Brought To You By Under Armour - Weebly
U n d e r A r m o u r S n o w s t o r m 1 Under Armour Snowstorm: Brought to you by Under Armour By: Gregory Baron, Seth Hidde, Mason Thorbjornsen, Corinne Wright
U n d e r A r m o u r S n o w s t o r m 2 Table of Contents Executive Summary Background What is Under Armour Snowstorm? Brand Equity Analysis Organizational Mission Organizational Vision Organizational Goals Market Assessment Market Selection Decisions SMART Objective Marketing Mix Decisions Advertising Survey Results Competitors Sponsorships Service Decisions Risk Management Trademark Financial Analysis Monitoring of Marketing Mix Anticipated Response from Competitors Appendix: Survey Survey Results Graphic I Graphic II Graphic III Works Cited 4 5 6 8 11 11 13 15 18 20 21 26 27 28 29 32 34 36 37 39 40 41 42 43 44 45 46
U n d e r A r m o u r S n o w s t o r m 3 December 2nd, 2013 Dear Matthew C. Mirchin, The brand image of Under Armour is very important, it is essential that we enhance as well bring positive recognition to this brand. This is why we bring to you Under Armour Snowstorm. Under Armour Snowstorm is the new revolution in winter athletic wear. The products that will be introduced in this new branch of the company will reach out to new markets while at the same time making the brand that much stronger. This new era of Under Armour gear will not only enhance our brand image but also increase our overall sales. Under Armour Snowstorm we feel is the new wave in winter sports products, we thank you for your time and hope that you are even more intrigued as you read through the rest of our proposal. Sincerely, The Public Relations Department.
U n d e r A r m o u r S n o w s t o r m 4 Executive Summary We at Under Armour are here to proudly announce our introduction of our new product line. Snowstorm is our new line geared towards winter sport athletes. As UA is currently growing at a rapid pace, we feel this is a perfect time to expand. We are looking to come out with new products that will be directly fit the needs and wants of skiers and snowboarders. Our goal is to reach into the market and be big time competitors in our first 5 years. For this to happen we are going to be sponsoring both males and females who have reached the professional level in either skiing or snowboarding. We also plan on sponsoring major events such as the Winter X Games as well as the Winter Olympics. As a company, we believe that sponsoring such mega events directly related to our target market is a perfect way to get our brand in the customer’s eyes. To start, we are going to have products such as board bags, helmets, custom boots for both skiing and snowboarding, bindings, snow shoes, and goggles with new technology. We feel that by being able to break into this market, UA will be able to expand even further if the Snowstorm line as successful as we expect it to be. Since Under Armour is already a house held name in a lot of middle to upper class families, it shouldn’t be too difficult to get out name out there. Since Snowstorm is an UA line, we are hoping that loyal customers will want to purchase are newest products that we are coming out with. Our brand image and loyalty is very important to us and we feel like by coming out with this new line there is only benefits to come for Under Armour.
U n d e r A r m o u r S n o w s t o r m 5 Background Kevin Plank, University of Maryland alumni founded Under Armour in 1996. He originally started by driving up and down all of the east coast selling clothing out of his car. The idea of Under Armour came when Plank was playing football at Maryland. He did not like the feeling of his wet shirt he used to wear under his jersey. He realized that his compression shorts would always stay dry throughout the day and then came up with his idea of making a shirt made up of synthetic fabric. Under Armour broke into the scene in 1999 when Warner Brothers asked them to make outfits for the films Any Given Sunday and The Replacements. Later that year, Kevin Plank bought an advertisement page for ESPN the Magazine. Under Armour was able to profit 750,000 from this advertisement alone. In 2000, Under Armour was asked to be the main uniform sponsor the XFL. A few years later, in 2003 when Under Armour launched its first commercial, there new motto “Protect This House” quickly became well known saying throughout America. Today, Under Armour has quickly become a top competitor to companies such as NIKE, Adidas, and Reebok. The company has now been expanded well beyond clothes and now makes high end sporting goods and accessories. They are now the main sponsor of the Cal Ripken JR. World Series as well as the NFL Combine. Today they sponsor some of the biggest athletes in their sport. Some of these athletes include Tom Brady and Ray Lewis of the NFL, Bryce Harper of the MLB, Michael Phelps, Lindsey Vonn a USA skier, and Canelo Àlvarez a Spanish boxer.
