The paper "Business strategies of Under Armour" is a wonderful example of an assignment on business. Which of the five competitive forces is strongest and why? Product innovation is key is relating to the demands of the customers. It remains to be important in controlling inventory and thus acquire more market share in a very dynamic business environment. Who are Under Armour's top three competitors to watch in the sports apparel industry? Why? The global market for sports apparel is highly competitive because the products are not easily differentiated. The top three competitors of Under Armour are Nike, Adidas, and Puma.
These players are considered the three competitors due to Global Sports Apparel Market share they command and the obtainable revenue. What are the differences between the competitor's strategies Under Armour, Nike, The Adidas Group? Which company has the better strategy? Why? Some players such as Under Armour focus on athletic apparel products of high quality-innovative performance. Other such as Nike concentrates on both constant innovation and differentiating their products to target specific sports athletes and increase their market share. Nike has proved to have better strategies and this is evident in the huge global market they command in athletic apparel products.
Their athletic apparel product offerings place this multinational in a niche market while differentiating the company from all competitive sets. Using the financial data provided in the case study, which of the three rivals has been the best performer? Nike is the main competitor in the industry commanding close to 15% of the global market share and 42% being in America thus can be considered the best performer. Nike has remained a vital brand power while playing industry positioning role. What can Under Armour learn from its competitors?
There is a need to employ strategies that make their sports products appear unique despite the competition and target ignored sports segments. Likewise there need for Under Armour to understanding which of their competitor’ s products trend online and use this information to adjust the company’ s inventory to demands by customer. By incorporating all these changes into the company’ s marketing strategies, they will get closer to challenging their competitors. What can you apply to organizational work in your sector from what you in the Under Armour case?
The organizations remain to be dynamic and competitive to date and as such review of strategies helps to remain competitive and acquire more market share. Exploring various options allows any company to learn a lot from competitor success and adopt better strategies to remain competitive. Top of FormBottom of Form