Interview 1: George, Age 32, 11 Handicap(Intermediate Level Golfer)
Me: So George, when you're shopping for a new set of golf clubs(irons specifically), how exactly do you do your shopping?
George: Generally, I like to find a high-end set of clubs for the best price possible. I'll typically go to multiple well-known sporting/golf goods store such as Dick's or Edwin Watts. From there, I'll find the newest model available with the specs that I want and will then ask them to show me the previous year model of the exact same clubs.
Me: So other than price and quality, are there any other factors that you consider?
George: There is a certain style of club that I look for. Being an intermediate player, I want something with good feel, but also some forgiveness for the mishits as well. I've found that the top three brands of irons that can do this for me are Titleist, Taylormade, and Mizuno.
Me: So feel and forgiveness are the two factors that you would consider the most important to you in the mid-level skill segment of irons?
George: Yes, no doubt.
Me: Do you always go to one of those stores or do you ever order anything online?
George: I always like to go in person because I feel that I can better evaluate the quality and specs of what I'm trying to find. Also, I like to get my clubs custom fit to my body, swing type, etc... so that I can trust my equipment will never be a factor when I'm not hitting the ball my best. Obviously, if they have what I need but not in stock, I will order them with the custom fit specs and have them delivered to where I live.
Me: Do you always purchase outright with either cash or card, or have you ever financed a set of irons?
George: I generally always just purchase them outright. However, I do have friends that have financed clubs before.
Me: After you buy a set of clubs, what helps you justify that you made the correct purchase? By this, I mean what makes you feel that it was fair? What makes you feel that it was a good idea?
George: In regards to it being a good idea, I generally wait 5-6 years to get a new set of clubs. This is because I play enough to where by this point, the clubs have undergone significant wear and tear. Also, golf technology usually goes through a noticeable transformation during this general time frame. I know that if I want a new set of clubs before this that it's not necessarily something I need and will control myself. Furthermore, I make sure that I can more than afford the clubs so that I don't have to worry about any financing. In regards to the purchase feeling fair, I always do my research on the 2-3 sets that I narrow down before I actually go to any stores. This way, I have an idea of the general price range and will know if the salesman at the store is trying to be unethical to make a quick dollar. Finally, I always find myself looking up YouTube videos of reviews on the set of clubs to justify my purchase. I do this pre-purchase as well as part of my research. The only difference is that I always watch the videos post-purchase after I've actually tried them out at the course. Most of the time, I feel like I do a good job!
Me: Wow George, that was a great answer! I really appreciate it. Finally, has there ever been a time where you weren't satisfied with you purchase?
George: Yes, unfortunately. Once when I was younger/just picking up the game, I got ripped off on a set of irons. The salesman sold them to me at well above market price, and they weren't even good quality! I can't even remember the brand name. That's when I learned to do my preliminary research, as well as to always shop from a reputable sporting goods store!
Me: Well George, I'm glad to hear that you've pinned this process down to a science. Thanks for talking to me today.
George: No problem Max, anytime.
Interview 2: Jake, Age 27, 2 Handicap-Scratch(Advanced Golfer)
Me: Hey Jake. When you're shopping for a new set of clubs(irons specifically), how do you generally do your shopping?
Jake: At this point, I'm very brand loyal to Titleist. So much so that I go out to California every 3 years to get custom fit at their national facility.
Me: So you've already segmented your purchase to a specific style, quality, price, etc...?
Jake: Oh yes. I know exactly what I want/what I'm getting every time.
Me: Do you always pay for your clubs outright? Or do you ever finance them?
Jake: I always purchase them at the facility.
Me: So in terms of a post-purchase evaluation, it's insignificant to you at this point since you get the same product every time?
Jake: Exactly.
Me: Well Jake, that interview was short and sweet and gave me all the data I need. Thanks for dropping by!
Jake: Anytime Max!
Interview 3: Anita, Age 23, Novice Golfer
Me: Hey Anita. Have you ever bought a set of golf clubs?
Anita: No. I've only been to a golf course twice in my life and just borrowed the clubs my friend has.
Me: I understand that you're in the market for a set, is that correct?
Anita: Yes.
Me: I'm going to assume you will be looking for a beginner set, one that includes everything from a driver to putter, correct?
Anita: I guess so... If that's what you're recommending! Haha!
Me: I feel that would be best, yes! Most of these clubs come of a similar quality, generic branding, and similar styling as well. They are all roughly the same price as well. However, you can choose to get a name brand beginner set from a company like Callaway. It will just be a little more expensive and maybe a little higher quality. What do you think you would choose?
Anita: I think I would go with one of the generic sets. I'm not really sure if I'm going to get super into golf at this point to be honest, yet I want a decent set for when I do go.
Me: That makes perfect sense Anita. Now where do you think you would buy a set like this?
Anita: I've seen some really good deals online. Like I said, I just want a decent set at this point for the best price. So I'd probably buy off a site like Amazon.
Me: Do you think you'll be too concerned with the post-purchase evaluation stage of your clubs?
