Case Study Grip Golf Glove

Characteristics of the target market for the 3M Greptile Grip Golf Glove The target market for Grip Golf Glove market is highly influenced by demographic characteristics. One of the characteristics of its market is the increased population size that is interested in golf. This increase has been linked with the high number of children that were born between 1946 and 1964. The increased number of childbirths at that time is the result of the current mature people who understand golf.Advertising We will write a custom essay sample on Case Study: Grip Golf Glove specifically for you for only $16.05 $11/page Learn More Most of the people within this age are now at their peak earning point in life. They have money to spend for leisure. In fact, researches show that most of the employees in their 50s spend most of their money set aside for leisure in golf and golf equipments. O’Hara (2011, p. 11) affirms that expectations of the market are also dynamic s ince there are many people to consider when making changes in a brand before releasing it to the market. It is also worth noting that the population is in employment. Hence, it has an increased purchasing power. The second characteristic of the golf market is that it consists of people from all parts of the United States. Lim and Patterson (2008, p.115) argue that, although golf was a preserve for those who lived in the eastern and northern parts of the nation, it has now spread to the west and south. The employed and the retired population therefore shifted to the west and south in order to enjoy a good leisure time throughout the year. The market for golf and golf equipment has consequently shifted to the south and west. Lim and Patterson (2008, p. 115) affirm that the demand for golf and golf equipments including gloves, shoes, balls, bags, and other items has therefore become high in the west and south. Investors in golf and golf equipments should therefore shift their attention to these places. The other characteristic of the golf market in the United States is that it has been on the decline. The declining trend in golf courses has been attributed to the economic recession that hit the United States and other nations since 2007. The recession has significantly reduced the spendable income on the side of the government and the citizenry.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Prices of items have also shifted and the interest rate in banks has hiked. This makes it difficult for citizens to borrow money some of which is spent in golf as leisure. This situation has affected the golf market. For instance Won, Sunhwan, and Kleiber (2009, p. 5) argue that, by 2008, the number of golf courses reduced to 16,000. It is therefore worth noting that the purchasing power for golf equipment has reduced with the increase in the number of golf courses because of the ec onomic recession. Reduction in purchasing power will translate to low demand for golf equipments. However, golf has become a popular source of leisure for all. Unlike in the latter years when golf was a game for senior citizens and the old, it is currently a game for all ages. The Key Points of Difference of the 3M Greptile Grip Golf Glove when compared to Competitors’ Products such as FootJoy and Bionic. There are various points of difference in the products of Greptile Grip Golf Glove in comparison with products from its competitors such as FootJoy and Bionic. The major difference between 3M and others is that it focuses on key areas such as durability of the item, technological adaptability, price, value, and comfort. These factors are put in place in complete consideration of the need for enhanced gripping. The company has gone a step further to adopt these factors in the development of the premium Greptile Grip Golf Glove. The company rated this product as of the highest quality since it was made of Cabretta leather. This product was also launched in Europe and Japan. The price of the Greptile Grip Golf Glove was $16.95 on the lower side and $19.95 on the upper side. On the other side, its competitors have also launched their products. For example, Bionic launched two gloves: the Classic and the Pro. These products were priced at $24.95 and 39.95 respectively. In comparison with 3M, the price of the glove in Bionic was high. Hence, the customers would still prefer the products from 3M. An orthopaedic hand surgeon created the Classic and the pro glove. The aim of involving a specialist was to exaggerate the professional appeal on the minds of golfers and other customers. However, this strategy could not have overcome the initiative of linking technology, comfort, durability, value, and price by 3M. On the other hand, another company, FootJoy comes up with a competing glove: Pure Touch Limited, which is also regarded as â€Å"tailor cut†.Adver tising We will write a custom essay sample on Case Study: Grip Golf Glove specifically for you for only $16.05 $11/page Learn More The glove was priced at $28 and $18 for precision fit and Sci-Flex designs correspondingly. These prices were still beyond the price that had been set in the Market by 3M. Fullerton and Merz (2008, p. 90) posit that price is an integral component in sports marketing. In fact, price is a powerful tool that determines the ability of the customer to buy an item with a certain value. Englis and Solomon (1995, p. 13) are for the opinion that comfort and durability of the product come after the customer has gained the ability to purchase the product, which is highly dictated by price value. An item may be of good quality and comfort, but the customer may not acquire it due to his or her income. In comparison with substitute products, 3M’s golf products have also been affected by the economic recession. As other substitute p roducts make changes in price, 3M has also made alterations on its pricing and value. The attention in marketing golf products has now shifted and narrowed down to the price factor. Fullerton and Merz (2008, p. 90) argue that the financial slump mentioned above has resulted in drastic measures to control prices and to retain customers in sports and sports product. 3M has had to control its prices due to the low prices offered by retailers of the substitute products that customers prefer. For example, FootJoy, Calloway, and Titleist even offer single gloves at reduced prices. How the Greptile Grip Golf Glove meets 3M’s Three Criteria for New Products Every innovation in 3M must meet the three new products’ criteria, which include offering a superior value to the consumer, being a trademarked and patentable technology, and altering competition basis through the creation of differences. The product of 3M meets these requirements through various ways. To begin with, there is a lab for testing the viability of the product and its impact on consumers. This strategy ensures that the company will only release products that it has confidence in based on their quality. Secondly, the company tests any complaints from the market in its lab to verify the claims and hence adjust them accordingly. Thirdly, the company is also able to meet the criteria through changing of price, enhancing the benefits of products to consumers, and through advertising. Englis and Solomon (1995, p.13) reveal that the idea of scrutinising of a product is important to ensure quality and comfort of the customer. 