U n d e r A r m o u r S n o w s t o r m 6 What is Under Armour Snowstorm? When you think of the brand Under Armour many things come to mind. You think of top-notch athletic wear, whether it is a pair of football gloves or a pair of high top cleats. With Under Armour Snowstorm we are trying to enter the winter sportswear market and take it by storm. We have a new line of products that are going to truly revolutionize what people do out on the slopes but at the same time stay true to the brand and represent Under Armour as the top class athletic wear company that already exists. We plan on promoting our line of products to the already existing winter sports market and showing our potential consumers how versatile and innovative this new branch of Under Armour can be. The name Under Armour Snowstorm speaks for itself, when you think of a snowstorm there is high winds, icy conditions and you need gear that can withstand all of this. With the products that will be introduced to the market there will never be hesitation ever again when entering a Snowstorm. Our product line will tap in to the complete needs of all of our consumers. Whether it is the need for a winter hat or something as advanced as our revolutionary snowboard goggles. There is a product that taps into almost every need or want a consumer can have and we feel like that is very important. At the end of the day no matter what your revenue is or how many stores your product is in, the most important judgment tool is how responsive and satisfied your consumers are. We feel we have a product line that can really bring Under Armour to its absolute potential. When looking at all of the competitors and potential markets Under Armour
U n d e r A r m o u r S n o w s t o r m 7 Snowstorm seems like the answer. This branch off of the already successful Under Armour will bring this entire brand to a level that the global market has never seen.
U n d e r A r m o u r S n o w s t o r m 8 Brand Equity Analysis Perceived Quality Under Armour as a supplier of athletic apparel and equipment has already established itself as a top competitor in the ever growing sport market. It is widely understood and accepted that the Under Armour brand provides quality, durable, and comfortable performance-based products to its consumers. As proof of this, in a 2008 survey of runners, over one-third of respondents claimed that they purchased Under Armour brand footwear as a result of the brand’s product quality and over sixty percent said they would indisputably purchase the brand again (Kerrigan, 2008). This perceived quality of Under Armour footwear is vital to the success of the ski/snowboard boots in the Snowstorm product line. For apparel in the Snowstorm line, Under Armour ColdGear and HeatGear have already provided examples of the ability that the brand’s products have to regulate body temperatures in various weather conditions. We firmly believe that the perceived quality of and the customer experience with the Under Armour brand is what will push our new product line to be successful. Brand Awareness When consumers within the target market can recognize and remember the brand name, the organization has achieved brand awareness (Shank, 2009). Provided that Under Armour held 75% of the performance apparel market share in 2011, it can be assumed that brand awareness has been achieved. Furthermore, Under Armour products are synonymous with the Under Armour name which allows us to conclude that Under Armour has gone above and beyond brand awareness. An example of this synonymy is that when consumers are referring to their base layer apparel they do not say “base layer”, instead they simply refer to the apparel as “Under Armour”.
U n d e r A r m o u r S n o w s t o r m 9 Nike has been able to achieve this level of brand awareness with their footwear but it seems that Under Armour is the only brand to achieve this in the athletic apparel market. Additionally, Under Armour consumers go further than referring to their products by the brand name. Perhaps it was a strategy implemented by Under Armour or just luck, either way consumers often refer to their products by the name of the product line such as ColdGear or HeatGear. Provided with consumers who are currently overwhelmingly aware of the Under Armour brand, the Snowstorm line is faced more with the challenge of product awareness rather than brand awareness. As previously stated, the ColdGear products will greatly assist in this as they are vastly similar to products within the Snowstorm line. Brand Association A large part of Under Armour’s success can be attributed to their early efforts of associating themselves with sports and organizations that would increase the publicity of the brand. We understand that this is not only important for the brand, but for each individual product line as well. We plan to associate the Snowstorm line with professional winter athletes such as Olympic and world champion downhill skier Lindsey Vonn, a prime candidate to be sponsored by the Snowstorm line as she was recently featured in Under Armour’s “Under Armour Makes You Better” campaign. The campaign focuses on current professional athletes while conveying an underlying message of empowerment to youthful competitors. The current associations that Under Armour has with winter sport athletes will provide the organization with a platform that we can use to attract potential consumers within our desired target market. Furthermore, the use of both male and female athletes will assist Under Armour in appealing to both male and female consumers.