Anita: Honestly, as long as they don't arrive broken, no. I feel that I'll need to work on my game(aka consistently get the ball in the air, lol) before I can make an accurate evaluation of a set of clubs.
Me: That makes perfect sense Anita. Practice hard! I promise you, this is truly a humbling game.
Anita: Thanks Max, I appreciate it!
Findings:
As you can see, there is a direct correlation between the skill level of a golfer and the seriousness of his or her purchase behavior towards a new set of clubs.
Conclusions:
Based off these findings, I can conclude that there is a market for high end golf clubs at a far discounted price than what is considered "par." Even though the alternative evaluation, purchase decision, etc... differ from golfer to golfer based on their skill level, it is undeniable that regardless of skill, everyone wants to pay less for a set of clubs. Even Jake- although his ego from being so good and having sufficient wealth may not want to admit it. I'd rather just take the hit and make a meager profit for the betterment of the golfing community in the long run...
Friday, October 19, 2018
Friday, October 12, 2018
Assignment 14- Halfway Reflection: Paying it Forward
1. Tenaciousness is a competency:
- Unfortunately, I have missed three assignments thus far. There are personal reasons behind why I missed them, so I will disregard those for this post. As for everything else, having a tenacious attitude is obviously essential to getting your work done. Once you have this attitude towards it, it allows you to be punctual, efficient with your time spent on the work, and allows you to truly express yourself through the assignment. I would say those are the three behaviors I've used so far as we're now halfway through the semester.
2. Tenaciousness is also about attitude:
- The personal issues I alluded to above contributed to me having feelings of giving up. However, I know that I'm not a quitter and will persevere through anything despite and "outside noise." That thematic mindset that I've had my whole life is what pulled me through. A combination of a tougher course-load overall and reconciling with issues outside of school has without a doubt further developed my tenacity over the past couple months. I'm excited to see how I can implement this attitude towards things in other areas of my life.
3. Three tips:
1. Try your hardest to not wait until Friday to do the assignments
-Although I may sound hypocritical, I'm only saying this out of experience. It's much easier to get things done in advance as you're not as stressed due to not being as pressed for time. Also, you will be able to fit more things into your schedule later in the week. If you implement this from the start, your tenacity will naturally increase as you will get into the habit of attacking things early.
2. Be authentic in each post
-You're only cheating yourself if you aren't representing who you are in each post. You won't grow in terms of thinking like an entrepreneur, and it's only going to make you're tenacity decrease as you'll begin to care less and less with each assignment.
3. Watch the lectures
I'll be honest, this is something I'm guilty of not doing a lot. Trust me, I've paid the price for it too. It's only decreased my ability to develop true tenacity. Not only will you understand the course on a much deeper sense if you do keep up with all of them, you're tenacity will increase exponentially as well since you'll start to develop the habit I talked about earlier. To me, tenacity is just the result of forming productive habits that force you to think. That's it. If you can master that, you're golden.
- Unfortunately, I have missed three assignments thus far. There are personal reasons behind why I missed them, so I will disregard those for this post. As for everything else, having a tenacious attitude is obviously essential to getting your work done. Once you have this attitude towards it, it allows you to be punctual, efficient with your time spent on the work, and allows you to truly express yourself through the assignment. I would say those are the three behaviors I've used so far as we're now halfway through the semester.
2. Tenaciousness is also about attitude:
- The personal issues I alluded to above contributed to me having feelings of giving up. However, I know that I'm not a quitter and will persevere through anything despite and "outside noise." That thematic mindset that I've had my whole life is what pulled me through. A combination of a tougher course-load overall and reconciling with issues outside of school has without a doubt further developed my tenacity over the past couple months. I'm excited to see how I can implement this attitude towards things in other areas of my life.
3. Three tips:
1. Try your hardest to not wait until Friday to do the assignments
-Although I may sound hypocritical, I'm only saying this out of experience. It's much easier to get things done in advance as you're not as stressed due to not being as pressed for time. Also, you will be able to fit more things into your schedule later in the week. If you implement this from the start, your tenacity will naturally increase as you will get into the habit of attacking things early.
2. Be authentic in each post
-You're only cheating yourself if you aren't representing who you are in each post. You won't grow in terms of thinking like an entrepreneur, and it's only going to make you're tenacity decrease as you'll begin to care less and less with each assignment.
3. Watch the lectures
I'll be honest, this is something I'm guilty of not doing a lot. Trust me, I've paid the price for it too. It's only decreased my ability to develop true tenacity. Not only will you understand the course on a much deeper sense if you do keep up with all of them, you're tenacity will increase exponentially as well since you'll start to develop the habit I talked about earlier. To me, tenacity is just the result of forming productive habits that force you to think. That's it. If you can master that, you're golden.
