Prince Sports Business Analysis

Marketing research is very important component of a business used to identify and define the opportunities and problems that they will encounter on the market. The aim

I. Executive Summary II. Situation Analysis o Market Summary  Target Market Demographics  Geographic  Demographics  Behavior Factors Market Needs Market Trends Market Growth o SWOT Analysis  Strengths  Weaknesses  Opportunities  Threats o Competition o Product Offering o Keys to Success o Critical Issues III. Marketing Strategy o Mission o Marketing Objectives o Financial Objectives o Target Markets o Positioning o Strategies o Marketing Mix o Marketing Research o Action Plan IV. Financials o o o V. Controls o o o VI. Summary Implementation Marketing Organization Contingency Planning Breakeven Analysis Sales Forecast Expense Forecast

Golf ball manufacturers would be looking to achieve several key strategic goals, such as increased sales, increased market share and / or increased profitability, to adopt and implement PI’s technology. Accordingly, manufacturers are mainly concerned with the cost and implications on manufacturing, competitor reactions (and customer perception), the forecast growth in the new balls market, the share they could capture and the financial details of agreement.

Market research plays a significant role in shaping marketing objectives and strategies. This form of research is essential as optimal decisions can be made in areas such as sales performance, promotion, product, pricing, distribution and attitudes, allowing the product or service to grow. An example of market research in action lays with the company, “Boosted,” and has had an overall positive impact towards their second-generation electric skateboard product, boosted board. This skateboard can be controlled remotely without the need to push. The qualitative research in the form of surveys was conducted by Boosted, in which discovered that more than half of its users used their boards for daily commuting (Boosted, 2016). This survey makes known

Any competitor can see that the grass root approach to introducing, researching, collaborating, and a well-executed marketing plan can easily remove Prince as a Juggernaut in the tennis arena. Prince left the back door open in another arena as well. Social media is not a proprietary component and can cease to exist overnight if the public is no longer interested in it. This is where I think Prince left the door open and could be the second reason they fail to maintain growth. Having access to the needs and wants of a customer is the winning factor that all companies seek to gorge themselves on.

If this technology were universally adopted by all manufacturers, there may be benefit to the industry as a whole. However, value brand manufacturers feel that brand image might be tarnished by concern about consumer’s “infringement on their access to cheap used balls.” Additionally, high-end manufacturers’ sales, which represent 67% of total new balls market, will be reluctant to adopt the technology due the belief that the consumers may buy new value brand golf balls rather than their own premium brand golf balls.

Research truly is essential to the success of any marketing campaign or process and can greatly contribute to the success of a product, service or brand in the marketplace. Market research can help to determine risks and opportunities within the market, and can provide a greater depth of understanding of consumers and the target audience. Market research helps to define and solve research ‘problems’ and this is extremely beneficial to any business or organisation (Burns & Bush, 2003). By having consumer insight because of market research, marketers are able to promote a product to the true relevant target market, rather than wasting time and money promoting to the whole marketplace. There are two main methods of market research, being qualitative research and quantitative research. Both of these methods have benefits and can be used in conjunction, but for the best results one method of data collection is often used. Quantitative data focuses on a numerical approach to data collection via the use of statistics and information taken from surveys and census data. Qualitative data however focuses on gathering information and exploratory research through observations and interviews. The main approaches to collecting this type of data are experience or expert surveys, focus groups, and in-depth interviews (Diekroger, 2014).

Given the declining interest in golf since its peak in 2003 and the 2008-2010 recession, Altius has been challenged to revisit their strategy and determine ways to recover declining revenues as well as market share lost to lower-priced competitors. Since approximately 60% of Altius revenues come from the sale of golf balls which accounts for 85% of profitability it is important to specifically address declining trends as they relate to golf balls. Based on the market behaviors and the direction of the sport of golf, it has been suggested that Altius enter the value ball segment and begin competing with companies which have been growing their market share. The Elevate golf ball line has the potential to solve the financial and market share problems for Altius. However, there are also looming concerns about the new ball diluting the brands standing in the luxury/elite market.

This case study will analyze marketing principle and vision in the context of Prince Sports,

Every year newer versions of the tennis shoe are put on the shelves. Sensibly, each new pairs are just as expensive as the last, or even more so. Regardless of the prices, the “little man” with his ball still sold out within hours, often within minutes. So why do people still shell out money for these pricey tennis shoes? The answer can be found in the argument for the Jordan brand, greatness. If people see others who are wearing these sought after tennis shoes receive good responses and praises, it would only make sense for them to want to buy them. Unfortunately, a target for this marketing strategy also includes young children and susceptible teens. Most of them are at the age where they are craving attention and acceptance from their peers. And what better way to receive that then picking up the newest pair of Jordans.

For this marketing research the research design was descriptive and the method was quantitative, and the report will describe and evaluate more the descriptive and the quantitative, it addition that it will focus in the variables, sampling and questionnaire.

While Market Researchers may not understand the complete environment in which the decision maker operates, it is imperative that the Market Research address the real decision problem and not simply a visible, but incorrect, aspect of it. A marketing research project can be viewed as a series of steps that includes formulating the problem, determining the research design, designing the data collection method, designing the forms, designing the samples, collecting data, analyzing and interpreting the samples, analyzing and interpreting the data and preparing and finalizing research reports. When the problem is formulated correctly research can provide important information including specifying the objectives of the research project. When formulating the problem the first role that market researchers take is finding the problem that is to be solved.

(MARKET RESEARCH) We use market research to gain valuable insights about our customers, the market condition, and our competitive surroundings. We use this knowledge to build a more effective marketing plan. This focuses on specific information regarding our target market and the key factors that influence their buying decisions. When conducting this information, it is very important to keep in mind six marketing research questions which include Who, What, Where, When, Why, and How. Who is purchasing and consuming sport products and services. What is the competition, what do the customers want and need, and what factors influence purchase decisions. When is the purchase decision made and when is the purchase used. Where is the information sought and where is the decision made. Why is the purchase made. Last but not least, how is the product or service used. Our primary research is the direct contact we have with our clients, and by doing that we use focus groups to gather small groups of people together for a discussion with an assigned leader. We also engage in customer surveys for existing customers as well as potential customers. A few of the questions that are asked in our survey include do you attend a gym? How old are you? In a typical week, how many times do you exercise? What time do you normally attend the gym? Why would you want to join a gym? Do you usually go

Once a decision is made to use marketing research, management goals and objectives determine the type of selection methods used. There are a wide range of market research tools and methods available to decision makers. Depending on the goals and objectives of the company, researchers have many options. Some of the research tools include mail and web surveys, personal interviews, and focus groups. This paper will discuss and differentiate among the various tools used in primary and secondary research as well as discuss the differences when using qualitative and quantitative approaches. This paper will further identify which tools are used for each approach and why. The primary purpose of marketing research tools

In affluent society, playing tennis is a sport which requires high endurance, patience and full physical strength’s activity. Besides, it also requires equipment which is the tennis racquet. In the early century, most of the tennis racquets were made of laminated wood, with heads of around 65 in sq. [1] At that time, most of the tennis players have faced a problem during playing the tennis as the wooden racquets seem quite obsolete or perhaps even inadequate. In details, it is too far and too slow, weak, or heavy for professional tennis players who increasingly measure from the length that much higher about six feet. [1]