U n d e r A r m o u r S n o w s t o r m 10 Additional brand association exists within both domestic and international relationships that Under Armour has formed. In 2014, national winter-sport teams in the U.S. and Canada will be outfitted with highly innovative and stylish Under Armour performance apparel and equipment. Brand Loyalty According to Shank in Sports Marketing: A Strategic Perspective, brand loyalty exists when consumers display a consistent preference or repeat purchase of one brand over all others. Due to the market size and competition, brand loyalty can be difficult to achieve in the athletic apparel market. However, Under Armour’s consistent product quality and overall brand awareness provides the organization with a slight edge over some competitors. The major brands that Under Armour competes with for brand loyalty are Nike, Adidas, and Reebok. The Under Armour brand stands out because of the unique technology used in its products. Under Armour products are notorious for their durability but also their capabilities. As previously stated, the ColdGear and HeatGear lines are capable of regulating body temperature; the Storm product line is known for being water-resistant, a technology that causes water to bead up and dry on the apparel without absorbing into the material. We feel strongly that the technologies being introduced with Snowstorm will reinforce brand loyalty with our current customers as well as introduce potential customers to Under Armour with the intent to make them loyal to the brand.
U n d e r A r m o u r S n o w s t o r m 11 Under Armour Mission Statement o To make all athletes better through passion, design and the relentless pursuit of innovation Under Armour Vision o To empower athletes everywhere Brand Values o Respect the UGOP (Universal Guarantee Of Performance). Every product we build must be better than what’s currently available on the market—best in class. Every product must be field tested. And every product must make athletes better. That’s our guarantee. o Let’s Be Great. § Build great product, tell a great story, provide great service, and build a great team. o Integrity. § Without it we cannot be a team. o No One Person is Bigger than the BRAND – TEAM. § No athlete either. o Make One Dollar Spend Like Three. § We must be creative with the resources we have. o Help Others. § Volunteerism and serving others are vital parts of our mission. o Walk With a Purpose.1 1 All of the information on this page was obtained from www.ua.com
U n d e r A r m o u r S n o w s t o r m 12 § Everything we do is part of a deliberate, long-term strategy/vision. Know where you’re going. o Protect the UA Culture, But Embrace Change. § Evolve and innovate. We’re a different company every 6 months, and we can’t use culture as an excuse to not change product, process, or people. o Be Humble and Stay Hungry. § Nobody’s going to give us anything. We have to earn it every day.2 2 All of the information on this page was obtained from www.ua.com
U n d e r A r m o u r S n o w s t o r m 13 Organizational Goals As part of the Under Armour organization, our main goal is to create a new line that will be attractive to a new target market. The new Snowstorm line is geared specifically for winter athletes who enjoy skiing and snowboarding. This line will have many new products that Under Armour is first going to be making. We at Under Armour have set a timetable and are hoping to be top competitors within are first five years. Since Under Armour is not a “new” company already, we feel that our goals are not out of our reach. With are already big customer base; we are hoping that people will be happy to make the switch over from one of our competitors such as Burton or Oakley. We believe Snowstorm will be a very valuable line, because we are getting away from the typical UA lines of clothes and coming out with gear and accessories for skiing and snowboarding. Our goal of being a top competitor within 5 years, all starts with our advertising. We have contacted top winter athletes as well as up and coming athletes. We have talked to them about having Snowstorm being one of their individual sponsors. As well as sponsoring individual athletes, we are going to sponsor mega events such as the Winter X Games and the Winter Olympics. With the 2014 winter games right around the corner in Sochi, Russia, our organization feels this is a perfect opportunity to break into the market. By using our athletes, tabling and billboards, we feel it is a great way for fans at the event to get a look at our new line. Television is going to be are biggest and most efficient way to get people at home to get a look at our Snowstorm line. We are hoping that the pre-existing brand image and loyalty, Snowstorm will have an easier time breaking into the market rather than a new company building up from scratch. Under
U n d e r A r m o u r S n o w s t o r m 14 Armour is currently on the list of the fastest growing companies so we feel our customer base is already in existence and large enough for us to reach our goals. Our organization is hoping that our customers and products can help us reach our goal quicker than five years and hopefully make us the top of the competition in five years instead of just an average competitor.
