Prince Sports and the Tennis Industry
1. In the 21st century, trends in the environmental forces that work for and work against the success for Prince Sports and the tennis industry are examples such as:
Social forces of the environment include demographic characteristics and the culture of the population (Pg. 62).
a. The social force works for Prince due to the fact of the increased interest and popularity of tennis. People are attending and watching professional tennis matches and this is leading to more playing the sport.
b. If interest goes down then this can and will work against the success for Prince Sports in their sales and marketing schemes. Their marketing schemes would need to be adjusted in order to pique people's interest.
Economic forces pertain to the income, expenditures, and resources that affect the cost of running a business and household (Pg. 63).
- Macroeconomic conditions is a particular concern since this is an indicator of the performance of the economy such as gross domestic product, unemployment, and price changes (Pg. 63).
- Microeconomic trends is another focal point concerning consumer income since a consumer's ability to buy is related to income, which consists of gross, disposable, and discretionary components (Pg. 63).
a. If economy conditions are good along with consumer income then this is force works quite well for Prince in selling and marketing their product. Especially some of their higher priced range tennis racquets.
b. On the other hand, if neither of these is up then sales are down and Prince needs to somehow make their racquets more affordable or properly market their lower priced racquets to encourage consumer purchase.
Technological forces refer to inventions or innovations from applied science or engineering research (Pg. 65).
a. Focusing on technological forces this works for Prince’s website in marketing their racquets as well as supplying detailed specs on their products which allows consumers to do research and making a decision on the
Social forces of the environment include demographic characteristics and the culture of the population (Pg. 62).
a. The social force works for Prince due to the fact of the increased interest and popularity of tennis. People are attending and watching professional tennis matches and this is leading to more playing the sport.
b. If interest goes down then this can and will work against the success for Prince Sports in their sales and marketing schemes. Their marketing schemes would need to be adjusted in order to pique people's interest.
Economic forces pertain to the income, expenditures, and resources that affect the cost of running a business and household (Pg. 63).
- Macroeconomic conditions is a particular concern since this is an indicator of the performance of the economy such as gross domestic product, unemployment, and price changes (Pg. 63).
- Microeconomic trends is another focal point concerning consumer income since a consumer's ability to buy is related to income, which consists of gross, disposable, and discretionary components (Pg. 63).
a. If economy conditions are good along with consumer income then this is force works quite well for Prince in selling and marketing their product. Especially some of their higher priced range tennis racquets.
b. On the other hand, if neither of these is up then sales are down and Prince needs to somehow make their racquets more affordable or properly market their lower priced racquets to encourage consumer purchase.
Technological forces refer to inventions or innovations from applied science or engineering research (Pg. 65).
a. Focusing on technological forces this works for Prince’s website in marketing their racquets as well as supplying detailed specs on their products which allows consumers to do research and making a decision on the