Assignment 13-Reading Reflection #1
*I chose to read the biography Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future by Ashlee Vance
1. You read about an entrepreneur:
1. You read about an entrepreneur:
- What surprised you the most?- Although this isn't directly related to Musk's entrepreneurial abilities, I would say what surprised me the most in this book was when Musk contracted falciparum malaria while on vacation with his wife at a game reserve near the Mozambique border in South Africa. Occurring shortly after the Board of PayPal/X.com voted him off from the CEO position, Musk lost 45 pounds over the course of the illness which took six months for him to fully recover from. The doctor who eventually figured out what exactly it was and cured him said that if he had waited a day later he very well could have died. This surprised me because I think it goes to show that everything happens for a reason. By that I mean that Musk was meant to live and do great things for the advancement of mankind.
- What about the entrepreneur did you most admire?- I would say what I most admire about Musk is his pure intellectual abilities. I mean come on. This guy taught himself code as a boy, proceeded to code his first video game at the age of 12, and now he's on a mission to revolutionize the space industry with a more compact type of rocket that can travel for longer distances yet still carry a suitable payload. This is all to try and colonize Mars as you very well may know... Oh, and to top things off he's already hit Detroit in the teeth with his Tesla electric cars, whose recharging stations are powered by solar energy... The guy is a freak and I'm jealous.
- What about the entrepreneur did you least admire?- The one thing that I definitely did not like about Musk is the fact that his work seems to have consumed him to the point where he is somewhat detached from his emotions. Since he's "wired this way," he's never been the best group/team leader, which is why he has so many people to get through as an employee before you can actually talk to him. However, I think this issue stems from his childhood. In the beginning of the book when we were learning about his upbringing in South Africa, he refused to talk about his father in any depth because "he's good at making life miserable- that's for sure"(37). There are other details that hint at Elon's father putting he, his brother, and his sister through psychological turmoil. All in all, I think this is the true reason Elon has this problem.
- Did the entrepreneur encounter adversity and failure? If so, what did they do about it?- In order to get to where Elon Musk is today, it's impossible to not encounter any adversity or failure. He has responded differently to different situations that all occurred during separate "stages" in his career, so to speak. The moment of adversity I will talk about again was when Musk was voted off from the CEO position of X.com/PayPal in September of 2000. The reason why I think this is the most important moment of adversity Elon has faced in his career thus far is because even though he was slighted out of the position, he knew deep down that he wasn't making decisions that were in the company's best interest. When his successor Peter Thiel re-branded X.com as PayPal, Elon didn't let it get the best of him. In fact, he was very calm and actually supportive of Thiel through the whole ordeal. He continued to invest in the company and was still the largest shareholder. I feel that he showed this restraint because he knew that he had done wrong and that the company was still going to be fine without him as CEO. In July 2002, eBay purchased PayPal for $1.5 billion, with Musk walking away with $250 million.
- What competencies did you notice the entrepreneur exhibited?- There are two things I noticed that Musk is very competent at that most people aren't. One, his absolutely insane work ethic. I mean the man would constantly pull all-nighters in his younger years and would forgo eating, hygiene, etc... just so he could get more work done. Yeah, all of us pull all-nighters here and there to get work done, but this man was on a different level. This leads me to my second point, which is that when Elon truly believes in something, he feels a personal obligation to attack the counters to his beliefs himself. He doesn't want to work for somebody that is doing it, nor take up a profession that may have a trickle-down effect to the cause. No. He wants to do it himself and he won't stop until it's complete. This is without a doubt what drives his insane work ethic.
- Identify at ;east one part of the reading that was confusing to you- One part of the reading that was confusing to me was the fact that Musk constantly over-promised, over-hyped, and just flat out bragged to the media about his latest project that was going to make him even more rich. I don't know if this is something he did on purpose or if it was just another weird, impulsive quirk to his personality. Either way, it has cause the media to be highly critical of his work over the years, especially when he fails.
- If you were able to ask TWO questions to the entrepreneur, what would you ask and why?
Question 1- Do you still feel like you have the youthful energy that everyone raved about in the past or are your years of hard work/age starting to catch up to you?
-The reason why I would ask this question is because I think the answer would be a good determinant as to how much Elon will be able to accomplish before his life ends.
Question 2- Which company is your favorite? Why?
-First off, if anybody can have this question asked to them, they're doing great things. Anyways, I feel that I already know the general answer to this question fro reading the book. However, I feel that Elon himself could give me a more thorough answer that will really tell me why he likes one over another with respect to the individuality each company contains with how they work.
5.
- For Fun: What do you think the entrepreneur's opinion was of hard work? Do you share that opinion?
Elon Musk's opinion of hard work is just that: HARD WORK. He believes that if work is to be done, you must put your absolute all into every aspect of whatever it is you're working on. Even if that means periodically sacrificing things one needs to survive such as sleep, food, etc... He also believes that you must wholeheartedly believe in whatever it is you are working on. When it comes to the belief aspect of hard work, I one-hundred percent agree with Elon. Why would anyone work on something they don't truly believe in? It kind of just defeats the purpose of doing the work in the first place... However, I feel that Elon has an abnormal work ethic because of the extent of the connection he feels when he believes in something to that something. Most people can't make that deep of a connection, including myself. Therefore, I would rather work hard but know when it is time to call it quits for the day so that I can properly manage the other areas of my life. It's safe to say that Elon Musk is truly just a different animal.
