Marketing Analysis Of Basketballs At Brooklyn Retail Store

Marketing Analysisbasketballs At Brooklyn Retail Storeproduct Descript

Marketing Analysis basketballs At Brooklyn Retail Store product descriptions Basketball 1 WILSON COURTSIDE BROOKLYN NETS OUTDOOR RUBBER BASKETBALL Show off your love for the Brooklyn Nets with this official Nets branded basketball. This ball is constructed from rubber for maximum bounce, making it ideal for street ball. It has an exclusive dual-density cover for a soft, cushioned feel with wrap-around channels designed for outdoor use. The ball measures 29.5 inches and is slightly lighter than an official NBA ball. Basketball 2 SPALDING INDOOR/OUTDOOR BASKETBALL Built using a composite leather cover, the Spalding official-size NBA basketball looks and feels like an official NBA ball. The ball also includes a foam-backed design with full ball pebbling, helping it stand up to the challenge of competitive play while maintaining a soft, tacky feel. Best of all, the ball is designed for use both indoor and outdoor use, so you can bring it to the YMCA or the playground. Basketball 3 SPALDING OFFICIAL NBA BASKETBALL Look and feel like a pro with this NBA official game ball. This is the exact same ball used in NBA games night after night, complete with the NBA log and twitter handle. It has a full grain horween leather cover, for superior texture and feel. Designed for indoor use only. Wholesale Cost: $12.00 Wholesale Cost: $25.00 Wholesale Cost: $89.99 CUSTOMER PROFILE · Target customer age: 15-35 years · 70% male · Median household income of $55,000 · 90% of customers live within a 5 mile radius · 80% of customers actively participate in sports; of those, 50% play basketball at least once a week · There is a YMCA one block away with an indoor basketball court; many customers are members · There are 14 outdoor basketball courts within a 10 mile radius of the store; many customers play in pickup games regularly · 40% of customers consider themselves “strong supporters” of the Brooklyn Nets POTENTIAL BUYER SURVEY Target Customers ( %) STRONGLY DISAGREE DISAGREE NEITHER AGREE NOR DISAGREE AGREE STRONGLY AGREE I value convenience over being able to touch and feel products before purchasing When I shop, I usually know exactly the product I want I don’t like to wait for a product when I decide I need it I like to investigate numerous options prior to purchasing I prefer to see, touch and test a product prior to purchasing I typically remain attached to one product versus shopping for alternatives POTENTIAL PROMOTIONAL OFFERS Promotion 1 Promotion 2 Promotion 3 Designed by Bedneyimages - Freepik.com Designed by Harryarts - Freepik.com PRICING OPTIONS Pricing Mix 1 WILSON COURTSIDE BROOKLYN NETS OUTDOOR RUBBER BASKETBALL $29.99 SPALDING INDOOR/OUTDOOR BASKETBALL $29.99 SPALDING OFFICIAL NBA BASKETBALL $89.99 Pricing Mix 2 WILSON COURTSIDE BROOKLYN NETS OUTDOOR RUBBER BASKETBALL $19.99 SPALDING INDOOR/OUTDOOR BASKETBALL $39.99 SPALDING OFFICIAL NBA BASKETBALL $129.99 Pricing Mix 3 WILSON COURTSIDE BROOKLYN NETS OUTDOOR RUBBER BASKETBALL $9.99 SPALDING INDOOR/OUTDOOR BASKETBALL $44.99 SPALDING OFFICIAL NBA BASKETBALL $179.99 BRAND VISION: WILSON STREET Brand Component Description PURPOSE Our vision is to be the leading brand for outdoor, street ball enthusiasts by providing basketballs specifically designed to meet their needs. DEMOGRAPHIC 14-25, male CHARACTER Passion, authenticity, grittiness, spontaneity ESSENCE By players, for players REASON TO BELIEVE Most brands design basketballs for indoor and light outdoor use. Few brands have designed basketballs around the outdoor, street ball culture embodied in many American cities and emulated across the country. Brand Direction 1 REC LEAGUE LET’S BALL. Brand Direction 2 RUCKER PARK WE GOT NEXT. Rec League represents the wide array of informal basketball cultures and captures the essence of impromptu basketball games all across America. Inspired by the famous court in Harlem, Rucker Park embodies the iconic culture of pick-up games and their influence on basketball culture. Designed by Patrickss - Freepik.com Designed by Freepik 2 3 ENGR 112 HW#5 NAME________________________ Turn in a copy of the spreadsheet used to make the graph and a word document with the answers to the questions and the graphs made in excel pasted into the document. 