Swot Analysis Of Nikkei, Ideas and Under Armor
Strengths Ideas and Under Armor each have similar strengths like Nikkei, but they also have other strengths that set each apart from one another. Ideas and Under Armor are both financially strong. Ideas is present in over 200 countries and have a very wide product line, while its largest market is in Europe. Ideas is well known in sponsorships with soccer team, and has had its ups and downs in basketball, but currently they have risen with the endorsement of Derrick Rose of the Chicago Bulls. Under Armor is a strong brand that targets men in sports and have a strong endorsement deal with Carolina Panthers' Cam Newton.
Their mission is "To make all athletes better through passion, design and the relentless pursuit of innovation"( Plank). Ender Armor have an innovation and technology driven through its sports performance clothing design. Also, Under Armor earnings have made a significant increase in profit due to sponsorships of school and university teams, and serves as a sponsor for the Wounded Warrior Project. Weakness Ideas has limited exposure to the US market and few influential athletes to endorse sneakers in all sports. Under Armor is still relatively new.
Under Armor's mission has a narrow focus and it is male targeted. As Nikkei is expensive, Under Armor follows suit with no reduction in cost with other competitors and reduces sales. Other brands are now offering similar styles that made them unique. Opportunities Ideas and Under Armor both could take advantage by expanding the international market with new products and service-lines. Technology is a major part of this century, so e-commerce will help with expansion into other markets. At the present time increase in endorsements for Ideas and Under Armor can help bring in more people in a targeted age group.
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Under Armor can make competitive prices by lowering and by putting more focus on women because there is an increase in women in the sports workforce. Even though Under Armor is the newcomer to its well established competition, Nikkei, it can make expansions into to the global market to possibly create recognition as a larger brand. Threats Like any other competitor, there is new technology being created for sport improvement. It's Just the matter of who (company) creates it first, the style and look of it, and if the product works.
Nikkei, Ideas, and Under Armor are all threats to one another because they all have a common target, athletes and having almost the same product line. Under Armor is not a Fortune 500 like Nikkei, who was ranked 136 in 2012 (Fortune). This pose as a great threat to Under Armor, but with rapid growth these past years they sat at #51 for Fortune's fastest growing business (Under Soot Analysis By Boogied governing bodies, following the lead of the Olympics, banned Ideas' iconic three- stripe brand as it now appears on the company's apparel"(Shank 60).
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