Under Armour SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Under Armour, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Under Armour to benchmark its business & performance as compared to the competitors, and make strategic improvements. Under Armour is one of the leading brands in the lifestyle and retail sector.
The article below lists the Under Armour SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Under Armour SWOT Analysis:
In this article:
For Under Armour, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Under Armour looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Under Armour :
1. Under Armour is a leading sports apparel company and expanding to various sports, it has increased its business manifold
2. The prime feature what differentiates the company’s products from its competitors is the innovation in the highly engineered products which make the athletes feel better in weather extremes.
3. Under Armour has a strong community involvement with programs like UA Give Back with different branches like UA Power in Pink, UA Freedom and UA Win Global.
4. Acquisitions of digital app maker MapMyFitness , the calorie and nutrition app MyFitnessPal and fitness app maker Endomondo further diversify the revenue sources of the company.
5. High and constant growth in revenues ensure billion dollar turnovers for the company
6. Increasing share price of Under Armour boosts investor confidence
7. Shoes are the fastest growing product line of Under Armour along with its apparel product line
8. Under Armour invests in advertising and uses channels like social media, digital marketing, billboards, TV campaigns, print ads and sponsorships
9. More than 10,000 employees are a part of the organization globally
10. The company has annual revenues in the range of $5 billion
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Under Armour SWOT Analysis:
1. Relatively new company with limited stores and presence in few markets.
2. Consumer Products Safety Commission of the US announces a voluntary recall of Under Armour brand athletic cups which might break when hit causing serious injury.
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Under Armour SWOT Analysis:
1. Since innovation is the backbone of the products of Under Armour, with its constant innovation it can extend its product line to increase the benefits offered and attract more consumers.
2. Huge potential since the company is a relatively new company, it can expand to unexplored markets in Asia, Europe and Australia.
3. Kids comprise the largest consumer market in terms of sports apparel, team gear and equipment and the company’s partnership with NBA league will create high brand visibility for the viewers who are mostly kids.
4. Tapping online shopping can be a big boost for Under Armour
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Under Armour are as mentioned:
1. Competitors have higher global brand recognition and recall with high customer base globally which is a major threat for Under Armour
2. Some products like chin straps or athletic cups which may cause injury to the athletes are very sensitive and can harm the brand name.
3. Brand awareness is still low compared to global apparel & footwear brands
There are several brands in the market which are competing for the same set of customers. Below are the top 12 competitors of Under Armour:
3. New Balance
Hence this concludes the Under Armour SWOT analysis.
Continue reading more about the brand/company.
|Under Armour Overview|
Clothing, footwear, sports equipment, accessories
Protect This House
Under Armour has an untiring pursuit of innovation and passion in its products to make athletes feel better
|Under Armour STP|
Athletes and sports wear enthusiasts
Premium and stylish sports wear targeting individuals who seek comfort as the prime factor along with style during athletic activities.
Under Armour is positioned as a brand, every product of which does something for you, that is makes you feel better.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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