...rebuild its brand. It’s a saga that has played out many times before in business: an iconic brand loses its way and has to struggle to regain its position in the market. For Prince, at stake is the future of a company that once had more than 130 employees and now is looking to add to its current staff of 50. Its strategy includes expanding its product line and bringing back some old favorites, being more active in social media, and continuing to help develop the next batch of top tennis players. Ballardie cited a number of factors that pushed Prince into bankruptcy last May, when the company had $55.2 million in assets and more than $77 million in liabilities. “It really was the perfect storm,” said Ballardie, a 10-year Prince executive who previously led Eastern Hemisphere operations. “A number of things collided. One thing was we were too insular with our technology.” In the mid-2000s, Prince introduced its O3 technology, which features oversized string holes, known as “O-Ports,” on the side of rackets. The O-Ports improve aerodynamics and, in turn, racket speed. By the end of the decade, Prince sold only O-Port rackets. Ballardie said tennis players who preferred more traditional rackets were forced to turn to other manufacturers. The downturn in the economy also slammed Prince. “Prince is, and has always been, a premium brand,” Ballardie said. “Our products are in the upper echelons of the market. Our performance-line rackets, which is what we sell in pro...
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...Prince Market Analysis As the sport continues to experience growth due to the younger interest, Prince has created its own death warrant because it fails to see how it can create a positive and lasting strong hold in a market that has seen a recent upswing. One of the things that sticks out the most to me was the amount of time it took for Prince to realize its superior position in the niche market of tennis and other racket designated sports, I can’t grasp the idea that Prince was not already a major contender in the market. As the sports world is going through a makeover with sport phenoms seeking commercial backing, Prince has assured itself through social networking and sponsorship of young talented athletes is a way to snare young and upcoming players, pro or not. But, this very same issue can be seen as a down fall as well, to either the competitor or Prince. If Prince misses one or two up and coming players, no harm; but potentially missing out on millions in sales would devastate a younger company, a younger company must be spot on in their choices. Every match, win or lose, the player is getting recognition from the media, never a down side to branding unless the athlete does not become the star once thought possible; get them while they are young and you will create a devoted consumer (fan). In my opinion, Prince failed to protect itself when they entered into the arena of hosting minor events. I feel this is their biggest mistake. By doing so the competition should...
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...MKT 113 Scenerio - Prince Sports, Inc. Southern New Hampshire University Prince Sports is an inventive sports equipment retailer that offers many different tennis products. Their tennis products alone consist of numerous types of racquets, tennis strings and footwear models, as well as bags and apparel. The company focuses on persistence to meet the needs of all age levels of players and to innovate. There are numerous methods of marketing to diverse demographics and cultures with many different variables contributing to the increase or decrease in resulting sales. The era brings with it many changes to marketing strategies for businesses. Demographic shifts and cultural changes have led to a higher health awareness, which spurs extensive interest in many different sports, one of which is tennis. For Prince, social and technological avenues have created new channels for marketing such as social media, online advertisments, and e-commerce. Outlets such as social media with devices like smartphones, tablets and other portable computers have led to a higher connection among users, which contributes greatly to word-of-mouth marketing. Accessible peer-to-peer connections can also add to the spread of negative reviews, or competition from other tennis equipment retailers through rival sales or promotions. There are also many economic trends that are working against Prince. The recession left many people with limited disposable income, so buying specialty equipment became...
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...John Urie BMKT 2311 Prince Sports Case 1 In the 21st century, some environmental variables that may affect Prince Sports include ever-changing technology and the deployment and use of social media amongst all age groups. The use of social media is a marketing powerhouse. Microsoft and Facebook sell consumer information to companies who then in turn can fine tune their marketing strategies. They can also reach a larger audience, and more specifically, a younger one, ensuring they can have long-term customers. The constant changing of technology has its drawbacks too. The market is saturated with cheap materials and due to the rise of the popularity of the sport, demand is increasing. With the cost of everything rising, marketing for a cost effective yet competitive product is key. 2 Prince sponsors tennis training camps for kids and adults. They are interested in continuing the rise of tennis in the US. By fostering training and awareness, young consumers who might not have aware of the joys of tennis have a fun and educational experience. Prince also holds “demo events” where consumers can gain awareness for the company and try out their new products themselves. 3 Prince designs and markets their racquets to meet the needs of three distinct styles of players. They also meet the need for three levels of players from pros on television, recreational players and juniors or children. To reach recreational players, they realize that not everyone is a pro, and that everyone...