3M evenly scrutinises every product or strategy for originality before it is adopted.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More 3M’s Special Promotion and Distribution Problems 3M is likely to face various problems in the market due to its lack of previous foundation in the market. Such problems are likely to be in distribution and special promotion. The first challenge is to establish a customer base. Initiating a customer base from a market with other established marketers is challenging. 3M will therefore be required to do rigorous sales promotion, which must be preceded by advertising. It is challenging to advertise due to the high cost. However, advertising is a basic step for every business. Personal selling will also enhance reliability and dependability of the product in the market. Customers do not buy products that they do not know. The other problem is realising the areas where the products are highly required. Distribution of products involves establishing depots and retailers. In some instances, it involves the use of sales persons to distribute them to customers. It is therefore importan t for the distributor to know the trends in the market and the dynamics of distribution. For instance, during some periods of the year, the demand of the products goes down in some areas as it rises in others due to adverse weather conditions. 3M will therefore face the challenge of establishing proper, clear, and effective distribution lines in the United States and other parts of the world. The greatest challenge will be venturing into areas where other competitors have already established their markets. According to O’Hara (2011, p. 10), it is challenging to develop a large market share from an already established market by the competitor. 3M’s Pricing Strategy Choice among Demand –oriented, Cost-oriented, Profit-oriented, or Competition-oriented Pricing Strategy for its Greptile Grip Golf Glove Since 3M is a new market entrant there is a great need to establish a good customer base for itself before even thinking of making huge profits. 3M should develop its prices following the competition-oriented pricing strategy following various reasons such as the increase in the number of companies that are targeting the same market that 3M aims to appeal. This case would therefore mean that the market that 3M will appeal most to consumers is likely to have an advantage over others. 3M should therefore begin by evaluating the level of competition that is posed by its competitors before making a decision to alter its prices, quality of products, packaging, and other factors that appeal to customers. It is worth researching on the strongholds of every competitor and strategies that the competitors use in such areas. O’Hara (2011, p. 11) affirm that research will enable 3M to come up with a better and more appealing brand that will enable it gain a larger market share from such areas. When a company is developing, it has to major on creating a customer base that it can sustain. Since other companies in the competition are able to retain such customers, 3M should evaluate the viability of better methods and their ability to sustain customers. The other reason why 3M should adopt competition-oriented pricing is the increase in the number of retail outlets that sell similar and substitute products at low prices. The price of the products is likely to be inhibitive to customers. Although 3M may have high-quality products, it may supply the product in areas where demand is high, or manufacture products that just meet its production cost to make huge profits. Customers may be prohibited from buying such products by the price. According to Englis and Solomon (1995, p. 13), customers do price comparison before purchasing them. If the prices of Greptile Grip Golf Glove are high at 3M, customers will shift their attention to the other providers or purchase the same products from the retail outlets. The process of considering the best price point should involve evaluation of various functions. 3M should consider prices that the c ompetitors have placed in the market. As a new entrant to the market, 3M has to compete favourably with other players in the market. The price for the Greptile Grip Golf Glove should not be prohibitive to the market. In fact, it should be below that of its competitors since it is new. The impact of the global recession should also be considered in pricing to make customers believe that the company and the product have come to their aid in the right time. The price should also be able to meet the technological threshold of the current times. It should be modern and adoptable to modern technology. However, Won, Sunhwan, and Kleiber (2009, p. 12) argue that pricing should not lead to reduction in the quality of golf products. The product quality should be used as a unique identifier of 3M. In fact, the price should remain at the current range of $16.95 to $19.95 since other competitors are also within the range and that consumers will be comfortable to purchase. Reference List Englis, G., Solomon, R. (1995). To Be and Not to Be: Lifestyle Imagery, Reference Groups, and The Clustering of America. Journal of Advertising, 24(1), 13-28. Fullerton, S., Merz, R. (2008). The Four Domains of Sports Marketing: A Conceptual Framework. Sport Marketing Quarterly, 17(2), 90-108. Lim, C., Patterson, I. (2008). Sport Tourism on the Islands: The Impact of an International Mega Golf Event. Journal of Sport Tourism, 13(2), 115-133. O’Hara, K. (2011). Building a Brand. Smart Business Atlanta, 9(1), 10-14. Won, D., Sunhwan, H., Kleiber, D. (2009). How Do Golfers Choose a Course? A Conjoint Analysis of Influencing Factors. Journal of Park Recreation Administration, 27(2), 1-16. This essay on Case Study: Grip Golf Glove was written and submitted by user Alberto Sloan to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Citizenship Coursework A Essay Example

