1. In the 21st century, trends in the environmental forces that work for and work against the success for Prince Sports and the tennis industry are examples such as: • Social forces of the environment include demographic characteristics and the culture of the population (Pg. 62). a. The social force works for Prince due to the fact of the increased interest and popularity of tennis. People are attending and watching professional tennis matches and this is leading to more playing the sport. b. If interest goes down then this can and will work against the success for Prince Sports in their sales and marketing schemes. Their marketing schemes would need to be adjusted in order to pique people's interest. • Economic forces pertain to the income, expenditures, and resources that affect the cost of running a business and household (Pg. 63). - Macroeconomic conditions is a particular concern since this is an indicator of the performance of the economy such as gross domestic product, unemployment, and price changes (Pg. 63). - Microeconomic trends is another focal point concerning consumer income since a consumer's ability to buy is related to income, which consists of gross, disposable, and discretionary components (Pg. 63). a. If economy conditions are good along with consumer income then this is force works quite well for Prince in selling and marketing their product. Especially some of their higher priced range tennis racquets. b. On the other hand, if neither of these is up then sales are down and Prince needs to somehow make their racquets more affordable or properly market their lower priced racquets to encourage consumer purchase. • Technological forces refer to inventions or innovations from applied science or engineering research (Pg. 65). a. Focusing on technological forces this works for Prince’s website in marketing their racquets as well as supplying detailed specs on their products which allows consumers to do research and making a decision on the perfect racquet. Along with this is a web article on tennis players that may have a picture of the player using Prince Products during a match. b. This also works against Prince because their other businesses that market their products over the web as well such as Wilson, Head, Asics and multiple other brands. These other brands lead into the competitive force. • Competitive forces refer to the alternative firms that could provide a product to satisfy a specific market's needs (Pg. 65). a. Prince is a company with a large portfolio and has developed consumerism loyalty over the years which have aided them in the purchase of their products and competing among other companies. b. Unfortunately there are about fourteen other tennis racquet company producers, Wilson and Head being one of the popular ones next to Prince. With such a large array of competition this at times works against Prince and the need to market towards consumers loyal to other brands. • Regulatory forces consist of restrictions state and federal law place on business with regard to the conduct of its activities (Pg. 67). a. This works for Prince in the aspect they are protected as a trademarked company and from other companies or individuals stealing certain ideas that are solely theirs as a company brand. b. However, this works against Prince in its allowance and encouragement of competition in order for the consumer to determine which competitor will succeed and which will fail. This makes it all the more important for Prince to focus on gaining loyalty from more consumers with their products.
2. In order to promote tennis playing and continuously increase the growth of the industry, marketing activities that Prince could focus on are advertising their products with certain professional tennis players. For example would be Venus and Serena Williams who were born in California. One of the sisters Venus now lives in Florida so these two states could be a focus area for Prince's marketing. If money is spent to have Venus or Serena Williams market their products in either a match or ad in California and Florida there is a good chance that consumer purchase of their products is likely. The same would go towards other states that are either the birthplace or home for a professional tennis player. But the other aspect that needs to be researched is which states are high in interest towards tennis playing. If they are not then marketing towards the youth would be a good marketing scheme due to sports in school. The youth's involvement can encourage the adult parent to be involved in their youth’s activity and increases the likelihood of consumer interest.
3. Promotional activities that Prince can use to reach recreational players and junior players are promotions such as: a. Recreational players play on their own time for a fun and enjoyable activity or a way of staying fit and active. For Prince to marketing towards this group of players Prince could emphasize the ease in use of their racquets that allow no interference in the handling when playing or promote their accessories such as carrying bags gives allowance for all essential tennis items along with places for personal items to bring along for a day out on the courts. On the other hand is that there are also recreational players who play for competition and to greatly improve their skills. For recreational players, promoting racquets that help improvement or racquets that focus on certain needs of the player would be a good marketing form. Listing the specific needs on their products will more likely promote towards these players interest and increase chance of purchase if needs are met. b. Junior players tend to be beginner players such as those just starting out either in school or older adults picking up tennis for the first time. To promote to both of these individuals Prince needs to focus on their targeting market. For instance the junior player in school probably wants to use what their friends are using so if Prince is able to market their product as the brand that all the professionals are using then youth will look towards this brand causing their friends to do the same. Adults can take from the same promotion but a better success is to market their needs which are more than likely to be a racquet that will make them feel comfortable when hitting the ball and light to use till their wrists strengthen.
4. To gain distribution and sales in mass merchandisers and specialty tennis shops Prince's focus should be on its layout and offered programs which is currently a strong focus of theirs. a. Mass merchandisers such as Target and Walmart is best to focus on point-of-interest displays for the consumers that are coming in so that they can easily go to what they specifically want and need. Brochures on their products will help the consumer in making a decision on the best product purchase and having a larger and easy to navigate selection than other companies will aide in sales. Providing product layout will gain distribution since the larger stores will want a plan for their stores. b. Specialty tennis shops will need a large supply and variety of Prince Products since this is their main focus. The more products of theirs that is placed on shops shelves will likely promote sales of their products if there is more to choose from than the competitors. However, pricing is a focal point and should be discussed and come to an agreement with the shops if there is to be any distribution. If pricing is reasonable then sales are likely among consumers. Another aspect in helping distribution is providing cutouts of professional players or tennis lessons for those wanting to take them.
5. In reaching global markets outside the United States: a. Prince should focus on a few criteria when selecting countries in which to market aggressively such as: - Are consumer interest in Tennis high? - Are tennis tournaments held here? - Is this a popular place for finding professional tennis players? b. Four countries that meet the above criteria is Australia and France where tournaments are held and Germany and Russia which are both popular countries to have professional tennis players come from. c. To reach these markets Prince must develop a global marketing strategy for each country that focuses on their values and customs along with economic consideration. Their products must price listed in the range that consumers can afford in the country but also must match other countries sales so that is fair and Prince is still able to make profit. When marketing this is when values and customs come in to play because it is vitally important that an offense not be made and consumer loyalty is being made which seems to already be on the side of the Prince Company.