U n d e r A r m o u r S n o w s t o r m 15 Market Assessment Market Research The Snowstorm line is engineered for the ski and snowboard industry. Although ski and snowboard participation rates decreased from 2011 to 2012, the accessory, equipment, and apparel sales in the industry have remained relatively consistent since 2004 (Snow Sports Fact Sheet, 2013). Reports show that sales in these three categories totaled over 3 billion during the 2012 season, an increase of 3% from the previous year. Since our product relies more on purchasing habits than participation, we remain confident that our product can thrive in the current market. SnowSports Industries America (SIA) reported that over one-third of the ski and snowboard population lives in areas that were directly impacted by Hurricane Sandy in the latter months of 2012 which directly impacted ski and snowboard sales in the South and Northeast through November, decreasing the sales by an average of 25%. SIA’s reports also indicated that ski and snowboard participants ages 25 to 35 have less time and discretionary income to devote to skiing and snowboarding. However, despite these two issues, SIA conducted a survey which revealed that almost 50% of surveyors’ buying habits remained consistent to past seasons. SWOT Analysis In an effort to project the likelihood of our product being successful we have conducted a SWOT analysis to outline the strengths, weaknesses, opportunities and threats that are foreseeable. Included in the strengths of the Snowstorm line are brand awareness and reputation. Given that Under Armour is a top brand, not necessarily in the ski and snowboard
U n d e r A r m o u r S n o w s t o r m 16 market but in the overall apparel market, we believe that consumers will be more willing to try our products as opposed to if we were a new company. Consumers throughout the entire sport market are aware of the Under Armour brand and the perceived quality that comes with it. Additionally, the uniqueness of our product is also a projected strength. Our apparel is engineered to retain heat and regulate the body temperatures of our consumers and the pairings of our equipment with the latest technological developments is unprecedented. The weaknesses of our product include entering an already cramped market which contains established leaders such as Oakley, The North Face, and Burton. Competing with companies who have been at the top of their respected market for long periods of time could make it difficult for Snowstorm to achieve its goal of becoming a top competitor within the first five years of its existence. Additionally, Under Armour has little to no experience in the snow sport industry which may make innovations and marketing strategies difficult to compose. Snowstorm has the opportunity to attract consumers who have not yet established brand loyalty within the market. As many skiers and snowboarders are equipped with multiple brands, Under Armour has the ability to create brand loyalty with these consumers. Also, due to some of the Snowstorm equipment being unprecedented, consumers are highly likely to try our products at least once, increasing the chance of brand loyalty being established between us and the consumer. The obvious threats in our situation are the established brands within the market and their ability to match our products. With today’s technologies it does not take long for one company to produce a similar product that has been engineered by a different company. With
U n d e r A r m o u r S n o w s t o r m 17 the existing snow sport brands’ experience in the industry, they might be able to quickly produce products that have better quality and performance than ours. After conducting this analysis we concluded that Snowstorm could use its strengths and opportunities to overcome any weaknesses or threats. Given that Under Armour is held in such high regard from a consumer’s prospective and is considered a leader in performance innovation, we believe that it is possible to become a top competitor in the snow sports market no matter what challenges and obstacles we are faced with. Competitive Analysis As stated in the SWOT analysis, there are many brands that Snowstorm will have to directly compete with. Due to the fact that Under Armour is not creating a brand new product, it will have competition in all product areas including apparel, accessories, and equipment. To be competitive we plan to launch products that are not new, but have new technologies not found in current products within the market. We feel that it is important to continue innovating and developing products into the future to ensure that our line remains competitive. Indirectly, our products must overcome the decreased participation in the ski and snowboard industry. Although decreased participation does not influence the buying habits of those who do participate, it could affect our overall sales. Reasons for decreased participation include weather conditions and sports leagues that run year-round. There is no way to combat what Mother Nature does, but it is possible to compete with other sports. Under Armour should work with the ski and snowboard industry to promote the skiing and snowboarding as both a sport and an activity which could help increase participation.
