Introduction to Marketing June 20, 2013 Executive Summary and Company Overview: Tailored Golf is a subsidiary company of Tailored-aids Golf Company. Tailored was founded by Gary Adams in 1979 as a small start-up company (Tailored, 2013). Adams had created a single new innovative design, the metalloid. This new metalloid sounded differently and most importantly performed differently. The new design shifted more of the weight to the perimeter, which provided more forgiveness on misfits.
The center of gravity was also lowered, which made it easier to launch the ball in the air. Adams, being the son off professional golfer, wanted his golf clubs to stay true to what golfers perceived as an authentic golf club in looks and feel. Dam’s believed in four principles that his company should follow; provide innovation with authenticity, always be passionate about the game, and pledged to be competitive – to work hard to establish itself and grow (Tailored, 2013).
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Following these principles Tailored has become the leading metalloid carrier for professionals on the major golf tours. In 1997, Tailored transitioned from an independently owned company to a co-brand of Tailored-aids when aids Group purchased the company. Following the acquisition, the company shifted its focus to become the leader in drivers amongst its competitors (aids Group, 2013). Tailored is based in Carlsbad, California, and is a subsidiary of the German based parent company aids Group.
Tailored has its international corporate headquarters located in Millrace, Victoria, Australia. Tailored Performance Labs is located in San Diego, California. Tailored Performance Labs custom fits golf clubs to individual customers by utilizing the latest n motion capture technology to provide customers with “Golf ultimate fitting experience” (Tailored Performance Labs, 2013). Tailored-aids Golf primary objective is “to be the leading performance golf company in the world in terms of sales and profitability. Tailored-aids company combines three of golf most well-known and respected brands: Tailored, aids Golf and Seaworthy. Toolmaker’s mission statement is to continuously develop and commercialism innovative, technologically advanced products while maintaining credibility through high visibility on professional golf tours (aids Group, 2013). Tailored also influences brand equity through the creation and execution of new marketing and retail enterprises, as well as improvements in global distribution to impact long-term growth.
Goals & Objectives: * Maintain status as #1 golf brand on the world’s professional golf tours * Use innovative and performance enhancing designs for new clubs * Keep strong brand recognition * Develop new relationships with retailers in unsaturated markets * Progress Toolmaker’s core objective is to create high performance products for the golf marketplace, with an emphasis on innovation. Maintaining its leadership in the industry is vital to increasing brand exposure and relationships it has developed with its consumers. Toolmaker’s short term goal is to remain profitable and increase its sales.
Toolmaker’s long-term goals rely on sustaining its market leadership in the golf industry. To achieve these goals and objectives Tailored is implementing a plan that coordinates product development, marketing, branding and retail into a global marketing team. Tailored professionals and customer service personnel are located around the world, which help to strengthen brand image by developing legislations with new and emerging golf markets. Tailored will continue to stay true to building its relationships and brand image with smaller retail outlets and locally owned shops where avid and recreational golfers frequent.
Situational Analysis: Strengths Innovation and Design Toolmaker’s fundamental objective is to create the best performing golf products in the marketplace. Tailored makes the best performing products, because of its commitment to innovation and technology. This segment accomplishes its leadership position by introducing at least two major product innovations every 12 to 8 months (aids Group, 2013). Tailored Performance Labs has separated Tailored from its competitors, through the use of customizing clubs for golfers.