marketing paper final

marketing paper final - Matt Snyder, Mike Lepri, Tim...

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Matt Snyder, Mike Lepri, Tim Hanrahan October 22, 2008 Principle of Marketing Professor Potter Titleist and the Golfing Industry The sport of golf has been played since the 15 th century. Over the years, it has gained extreme popularity, and is now one of the leading industries. The golfing industry is categorized under the NAIC code of 339920. This group consists of Sporting and Athletic Goods Manufacturing. This NAIC code has 2,562 companies within it. The four companies that will be discussed in this paper are Titleist, Nike, Callaway, and TaylorMade. All are competitive leaders in the golfing industry in at least one of the products that they market to consumers. Like any company, the marketing these companies do is of the utmost importance. With a successful marketing strategy, these companies are able to sell and create products that their consumers are willing to buy. This paper will explain the golfing industry, and the in-depth marketing that must be done for these companies to maintain a competitive advantage in the market. History of Golfing Industry The game of golf was invented in Scotland during the 15th century. In those days golfers would hit a pebble, instead of a ball, around in the sand with a stick. It was not until 1750 that the game of golf was transformed. There was a need for sticks and pebbles to be replaced by clubs and balls. When the game first began, golfers played with a leather covered ball stuffed with feathers. The balls were expensive because they were so difficult to make. One of the changes the golf balls went through including the use of “gutta” or milky juice from a tree found in Malaysia. The modern ball used today is very technologically advanced and researched. The use of plastics, silicone and rubber all add
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to the durability and accuracy of the balls that are still being perfected today. (About1, 2008) Acushnet, which is currently comprised of Titleist, Cobra, and Footjoy, was formed as a rubber processing business. The main catalyst for starting the production of golf balls was the growing popularity of golf in the early 1900’s. The ball used during this time had many imperfections. In 1930 rubber golf balls were shown to be the future but had not yet been perfected. Phillip E. “Skipper” Young was the founder of Acushnet and he “patented a machine that could wind rubber string around a rubber core in a uniform manner which led to the development of a ‘dead center’ golf ball that he named Titleist” (Funding Universe, 2003). This dead center ball became popular and was used to name the golf sector of Acushnet. From about 1945-1965, Acushnet's golf division grew with the popularity of the sport. The number of golf courses in the world doubled, from 4,000 to 8,700. The number of people who played 15 or more rounds of golf each year increased from 2.5 million to 8.5 million. The amount of money spent on golf equipment increased from around $60 million to $150 million. The amount of money spent on golf balls, in particular, increased
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marketing paper final - Matt Snyder, Mike Lepri, Tim...

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