportsmanship consumers want to reflect masculine charm through a toned body, for the public, buying Under Armour's product clothing can reflect the perfect muscle line, which is the easiest way to show men's bodybuilding, similar to the feeling of the flying Jordan wearing Nike air cushion shoes. For example, one of Under Armour's commercials shows a player who has gone through a hard workout, goes into the game, puts on a skinny tracksuit, and then gallops through the game, showing off his muscles and explosive power. The advertisement gives the wearer strength, ambition and fighting spirit, highlights the beauty of male strength, and transmits a concept to consumers: as long as they wear sportswear, ordinary people can also have the charm of athletes. This kind of positioning can establish a precise connection between the brand and consumers, and Under Armour is positioned as "sports strength beauty" and "men's sportsmanship and temperament". To summarize the above marketing level pyramid: the first layer is to provide a variety of products to meet the basic market demand; Second, through the grassroots marketing model, word-of-mouth marketing to consumers, each product has professional functions; Thirdly, it can show a sporty temperament. 
Add ** annotation, no more than 140 words (optional)Under Armour Disadvantages: Positioning the professional market, niche Under ArmourCan you enter the basketball market? The answer is yes. Athletes on NBA courts wore Under Armour clothing, thus promoting Under Armour, as in the 2001 NBA finals, when 42 million viewers saw Reebok spokesperson Iverson wearing Under Armour's arm guards. Under Armour catches the attention of the audience (potential consumers) and gets the opportunity to promote it for free. In the NBA, athlete James was also spotted by sports reporters wearing Under Armour's performance apparel under a Nike jersey. 
Add ** note, no more than 140 words (optional) At present, with the promotion and popularization of Under Armour's functional professionalism and sportsmanship, many women have begun to want to embody a sense of power and beauty that mixes masculinity, so it is increasingly favored by young female sports consumers. 
Add ** annotation, no more than 140 words (optional) Under Armour brand strategy focus: from a niche brand to an internationally renowned brand, Under Armour focuses on the professional service athlete market, and then spreads to mass consumers, highlighting the positioning of professional "sportswear and sneakers", which is manifested in the three levels from the product to reflect the basic functions of the first level, to the realization of professional functions at the second level, and then to the three levels of happiness in the spirit of sports. 
Add ** notes, no more than 140 words (optional) The rapid development of Under Armour's products in the United States illustrates a problem: after the Nike and Adidas giants occupy most of the market share, it is not that there is no chance for sportswear, but to see if small companies or new brands can seize the market differentiation point, find accurate market positioning, concentrate on firepower to attack a super selling point, and do it deeply. In terms of basic functions, at present, most international brands are basically produced by foundries, such as Nike, Adidas, Puma, Reebok, and Under Armour, which are currently produced by Taiwanese company Yue Yuen Industries, and the technology is not much different, and the raw materials (fabric and shoe raw materials) are not very different. Under Armour does not specialize in the development of new materials, but is good at using the existing scientific and technological achievements, such as the special product microfiber clothing is purchased. The reason why most consumers buy big sports brands is not because of raw materials and production processes, but mainly because of the sports personality and sports spirit factors represented behind the brand. Any big sports brand, such as Nike and Adidas, promotes a sports spirit through advertisements or endorsements, and consumers are encouraged and attracted by the sports spirit to make purchases. Under Armour's success is due to its characteristics of "tight-fitting functional clothing, embodying professional sportsmanship, and embodying the muscular beauty of men's bodybuilding", which arouses consumers' spiritual resonance and stimulates their desire to buy. Therefore, UA Under Armour's product placement also picks out tough guys in movies, including Dwayne Johnson, American comic heroes' Captain America, Batman, etc. Under Armour is dry and cool, and it's really a secret to the heavy costumes and gear that actors wear when filming films**. 