Friday, October 5, 2018
Assignment 11-Idea Napkin No. 1
1. "You"- Seeing that golf is my passion, it was an easy decision for me to come up with a business idea that involves the game. I have almost a decade of experience playing the game, as well as immersing myself in the culture that surrounds it. I know a lot about the mechanics of the swing, as well as the importance of custom-fit equipment. Ideally, I'd like to have a business that utilizes this aspect of the game when serving our customers while also trying to expand the traditional demographic of golfers. If this ever became a reality, it would essentially be my life.
2. "What are you offering to customers?"- In my previous assignments, I've stated that I would like to offer custom-fit equipment at a fraction of the price of any other custom-fit, high-quality golf equipment on the market today. My initial idea was to refurbish existing company's golf clubs and custom-fit it with a specific shaft, lie angle, etc... from there. However, I feel that this isn't innovative enough and probably won't be successful in the long-run. Also, I could run into a lot of legal issues as well in terms of trademarking, etc... Therefore, I'm not sure what I want to offer yet. I've been brainstorming some other ideas such as an app that can analyze your swing and tell you the exact specifications of what kind of clubs you would need that fit your body type, swing type, etc... However, this wouldn't really relate to the social responsibility aspect of my mission.
3. "Who are you offering it to?"- As aforementioned, I would like to target an alternate market than what marketers in the golf industry would normally target when trying to sell golf equipment. Golf is a game that has historically been played by people of higher class, and golf companies have capitalized on this by putting no restraints on the materials they use to make clubs. While this no doubt enhances performance characteristics, it allows these companies to charge massive premiums on their clubs to make their desired profit. Therefore, I would like my club manufacturing company to be able to offer "on par" level equipment as compared to the giants like Titleist, Taylormade, etc... However, there has to be some form of material you can use that will allow you to acheive the desired cost effectiveness while having the same performance results. This will open up golf to a completely new demographic for the better.
4. Why do they care?- Consumers in the golf world would appreciate the decrease in cost with the same results as their old clubs, as everyone loves a discount! However, people who were never able to play the game but always wanted to will truly enjoy this new concept to the equipment side of the game. The expanded life approach attained from taking the game seriously will be the true benefit that will drive their loyalty to the brand. They will be the repeat customers that would provide most of the business for the foreseeable future.
5. What are your core competencies?- Our commitment to diverseness yet still allowing everyone to be included is what will set us apart from the rest of the golf industry. By exemplifying this in our day to day business practices in unison with charitable marketing practices, we will show the world why we are so committed to our initial cause: making golf available for everyone.
2. "What are you offering to customers?"- In my previous assignments, I've stated that I would like to offer custom-fit equipment at a fraction of the price of any other custom-fit, high-quality golf equipment on the market today. My initial idea was to refurbish existing company's golf clubs and custom-fit it with a specific shaft, lie angle, etc... from there. However, I feel that this isn't innovative enough and probably won't be successful in the long-run. Also, I could run into a lot of legal issues as well in terms of trademarking, etc... Therefore, I'm not sure what I want to offer yet. I've been brainstorming some other ideas such as an app that can analyze your swing and tell you the exact specifications of what kind of clubs you would need that fit your body type, swing type, etc... However, this wouldn't really relate to the social responsibility aspect of my mission.
3. "Who are you offering it to?"- As aforementioned, I would like to target an alternate market than what marketers in the golf industry would normally target when trying to sell golf equipment. Golf is a game that has historically been played by people of higher class, and golf companies have capitalized on this by putting no restraints on the materials they use to make clubs. While this no doubt enhances performance characteristics, it allows these companies to charge massive premiums on their clubs to make their desired profit. Therefore, I would like my club manufacturing company to be able to offer "on par" level equipment as compared to the giants like Titleist, Taylormade, etc... However, there has to be some form of material you can use that will allow you to acheive the desired cost effectiveness while having the same performance results. This will open up golf to a completely new demographic for the better.
4. Why do they care?- Consumers in the golf world would appreciate the decrease in cost with the same results as their old clubs, as everyone loves a discount! However, people who were never able to play the game but always wanted to will truly enjoy this new concept to the equipment side of the game. The expanded life approach attained from taking the game seriously will be the true benefit that will drive their loyalty to the brand. They will be the repeat customers that would provide most of the business for the foreseeable future.
5. What are your core competencies?- Our commitment to diverseness yet still allowing everyone to be included is what will set us apart from the rest of the golf industry. By exemplifying this in our day to day business practices in unison with charitable marketing practices, we will show the world why we are so committed to our initial cause: making golf available for everyone.
