I need someone to do a market analysis for me, it's for Under Armour. For my management cases-problems class. I will attache the financial analysis I did the file named " Used this -- UA financial...

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1 Feb. 2020
Under Armour Market Analysis
Market Analysis
Under Armour Inc., an American sports good manufacturer supplying causal as well as athletic apparel along with footwear is key competitor with Adidas and Nike (Statista Research Development). It was founded in 1996 making it way younger compared to the Nike and Adidas. With the high profits of Adidas and Nike, there has been continuous struggle for under Armour to compete the footwear market. These 2 companies are core top manufacturers for athletic footwear having a control over 63 percent of market (Van Riper, 2013). In year 2014, Under Armour Inc had generated revenue of $3.08 B which is a 32 percent increase from the last year i.e. 2013 and this was the first time company topped annual sales of $3B (Sarah Meehan, bizjournals.com). There has been progressive sales revenue growth for last 3 years in Under Armour with the sales revenue of $1835 million in year 2012 to $2332 million in year 2013 and $3084 million in year 2014. During this period, company’s sales growth was at peak along with year by year growth of company at rapid pace (Under Armour annual Report, 2014).
In case, Under Armour misses to add footwear in their range of collections seamlessly, there were chances of them being disappear over time from the market along with loosing relevance. Also, cheaper alternatives were provided by several other brands in footwear and apparel section which were way more appealing to customers during economic hardship time that hindered the Under Armour’s sales further. With the help of opportunities and threat assessment in the environment where company exists along with getting a clear understanding of the strengths and weaknesses regarding the strategies of their business, there were chances for Under Armour to move towards establishment of the across all merchandise realms equally. With the help of these assessments, market segmentation of company into the respective groups considering the uses as well as needs of products was quite feasible that further facilitated the targeting and positioning of merchandise in order to earn higher profits margin.
Competitive strategy
    Competitive strategy is basically the long term plan of organization to attain competitive edge over competitors in industry. The core focus of Under Armour was on selling and marketing products to customers for athletics use primarily along with training, fitness and outdoor activities. Under Armour seek to drive demand of customer by building brand awareness and equity that their products tend to deliver advantages helping athletes perform better in every single aspect (Under Armour Annual Report, 2014). Adidas and Under Armour uses the same competitive strategy that is focused differentiation whereas the competitor Nike uses broder strategy which is broad differentiation. Under armour not only competes with footwear and apparel companies with brand recognition but also for purchasing decisions. Under Armour believed that they had been successful due to development of relationship along with product’s strong sales. Also, the brand recognition and image, quality and performance along with selective distribution policies offered competitive advantage (Under Armour annual report, 2014). In contrast, Under Armour and Adidas further focus their target markets by catering to niche markets, using focused differentiation strategies. In fact, Under Armour’s strategy is chosen to directly compete against Nike’s strategy, helping Under Armour cut into some of Nike’s market share (Schlossberg, 2015). Rather than try to be a broad supplier of athletic footwear and apparel, Under Armour is content to be the “underdog brand,” which is a term that it has embraced (Schlossberg, 2015).
SWOT analysis
    Presence of Under Armour in sportswear market in US is quite strong. It currently holds largest market share in the segment of the performance apparel along with being pioneer in industry (Business Case Journal, 2012). It strives to be international market leader and thus is totally focused towards improvement in footwear sales both internationally as well as domestically. Research and development team of Under Armour had core focus towards growing its presence in the industry of athletic footwear. Target population for Under Armour is men, children and women from upper class as well as middle class backgrounds. Typically, a customer for Under Armour is health conscious and athletic. High quality lines of organization are athletic footwear, performance apparel along with the sporting accessories that appeals to wide demographic range. Competitive pricing strategy is also being used by Under Armour to increase its sales and market presence. For instance, a pair of football cleats for men by Under Armour would cost $119.99 whereas that from Nike would cost $129.99 and Adidas would cost $99.99 (Business Case Journal, 2012). Under Armour typically placed its price in between Adidas and Nike but it does not offer much discounts to its items thus making selling price slightly higher. Products from Under Armour could be sold in large department stores, websites, foot locker as well as finish lines (Subramanian et al, 2013).
Strengths
    Under Armour being a well known brand is basically known for interlocking UA on products where the moisture wicking technology is being adopted and implied on the products. This takes the moisture from body keeping the wearer dry and cool. One of the strength of brand is that there are several apparels as well as accessories that spans off field as well as on field sports including fishing, hunting, soccer, football, running etc. The business is run by founder Kevin Plank along with many family and friends that makes it a tight niche group of managers sharing similar ideas and values. Strict quality control standards are held for all of their 3rd party manufacturers which are subject to quality checks as per the Under Armour’s licensing agreement. Currently, market share as held by Under Armour in performance apparel sector is 73% as per 2013 (Under Armour- Trefis). MapMyFitness platform is offered by Under Armour generating digital fitness subscription, digital advertising and licenses (Consulting report: Under Armour, 2014). Furthermore, the spread of them to several other global markets has been advantageous especially their specialty store opened in year 2011 in China. Along with these, having variety of contracts with college teams, professional athletes as well as high school teams allows them to be noticeable and in public’s eye. A continuous growth in annual revenue, strong financial earnings year by year has supported to build market recognition even more (Statista Research Department, 2014).
Weaknesses
    Firstly, products from Under Armour are quite expensive along with not possessing very strong global market presence specifically in China and Europe (Annual Report Under Armour, 2014). Unlike their competitors, they tend to use manufacturers from outside for production of goods whereas most of other key competitors have domestic manufacturers completely or mix of foreign and domestic manufactures. 5 main suppliers are used by Under Armour for the raw materials and the synthetic fabrics to be used on product’s production. Also, it is vital to note that in 14 countries, 29 unaffiliated manufacturers produce their...