Golfing Apparel Market Analysis Report
Your manager has just given you the first assignment in your new job, which is to develop a 1,500-2,000 word research report of a product (a product can be a good or service) of your choice in accepted business style, including an executive summary. The assignment focus is to research the market for a product to determine whether it is a product your company would like to sell. The report will serve to brief your manager on critical marketing factors relating to the product. After conducting your research, you will make your professional recommendation, in both report and presentation format, as to whether the company sales team should sell this product or service.
For this assignment, begin working on the rough draft of your Marketing Analysis Research Report.
Create your rough draft including all of the following:
Executive Summary
Marketing Mix
Environmental Scan
Marketing Segmentation
Ethical Issue
Social Responsibility Issue
Global Marketing and the Internet
Recommendation
Here are some approved websites for citations:
https://www(dot)businesswire(dot)com/news/home/20210218005585/en/United-States-Golf-Apparel-Footwear-and-Accessories-Market-2021---ResearchAndMarkets.com
https://www(dot)marketwatch(dot)com/press-release/global-golf-apparel-market-2020-key-players-share-trends-sales-segmentation-and-forecast-to-2025-2021-02-10?tesla=y
https://www(dot)statistifymarketresearch(dot)com/global-golf-apparel-market-analysis-fore
Golfing Apparel Market Analysis
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Executive Summary
The golf apparel, accessories, and footwear market in the United States are projected to rise by $ 1.12 billion by 2025. Such a rise is caused by the number of new products released and an increase in female participants in golf games. The marketing mix, marketing segmentation, environmental scan, social responsibility issue, ethical issues, global marketing, and the internet are some of the growth drivers, opportunities, and constraints discussed in the report. To better understand the golf apparel sector's current business situation and trends in the golf apparel industry, the marketing mix is precisely examined. Consequently, the report includes a detailed and trustworthy recommendation of the golf apparel industry.
Golf Apparel's Marketing Mix
Among the most researched niches in the sports and footwear business is golfing apparel is the marketing mix concept. Golf apparel companies compete intensely between themselves. The best way to beat the market is to target young people and men who love sports. The marketing mix of golfing apparel will be the focus of this section of the market research report.
Products in the golf apparel Marketing Mix
The majority of golfing apparel companies concentrate on sports shoes, and clothing, while others specialize in golfing equipment and other products. Dresses, T-shirts, shirts, sweatshirts, and other apparel constitute the growing market in golfing apparel. However, these items are not based on a consumer's need. Customers, in truth, buy shoes to satisfy their desires and needs. Clothing in golfing activity is built for comfort during physical activity. Although golfing is the primary priority, clothing is often used as a fashion choice by young people.
The price in the golf apparel marketing mix
Most golfing clothing brands use skimming rates and aggressive pricing due to design, style, and promotion. Others use aggressive pricing to compete with run-of-the-mill goods. However, some firms, such as Adidas, use skimming rates on freshly published products. Further, Adidas clothing is continually skimming prices and is priced higher due to its brand image and awareness in the fashion industry.
The upper-middle-class and high-end clients are the key targets of the golfing apparel firms. Some firms rarely use Penetrative pricing, such as Adidas, because it would damage its brand value. The higher price point leads to a product quality policy, and consumers subconsciously assume that higher prices mean higher quality. As a result, an organization can never cut costs.
Place in the Marketing Mix of golfing apparel
The majority of golf fashion brands market their products through retail outlets. They have their exclusive stores where the content comes directly from the manufacturer. Consequently, the products for well-established golfing apparel companies are obtained from the distributor. The products are sold via the internet via a retail outlet and an official portal.
Promotions in the marketing mix of golf apparel
Companies that sell golf apparel use various marketing platforms, but most of their efforts are centered on advertisements. A company can instill enthusiasm in its customers through enthusiastic and well-crafted ads. Such commercials entice customers to visit the business by providing the required marketing message. Furthermore, the companies should fund various major sports teams, including the United Kingdom (soccer), Real Madrid, England, France, and South Africa (cricket). Several very creative outdoor campaigns, as well as marketing events, should be introduced. To promote the sale of the brand, dealer partners often offer trade offers and sales discounts.
Environmental Scan
Before developing a strategic plan, the company must first understand the world in which it operates. According to this principle, the riskier the climate, the more competitors there will be. Since managers must perceive and detect difficult areas and identify opportunities, the conditions to which they trigger challenges and generate opportunities in organizations. One way to avoid being caught off guard by environmental changes is to use ecological scanning. This critical organizational management process allows managers to spot changes in the environment and competitors' strategies. This scanning is ess...