Friday, September 28, 2018
Assignment 9- "Testing the Hypothesis, Part 2
Overview:
I interviewed three males and two females. I felt that interviewing both genders would capture the true demographic of golfers. However, since male golfers make up 62.5% of all golfers in the world, I figured having an extra male would be a more accurate assessment. Anyways, this is what I found when analyzing the "who's, what's and why's" that lie outside the boundary of the traditional boundary definition of my hypothesis:
Who- This is anyone who has an interest in/plays the game of golf. However, for my opportunity idea I was specifically trying to target novices of the game. This is because if their first ever club purchasing experience is from a company that refurbishes, and promotes an all-inclusive approach to the game, they will be more likely to carry that attitude with them to the courses they play/any other golf related event. Ideally, this will create a better stereotype for the game of golf that doesn't just include wealthy individuals. With that being said, anyone outside of my "who" boundary would be intermediate to advanced skill-level players who have already been "grandfathered" into the traditional view towards the game.
What- To eliminate the common perception of golf being a game for the wealthy only. Holistically, this is the same as trying to rid of discrimination within our society. Therefore, I feel that the only people outside of this boundary are wealthy individuals who want to keep golf the way it is in order to promote their feeling of exclusiveness. I wouldn't say that these people represent racists, homophobics, etc... However, if you're using the same holistic approach that relates to my specific cause, it would be anybody who wants to keep discrimination alive. No bueno...
Why- In order for golf to be enjoyed by people of all walks of life. The lessons that you learn from advancing in the game also teach you a lot about yourself and how to succeed in the world. The underlying cause of an outsiders need(wealthy golfers) is no different from my target consumers in this sense. However, I will assume that they do not want golf to be enjoyed by all(although this isn't the case for all of them). Therefore, outsiders only share "half" of the need for why in regards to my opportunity.
Summary:After working through this exercise, I can conclude that the outsiders to my boundaries were exactly as I'd thought they'd be. The only exception would be that the outsiders "why" is partially shared with the insiders in that they both agree to the life lessons taught by the game.
I interviewed three males and two females. I felt that interviewing both genders would capture the true demographic of golfers. However, since male golfers make up 62.5% of all golfers in the world, I figured having an extra male would be a more accurate assessment. Anyways, this is what I found when analyzing the "who's, what's and why's" that lie outside the boundary of the traditional boundary definition of my hypothesis:
Who- This is anyone who has an interest in/plays the game of golf. However, for my opportunity idea I was specifically trying to target novices of the game. This is because if their first ever club purchasing experience is from a company that refurbishes, and promotes an all-inclusive approach to the game, they will be more likely to carry that attitude with them to the courses they play/any other golf related event. Ideally, this will create a better stereotype for the game of golf that doesn't just include wealthy individuals. With that being said, anyone outside of my "who" boundary would be intermediate to advanced skill-level players who have already been "grandfathered" into the traditional view towards the game.
What- To eliminate the common perception of golf being a game for the wealthy only. Holistically, this is the same as trying to rid of discrimination within our society. Therefore, I feel that the only people outside of this boundary are wealthy individuals who want to keep golf the way it is in order to promote their feeling of exclusiveness. I wouldn't say that these people represent racists, homophobics, etc... However, if you're using the same holistic approach that relates to my specific cause, it would be anybody who wants to keep discrimination alive. No bueno...
Why- In order for golf to be enjoyed by people of all walks of life. The lessons that you learn from advancing in the game also teach you a lot about yourself and how to succeed in the world. The underlying cause of an outsiders need(wealthy golfers) is no different from my target consumers in this sense. However, I will assume that they do not want golf to be enjoyed by all(although this isn't the case for all of them). Therefore, outsiders only share "half" of the need for why in regards to my opportunity.
Novices to the game of golf who need clubs at a discounted price.
|
||
Summary:
Friday, September 21, 2018
Assignment 8- "Solving the Problem"
As I stated in my last post, here is my selected opportunity: "Golf is a game that is associated with wealth, high-class, and just an older demographic in general. This is mainly due to the price of equipment and greens fees, especially at high-end courses. An effort needs to be made by the industry to make quality equipment available to consumers at a more realistic price, as well as implement ways to make the game more affordable, such as offering payment plans."
For the purposes of this assignment , I am going to solely focus on the equipment aspect. Although this is a great idea, here is the main problem I ran into when evaluating further: "How are you going to be able to afford to make such a product while still having a good profit margin?" This is definitely the biggest business related problem with this opportunity as it is expensive to make quality golf clubs, and selling them at a low price would obviously hurt profit.
My solution: Initially, I thought that making equipment under my own brand would be the way to go. However, if we're going to make a decent profit, refurbishing would be the only option. Buying faulty products off of the big brands like Callaway and Titleist would be an option. Refurbishing them under those respective brands but having the necessary tools to allow custom-fitting options regardless of the club brand would be ideal. Selling them under my own brand but advertising them under the respective club manufacturer would allow for my brand to gain recognition. Obviously, this would potentially further the stereotype around golf, as it would mean if you want a less expensive club, it would have to be refurbished or just not of name-brand recognition. However, this isn't the only solution to this problem. This is just one, "prototypical" solution.
For the purposes of this assignment , I am going to solely focus on the equipment aspect. Although this is a great idea, here is the main problem I ran into when evaluating further: "How are you going to be able to afford to make such a product while still having a good profit margin?" This is definitely the biggest business related problem with this opportunity as it is expensive to make quality golf clubs, and selling them at a low price would obviously hurt profit.
