2-1 Blog: Under Armour: Where Do We Go From Here?
In the article “ Under Armour's Willful Digital Moves" the market segment identified as women. The segmentation strategy implemented was launching a campaign targeting women on a multichannel platform, focusing on social media. When Under Armor launched its first campaign in 2014 targeting women it reached $15 million in sales and was the largest global women’s marketing campaign. Plank and his team debuted Misty Copeland as a ballerina remembering how she was rejected from a top ballet academy for not having the proper body type for a ballerina. As the ad goes on she dances beautifully showing how she never gave in to the rejection she was given previously. The name of the campaign is “I Will What I Want”.
When implementing segmentation strategies, there are five key points to remember identify your target audience, automation and machine learning, define segmentation criteria, develop tailored marketing strategies, and monitor and evaluate. Understand who your customers are and what their needs, preferences, and behaviors are. This will help you create relevant segments. Machine learning strategies can deliver the right content to the right person at the right time. Determine the factors that will be used to divide your target audience into segments. This can include demographics, psychographics, geographic location, or purchasing behavior. Develop tailored marketing strategies: Once you have identified your segments, create marketing strategies that are specifically tailored to each segment's needs and preferences. This could involve personalized messaging, product customization, or targeted advertising. Monitor and evaluate: Continuously monitor the performance of your segmentation strategies and evaluate their effectiveness. Use data and analytics to measure the impact of your strategies and make adjustments as needed to optimize results.
The market segment I have noticed in my shopping experiences that I would like to explore is Eco-friendly and Sustainable Products. This segment has gained significant traction in recent years, with consumers becoming more conscious about their environmental impact. To create a segmentation strategy, I will start by conducting thorough research to understand the target audience's demographics, psychographics, and behavior patterns. Identifying their preferences, values, and motivations related to eco-friendly and sustainable products. Then I would determine the key variables to segment the market, such as age, income, lifestyle, and attitudes towards sustainability. For example, you can target environmentally conscious millennials or eco-conscious families with higher disposable income. I will also select the most attractive segments based on their size, growth potential, and alignment with your brand values. Considering factors like accessibility, competition, and the segment's receptiveness to new products. When considering positioning, I will develop a unique value proposition that differentiates your brand from competitors. Emphasize the eco-friendly and sustainable aspects of your products, highlighting their benefits to both the environment and the consumer. I will create a marketing mix tailored to the target segments. This includes product features, pricing strategies, distribution channels, and promotional activities. For example, you can offer discounts for customers who recycle packaging or collaborate with eco-influencers to promote your products. I will Regularly assess the effectiveness of your segmentation strategy through market research, customer feedback, and sales data. Make adjustments as needed to ensure your approach remains relevant and resonates with the target market. This is an ongoing process, and it's crucial to stay updated with evolving consumer trends and preferences in the eco-friendly and sustainable products market.
References:
Mina Saghian, and Meghan Murray (Jul. 27, 2016) Under Armour’s Willful Digital Moves. https://services.hbsp.harvard.edu/lti/links/content-launch
Megahamala (Feb. 28, 2023) 5 Factors to Consider for Effective Customer Segmentation. https://aritic.com/blog/aritic-pinpoint/effective-customer-segmentation/
Silivia Sarti, Francesco Testa, Nicole Darmall (Aug. 2018) 5 Factors to Consider for Effective Customer Segmentation. https://static.sustainability.asu.edu/giosMS-uploads/sites/45/2020/02/Market-segmentation-of-consumers-based-on-their-actual-sustainability-and-health-related-purchases.pdf
