Prince Sports Business Analysis

This new concept became essential after a meticulous work in gathering information about general consumer’s needs. Marketing team has reached out to a younger generation though different channels of social media and social network such as Facebook, be it Twitter, MySpace and then internationally, High Five and Orchid (Video Case 9) to understand what type of technological breakthrough will satisfy potential customers’ need. Prince Sports, Inc Marketing team work directly with R&D team to combine and collaborate marketing knowledge and technological ability. Together these two teams have created an evolutionary O3 technology with a 24 percent faster swing speed than traditional frames. The explanation of why their technology works better than other brands is pretty simple: “The secret is in the holes”. Like all world-changing innovations, O3 technology is based on an ingeniously simple idea. By replacing traditional pin sized string holes with massive O-ports, Prince Sports created a class of racquets that move through the air faster for increase power and greater control. (Tennis Express, Online Store, http://www.tennisexpress.com).

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.

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.

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.

(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

Sports is one of the most loved things in this world. From loyal fans to people who casual view sports, sports catch the attention of more people than nearly every other kind of occasion. Marketers have become aware that of the popularity of sports and has made them the focus of marketing promotions for some time now. Sports marketers cannot take for granted the importance of understanding and successfully pursuing an audience. Sports marketing is a very popular industry because there will always be sports, and what comes with sports are loyal fans. Those loyal fans need to be aware of what their favorite team schedule, purchase tickets to an event, and also buy paraphernalia of their favorite team.

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).

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.

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

An organizational problem must be identified prior to beginning the market research process. In most cases, a problem is a research opportunity for product improvement or the launch of a new product. The first critical step of the marketing process involves how the research problem is defined by specifying the research objectives; identifying the consumer population of interest, and placing the problem in an environmental context. The very next step is to determine the research design that involves whether or not primary or secondary data is available or required. Marketers must collect the information and determine the type of study required before they can move on .

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.

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]

Marketing research is the systematic design, collection, analysis and reporting of data and findings relevant to a specific marketing situation facing the company.” [Philip Kotler]