My solution: Initially, I thought that making equipment under my own brand would be the way to go. However, if we're going to make a decent profit, refurbishing would be the only option. Buying faulty products off of the big brands like Callaway and Titleist would be an option. Refurbishing them under those respective brands but having the necessary tools to allow custom-fitting options regardless of the club brand would be ideal. Selling them under my own brand but advertising them under the respective club manufacturer would allow for my brand to gain recognition. Obviously, this would potentially further the stereotype around golf, as it would mean if you want a less expensive club, it would have to be refurbished or just not of name-brand recognition. However, this isn't the only solution to this problem. This is just one, "prototypical" solution.
Assignment 7- "Testing the Hypothesis, Part 1
1. Opportunity: Golf is a game that is associated with wealth, high-class, and just an older demographic in general. This is mainly due to the price of equipment and greens fees, especially at high-end courses. An effort needs to be made by the industry to make quality equipment available to consumers at a more realistic price, as well as implement ways to make the game more affordable, such as offering payment plans.
2. "Who, What, Why"
-For Who?- Individuals who have an interest in the game of golf, but are being "crowded out" by the established, wealthy consumers of golf who clearly show a sense of pride in the game's association with class and power.
For What?- To eliminate or at least reduce the game's stereotype of only rich people being able to play the game. This has been greatly reduced in the last couple decades, however more work still needs to be done.
Why?- So that everyone can experience the wonderful game of golf, as well as all the life-lessons that come with advancing in the game. Golf should be enjoyed by everyone, regardless of their background/demographics.
3. Hypothesis- To provide custom fit golf equipment for novices of the game at a fraction of the price as any competitors custom fit equipment.
-I would say only the people in my current "who" have this need. That is, people who want to take up the game but don't feel they can afford it in the long run.
-If this could be successfully implemented, it would without a doubt make a dent in the current stereotype surrounding golf.
-Some people may already be golfers, and just want quality, custom-fit equipment at a lower price. While this is good and well, for now I would like to solely focus on novices. This "why" can be tackled once the hypothesis holds true/becomes successful.
4. Interviews- I will try my best to cover the "general range" of golfers/people interested in golf to better assess the validity of my opportunity hypothesis.
1. Mark:
-Mark, give me a brief background of your experience with golf
A: I've been playing since I was 15, and now I'm 40. So I'm no novice! I have a 5 handicap.
-How much money do you make a year?
A: Usually between $200,000-$250,000.
-Do you feel that golf should be made more widely available to other types of consumers?
A: Why yes, I think that would be good. How are they going to afford it though?
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: Yes. Golf is commonly associated with upper-class. To be honest with you, I like the aristocracy that surrounds the game. It makes me feel truly elite when I have people put my bag in my cart for me, and calling me "Sir" in every conversation, etc...
-So you'd rather enjoy this aspect of the game, and let other people who might not be as financially well off as you miss out on what really matters about the game of golf?
-No comment. When can I leave?
2. Justin:
-Justin, give me a brief background of your experience with golf.
A: I've been playing for about ten years. I'd say I'm an intermediate player, since I can't play every weekend.
-How much money do you make a year?
A: About $80,000.
-Do you feel that golf should be made more widely available to other types of consumers?
A: Of course. It's pretty apparent that golf companies today are biased with who they market to.
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: Without a doubt. It's what I alluded to in your last question, and that is that the golf industry is very dependent on it's high class consumers; both for profit and stereotypical image reasons... wait did I just say stereotype?
-What would you think about a cutting-edge golf equipment company that focuses on marketing to people who can't afford traditional golf equipment/beginners? Custom-fitting options would be available as well.
A: That sounds like it would be fantastic. Could very well eliminate a lot of notions about the game. However, how are you going to be able to afford to make such a product while still having a good profit margin? (Good question Justin. We'll get to that a little later...)
3. Sarah:
-Sarah, give me a brief background of your experience with golf.
A: I'm currently 19, and play golf in college. So I'm no beginner.
-How much money do you make in a year?
A: I don't make any money. I use whatever is on my dad's credit card.
-Do you have goals of playing on the LPGA tour?
A: Of course. However, it's very tough to get a spot to play there, and I don't know if I'll ever be quite good enough to be a consistent tour player. We'll see what happens.
-Do you feel that golf should be made more widely available to other types of consumers?
A: Yes, but I feel like golf is so strongly associated with wealth that it will never happen.
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: Obviously. As I just stated, it has a stereotype of only rich people being able to play.
-What would you think about a cutting-edge golf equipment company that focuses on marketing to people who can't afford traditional golf equipment/beginners? Custom-fitting options would be available as well.
A: I mean that sounds great and all, but I don't think it would be able to compete with the like's of Callaway and Titleist for long...
4. Tessa:
-Tessa, give me a brief background of your experience with golf.
A: I am currently 32 years old and have never played.
-How much money do you make in a year?
A: My husband and I combined make about $80,000. We have two kids as well.
-Does you husband play golf?
A: No. I'm the only one currently interested in taking it up.
