Marketing Mix of Under Armour
Under Armour is known as an innovative company that makes especially designed apparel and footwear for athletes. It entered the market in 1996 with its compression T shirt. Since then, it has brought several innovative products to the market designed to boost performance. There are several factors that can hinder performance in sports. There is the effect of season and many other factors which affect performance in sports industry. Under Armour brings not just sportswear and apparel but performance solutions so that athletes can perform at their best.
Here is an analysis of its marketing mix that evaluates the four P’s including product, place, price and promotional aspects of its marketing.
Under Armour has brought several innovative products that are made to boost performance in sports. These products are also highly popular globally for the advantages they provide. Some of the most popular products made by Under Armour are as follows:
- Golf Shirts
- Training Gloves
- Basketball Tops
- Running shorts
- Running shoes for men and women
- Mens Basketball shoes
- Rugby Shirts
- Mens Basketball shoes
- Tennis clothing
Under Armour Chest Strap and similar more apparel, shoes and accessories. UA also sells a large suite of connected fitness applications.
Under Armour has expanded globally. However, it sells products both online and offline. It serves different countries through different websites. Apart from its own websites, its products are sold through other websites like Amazon too. The company operates 188 factory house stores of which 150 are in North America. It also operates its 57 brand house operates of which 18 are in North America. Its distribution system is made of national and regional distributors as well as independent and specialty retailers. Apart from licensing products for sales worldwide, it sells directly to consumers via its stores and through online channels.
The pricing approach that Under Armour uses is value based pricing. This approach uses data on perceived customer value of any product to determine the suitable selling price of a product. So, rather than focusing on raising prices can be raised in a competitive environment VBPO approach focuses on how additional customer value can be created and how the customer willingness to pay can be increased despite the strong competition in the market. While UA faces intense competition from the other brands, the consumers appreciate its quality of products and are therefore willing to pay premium prices for its innovative products.
Rather than relying on just a cool logo or a great and stylish slogan, UA has used innovation to market its brand. Over time, the brand has come to be known best for its innovative products. Every product does something unique and serves some unique purpose. Originally, it did not use expensive marketing techniques and campaigns for the marketing of its brand. However, in the recent years, it has cleverly used sponsorships to market its brand better. Under Armour also spends on advertising. It uses social media like YouTube to promote its products through creative videos. It also uses its Facebook account to demonstrate its passion for innovation and to showcase its stylish and innovative products.