Analyzing Market Segment Opportunities Essay Example | Topics and Well Written Essays - 750 words

Analyzing Market Segment Opportunities - Essay Example Recreational Tennis Players play tennis for fun with their families and friends, say at clubhouses, at homes, at schools, and other private tennis instillations. Therefore, these players do not have the ability to go for the most professional racquets for playing the game. Most of them merely settle for any racquet that can enable them play and enjoy the game. However, other recreational players are staunch lovers of the game. They do not play tennis professionally because they have other priorities in their lives, e.g. as professionals in other fields such as medicine, business and finance (Lipsey, 2006). Nevertheless, these players put all their efforts during free times to play tennis both professionally, i.e. in small local tennis leagues or with friends, and for fun. Consequently, they are more particular about the racquets they while playing tennis. In this case, they are always willing and able to part with a significant amount of their income to purchase a good tennis racquet . Prince Incorporation can reach out to these recreational players through social media sites such as Facebook and Twitter. Social media sites are the most common place where these players converge to read news about their favorite tennis players and their performance in various league games. They prefer emulating their ‘tennis idols’ by using similar racquets as those used by professional players (Babin & Zikmund, 2012). (b) Junior players Junior tennis players are those players who are still in colleges and high schools. These youngsters have a passion of playing tennis in future whether professionally or otherwise. They have tennis idols who are professional tennis players whom they look up to as their role models and hope to be like them when they grow up. This is the stage where most youngsters develop their talents in playing tennis. However, the only hindrance for these players in exploiting their passion for tennis is the fact that they cannot afford to purchase the tennis racquets they fancy or wish they could have. This is because most of them cannot accumulate enough savings from their pocket money to purchase these racquets. In addition, their parents or guardians might not be willing to part with significant amount of money to buy them a professional racquet, especially if they are not that talented (Stevens, 2012). As such, professional racquet companies such as Prince Incorporation can reach out to this segment of tennis players either through their parents or through their schools and colleges. They can collaborate with schools as well as other learning institutions to sponsor inter-school tennis competitions, or set up promotions for young tennis lovers within learning institutions. This will enable them reach out to a large number of students, i.e. the junior players, who will get to know of the existing racquets on offer by the company and how much they cost. In fact, they may even get to test some of these racquets during these promotional drives. Apart from schools and learning institutions, these companies can also market their products through established companies where parents and guardians of these children work, or spent their social time. In addition, broadcast media also provides a lucrative platform for these companies to reach out to their clients (Lipsey, 2006). What might Prince do to help it gain distribution and sales in (a) Mass merchandisers like Target and Wal-Mart Mass merchandisers of tennis racquets such as Wal-Mart and Target already have a brand name in which they trade in. This brand name enables these stores to market their pro