Question

Clearly state the recommended solution for Under Armour with concise reasons in support; explain short-term and long-term implications; outline action plan; outline steps or phases in implementation. Address contingencies — what if…? Detail further work or research required. Select an alternative that you recommend for implementation. Develop key milestones and/or a step-by-step action plan that allows the organization/decision maker to execute your recommendation. Justification: Convince the decision maker in the case that your recommendation will work, that is, Defend your action plan. Draw on strategic management concepts that support your action plan and allow you to predict success. Consideration of contingencies: consider any contingencies or factors that might derail the success of your action plan. Risk management: What can be done to minimize the impact of these contingencies?

recommended solution: have under armour move into niche markets and prioritize womens clothing

Answer 1

To bolster Under Armour's market presence, the company is advised to target niche markets with a particular emphasis on women's clothing, accompanied by an action plan and contingencies to manage risks effectively.

Step-by-step explanation:

The recommended solution for Under Armour is to focus on niche markets and specifically prioritize women's clothing. This strategic move could potentially open up new avenues of growth and attract a diverse customer base. It's important to consider contingencies and objections to the solutions to ensure the plan is robust.

Action Plan

1. Conduct market research to identify the needs and preferences of women in various sports niches.
2. Design innovative products tailored to these niche markets.
3. Develop a marketing strategy that resonates with the target audience.
4. Implement a pilot program to test the market response.
5. Analyze pilot program results and adjust the strategy as necessary.
6. Roll out the campaign on a larger scale while monitoring performance.
7. Collect customer feedback and continuously improve the product line.

Contingencies and Risk Management

To address contingencies, a contingency plan should contain alternative marketing strategies and product adjustments in case the initial response is not as expected. It's also essential to have a risk management plan that identifies potential risks and outlines mitigation strategies to minimize the impact of those risks on the project.