U n d e r A r m o u r S n o w s t o r m 18 Market Selection Decisions Segmentation & Target Marketing Our marketing segments include geographic, demographic, and behavioral segmentation. Our geographic segmentation will be molded by the market overview we have obtained from SnowSports Industries America (SIA) which stated that New York, Pennsylvania, Texas, Illinois, and California are the states with the most snowboarders. SIA also stated that almost half of snowboards also alpine ski so we can target these states for both skiers and snowboarders. The demographics in our target market vary significantly between skiing and snowboarding. SIA concluded that 29% of male and 24% of female snowboarders are under the age of 17 and 52% of alpine skiers are between the ages of 18 and 44. Similarly, both sports and male-dominated with alpine skiing consisting of 61% males and snowboarding consisting of 65% male. However, both sports include a large amount of female participants, both totaling more than 30% of their respective populations. The variety within the market will force us to be appealing to both young and old, and male and female participants. Furthermore, SIA’s research revealed that even in years when participation has declined, consumers purchasing habits have remained constant. This means that lower participation will not necessarily yield lower sales or revenue. This is important because it provides us with consistency in buyer behavior, allowing our marketing strategies to be more effective. Positioning We will attempt to position Snowstorm in a way that will most positively impact the line’s success. Under Armour is currently positioned as a leading brand in its existing markets and we believe this reputation and position will carry into the snow sports market. By portraying
U n d e r A r m o u r S n o w s t o r m 19 our product as a leader in innovation, quality, and performance we believe Snowstorm will thrive and stimulate the success of Under Armour’s climb into a new market.
U n d e r A r m o u r S n o w s t o r m 20 SMART Objective We hope to break through the snow sports market with Under Armour Snowstorm with the goal of becoming a top competitor in the market within the first five years. We believe this objective meets the SMART requirements of being specific, measurable, attainable, realistic, and time bound. We have targeted a specific market in which our product will be engineered for; we have multiple established competitors in which we can use to measure our success; given the resources that Under Armour has this objective is surely attainable; and giving Snowstorm five years to establish itself as a leading product line makes our objective both realistic and time bound.
U n d e r A r m o u r S n o w s t o r m 21 Marketing Mix Decisions Products: This new branch of Under Armour is focused on a few key products: Go-Pro Infused Solar Faced Snowboarding Goggles Our biggest project is this new revolutionary pair of snowboarding goggles. These goggles are so unique due to the fact that they have solar faces built in which provides these goggles with the ability to be charged when you are out on the slopes. What really makes these goggles so different from that of their competition is the built in Go-Pro camera linked with an interface that is over the eye of the rider. This built in Go-Pro allows the rider with the convenience and ease of mind when they want to record their runs. Every rider likes to be able to show their family and friends what their view looked like going down the mountain. No longer will riders have to worry about attaching a bulky camera on their helmets or goggles. This built in Go-Pro concept we feel like is going to change the game when it comes to snowboarding gear. Custom Under Armour Snowboard Boots When you think of Under Armour and any kind of footwear apparel it is natural to automatically think of a training shoe or an athletic cleat. When it comes to the brand Under Armour snowstorm we want the sole thought to be about snowboard boots. Under Armour already has a bunch of products that closely resemble what a snowboard boot would look like without the true functionality that particular boot would need. With our new products we plan to change all of this. Our snowboard boots are going to have the lightweight high ankle support of Under Armour latest Highlight Speed MC football cleat. White at the same time having the durability and waterproof features of Under Armour most premier hunting boot. What set our
U n d e r A r m o u r S n o w s t o r m 22 snow boot apart from our competitors are the reinforced ankle support and the snap in and out bottoms that will click into our custom binding pads. Innovative and new Snowstorm binding pads These bindings are unique due to the fact that they are made specifically to fit our snow boots. These binding pads are different from traditional bindings in the sense that they are just pads that the snow boots click into and out of with enough security and flexibility to accomplish all of your desires out on the slopes. We feel that binding pads are better than just normal bindings because for one they provide an easier time when getting on and off the slopes and they also make it that much easier for riders of all skill levels. Our goal at Under Armour is to always satisfy the consumer and we feel with how easy these binding pads are to operate this idea is a no brainer from a functionality standpoint. Key Note As a new branch of Under Armour we wanted to focus on just a few products in our proposal. When it comes to actual winter sports performance apparel Under Armour is already leading the market in that phase. We wanted to dive into an area of the winter sports market we felt that we were lacking in and that why we developed the Snowstorm line. These three products are all unique in nature and we feel as if these are the products that are going to truly put Under Armour as a whole into a league of our own. Price: When determining the prices of these products a lot of factors were involved, we wanted to have products that were affordable for our consumers but at the same time within a
