Strategy and Positioning Paper

Strategy and Positioning Paper






Strategy and Positioning Paper
MKT/421












Strategy and Positioning Paper
Introduction
When a company makes the decision to develop a new product there are many variables to take into consideration. The company must do market research to find out what the customer needs are and what similar products your competition is developing. You company wants to make sure that they promote the new product through the best channels to reach the target market that the advertising was intended to reach. You want to ensure that your company develops a product that is innovative and sets itself apart from the competition. The new product should be unique and make customers purchase your product instead of the competition. In the following, our team will discuss Under Armour’s launching of a new swimwear line and what UA needs to do to ensure the new product will be successful.
Overview of organization
Under Armour was founded in 1996 by former University of Maryland football player Kevin Plank. He started the company with a simple plan to create a superior T-shirt. During his playing days, Kevin hated changing his sweat soaked T-shirts and this is what set him out on a mission to create a solution. In 1996, he started Under Armour in his grandmother’s basement and was traveling up and down the east coast selling his product. In 1998, the company had grown and he moved the headquarters and opened a warehouse in Baltimore. Under Armour received a huge break in 1999 when their gear was worn in the popular football film Any Given Sunday. This opportunity motivated the company to pay for their first print ad in ESPN the magazine, which helped to increase their sales by $750,000. They launched their first TV campaign in 2003, which resulted in their brand becoming a household name. Over the next few years, Under Armour entered the cleat and footwear business and was quickly expanding their popularity. Under Armour used its unique products and...

Similar Essays