2019---

Under Armour's primary strategies to compete in the marketplace include leveraging their innovative products, amplifying their brand marketing globally, investing in their direct-to-consumer business, and creating powerful athlete franchises like Dwyane Johnson's Project Rock and Stephen Curry's SC business. They have also focused on operational, structural, and process improvements to improve their balance sheet, and have streamlined their go-to-market process to cultivate and curate elevated product franchises. Finally, they are leveraging partnerships like Virgin Galactic to help redefine the boundaries of performance.

Explanation:

In terms of athletic performance clothing, footwear, and accessories, Under Armour is a world leader. The business has put numerous tactics into place to make sure they keep one step ahead of the competition in order to remain competitive in a highly competitive sector.

First, Under Armour uses its cutting-edge merchandise to offer customers the highest performance clothing, footwear, and accessories. They combine design, attractiveness, and technical characteristics to generate cutting-edge features like Under Armour Coldgear, Rush, Recover, and UA HOVR that give users the edge to push past any limit. To further expand their reach, they have also developed successful athlete businesses like Dwyane Johnson's Project Rock and Stephen Curry's SC company.

Second, Under Armour has made investments in their direct-to-consumer business to provide clients with a first-rate, frictionless experience. This features a better customer relationship management system and an upgraded eCommerce platform in North America. In order to select elevated product franchises that fulfill their aesthetic, performance, and fit standards, they have also adopted a streamlined go-to-market procedure.

Finally, Under Armour has considerably increased its use of brand marketing to promote awareness, participation, and consideration globally. They have established a powerful global brand strategy, "The Only Way is Through," to remind and excite consumers as to why Under Armour is distinctive. They also collaborated with Virgin Galactic to employ its cutting-edge technologies to outfit the upcoming space race.

In order to strengthen its balance sheet, Under Armour has implemented significant operational, structural, and procedural improvements. This involves more methodical inventory control and carefuler capital budgeting. With the help of these tactics, Under Armour is in a good position to overcome many of the difficulties that lie ahead, rekindle, and further strengthen, their relationship with their target audience.

Overall, Under Armour's business methods have helped the company maintain its competitiveness, put it in a position to grow again, and increase shareholder returns. They are well-positioned to flourish in the upcoming years thanks to their innovation, direct-to-consumer business, brand marketing, and operational improvements.

2020

Under Armour's key market initiatives are to focus the health and safety of their teammates, launch their North American eCommerce site, sell the MyFitnessPal platform, and undertake a complete reorganization effort. They have also worked hard to seek a clearly defined target customer, restructure their cost structure, and radically modify the way they work. The firm has also worked hard on their innovation agenda, selling one million pairs of linked footwear, and strengthening their relationship with customers. They've also generated product sales and targeted partnerships to help support youth sports in underserved regions, taken a channel-agnostic strategy, and pushed to provide more lucrative formats and higher in-store efficiency. Finally, they have pledged to generate more resource-efficient goods, to leave a cleaner world everywhere their brand touches the environment, and to offer value to the communities in which they operate.

Explanation:

To compete in the market, Under Armour has employed a variety of methods. First and foremost, they have emphasized their colleagues' health and safety in the middle of a worldwide epidemic. This allows them to secure the safety of their staff and consumers, which is crucial to their success. They have also developed their North American eCommerce platform, allowing them to remain competitive and access a larger client base. Furthermore, they divested the MyFitnessPal platform, allowing them to focus their attention on other aspects of their business. Lastly, they have conducted a major reorganization exercise, which has helped them to become more efficient and cost-effective.

Under Armour has also worked to seek a clearly defined target market, rebase their pricing structure, and fundamentally restructure the way they work. By defining their target client, they are able to design their products and services to match the requirements and wants of this particular demographic. Also, they have been able to rebase their cost structure in order to be more efficient, saving money in the long-run. Eventually, by altering the way people operate, they are able to become more productive and successful.

The firm has also worked hard against its innovation goal, which includes goods like as the Curry 8 basketball sneaker, the UA HOVR Machina, the Phantom 2, and the Breakthru footwear options. Also, they have exceeded one million pairs of linked footwear, which is a big milestone in increasing their relationship with consumers. Additionally, they have built product sales and focused collaborations to assist support youth sports in under-resourced regions, which is a significant way for them to give back to the community.

Under Armour has also taken a channel-agnostic approach, which has allowed them to meet consumers wherever and whenever they want to interact with them. By doing so, companies are able to generate a more seamless purchasing experience across all consumer touchpoints. Also, they have pushed to generate more lucrative formats and higher in-store productivity by decreasing promotional levels. This method has helped them to sustain a more constant earnings trajectory over the long-term.

Ultimately, Under Armour is dedicated to developing better, resource-efficient goods, leaving a cleaner world everywhere their brand touches the environment, and delivering value to the communities they engage. By doing so, businesses are able to demonstrate their dedication to sustainability, which is vital for their success. Also, this technique helps them to fulfill the rising demands of their clients and acquire their trust

2021

Under Armour's primary strategies to compete in the marketplace are to focus on innovation, consumer connectivity, operational excellence, and financial discipline. They are investing in brand strength through powerful storytelling, strategically placed media, and targeted e-mail activations. They are also investing in their online and in-store experiences to provide personalized, unique shopping experiences. They are focusing on delivering higher-quality products such as UA RUSH, UA-ISO-Chill, Rival Fleece, and their women's bra's and bottom's business. They are also investing in their Access to Sport initiative to break down barriers for the next generations of those who strive for more. Finally, they are committed to sustainability and social impact, providing greater transparency around their progress in these areas.

Overall, Under Armour is focused on empowering those who strive for more through innovation, consumer connectivity, operational excellence, and financial discipline.

Explanation:

Under Armour's primary strategies to compete in the marketplace are to focus on innovation, consumer connectivity, operational excellence, and financial discipline.

Innovation is at the core of Under Armour's strategy. They are investing in higher-quality products such as UA RUSH, UA-ISO-Chill, Rival Fleece, and their women's bra's and bottom's business. They are also investing in their Access to Sport initiative to break down barriers for the next generations of those who strive for more.

Consumer connectivity is also a key part of Under Armour's strategy. They are investing in brand strength through powerful storytelling, strategically placed media, and targeted e-mail activations. They are also investing in their online and in-store experiences to provide personalized, unique shopping experiences.

Operational excellence and financial discipline are also important to Under Armour's strategy. They are staying disciplined and focused on their vision to inspire athletes with performance solutions they never knew they needed. They are also streamlining their wholesale business and prioritizing opportunities for more holistic expression. They are also being intentional in creating and pulling levers that drive their profitability.

Finally, Under Armour is committed to sustainability and social impact, providing greater transparency around their progress in these areas.

Overall, Under Armour is focused on empowering those who strive for more through innovation, consumer connectivity, operational excellence, and financial discipline.

Question - From the annual reports of Under Armor for the year 2019, 2020, 2021. Use the statements above to identify and summarize company'sprimary strategies to compete in this marketplace.