-Do you feel that golf should be made more widely available to other types of consumers?
A: Absolutely. Especially for middle-class people like me who can't afford to currently play on a regular basis.
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: Golf is a game that is strongly associated with high-class and wealth. Through the years, that is what has created the stereotype. However, there is definitely a growing movement to try and "de-gentrify" the game, so to speak.
-What would you think about a cutting-edge golf equipment company that focuses on marketing to people who can't afford traditional golf equipment/beginners? Custom-fitting options would be available as well.
A: That sounds amazing! Obviously there are some big business-related questions to tackle there in order for it to be successful. However, that sounds like a big step in the right direction if change is really going to happen.
5. Jack:
-Jack, give me a brief background of your experience with golf.
A: I'm currently 21 and am a college student. I've messed around with my buddies on the course here and there but I've never actually taken a lesson or really tried to learn the game.
-How much money do you make in a year?
A: I'm in college, what do you think? I'll give you a hint: not enough.
-Do you feel that golf should be made more widely available to other types of consumers?
A: It definitely seems like it should. I'm sick of seeing a bunch of old men who drive Cadillac's every time I go to the course.
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: It definitely has this "high class mentality" associated with it so I guess that would be the stereotype.
-What would you think about a cutting-edge golf equipment company that focuses on marketing to people who can't afford traditional golf equipment/beginners? Custom-fitting options would be available as well.
A: That sounds awesome. I'd definitely buy clubs like that. I feel like that would be hard to make a reality, but by all means go for it!
Summary: As you can see, I covered a wide array of current golfers as well as people who have minimal to no experience with the sport. I purposefully incorporated both genders into my interviews to show that golf is just as much of a woman's game these days as well. Anyways, it's easy to tell that Sarah and Mark are identical consumers, just different genders and are at different life stages. Both have the traditional view on golf deeply ingrained in them, so much so that they're proud of the class divide. Obviously, they're on the high-class side of the spectrum and the power that comes with that is what's fueling their pride. Given that many high-profile golf brands have great relationships with consumers like Sarah and Mark, it will be hard to persuade customers like them. Moving on, Justin is the perfect example of the "average" golfer. He definitely doesn't belong to a country club, but has a decent set of sticks. He's aware of the problem that the stereotype brings to the game, and would definitely be for a cheaper alternative in going about the game. He poses the best question of all the people interviewed: "How are you going to be able to afford to make such a product while still having a good profit margin?" I can't directly answer this question right now as there is so much that goes into it. However, that will be the biggest challenge in order for this opportunity to become a reality. Tessa and Justin are identical consumers(in terms of their viewpoints), and she actually poses the same question as Justin, just in her own words. Finally, Jack is the perfect example of a "true novice." He is generally unaware of the "golf culture,"(unlike Tessa) and only knows that their is a "high-class mentality" associated with the game. These are the kind of customers that would need to be targeted the most for this opportunity to work. Getting enough people without any pre-conceived notions about the game on board a business plan like this will only strengthen the movement towards golf equity for all.
2. "Who, What, Why"
-For Who?- Individuals who have an interest in the game of golf, but are being "crowded out" by the established, wealthy consumers of golf who clearly show a sense of pride in the game's association with class and power.
For What?- To eliminate or at least reduce the game's stereotype of only rich people being able to play the game. This has been greatly reduced in the last couple decades, however more work still needs to be done.
Why?- So that everyone can experience the wonderful game of golf, as well as all the life-lessons that come with advancing in the game. Golf should be enjoyed by everyone, regardless of their background/demographics.
3. Hypothesis- To provide custom fit golf equipment for novices of the game at a fraction of the price as any competitors custom fit equipment.
-I would say only the people in my current "who" have this need. That is, people who want to take up the game but don't feel they can afford it in the long run.
-If this could be successfully implemented, it would without a doubt make a dent in the current stereotype surrounding golf.
-Some people may already be golfers, and just want quality, custom-fit equipment at a lower price. While this is good and well, for now I would like to solely focus on novices. This "why" can be tackled once the hypothesis holds true/becomes successful.
4. Interviews- I will try my best to cover the "general range" of golfers/people interested in golf to better assess the validity of my opportunity hypothesis.
1. Mark:
-Mark, give me a brief background of your experience with golf
A: I've been playing since I was 15, and now I'm 40. So I'm no novice! I have a 5 handicap.
-How much money do you make a year?
A: Usually between $200,000-$250,000.
-Do you feel that golf should be made more widely available to other types of consumers?
A: Why yes, I think that would be good. How are they going to afford it though?
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: Yes. Golf is commonly associated with upper-class. To be honest with you, I like the aristocracy that surrounds the game. It makes me feel truly elite when I have people put my bag in my cart for me, and calling me "Sir" in every conversation, etc...
-So you'd rather enjoy this aspect of the game, and let other people who might not be as financially well off as you miss out on what really matters about the game of golf?
-No comment. When can I leave?
2. Justin:
-Justin, give me a brief background of your experience with golf.
A: I've been playing for about ten years. I'd say I'm an intermediate player, since I can't play every weekend.
