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 …show more content…
With the rising interest in tennis and the increasing accessibility of information, it will be important to know where they relate to the product and marketing. They need to make sure that the data they collect for their research is appropriate and relevant (Kerin et al, 2013).
When looking in to ways to market their products and keep up with trends, it would be best for Prince to consider segmenting. Looking at what appears to be their different markets, the most important segments for them to focus on are as follows: * Pro-Athletes * European * The Youth * Past and Current Customers respectively * Future Customers
It would be worth the extra investment of time for Prince to pay close attention to pro-athletes. Their opinions should be accounted for separately because they are a separate sector of customers that Prince Sports supplies for. They are also an important way of advertising, especially if they want to attract a younger customer base. Knowing that tennis is on the rise, maintaining a positive relationship with athletes is vital. Prince sports also needs to consider the difference in cultures between America and Europe. More importantly, the difference between the countries within Europe. Watching this segment allows them to consider different prices, marketing tools, which tennis pros may be more liked there and lastly, it allows for them to consider what may be worth introducing in certain areas based on how it works