TW – Exec Summary The following report examines how Tiger Woods’ functional and reputational core competencies have affected his professional life, specifically relating to his financial status as a marketing tool for golf companies. Prior to his 2009 scandal, Tiger Woods was ranked #1 in the world, one of the highest grossing athletes, and one of the leaders earning multiple lucrative endorsement deals. He made millions leverage his two major core competencies: functional (professional athleticism-based) and reputational (image-based). Functionally Tiger was one of the greatest golfers in the history of golf as a sport. Reputational-wise, Tiger was perceived as a positive role model demonstrating strong and confident manhood and …show more content…
Collaborators need to focus on directly supporting Tiger and his golf game, ensuring he is performing at his optimal level to result in the increased likelihood of wining more tournaments. Companies who have hired Tiger as the face of their product brands need to create a direct correlation between the intangible benefits of Tiger’s brand – credibility, customer loyalty, and dependability. Customers and the greater demographic of general golf fans will continue to recognize value and reputational quality in Tiger’s endorsements through his personal value proposition to his customers. On the more functional-side, winning is still the primary indicator of how well Tiger is accepted back into society as a whole. One strategy is for Tiger to win for major golf championships: the Masters Tournament, U.S. Open, The Open, and the PGA Championship. Tiger still has his unique name and style also to his advantage. He is amongst many equally talented golf professionals, but few are as well-known as Tiger. The Tiger Woods brand is able to bring value to all stakeholders involved, increasing his added value from both the reputational and function stand point regarding his endorsement companies and team collaborators. Stakeholders and Woods assist each other by reciprocating the benefits of having Tiger as a strong athlete and celebrity, as well as name
One man who has greatly influenced society and the game of golf, is superstar Tiger Woods. When he joined the PGA tour people jumped on the golf bandwagon in increasing numbers. Golf has began more popular to the American people. People from all over the country have gained interest in the game of golf. Stossel states that the number of golfers went up by seven percent in 1997 alone (2). Golf has become a high source for weekend entertainment for Americans. More than six million Americans enjoy watching golf on weekends (Stossel 2). Not only are people watching the sport, they are reading magazines like Golf, Golf World, Golf Digest and Links. Also for entertainment there have been movies such as Tin Cup and Happy Gilmore (Stossel 2).
According the author, because of Tiger's one mistake, he lost everything from his endorsements, family, friends and fans. He had spent more than decade perfecting his reputation and just like that it was gone (Ferguson). Tiger Woods's mistakes stand as a reminder that no matter how much temptation there is, one should always think twice before doing something they may regret later on.
Companies currently operating within the golf industry, specifically Calloway Golf, must change their current marketing approaches and strategies to withstand the recession and threats facing the industry. Although Calloway has a strong R&D department that tends to remain competitive with products and technology, there have been little results in reference to scores. It is imperative that if companies are going to market a product that will help golfers drive further and straighter that the results depict this so that not to damage the brand name of a product. Secondly, due to the decline in equipment sales and the number of golfers, prices are dropping and companies are outsourcing to maintain the volume needed to remain competitive. Companies must be cautious and aware so that counterfeiting may be reduced. This reduction would also allow companies to reduce their pricing and have more sales without the competition of these cheaply priced knock-offs. In the instance of
Imagine the sun bursting through the trees for the first time of the new day, the smell of freshly cut grass still potent to your nose as you tee the ball up for a round of golf in the cool mist of a spring morning. "That is what brings you back every time, the smell of the air, the coolness of the whether and the beautiful surroundings that make every shot enjoyable." (Suess, PI) This is the game of golf in its finest and most exquisite time to many people and many people it has touched in its long history. Golf is a lifestyle and not just games to people that are avid in playing. The game of golf has a history that is rich in technological advances and personal accomplishments, which through time has shown to shape
The athlete can be trusted – We have numerous examples of athletes that have embarrassed the companies that they endorse. The largest and most recent is Tiger, but even mom-and-pop stores need to do their due diligence before they sign an endorser. Nike could sit back and weather the storm, but smaller companies might not be able to. (Miller)
In thirteen years of golf, Tiger Woods has made over a billion dollars making him the highest paid athlete ever. He has been the highest paid athlete now for five years in a row. We all know that many people in the world watch him play every weekend and admire him, but is the amount of entertainment he provides really worth 128 million dollars a year? Tiger is only one of many professional athletes who are extremely overpaid. “People forget that sports is entertainment,” says Leonard Armato, a sports agent. Although professional athletes provide entertainment for millions of viewers around the world, they are overpaid because the millions of dollars that they make could be distributed more evenly throughout society and go to things of a
He is arguably the one individual in our lifetime that transformed his sport. With his presence, the sport of golf became popular and was no longer a ratings buster on television, and became a sport more young kids wanted to get involved in.
It is known to be true that the best endorsements achieve a deriving ideas, style and taste between the product and the celebrity. Giving a brand an appearance is more than just a marketing strategy to increase sales; it is a decision that can change the outcome of the brand for the
It establishes logos by showing that serious golfers can turn into PGA Tour players with these irons… not exactly, but it can be done. According to Psychologist Jib Fowles, author of “Advertising’s Fifteen Basic Appeals,” this advertisement demonstrates the need to achieve, dominate, and attract attention (421-423). The need to achieve relates directly to the headline of the ad, “Improvements You Can Feel. Advanced Performance” (16-17). In the ad, Titleist wants people to feel dominant with these irons and destroy the golf course because of all the improved technology packed into such a small club head. Everyone wants to feel the need for attention and Titleist does just this. Possessing these irons means that golfers want the biggest and best clubs out on the market with the latest design.
New golfers increased from 1.5 million to 3 million between 1988 and 1998, but most of them quit due to increased cost of playing which went up by nearly 50%, unavailability of courses and time involved in playing. The global premium equipment market declined post 1998 due to various reasons like decreased demand, Asian economic turmoil and saturation of product in the market place. To CGC’s benefit the competition on golf equipment
These quotes make it clear of Tiger Woods’ impact on the game of golf and the
With the professional endorsement by these golfers, the target market was able to see the product in action and also learn how to properly use them. With practice, these average
Simply by being famous your life becomes restricted, you cannot behave like “normal people” because you are always being looked at or judged or written about. For tiger this was the case ever since he could remember because at the age of two he was on TV because of his unique golfing talents. Being in his position means a normal personal family problem turns into media fodder.
Some of Gillette spokespeople such as tiger woods have run into controversy after becoming endorsers for the brand. Does this hurt Gillette’s brand equity or marketing message? Explain.
The case of Flying Tiger in Japan initially caught our attention due to the big success immediately after market entry. Later on in the process we learned that there are many challenging aspects of operating the Flying Tiger business in Japan. The massive news media coverage and public attention in the early stage after the entry, served as a head start for the company. However it is not possible to sustain that level of attention, so it is necessary for Flying Tiger to figure out how to build a long-term competitive position in the Japanese market. We found that Flying Tiger needs to constantly reinvent and build the brand image, as the branding and the ‘story’ of the brand is extremely important in Japan. It is crucial for Flying Tiger to hold on to their uniqueness.