U n d e r A r m o u r S n o w s t o r m 23 competitive range with our competitors. We felt it was very important to keep a balance between pleasing our customers as well as not selling our products short. When researching a price point for our Go-Pro Infused Solar Faced Snowboarding Goggles we researched similar goggles with similar capabilities. We found that these types of goggles ranged anywhere from 400 to upwards of 600, so we felt comfortable setting our price for these goggles at 475. We felt that this price is fair to the consumer and also puts us in a place to really take advantage of our comfortable price point. As for our Custom Under Armour Snowboard Boots, setting a price for these boots were a little more difficult since these boots correlate directly with our binding pads we had to keep this in mind. We wanted to set the price for the boots and the pads in an affordable range so that they could be purchased as a package deal if need be. For that reason we set the price of the custom UA boots at 250 and the binding pads at 150. Together that is a total of 400; this price combined still keeps us competitive with companies that are solely pricing their boots at this price. We thought long and hard about these prices and a lot of research went into these price point decisions. We are very comfortable and confident that these prices will prove to be successful. Place: Under Armour as a brand is a global name throughout the world. This company is located throughout countries such as Spain all the way to Australia. Under Armour Snowstorm is a continuation of this already successful global name. Under Armour Snowstorm is a product line that is obviously focused towards winter sports so as a company we plan on having these products available in locations that would have the highest demand for these new winter sports products. For example in the United States we would want these products readily available in areas such as Colorado, Vermont, Central and Northern New York. In a global sense we would
U n d e r A r m o u r S n o w s t o r m 24 want these products available in the northern countries such as Canada, Sweden, Norway and Finland. All of these products will be available on the Under Armour website but it is very important to have our products at
In 2000, Under Armour was asked to be the main uniform sponsor the XFL. A few years later, in 2003 when Under Armour launched its first commercial, there new motto "Protect This House" quickly became well known saying throughout America. Today, Under Armour has quickly become a top competitor to companies such as NIKE, Adidas, and Reebok.
work/products (Beading, Candles, Carving, Food Products, Soap, Weaving, etc.) ⃝I understand that if my work contains Indigenous visual representation that it is a reflection of the Indigenous culture of my native region. ⃝To the best of my knowledge, my work/products fall within Craft Council standards and expectations with respect to
Jeep Cherokee 14-21 under seat, DS 60 psi under hood, DS n/a Compass 11-17 under seat, DS 60 psi under hood, DS n/a Gladiator 20-21 under seat, DS 60 psi under hood, DS n/a Grand Cherokee 10-21 under seat, DS 60 psi under hood, DS n/a Liberty 08-12 under seat, DS or PS 60 psi under hood, DS n/a Patriot 11-17 under seat, DS 60 psi under hood, DS n/a
Wesley Marsh led our group with his ever faithful M274 Mule. Bob Durham brought his 1943 MB Jeep along with “Rosie the Riveter”. John Booth brought his 1944 M6 Bomb Truck. Lee Booth drove John’s M151 Jeep. Bill Grimes brought his M151 Jeep. Dan Simmon’s brought his newly restored Do
She brought us the special treat of Krispy Kreme donuts and Del Thomas made certain the See’s Candy arrived she delivered that box of chocolates to Betty Collins who brought the candies to the meeting. Again, thank you, everyone! November meeting is our fundraiser – FEST. No birthday treats need to be brought for the Hospitality Table.
the USA Hockey’s Board of Directors. USA Hockey-registered teams play in the classifications of 8-and Under (Mite), 10 & Under (Squirt), 12 & Under (Pee Wee), 14 & Under (Bantam), 16 & Under (Midget), and 18 & Under (Midget), prompting the Youth Council of USA Hockey to emphasize the educational and recreational values of ice hockey.
left-hand keys contain the following: Dot 1 under the index finger, Dot 2 under the middle finger, dot 3 under the ring finger, and dot 7 under the little finger, while the right-hand contains: Dot 4 under the index finger, Dot 5 under the middle finger, Dot 6 under the ring finger, and Dot 8 under the little finger. These keys are used to .
brought along 2 part built models for display. Firstly his “Bluenose II” which has been 3 years in the mak-ing (as he is build-ing several models at the same time). Tom also brought along his model of “HMT Dunera”, which has been 8 years in the making. These models were brought along
Gordon S. Rentschler Memorial Professor of Economics, Princeton University 609.258.3358 blinder@princeton.edu Mark Zandi Chief Economist, Moody's Analytics 610.235.5151 mark.zandi@moodys.com. HOW THE GREAT RECESSION WAS BROUGHT TO AN END 1 How the Great Recession Was Brought to an End