1. Your company has invented a new solar panel that is far superior to current materials. A new facility and manufacturing line will cost $7.5 Million. A contract is negotiated with a materials supplier to provide all of the raw material necessary for $27 per panel. Labor and overhead adds another $15 per panel. The panels will be sold for $90 each. · Create a proper plot of the estimated Revenue and Cost in Excel to be turned in. Make the graph with the number of units on the X-Axis. · Make sure to label the X and Y axis correctly and label the graph. · Sketch a breakeven chart for this scenario on the graph, assuming you plan to manufacture a total of one million Panels. · How many panels must the company make and sell to breakeven? Check your answer mathematically and round up to the nearest number of panels sold. · How many panels must be manufactured and sold to make a profit of $10,000,000? Check your answer mathematically and round up to the nearest number of panels sold. 2. In many engineering uses, the value of “ g, the acceleration due to gravity, is taken as a constant. However, g is actually dependent upon the distance from the center of the Earth. A more accurate expression for g is: Here, g0 is the acceleration of gravity at the surface of the Earth, A is the altitude, and Re is the radius of the Earth, approximately 6,380 kilometers. Assume g0 = 9.8 meters per second squared. What is the value of g at an altitude of 20 miles in units of meters per second squared? 3. The space shuttle fleet was designed with two booster stages. If the first stage provides a thrust of 5.25 Mega-newtons and the space shuttle has a mass of 4,470,000 pound-mass, what is the acceleration of the spacecraft in miles per hour squared? 4. The weight of a can of soda on the moon (where the acceleration of gravity is 1.6 meters per second squared) is 0.6 newtons. What is the mass of the can of soda on the Earth in units of kilograms? 5. An object has a weight of 120 pound-force [lbf] on the Moon, where gravity is 1.62 [m/s^2]. Find the mass of the object in units of pound-mass [lbm] on Earth, where gravity is 9.8 [m/s^2]. What is the weight of the object on Earth in newtons? 6. Which of the following plastics has the highest melting temperature? You must prove your answer for credit! a) Acrylic at 150 degrees Fahrenheit. b) Polyethylene terephthalate (PET) at 423 kelvins. c) High-density polyethylene (HDPE) at 710 degrees Rankine. 7. The tiles on the space shuttle are constructed to withstand a temperature of 1,950 kelvins. What is the temperature in units of degrees Fahrenheit, degrees Celsius, and degrees Rankine? Show your work. 8. Using the equations given for temperature conversion, derive an equation to convert directly from Kelvin to Fahrenheit and directly from Rankin to Kelvin. [°F] = 1.8 * [°C] + 32 [K] = [°C] + 273 [°R] = [°F] + 460 NAME: INSTRUCTOR: DATE: Assignment 3 MARKETING – MARKETING Manager Analysis Due Date: Week 7 Note: While representative of possible situations faced by the Brooklyn Nets, all scenarios in this assignment are fictional. Real Business For a large discount retail store like Target and Walmart, it can be difficult to get the marketing mix just right for a given product. There are so many products in the store fighting for the attention of customers. There is also the challenge of helping the suppliers of each product maximize their profits while making sure the store is making money. With so many things to consider, working in marketing for such a large business can be a challenge. Your Role This week, you’ll be acting as a Marketing Manager in the sporting goods section. What Is a MARKETING Manager? Marketing Managers are responsible for developing, implementing and executing marketing plans, either for an entire organization or for particular categories or products within the organization, in order to attract potential customers and keep existing ones. Their day-to-day tasks include managing and coordinating marketing and creative staff, leading market research to improve existing products and services, working with advertising agencies, and determining the best way to get products in front of customers. As a marketing manager for a discount retail store in Brooklyn, you have been asked to evaluate a marketing plan for basketballs to ensure that the 4 P’s of marketing are being applied well. Using