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...Scenerio MKT 113 - Q1243: Prince Sports, Inc. Jennifer Harrison Southern New Hampshire University Prince Tennis has continually revolutionized tennis with its introduction of new products. Prince uses global marketing to reach its international customer base and the company uses a social media marketing scheme to reach its younger consumers. A partnership with some of the game’s most prominent players is helping Prince Global Sports strengthen its reputation in the tennis market. Prince is using a global marking plan that utilizes social media, player sponsorships, grass root programs, point of purchase programs and print and television ads. Prince should develop a website that reflects the sport of tennis; by using interactive games on their site they could grab the attention of their customers better. The company already employs a good social marketing scheme, but Facebook, Twitter and You Tube could be better used by Prince. The Prince brand could do a better job of reaching out to its customers with more of its own retail stores and possible their own tennis facilities. Prince needs to continue to partner with some of the game’s most prominent players, this will help Prince Global Sports strengthen its reputation and let the global tennis community know that Prince is back in the game. Prince already uses social marketing to reach its younger consumers. The company also uses professional athletes to influence the market. Junior players especially want...
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...Prince Sports Case Study Prince Sports has managed to remain in their field, but the task was not easy. They have been in business for over forty years and have continued to evolve to fit the needs of the consumers while also managing to expand their products. In doing so, they have needed to keep their company ahead of trends that have occurred in the market. So far, they have managed to do so, but with the continuously changing market and economy, Prince Sports needs to constantly be performing research on how to stay ahead. They also have to take in to consideration how these changes are going to affect the products and customers they currently have. In 2012 Prince Sports filed for bankruptcy protection due to an increasing decline in sales which resulted from a few different factors, but mainly due to their lack of remaining true to their older products. A main problem they faced was their advancement in technology. While it was vital and helped them greatly with staying ahead for certain markets, it also hurt them because of the way in which they handled everything that came before their advancements. Rather than offering their previous products, they simply made it appear as if customers had to evolve with the company. Not every customer is going to want to use the new technology they introduce and some are more comfortable with what they are used to. While they have tried to keep their young customers in mind, they cannot forget those who have helped them stay in business...
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...Prince Sports Case Study Valerie Bodner Marketing Principles Dr. Awesome October 17, 2015 Abstract This case study explores different marketing techniques utilized by Prince sports. Research is conducted by utilizing marketing concepts retrieved from various publications as well as Prince sports website. Evolution in technology, joint ventures and adoption of different marketing techniques proved to be successful for Prince sports. There was an evolution of marketing all together at the height of Prince sports success with the introduction and adoption of social media in the marketplace. Prince sports ability to adapt and make changes based on consumer feedback showcased their ability as a company to bounce back after hard times and re-energize the brand. Organizations utilize technology in marketing strategies as a way to ensure that they are able capture all audiences. Social media marketing and innovation are essential components that organizations use today. In today’s society, social media is a given as a marketing tool to most companies. It increases more awareness about a brand as well as reaches a broader, more global audience. Successful organizations evolve their product or service to align with market trends and segments. Prince Sports is an example of an established company that has innovated its products, utilized grass roots marketing techniques and social media to target younger audiences...
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...Study Analysis - Prince Sports, Inc. Quick and fast changes in an environmental market place such as social growth (globalization and the growth of social networks), economic instability (crises), industrial progress, fast growing competitive world and firm marketing regulatory mainly have an effect on the work of most of marketing companies or marketing and brand image divisions of the companies. In order to put into practice a winning marketing plan or a boost in sales and customer awareness companies have to stay in pace with the new marketing environment and take into thought every likely detail that might help out or ruin the image of a company or product. This case study will examine the marketing principle and vision in the background of Prince Sports, Inc. The main emphasis of the case study is Prince Sports, Inc segmentation and positioning. Prince Sports is a racquet sports company, their brands includes Prince (tennis, badminton, and squash), Viking (platform/paddle tennis), and Ektelon (racquetball). Its whole line of tennis products alone is quite remarkable: more than 150 racquet models; greater than 50 tennis strings; in excess of 50 footwear models; and numerous sorts of bags, attire and additional accessories. (Marketing, Eleventh Edition, Kerin, p.239). With the rise of the interest to tennis among different demographics Prince Sports perceived a necessity to target every possible type of consumer. Being in business from 1970 Prince Sports, Inc noticed...