Citizenship Coursework A Essay Example Citizenship Coursework A Essay Citizenship Coursework A Essay I volunteered at a local old peoples day centre. I wanted to go there because I felt elderly people had a lot of interesting conversation and I could learn from the experience. My main aim was to learn something from people that were older than me, and teach them something about people my age. The Centre is called The David Bryce Centre, and it is specially designed to keep the elderly occupied, and socialising. The people there can come one to five days a week. They get a meal and tea at good prices, so it means they do not have to try and cook a meal for themselves, if they are unable. There is a bus that picks them up from their house and takes them there. This is specially equipped to deal with elderly and disabled people. I think this bus makes a big difference to them because it means they do not have to worry about travelling and getting around, and do not have to rely on family. The whole centre means they are not stuck alone in their houses, but can make friends, and enjoy t hemselves. Their aim is to promote the well-being of older people and help to make later life a more fulfilling and enjoyable experience. When I first offered to go there I agreed to help out with giving out tea and lunch, helping with the quizzes and activities, and generally talking to the people and keeping them occupied. I also had to make sure that none of the old people escaped when they werent supposed to. Knowing that I was there to check for anyone walking out the door helped the lead volunteer to concentrate on more important things. I think I made a big impact on the people there as not many younger people had worked there before, and it made a great change of conversation. I started in the morning by making the lunches with the cook. I think the cook appreciated this because it meant the cook had more hands to help her, so she did not have to rush as much, and therefore could make the lunches to a higher standard. I think the old people really enjoyed their lunch and were grateful for my helping out as I helped to hand out their lunches quickly, and poured drinks for them. A lot of the time they would start to get up to get their lunches, but with me there it meant they didnt have to try and get up, which I think they appreciated as some of them can be in a lot of pain. After lunch I planned a quiz with them. The quiz had different pictures of celebrity duos and they had to remember who the celebrities were. They passed round the sheets and had to write them down. At the end the person who won the quiz got a box of chocolates. I think it helped keep the old peoples memories active. They taught me a lot about the older celebrity pairs, and politicians, and I taught them a lot about the newer ones such as Ant and Dec! I think my quiz was a success because they all joined in, and all did very well in it, and seemed to enjoy it. I encouraged other people to join in the quiz, as I went round and talked to them and gave them clues. I think my planning of this activity was very good, as I took the time to stick pictures of the celebrities on sheets of paper to be passed around, and had them numbered. I then called out the answers and got them to swap their answers and mark each others. I had to collect in money for various trips and the old peoples tea, and then had to give out the tea and biscuits. I felt grateful that everyone trusted me with the money, and it was another small task that I could take off the volunteers hands. I think overall I made a great impact on the people there while I was there. I think I was a fresh face, and just talking to people alone taught me a lot about the older generation, and I think I changed the stereotype they had of young people.

Performance Management and Human Resource Development Research Paper

Performance Management and Human Resource Development - Research Paper Example This paper tells that performance management served to be the answer because this system is specifically designed to drive profitable growth. Nevertheless, organizations encounter the problem that their daily activities are not associated with their strategy, initiatives, resources and risks; that is why they developed the strategy-related process known as performance appraisal. The main thrust of this paper is to explain what is meant by the term performance management and show the importance of performance appraisal scheme. Performance Management (PM) Performance management (PM) has no exact definition for it is emotive, â€Å"meaning different things to different people and dependent on which level in the organization they occupy† (Cattell, 2005, p.157). Likewise, several research studies with regard to the handling of employees are not consistent with their performance indicators because of diversity in individual needs and workplace expectations that differ from country t o country. This process is a systematic approach that is interested in motivating employees’ performance and productivity, monitoring, and assessment of performance through performance appraisal system. PM has two management fields that is focused on the progress and success toward goal achievement, and these are individual behaviour toward the organization and organizational strategies. The first aspect is all about organization as a whole, its performance and the performance of the top executives (managers and heads). The second aspect is the performance of individual system; they are the individual employees that worked for the achievement of organizational goals and objectives. These two aspects are distinct from each other in terms of the covered scope and resources. PM on employee’s level is really necessary to the company and this process would be effective if planning work and setting goals are consistent all throughout the execution. Through these, appraisal w ould be much clearer to the employees particularly on what aspects they will be evaluated, and the consequences behind the good and bad performance. Because of these consequences, coaching/feedback is given to the employees right after their evaluation. This is what Hackman and Oldham (2002, p.123) inculcated in their job design theory which â€Å"contends that a person’s intrinsic motivation is affected by his or her psychological state...† The only way to correct de-motivated behaviours of employees is to reward them intrinsically by giving them positive or negative feedback. However, there are instances that performance management is hard both to the managers and to the employees of the organization. Managers in their part, they tend to avoid PM process because they are afraid that their connection with their employees will be put to risk once they give feedback. Also, on the part of the employees, they felt embarrassed with the negative connotations from their mana gers especially if their performance did not meet with the expectation, and so their pay or advancement will be jeopardized (Chladek, 2006).