-How much money do you make a year?
A: About $80,000.
-Do you feel that golf should be made more widely available to other types of consumers?
A: Of course. It's pretty apparent that golf companies today are biased with who they market to.
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: Without a doubt. It's what I alluded to in your last question, and that is that the golf industry is very dependent on it's high class consumers; both for profit and stereotypical image reasons... wait did I just say stereotype?
-What would you think about a cutting-edge golf equipment company that focuses on marketing to people who can't afford traditional golf equipment/beginners? Custom-fitting options would be available as well.
A: That sounds like it would be fantastic. Could very well eliminate a lot of notions about the game. However, how are you going to be able to afford to make such a product while still having a good profit margin? (Good question Justin. We'll get to that a little later...)
3. Sarah:
-Sarah, give me a brief background of your experience with golf.
A: I'm currently 19, and play golf in college. So I'm no beginner.
-How much money do you make in a year?
A: I don't make any money. I use whatever is on my dad's credit card.
-Do you have goals of playing on the LPGA tour?
A: Of course. However, it's very tough to get a spot to play there, and I don't know if I'll ever be quite good enough to be a consistent tour player. We'll see what happens.
-Do you feel that golf should be made more widely available to other types of consumers?
A: Yes, but I feel like golf is so strongly associated with wealth that it will never happen.
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: Obviously. As I just stated, it has a stereotype of only rich people being able to play.
-What would you think about a cutting-edge golf equipment company that focuses on marketing to people who can't afford traditional golf equipment/beginners? Custom-fitting options would be available as well.
A: I mean that sounds great and all, but I don't think it would be able to compete with the like's of Callaway and Titleist for long...
4. Tessa:
-Tessa, give me a brief background of your experience with golf.
A: I am currently 32 years old and have never played.
-How much money do you make in a year?
A: My husband and I combined make about $80,000. We have two kids as well.
-Does you husband play golf?
A: No. I'm the only one currently interested in taking it up.
-Do you feel that golf should be made more widely available to other types of consumers?
A: Absolutely. Especially for middle-class people like me who can't afford to currently play on a regular basis.
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: Golf is a game that is strongly associated with high-class and wealth. Through the years, that is what has created the stereotype. However, there is definitely a growing movement to try and "de-gentrify" the game, so to speak.
-What would you think about a cutting-edge golf equipment company that focuses on marketing to people who can't afford traditional golf equipment/beginners? Custom-fitting options would be available as well.
A: That sounds amazing! Obviously there are some big business-related questions to tackle there in order for it to be successful. However, that sounds like a big step in the right direction if change is really going to happen.
5. Jack:
-Jack, give me a brief background of your experience with golf.
A: I'm currently 21 and am a college student. I've messed around with my buddies on the course here and there but I've never actually taken a lesson or really tried to learn the game.
-How much money do you make in a year?
A: I'm in college, what do you think? I'll give you a hint: not enough.
-Do you feel that golf should be made more widely available to other types of consumers?
A: It definitely seems like it should. I'm sick of seeing a bunch of old men who drive Cadillac's every time I go to the course.
-Do you feel that there is a stereotype that surrounds the game of golf? If so, what is it?
A: It definitely has this "high class mentality" associated with it so I guess that would be the stereotype.
-What would you think about a cutting-edge golf equipment company that focuses on marketing to people who can't afford traditional golf equipment/beginners? Custom-fitting options would be available as well.
A: That sounds awesome. I'd definitely buy clubs like that. I feel like that would be hard to make a reality, but by all means go for it!
Summary: As you can see, I covered a wide array of current golfers as well as people who have minimal to no experience with the sport. I purposefully incorporated both genders into my interviews to show that golf is just as much of a woman's game these days as well. Anyways, it's easy to tell that Sarah and Mark are identical consumers, just different genders and are at different life stages. Both have the traditional view on golf deeply ingrained in them, so much so that they're proud of the class divide. Obviously, they're on the high-class side of the spectrum and the power that comes with that is what's fueling their pride. Given that many high-profile golf brands have great relationships with consumers like Sarah and Mark, it will be hard to persuade customers like them. Moving on, Justin is the perfect example of the "average" golfer. He definitely doesn't belong to a country club, but has a decent set of sticks. He's aware of the problem that the stereotype brings to the game, and would definitely be for a cheaper alternative in going about the game. He poses the best question of all the people interviewed: "How are you going to be able to afford to make such a product while still having a good profit margin?" I can't directly answer this question right now as there is so much that goes into it. However, that will be the biggest challenge in order for this opportunity to become a reality. Tessa and Justin are identical consumers(in terms of their viewpoints), and she actually poses the same question as Justin, just in her own words. Finally, Jack is the perfect example of a "true novice." He is generally unaware of the "golf culture,"(unlike Tessa) and only knows that their is a "high-class mentality" associated with the game. These are the kind of customers that would need to be targeted the most for this opportunity to work. Getting enough people without any pre-conceived notions about the game on board a business plan like this will only strengthen the movement towards golf equity for all.
Subscribe to:
Comments (Atom)