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Prince Sports Business Analysis

Decent Essays
For many companies, sales figures are usually a measure success, tennis is no exception. In North America, tennis can be measured by the annual racket and tennis ball sales (Heitner, 2015). Prince Sports, a sports racquet company, has several different product lines. Their Prince brand serves tennis, squash, and badminton players. Racquet ball players may recognize the Ektelon brand and the Viking product line equips platform or table tennis players. Prince Sport’s tennis line consists of over 150 different racquet models, more than 50 different tennis string variants, footwear, apparel, and countless types of bags. Prince Sports has prided themselves on their history of developing innovative items such as the first oversize long…show more content…
Socially, what is working for Prince Sports is that the interest in the sport is increasing. As more and more people look to physical activities to improve their health, tennis is an affordable option. The social downside Prince Sports is facing is some of the preconceived notions regarding tennis. Some view tennis as being a challenge to learn and that is only a fad, where interest will fade and be replaced with the next newer fad. Two economic pluses for Prince Sports is the affordability when compared to other individual sports such as golf and the availability of public and club tennis courts. The economic downside is competition entering the market and recessionary spending may limit the ability to purchase more expensive tennis equipment. Technologically speaking, Prince Sports is very innovative when it comes to their equipment, the downside is that the average tennis enthusiast may not appreciate or understand the innovation and fail to make related purchases. Prince Sports, while an industry leader, faces competition from other equipment providers as well as other individual recreation sports, such as golf. The last environmental force facing Prince Sports is the regulatory impact. While Prince Sports works to protect their…show more content…
Although imperfect, marketing research will help define a marketing problem and opportunity by systematically collecting and analyzing information, develop relative findings, and help to develop the appropriate marketing actions. This marketing research can be done by implementing a five-step plan. The first step is to define the problem facing Prince Sports. Here, marketing research specific measurable objectives are identified. Next, the research plan is developed with any constraints on the research, the actual data needed, and how best to collect the required data. The third step of the research plan is to collect the relevant information or data. Prince Sports needs to collect primary and secondary data to make rational, informed marketing decisions. There are numerous ways to collect such data, two of which are panels and experiments, and data mining. Once the data has been collected, Prince Sports will be to analyze the different data and develop findings related to the data collected. Once the data has been analyzed, the results will be presented to Prince Sports leadership who are responsible for developing different marketing actions. The final step of the marketing research plan is to take the marketing actions and implement and monitor the recommendations. An
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