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...Prince Sports is an original sports equipment retailer that offers many different products for tennis, squash, racquetball, badminton and paddle tennis. The companies’ tennis products consist of more than 150 racquets, 50 footwear models and 50 tennis strings, as well as bags apparel and other accessories. Prince Sports focuses on continuing to meet the needs of athletes of all levels and ages. There are many methods of marketing to various demographics and cultures with many contrasting variables that contributes to the increase or decrease in resulting sales. The key players involved in Prince Sports are Linda Glassel the vice president of sports marketing and brand image, Nick Skally the senior marketing manager and Tyler Herring global business director for performance of tennis racquets. The major challenges that Prince Sports is experiencing are trying to stay ahead of the curve in this fast passed changing marketing world. The 21st century delivers with it many changes to marketing strategies for businesses. Cultural changes and demographic shifts have led to a higher health consciousness; this then spurs widespread interest in many various sports such as tennis. For this company, technological and social trends have built new outlets for marketing such as online advertisements, social media and e-commerce. Outlets such as social media and new devices such as tablets, smartphones and other portable computers have led to a higher connection among users; therefore this...
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...Prince Sports is an innovative sports equipment retailer that offers many different products for tennis, squash, badminton, racquetball, and paddle tennis. Their tennis products alone consist of more than 150 racquets, 50 tennis strings and 50 footwear models, as well as bags, apparel and other accessories. The company focuses on continuing to meet the needs of players of all levels and ages and to innovate. There are countless methods of marketing to different demographics and cultures with many different variables contributing to the increase or decrease in resulting sales. The 21st century brings with it many changes to marketing strategies for businesses. Demographic shifts and cultural changes have led to a higher health consciousness, which spurs widespread interest in many different sports, including tennis. For Prince, social and technological trends have created new outlets for marketing such as social media, online advertisments, and e-commerce. Outlets such as social media and new devices like smartphones, tablets and other portable computers have led to a higher connection among users, which contributes greatly to word-of-mouth marketing. Accessible peer-to-peer connections can also contribute to the spread of negative reviews, or competition from other tennis equipment sellers through rival sales or promotions. There are also many economic trends that are working against Prince. The recession left many people with limited disposable income, so purchasing specialty...
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...Prince Sports: Challenges in The Marketing Environment Brittany Pimpinella Empire State College Abstract Prince Global Sports started out as an unintentional creation of an oversized tennis racquet that Howard Head created all because the thought of simply larger tennis racquet because the game of tennis was too complex to him. His creation launched a money making company later to be known as Prince Sports INC. This company had grown so much they expanded into the footwear, tennis gear, running gear, accessories, sports bags and many more products that had competitors leaving the market. Prince had learned that creating items and selling them wasn't as easy as it was thought out to be, the constant struggle of needing newer product, better marketing skills, and finding loyal consumers were all challenges he faced. Luckily, Prince’s marketing team was able to reach out to the right consumers that had that annual making 64 million in revenue, but only for so long. Prince Sports: Challenges in The Marketing Environment All type of businesses face unique challenges. It is almost impossible to start launch a business correctly without time, effort, and dedication. A business is not built in a day neither is the workers nor product. Most business owners just have the desire to own a business not the drive to do so. They must find a way to start their business off right, by gathering their thoughts. Buying a franchise, an existing business, or looking to others for...