Add ** annotation, no more than 140 words (optional) In addition, UA Under Armour's store decoration style is relatively rough and tough, with cold and hard elements throughout, and through the cement slab texture of the wall and ceiling and the cooperation of cold lights, it fully reflects its tough, bodybuilding potential "muscular" association, that is, Under Armour is the spokesperson of bodybuilding and strength. After a long period of publicity, this connection was imprinted in the minds of consumers as "Under Armour = Fitness, Toughness, Muscleness, Strength", resulting in a powerful symbol of spiritual connection and successfully determining the brand differentiation positioning. 
Add ** note, no more than 140 words (optional) Company Resource EndowmentMcKinsey 7S System: Company Structure, System, Style, Staff, Skill, Strategy, Shared Values. Under Armour 7S System: Under Armour has established a sound organizational form for professional managers, and gradually improved the 7S system, including the company's organization, strategic planning, R&D and other systems, forming a perfect incentive system, corporate internal control system and common values of the company's culture. In the last 5 years: recession and re-growth In 2017, Under Armour not only experienced a sharp decline in performance, serious losses, but also suffered drastic high-level personnel changes, slow performance growth, the company's highest stock price in 2016 was $49, and later reached $7, and the performance was mainly supported by the growth of the Asia-Pacific region. Main issues: founders leave the company; U.S.-based companies are underspending on basketball and soccer sponsorships and advertising; There has been no obvious innovation in product quality and material technology content in recent years. In 2020, under armour's performance was sluggish due to the pandemic, and then through a series of breakthrough changes to drive recovery growth. In April 2021, Under Armour launched a "restructuring plan" aimed at rebalancing operating costs to improve profitability and cash flow. At the same time, Patrik Frisk also developed a "product innovation at the core" development strategy for Under Armour. By investing more in product innovation, performance, fashion, etc., Under Armour has been able to further expand its strengths in the field of professional sports that it is familiar with and excel at, so that its products will continue to be a stepping stone for its market expansion. In the first two quarters of 2021, the company's revenue returned to the growth track. China's Asia-Pacific market contributed 120% and 56% to Under Armour, respectively, in the first two quarters of 20211% revenue increase.
Add ** annotation, no more than 140 words (optional) Under Armour's revenue by region Source: Corporate Financial Report Under Armour in China: Ten Years of Development, Ten Dimensions Brand Positioning: High-end Functional Sportswear In 2011, Under Armour's first store in China settled in Shanghai, officially entering the Chinese market. Over the past decade, Under Armour has engaged in multi-dimensional conversations with Chinese activists (under armour's collective term for Chinese users).
Offline and online simultaneous marketing servicesIn terms of services, Under Armour's offline and online retail channels have been promoted to provide consumers with an increasingly rich and convenient shopping experience.
Add ** annotation, no more than 140 words (optional) Launch new sports technology productsIn terms of products, from the RUSH series to the HOVR midsole and Flow technology, Under Armour provides Chinese athletes with products equipped with various new technologies to meet their sports needs.
Add ** annotations, no more than 140 words (optional) interactive experience activities, increase in-depth communication with consumersUnder Armour also held activities such as the UARA Road Running Academy, the "Sweat Beautiful" Women's Sports Day and the UAROADSHOW City Tour, which not only provided a platform for Chinese athletes to showcase, but also promoted the development of national fitness.
Inviting celebrity athletes to interact with fans Under Armour has also created many opportunities for Chinese athletes to meet stars face-to-face, such as Chinese athletes such as Zhu Ting and Zhang Weili, as well as stars such as Phelps, Curry and Brady. Over the past decade, these stars' trips to China and various activities have left a lasting impression on Chinese consumers (athletes).
Add **Notes, no more than 140 words (optional) Provide professional value-added services, such as fitness advice and help In addition to its products and services, Under Armour is also developing its own value-added points in the Chinese market, such as providing fitness advice to Chinese users year after year, and helping athletes psychologically.
Respecting traditional Chinese culture, in 2021, the Chinese New Year short film "The Spring Festival Ox Arrives Home" was released, which combined the product with Spring Festival cultural elements such as Spring Festival transportation and dinners, and the personal logo of Dwayne Johnson was perfectly combined with the theme of the Year of the Ox, which resonated.
