CHAPTER ONE: INTRODUCTION
1.1 Background
Keen entrepreneurs with their passion for sports generally have a wish to own or manage the sports business. Sports business management is usually based on the market of the sports equipment. The global sports equipment market is observing the significant growth over the last decades. The increased ratio of the sports participation activities, rapid growth in knowledge of the consumers based on fitness, and the appearance of e-business are few main reasons that leaded to the dynamic growth regarding the sports equipment market. The restraining factors for the growth of the sports equipment market are the increase in availability of these products and their respective rise in prices (Miller, 2000).
1.1.1 Sports
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Since the string of the tennis is one of the crucial part and the market of tennis string regarding the tennis brands that are using the quality material in their products. This research also emphasises on the factors that are involved in the regulation of this market (Rosner & Shropshire, 2011). Not only research also looks into the factors responsible for the rapid growth in the economy of this market.
1.5 Research Objectives
For achieving the aims of the research some of the objectives are set to be achieved, that involves that the study will also consider the identification of tennis brands providing best quality string. It will evaluating the procedure involved in the marketing of this equipment, the manufacturing process of the tennis string is observed, the difference has been made between the most famous brands making tennis string and selecting the one among them with the best quality
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For this purpose one of the most famous sports equipment that is tennis and its string is considered. Thus, the research has been organized in systematic way to reduce the conflict in understanding the rationale of the research and the outcomes gathered at the end.
1.7.1 Chapter One
The first chapter of the dissertation grounds on the rationale of the study over the market of sports equipment for which the tennis string market is considered as the medium to be observed.
1.7.2 Chapter Two
Second chapter is completely based on the literature on this context. This chapter includes all the relevant literature that has been conducted over the sports business management and the market of the sports equipment. Further, it discusses the market and the trend of the tennis string.
1.7.3 Chapter Three
Third chapter includes the methodology part, which elaborates the conducted research’s design, sources that has been used for the collection of the data during the study. It focuses on the approaches and the tools used for the data analysis.
1.7.4 Chapter
Some environmental forces have helped Price and others have hindered the progress. The social force is one of the trends that have worked for prince. There has been a growth in tennis players which gives Prince more opportunity to distribute their rackets. As one data shown “A recent study by the sporting goods manufacturers confirms this point: Tennis participation in the U.S. was up by 43 percent from 2000 to 2008—to the fastest growing traditional individual sport in the country.” This data has also
The sporting goods industry has a long history from the mid- 1800s until the early 1980s. Since then public ownership led to the expansion of footwear and apparel products in an exploding marketplace. This allowed the top 20 firms to have sales of at least $1 billion. (Lipsey, 2006) After 1980s, sports equipment manufacturing is estimated above a $70 billion industry and is continuously growing worldwide (statista.com, 2014). The production of sports equipment is one of the biggest and most profitable industries nowadays and it gathers all the attention of big brands with powerful marketing techniques which compete in global scale.
In addition, they created an O3 and the EX03 technology which delivers faster racket speed and an increased “sweet spot.” With the participation in the sport gone up 43% in the early part of the 21st Century, this company continues to widely distribute through Walmart, Target, sporting chains, smaller tennis shops and now have entered social media as an attempt to reach the younger consumers. Furthermore, they have invested in a Teaching Pro program, and sponsor many professional tennis players who are role models to many tennis-lovers around the world. However Prince Sports have yet to face the problem of seeing where the market is going and how they are going to continue to innovate in that market.
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