Under armor is a sports fabric company that was started by Kelvin Plank who was once a team member of Maryland. He developed this idea to make different types of clothes and other general wears like gloves and many others because he used to get upset by the stink he experienced after a match or a training session. An idea of starting a different cloth fabric was to replace the cotton fabric that was in existence with a cloth fabric that reduces the discomfort of sweat during summer. All these ideas came up in his mind some years after completing his studies at the university. This article is going to point out the management strategies that Kelvin Plank used to develop his idea gradually from KP sports to the current great company Under Armour.
Identification of a Business Idea
As a matter of fact, Plank's idea of making improvements in sports wears grew up. From an idea that emerged in his mind, he was able to transform his thoughts into a good product that is benefiting humans worldwide. Once someone has a business plan, he/she needs to embrace it with actions of how to implement it to a business opportunity just the way the founder of UA Company did.
Identification of Prospective Customers
When he had already made his first product, Plank went ahead to identify the people to show his product so as to test its worth and importance. This is a promotion strategy of creating awareness of the goodness of his product. The first prospective users he targeted were members of his former Maryland team, and school team members. He expanded his target group from village-wide to country wide.
Involving Other Stakeholders
After creating awareness by offering some t-shirts to over 40 of his friends, he realized that the product would attract many people from the way his friends reacted to it at first appearance and texture. He later involved Fulks a prominent player of Lacrosse at Maryland so as to use his fame to advocate for the promotion of the product to his team members and a wider group of people who were his fans.
Identifying Ways of Improving Product and Marketing the Product
The company realized some profit in return which later spearheaded the need to take loans to make innovations on the product and inventions of products to accompany the T-shirts like Shoes and undergarments. They made this advancement by replacing cotton made products with a well-designed fabric in both T-shirts, gloves, and underwear. Plank and his business associates including his brother shared out responsibilities to enable the company to expand across the world. The company thought of different ways of improving and marketing the product that includes, enhancing developments to cover up various needs of the economy, distribution, product branding among others. The company also devised ways of making the product at various suite seasons of the year like summer and winter.
Promotion of the Product
In order to increase the market, the managers agreed to involve development ways which include media advertising, using sports, among others. In addition, the company improved ways of distributing the product as a branch of the means of promoting the awareness of their product. The strategies of distribution included retail and wholesale.
In conclusion, the companys growth came up as a result of coordination of the owners and maximal use of the strategies stated in the above paragraphs. If the above management strategies are strictly followed, then any ones idea can be made to become an essential product in the world.
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