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.
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