your knowledge of the 4 P’s and the best approach to generating sales, you’ll take a look at a number of marketing recommendations and choose the approach that you believe will sell the most products. Instructions Step 1: Product Life Cycle In the Marketing Analysis Presentation provided by your marketing team, you’ll see three different basketballs that need to be included in the product display on Slide 2. Each product has unique features. · Based on the information provided about the customers that shop at the store location on Slide 3, choose the basketball that you think will sell the most. Underline your selection: Basketball 1 Basketball 2 Basketball 3 Explain the rationale for your decision. Step 2: PLACE On Slide 4 of the Marketing Analysis Presentation, you’ll see the results of a survey that asked potential buyers about where they are most likely to purchase these products. On Slide 4 of the Marketing Analysis Presentation, you’ll see the results of a survey that asked potential buyers about where they are most likely to purchase these products. Underline your selection: Traditional Stores Online Explain the rationale for your decision. Explain the rationale for your decision. Step 3: PROMOTION Slide 5 of the Marketing Analysis Presentation shows three recommended advertisements, including a special deal promotion, for the product that is expected to sell the best. Based on the information provided about the customers that shop at this store location on Slide 3, determine which promotional activity will sell the most product at this particular store. Underline your selection: Promotion 1 Promotion 2 Promotion 3 Explain the rationale for your decision. Step 4: PRICE Look at the pricing options available for each of the three products together on Slide 6. Based on your knowledge of the Pricing Strategies discussed on pages in the textbook, choose the option that has the best pricing mix for all three products. Refer to the customer information on Slide 3, if needed. Underline your selection: Pricing Mix 1 Pricing Mix 2 Pricing Mix 3 Explain the rationale for your decision. Note: You should complete Steps 5 & 6 after reading the material in Week 7. Step 5: BRAND & SALES PITCH The company that makes one of the basketballs is looking to rebrand the product. They have asked for your input on possible brands ideas. First, read the Brand Vision statement which summarizes the goal for the new brand. Then, look at the logo, name, and tagline recommendations. Which of the two brand directions do you think best meets the goals of the brand vision? Underline your selection: Brand Direction 1 Brand Direction 2 Please support your decisions. Second, write a 2-3 sentence sales pitch that you would use to try to convince someone to purchase this product. Step 6: MARKET SEGMENTATION The marketing plan for the basketballs at the Brooklyn store has been in place now for four months, and the marketing team has assembled a report reviewing sales data and customer feedback for the last quarter’s basketball sales. Overall, the results are lower than you expected and you are concerned that your marketing and creative staff have not properly segmented your target customers. Remember, like many products in the marketplace, the basketball’s marketing campaigns must target two different groups of customers: (1) adults who purchase the item as a gift and, therefore, do not actually use the product; and (2) adults and teenagers who purchase the item for their own use and enjoyment. Both groups have different reasons and expectations surrounding the item in question, and those reasons and expectations will have significant impacts on the buyers’ purchasing decisions. · Review the five customer segments detailed on pages of your textbook: Behavioral, Sociographic, Psychographic, Geographic and Demographic. · Select one focus area of each segment that you feel is most relevant to the sale of basketballs at this store location. · Keeping in mind the 4 P’s, write 1-2 questions for each focus area that will guide your staff as they investigate these aspects of your campaign. Example: · Segment: Geographic · Focus Area: Neighborhood · Questions: What combination of marketing and media channels did we use to reach current and potential customers? How are we gathering information on where current customers live who purchased a basketball?