To provide opportunities for Chinese consumers (sportsmen) to showcase their sports achievements and skills, and to establish the UARA Road Running Academy.
Add ** notes, no more than 140 words (optional) to help the Chinese Olympic team. Under Armour also sponsored the Chinese 3x3 basketball national team, helping the women's basketball team win a bronze medal at the Tokyo Olympics.
In 2020, the cloud fitness program was launched to create a new form of interaction with Chinese users.
Add ** annotation, no more than 140 words (optional) Use the Ossaisi super brand engine system to review the underarmour brand strategy We use the new engine strategy system of the Ossaisi super brand to review the process of re-embellishment of the Under Armour brand strategy. The Ossaisi super brand engine system includes the following aspects: market background, brand strategic positioning, strategic breakthrough point, core performance (super KV, super discourse, others), and strategic results. The analysis of Under Armour's new brand strategy is as follows:
Add ** notes, no more than 140 words (optional) Under Armour through the analysis of the market, find the needs of customer pain points, accurately position the brand as high-end functional sportswear shoes, implement effective strategic breakthrough points (obvious brand differentiation positioning, strong implementation of the 4P matching strategy), successfully implemented the brand and consumer communication and spiritual emotional contact interaction, brand visual contact strategy, completed the influence penetration of the brand, and Nike, Adidas obvious differentiation, inspired and satisfied consumers young, noble, The emotional spirit of fashion, professionalism, sports, and bodybuilding power, the company's performance has risen rapidly, and it has become the leader of high-end tight-fitting functional sportswear in China, and the company has built a strong core competitiveness and brand potential.
Add **Notes, no more than 140 words (optional) Appendix: UA 20 |20 Moments in Under Armour's HistoryIn 1996, founder Kevin Plank invented a sweat-wicking skinny T-shirt and created the company in the basement of his grandmother's house. The product was first purchased by the Georgia Tech football team, and then immediately by the Atlanta Hawks.
Add a note, no more than 140 words (optional) In 1998, the company signed its first league-level contract and became the official NFL Europe. The 1999 Warner Bros. films "Any Given Sunday" (starring El Pacchino) and "The Replacement" brought the company a lot of **. In the years that followed, UA products were featured in ESPN's Playmakers sitcom and NBC's Friday Night Lights.
Add a note of 140 words or less (optional) to the 2001 contract with the NHL, MLB, and American baseball teams, making the UA the official advisor of these organizations. In 2003, the company's most successful commercial, "Protect This House", premiered. In 2003, UA released the first women's clothing production line. In 2005, the UA was listed on the NASDAQ. The first day ** price is 25$3, 95% higher than $13** for an IPO. 2005 UA Golf was released. In 2006 UA released its first pair of football shoes along with a "click-clack" ad.
UA signed a $60 million contract with the NFL to become its official sneaker manufacturer. In 2007, the company's first full-line retail store opened in Westfield Mall, Annapolis, Maryland. In 2008 the company's first first time slot of advertising was placed on the most watched TV show "Super Bowl". After this 60-second ad, UA unveiled its new line of training shoes.
UA releases its first running line line. In 2010, for the first time in history, it reached $1 billion in revenue. In 2010, the Micro G basketball shoe line was released, scheduled for the start of the 2010-11 NBA season. In 2011, Tottenham Hotspur announced that their five-year equipment sponsorship contract with UA would begin in the 2012-13 season, marking the first time UA appeared in a Premier League club. In 2013, Jordan Speights and Stephen Curry joined the UA team.
With annual sales of $3 billion, UA surpassed Adidas to become the second-largest sportswear and sneaker brand in the United States. In 2014, UA inspirational ** "I will what I want" (do what I want) was released, which won wide attention. Misty Copeland offers a unique perspective as a dancer for UA, a successful female marketer. In 2016 the UA and UCLA (University of California, Los Angeles) signed the most expensive contract in college sports, paying 15 for the school over a period of 2$800 million.
Add a **comment of 140 words or less (optional).
Add a **comment of 140 words or less (optional).