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hermarkup on marketing project

hermarkup on marketing project - Matt Snyder Mike Lepri Tim...

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Matt Snyder, Mike Lepri, Tim Hanrahan October 22, 2008 Principle of Marketing Professor Potter 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 world’s leading industries in the world today . 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 attached to it . The four companies that will be discussed in this paper are Titleist, Nike, Callaway, and TaylorMade. All are leaders in the golfing industry in one of the products that they market to consumers. Like any company, the marketing they do is the most important. With a successful marketing strategy, these companies will be able to sell and create products that their consumers will be 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 markey. 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. The golf ball went through many different stages before it was finally perfected. Golf was first played with a leather covered ball stuffed with feathers. The balls were expensive because they were so difficult to make. Golf balls went through many changes including the use of “gutta” or milky juice from a tree found in Malaysia. The modern ball used today is very technologically advanced and
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researched. The use of plastics, silicone and rubber all add to the durability and accuracy of the balls used today. (About1, 2008) Start of the Golf Ball Industry Achusnet, which is comprised of a few brands including Titleist, 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. 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.” This dead center ball became popular and was used to name the golf section of Acushnet. Growth Patterns 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 from $20 million to $50 million. (Funding Universe, 2008) on average how much does one person spend?/
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