Paper For Above instruction

The retail environment in Brooklyn presents a unique opportunity for marketing basketballs, especially considering the demographic and consumer behavior insights gathered from the local customer base. To maximize sales and ensure effective targeting, it is essential to analyze the product offerings, audience preferences, and strategic marketing mixes based on the 4 P’s: Product, Place, Promotion, and Price. In this paper, I will evaluate the most suitable basketball product for the store, the optimal distribution channel, effective promotional strategies, and appropriate pricing models. Additionally, I will explore rebranding initiatives and refine market segmentation to enhance engagement and sales performance.

Product Selection Based on Customer Profile

The three basketballs presented cater to different segments of the market. Basketball 1, Wilson Courtside Brooklyn Nets Outdoor Rubber Basketball, appeals to the casual street basketball enthusiast who values durability and brand allegiance. Its rubber construction and outdoor suitability align well with the local outdoor courts and active community—80% of whom play basketball weekly and many support the Nets. Basketball 2, Spalding Indoor/Outdoor Basketball, offers a versatile composite leather option, appealing to those who look for a balanced indoor-outdoor game experience, especially if they participate in organized and casual play. Basketball 3, Spalding Official NBA Basketball, is catered towards professional or serious players preferring indoor play and authentic NBA feel.

Considering the customer profile—primarily younger males, active in sports, including pickup games at outdoor courts and indoor YMCA facilities—the basketball most likely to sell best is Basketball 1. Its outdoor durability, brand recognition, and affordability make it a compelling choice for the majority demographic, which includes players and supporters of street basketball and Brooklyn Nets fans.

Distribution Channel (Place)

The survey results indicate that most customers prefer purchasing at traditional stores rather than online, implying that visual and tactile engagement influences buying decisions. Given the proximity to outdoor courts, a physical retail presence complemented by strategic displays would attract impulse buys and allow customers to assess product quality firsthand. The store’s location near active basketball communities suggests that traditional retail channels will be more effective than online sales in converting walk-in traffic into purchases.

Promotion Strategy

The promotional activity most suited to the target market local to Brooklyn’s active basketball scene would be Promotion 2, which presumably emphasizes local culture and community engagement—a critical factor in street basketball culture. Promotional efforts that tie into local identity, such as sponsoring pickup games or events at nearby courts like Rucker Park, would resonate with the core customer base and foster brand loyalty. Personalized, community-centric promotions often yield higher engagement and sales in sports retail contexts.

Pricing Strategy

Analyzing the provided options, Pricing Mix 2 strikes a balance between affordability and perceived value, positioning the Wilson courtside basketball at $19.99, which is competitive given the brand and outdoor durability. For indoor/outdoor options, a price point of $39.99 offers value for versatile use, while the NBA official ball at $129.99 targets serious enthusiasts willing to invest in authentic gear. This mix caters to different customer segments—casual players, recreational users, and enthusiasts—maximizing coverage across the market spectrum.

Brand Rebranding and Sales Pitch

The rebranding effort should focus on emphasizing the culture of street basketball, sharp branding, and authenticity to meet the brand vision of being the leading outdoor streetball brand. Between the two options, Brand Direction 1 (“REC LEAGUE LET’S BALL”) aligns better with the request to celebrate grassroots and informal basketball culture. Its focus on inclusivity and spontaneous play resonates with the target demographic and local street scene in Brooklyn.

A compelling sales pitch might be: "Experience the game like a pro with our Wilson Courtside Brooklyn Nets basketball—built for durability, designed for street style, and perfect for your next pickup game in Brooklyn's vibrant courts." This slogan combines performance, local pride, and community identity.

Market Segmentation Refinement

Understanding that the customer base consists of two primary segments—gift buyers and personal users—is vital. For gift buyers, messaging should focus on the social and status aspect of owning a reputable brand basketball, emphasizing gift appeal and community relevance. For personal users, the emphasis should be on performance, durability, and style. Demographic segmentation should consider age and gender, while psychographic and behavioral segmentation should explore attitudes towards sports, competitive spirit, and connection to Brooklyn's basketball culture.

Key questions guiding marketing efforts include: “What media channels are most effective in reaching Brooklyn's active outdoor basketball community?” and “How can we tailor promotional content to appeal to both casual recreational players and serious enthusiasts?” These insights will refine the campaign’s focus and ensure a more targeted approach that enhances consumer engagement and increases basketball sales in the Brooklyn area.

Conclusion

Strategic application of the 4 P’s—product, place, promotion, and price—aligned with detailed market segmentation, can significantly boost basketball sales at the Brooklyn retail store. By choosing the appropriate product that matches customer preferences, utilizing effective distribution channels, deploying community-focused promotional activities, and establishing a balanced pricing strategy, the store can strengthen its market position. Furthermore, rebranding efforts grounded in Brooklyn’s street basketball culture can create a distinctive brand identity, fostering loyalty among local consumers. Continuous market