Opportunities Opportunity 1: United States is high in consumption for tennis products. “The Americans dominated the global tennis racket market in 2015, accounting for a share of 49.2%. The region is expected to continue leading the market during the forecast period, with an estimated 51.21% market share in 2020.” (Business Wire) “the Americas led the global tennis apparel market and accounted for almost 48% of the revenue market share during 2015.” (technavio) Opportunity 2: There is growth in online sales and communications. “The shoppers now made 51% of their purchases on the web compared with 48% in 2015 and 47% in 2014”(Wall Street Journal) Opportunity 3: Growth of tennis in youth is high. “In 2014, the number of players in the 6- to …show more content…
"While Cardio Tennis has grown to nearly 1.7 million participants in the U.S., the program has also been growing around the world and is now in more than 30 countries.” (O’Donnell, Brian) Opportunity 5: Restringing racquets is expensive and time consuming Amazon listings for re-stringing machines range from $200 USD to $800 USD. We concluded through our survey that the majority do not want to string themselves. Threats Competitive rivalry: High competitive rivalry from established companies such as Wilson and Head. Threat of new entrant is high: With little limitation on capital needs or patents any capable company can easily enter into the already crowded industry. Substitutability: Its products have many substitutes which makes it easy for customers to change preferences without much associated costs. Capital access threats: Since it is a closely held company financial information is limited and if the company is not doing well it may find it difficult to access funding from financial institutions. Overall growth of tennis participation is low: There has only been an overall growth growth of 1% since 2013 to …show more content…
As stated, “Americans dominated sales in the global tennis racket market in 2015, accounting for a share of 49.2%. The region is expected to continue leading the market during the forecast period, with an estimated 51.21% market share in 2020.” This dominance in the market make the population a perfect target to sell Pacific products. Tennis apparel market is also dominated by the Americans in sales. Pacific should target the market of the United States. The best distribution channels to connect to Americans is through online sales and product sales in retail stores. These distribution channels will help Pacific connect with Americans with more ease. Since many consumers live in the United States this strategy can potentially grow the company
Prince could also collaborate with local teaching pros to promote local junior play days and kids festivals. These particular marketing activities would create the potential for acquiring a tennis playing consumer for life at a young age and hopefully one loyal to the Prince brand. Market activities that Prince could employ to target casual/recreational players, those who play just for the fun of it, would be to utilize social media or in store message boards to match players up with other players with a similar skill level. They could also partner with local tennis facilities to arrange for special membership deals for their casual/recreational players. These types of customer service activities would provide a means for casual/recreational players to play more frequently; hopefully increasing the need for Prince’s
At the time that Althea was emerging as a recognized tennis player, African American’s opportunities were somewhat limitied. One organization called the American Tennis Association provided tounament opportunities for African American tennis players. In 1942, Althea Gibson had her first landmark
The United States Tennis Association (USTA) is the national governing body of tennis. Established in 1881, the mission of the USTA is to “promote and develop the growth of tennis.” The mission statement serves as the guiding principle for all activities of the United States Tennis Association. The USTA is the largest tennis organization in the world. It operates with the assistance of 17 section associations, serving more than 665,000 members and 7,800 organizational members.
In 1970, the male first place champion of the Italian Tennis Championship received $3,500 while the top prize for women was $600 (Guttmann 209). This gap drove King to press for equal prize money in the Pacific Southwest Championships who were planning on that year’s men’s champion to receive $12,500 while the female champion would only receive $1,500 (Guttmann 209). “I thought it was crucial for the acceptance and integrity of women’s tennis that one of us make six figures, and since I was the only one with a shot at it, I absolutely wore myself out in the chase” (King 123). In 1970, King called for a boycott to end their discriminatory treatment however the U.S. Lawn Tennis Association resisted her demand for equality (210). Undeterred, King and nine other women formed their own professional tour titled the Virginia Slims (Ware
Since the late 1980s, improving economies in Asia have translated into more disposable income and an appetite for the status symbols that accompany it. Tommy Armour Golf Co., already in every Asian market, anticipates that its strongest growth will co...
Lululemon Athletica operates in one of the largest industries in the global market today. Lululemon is considered to be a part of the textile-apparel industry. Lululemon is credited with starting the yoga apparel trend and dominated in that area for years. Since the apparel industry is highly competitive, many of its competitors began to produce similar products when the yoga craze was at its peak. Nike started its very own yoga line which showed promise and remains one of Lululemon’s greatest competitors. Other companies, like Under Armor, have started marketing campaigns that targeted Lululemon’s audience. Also new companies like, Lucy Activewear, have entered the apparel industry increasing Lululemon’s competition. The trillion dollar textile
In a study led by the University of Connecticut, 104 tennis players were put into a 12 week training program in which
Tennis is the world’s fastest growing sport today for many reasons. One of the biggest reasons is the variety of opponents one can face. In examining the game of tennis, most players can be categorized into one of four groups, the talented, the rabbits, the pushers, and the blasters. These different players make the game different each time one plays. This changes each match for the better, or for the worse.
Analysis of sports clothing industry, including its main features, key market drivers and competition within industry.
There are high entry costs to enter the market. The large industry competitors already have captured the market share.
This is a publicly traded company in the US that has been ding quite well in the recent years. The company’s 10k filing for the year 2014. From this statement, the risks facing the company will be identified classified and suggestions made on how best to mitigate them in the subsequent areas. There are various areas that the risks can arise based on the company’s 10k filling (Mertz, 1999).
The Shoe Industry consists of a multitude of footwear categories, varying in utility, style and occasion. When overseeing the market for the shoe industry, we must look at the influence of all shoe trades universally to comprehensively understand how the disparities in sales relate to the needs of specific regions. The global retail market within the shoe industry currently represents $185 billion, driven primarily by Asian and Latin American economies and is expected to reach $211.5 billion by 2018. The growth rate globally was 6% between 2004 and 2008, contrasting to the 2% compound annual growth from 2008 to 2012. The United States holds over 24% of the overall industry size it projected over $48 billion in annual revenue in 2012. Domestically, the growth rate has been flat at 0.3%. On a unit volume basis, global footwear consumption for 2012 is approximately 11,421.3 million (in pairs), where the United States makes up roughly 2,741.1 million (in pairs). By 2018 the U.S. Census Bureau has forecasted a steady decline within demand domestically of 3% and an increase of 1% globally.
Hearing the loud “thump” as the ball hits the racket is extremely satisfying, especially if your life now revolves around this fast-paced and exhilarating sport. Tennis is an outdoor game played by two individuals or pairs of players on a clay or grass court that’s divided by a low net. Each game is played with tennis rackets and small, yellow elastic balls. Tennis was first introduced in Wales and the United Kingdom in 1873 by “Major Walter Wingfield” (tennistheme.com). While most sports are easy to pick up, tennis takes extreme dedication to learn how to play the game, to perfect the amount of technique it takes, as well as its great impact on one’s personal life.
Pricing. Our product is priced lower than our competitors in our industry. Even though our competitors have a different kind of product compared to us.
Potential new entrants: With positive economic outlook, fine business environment, and increasing number of population growth rate, it is expected that there will be more companies coming in the industry;