Friday, March 1, 2019
Competition in the Golf Equipment Industry
1. debate the trends in the golf game game equipment labor and how it may impact a bon tons st pasturegy. autonomic nervous system According to new the United States golf railroad tie (USGA), Golf equipment manufacturing affairs ar forced to launch the equipment within the limitation. Therefore, the product specialty is non quite high while recreational golfers do not enjoy playing delinquent to lack of innovational equipment. Also, the USGA states that there be various factors that result in the declining of golfers such as Game difficultness Golf equipment manufacturers are forced to follow the new USGA rules, thus, recreational golfers are suffered from the limitation of golf equipments. They cannot enjoy playing golf as more than as before while new golfers face the difficulty of playing. term consuming for work According to the limited innovation of golf equipment, golfers ingest lots of time to practice while they also have allow in responsibility to their job and spend time with their families. High golf wages Some golfers realize that golf fee is high, as a result, theycannot practice frequently. . Discuss the importance of innovation, brand, performance, and price in the golf equipment industry. Ans proper reputation and image can lead to brand loyalty. Thats why many brands use lots of advertising expenditure to promote their brands. As the leading sports brand in the world, Nike has a clear marketing favour over its competitors. Nike spends some of their annual revenues on advertising to build punishing brands by using celebrity endorsements aim to grow the market divide in the golf segment. Golf product brand equity depends on the performance of its endorsed players.The performances of the professional golfers sponsored by each brand strongly relates to sales. first appearance in the golf industry is an important part of equipment adoption. Because of the fleeting heart span of golf clubs, adoption of new drivers and putter s is critical to any golf equipment manufacturers strategy. Performance in golf equipment is closely even to PGA professionals and well known amateurs who use certain clubs and brands to help promote the nurse of the equipment. Counterfeit golf equipment has continued to impact pricing of golf equipment by being sold worldwide which s a threat to the golf industry because the counterfeits can be sold some(prenominal) less than the originals. Callaways strength has been its line of Big Bertha drivers and the acquisition of the Top-Flite Golf company which allowed Callaway to manufacturer popular golf addict equipment. The flunk has been the golf club business which has lost m whizzy according to third guide billing. The financial report shows a 28% of net sales in the third quarter of 2010 as compared to 31% of net sales in 2009 third quarter.Taylor dos strength has been its improvement to the drivers namely the r5 and r7 series which supplanted Callaways Big Bertha as the d river of choice for many golfers. The weakness of TaylorMade Golf has been in putters, durance and golf balls. Never really gaining in these fields over Callaway, much of this business was sold or minimized. Titleists strength is its golf ball market share. Its weakness has been its golf club line which has been targeted to elite golfers, though not adopted widely by many golfers. Ping Golfs strength has been in the iron segment in 2008.Its weakness has been poor wedge sales(Strickland III, Thompson, & Gamble, 2010, pp. C-95 C-96). Nikes strength is the marketability of its primary endorsement, tiger Woods, along with its popular golf ball line. Its weakness has been a graphic symbol issue with product that was sold at less than suggested retail due to this issue. 3. Identify the strengths and weakness of Callaway, TaylorMade, Titleist, Ping, and Nike. Determine which company has a private-enterprise(a) benefit in the marketplace and state why you believe this to be true.Ans Ov erall the best golf company in my opinion is definetly, Titleist. Also, below, I listed the best product for each category of golf equipment. Driver Taylor Made super quad Irons Titleist AP2 (leading irons on tour) Woods 906F4s crossbreeding adams hybrids (leading hybrid on tour) Wedges Titleist Vokey spin milled or 200 series (leading wedge on tour) Putter anyTitleist Scotty Cameronthat fits you (leading putter on tour) BallsTitleist pro V1or Pro V1x (leading ball on tour and my personal favorites) knockout Ping (they have outstanding long lasting quality bags manus Titleist Yardage device Bushnell Shoes Footjoy (particularly Dry Joys) Grips Lampkins or Golf Pride ( especially the dual densitylamkin grips) 4. Based on the company selected in the precedent discussion, recommend how the company can ensure that its militant advantage is free burning. a. beefed-up research and Innovation The technology industry is one of the leading industries with admiration tostrong research a nd innovation.And when it comes to setting the pace using innovation as supplementApple and Sonyare the two companies that have held their leadership attitude using innovation as a competitive advantage. b. Brand Popularity organism recognized all over the world as a view brand is asustained competitive advantage that companies such as Virgin, Apple and Coca colahave apply as leverage to hold the market sway for years. Virgin is a company that has used its brand name as leverage to break into new marketsin completely new territories. . Corporate reputation Corporate reputation isa form of sustained competitive advantagethat companies such as monetary value Waterhouse and Berkshire Hathaway have leveraged to become world class entities. d. Strategic assets Holding strategical assets such aspatents is a strong address of sustained competitive advantageand General Electric has stood the test of time because of the several patents held. brainpower you that possession of these str ategic assets has madeGeneral Electric one of the well-nigh powerful companies in the world. e.High flock production Dangote Group of companies became one of the leading conglomerates in Africa because of its ability to produce goods on high volume and ensure a uniform price throughoutNigeria. f. Access to operative Capital Generally, public liability companies (quoted companies) have asustained competitive advantage over private companies because of their infinite capacity to raise expectant from the public. Take a look athow Oracle acquired 57 companies in a space of five yearsand Reliance Industries investing a billion dollars in a single swoop to open a chain of retail stores. . Superior Product or customer live IKEA has become a market leader in the furniture industry because of its ability to provide superior product at an affordable rate backed by a strong customer support system. h. flexibility The ability to change swiftly is astrength and source of sustained competit ive advantage that Microsoftleveraged upon to become the largest software company in the world. i. mortified pricing Wal-Mart as at the time of this writing is the most capitalized company in the world. Thanks to its low pricing strategy that became its strong source of competitive advantage.