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...and his pledge to modernise Britain, but he promises to respect the Royal Family. Three months later, Diana, Princess of Wales died in a car crash at the Alma Bridge tunnel in Paris. Blair's director of communications, Alastair Campbell (Mark Bazeley), prepares a speech in which Diana was described as "the people's princess". Blair gives his speech the next day and the phrase catches on. Within the next few days after Diana's death, millions of people across London display an outpouring of grief at Buckingham and Kensington Palaces. Meanwhile, the Royal Family are still at their summer estate in Balmoral Castle. Diana's death sparks division among members of the family, in which they observe that since Diana was divorced from her husband, Prince Charles (Alex Jennings) a year earlier, she was no longer a part of the family. Diana's funeral arrangements were thus best left as a private affair of her noble family, the Spencers. Charles argues that the mother of a future king cannot be dismissed so lightly, while the Queen authorises the use of an aircraft of the British Royal Flight to bring Diana's body back to Britain. In London, flowers pile up before the palace railings, which forces the changing of the Queen's guard to use another gate. British tabloids become inflammatory about the lack of a statement from the Royal Family. Charles leaves no doubt that he shares Blair's views about the need for a statement. As the Royal Family's popularity plummets, Blair's acceptance rises...
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...The Prince, written by Machiavelli, was a guide for all the rulers of his time who wanted to become major powers and to find all the solutions to their political problems. In his book, Machiavelli mentions a great amount of key points that guide rulers to the road of success. One of the key aspects that Machiavelli talks about is fate and how it effects the decisions of a ruler. The following paragraphs will discuss how human affairs are governed by fate, and how fate can be contested. During Machiavelli's time, it was commonly thought that events were ruled by fate and by God only. Not only that, but men could do nothing to stop or protect themselves from those events. Machiavelli did believe in fate, but he did not believe in the fact the fate controlled all events that occurred to mankind. If that were so then princes would rule by chance. This is proven when Machiavelli states I am not unaware that many have held and hold the opinion that the events are controlled by fortune…cause of this, they would conclude that there is no point in sweating over things, but that one should submit to the rulings of chance. (Machiavelli, pg.79) Machiavelli argued that fate controlled one half a person's life but the other half was governed by the people themselves. Machiavelli strongly suggests that princes are fortunate when fate and time are in harmony with their procedures, but things fall apart when things begin to change and the princes do not attempt to adapt to the changes. Machiavelli...
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...THE LIFE AND TIMES Gloria Garcia PSY 202 Adult Development and Life Assessment Maritza Leon-Veiguela June 25, 2012 The life and times of Gloria Garcia Outline I. What my family was like a. Size b. Personalities II. Jobs I have held c. Video game bata tester III. My family now IV. Greatest achievements to date d. Mother V. Personal, Professional, and Academic goals e. PTSD f. Clinical THE LIFE AND TIMES Ever try to live in a house with eight other siblings with you being the youngest? I did and it was not easy to say the least in fact it was a living nightmare or so I thought at the time. In this paper I will present a brief description of how I survived my family growing up, but most importantly how my family and some of my life experiences have impacted my life as I know it today. Using the adult development theories from this course I will also bring to light some of my future goals and what I would like to accomplish. I was the youngest of nine children living in Brooklyn New York inside what seemed to be a small two story walkup. So needless to say I had all the cards stacked against me, with five older sisters and three older brothers simple things people in allot smaller families take for granted day after day, I did not know of until I was almost the age of fourteen, simple things like; Privacy, having seconds at dinner sometimes just having dinner was a task by itself. My Mom spent most...
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...Advice for managers: Intrapersonal Skills Achieve and Maintain Confidence, Focus, and Positive Self-image Decreasing Self-Oriented Perfectionism Work on your self-esteem, and try to stop the automatic thinking that sets your sights so high that your efforts can never measure up. It is OK to be hard on yourself on occasion, but be sure to take some time to be proud of your successes as a manager - and as a person. Reflect seriously about how you perceive yourself. Note your own negative and positive self-impressions. Write down what you like about yourself, what your strengths are, the people to whom you are important, and why you are important to them. Also, keep track of your negative perceptions and try to figure out why you took that particular issue so seriously. Maybe it wasn’t so bad after all. Explore why you should be proud of yourself and review this list often. Keep a journal of your thoughts, moods, and daily activities. Observe your automatic reactions to events at work and how you feel about yourself during daily life. If you make what you see as a horrendous mistake and feel like the lowest, lamest, most despicable worm on the earth, then write down the event, how you feel about yourself, and how you interpret the situation. Next, consider the situation from other perspectives and write these thoughts down as well. Follow these steps to gain new insight about your perceptions: - Do a serious reality-check: Are other people thinking as scathingly about you? If...
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