industrypaulsherratt
If we embrace those ideals originally
laid out by E. Jerome McCarthy then it is clear that it is not all about price.
changes and ‘find’ this new business and the ‘place’ where this new business exists. With a continued decline in the sports
independent base and a consolidation of sports multiples, these changes will be fundamental for sports businesses to evolve. It may seem simplistic to view our industry within these basic parameters, however if explored in depth then the answers to all successful business sales and marketing strategies can be embraced under these umbrella terms.
In recent years new P's such as Passionate People, Packaging, Performance, Persona and more have been put forward as being equally
and/or more important than the four terms outlined in this article. However it is clear that whatever your final list of P's, the discipline of reviewing your business in these terms may just help you find the answers you are looking for to help grow your business.
Passionate People This is the ultimate component of marketing
strategy; it’s all about the people. Keeping people at the top of your mind in all your marketing efforts will be instrumental to success. From product development, customer service, accounting and senior management, the people
involved in making the product/service need to know that you are on board with them.
Packaging As ecommerce becomes more important,
where does that leave packaging? The balance between the brand/product message and the opening experience continues to evolve; look at the increase in unboxing product videos on YouTube. The unwrapping of the package has become a vital part of the consumer experience and thus the brands must address this.
Performance Sport at any level has a performance element.
To compete, particularly in niche product areas, product performance is vital and, perhaps more than in other industries, warrants its inclusion in the new P's list for the sports industry.
Persona Product excellence is not enough for a
premium brand. The luxury brand must perform at an experiential level as well.
Conclusion If we embrace those ideals originally laid out
by E. Jerome McCarthy then it is clear that it is not all about price. In fact, to take this to its logical conclusion, if it were back then there would be no place for the likes of Aldi to compete with Waitrose where many of the same lines are sold in both stores. If our buying criteria was just price then Aldi would be the dominant player and Waitrose would not survive. Our emotions, ideals, shopping environments,
moods, peers and so many more factors are the real influencers in the market. Why do artisan butchers and bakers still survive when bread is so much cheaper in the supermarket next door? Why shouldn't independent sports retailers be
able to compete with multiples? Think about what your business is good at –
service, added value, promotions, specialist products and use those key strengths to counter the price argument.
SGBGOLF 21
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44