The worldwide golf market is quite quality conscious and golf product users, ie, professional and amateur golfers, hardly ever settle for anything that does not live up to world standards. Therefore, to bring a golf idea or product to a worldwide market successfully, it is important to understand the real needs of golfers as well as a thorough understanding of operations and marketing.
From the simple concept that is it best to keep a customer, than to attempt to sell your product one time to more and more customers. After all, the fundamental success of any business, particularly golf products, depends upon repeat sales. A lot of research, planning, budgeting and well timed, proper execution goes into the successful launch of a golf product on an international level.
Many real-life needs like how to clean a golf ball while on the course may lead to the creation of innovative products. But conceptualizing then launching them and making them readily available to the target audience is a further challenge. From creating an easy-to-remember product name to a dynamic product package followed by marketing the product (with the right approach) play major rods in the success of the product globally. All markets, golf included, all over the world are highly competitive. New golf concepts, ideas and products that come up often find it tough to establish themselves and inventors burn through their start up capital too early. Trim expenses without jeopardizing goals and obtaining and retaining capital has become even more challenging in the current economic situation.
If you have a great product idea, then first of all, get a well qualified and experienced consultant to design the product, unless you are qualified enough to do it yourself. The next step would be to (possibly) apply for a patent or patents to lock up all the alternatives. Then you have to get a prototype and source a domestic or overseas manufacturer. Deciding upon the packaging is the next most important thing as the safety and sale of your product will depend upon it. If you launch a golf product in the market but do not market it very, very well, then it would be like the famous saying goes, "winking at a girl in the dark". Without proper marketing your target market will not even know what your product is about and how it can solve their problems.
Most new golf ideas fail due to lack of capital, experience and basic golf marketing and branding strategy. A start up business should seek help from industry professionals and sometimes consultant companies; but be aware of fees that will be charged – remember spend wisely! Be sure that anyone you take advise from as an in-depth understanding of worldwide golf distribution. Always think globally and not locally, since wealth is accumulated by mass and expedited distribution.
Thorough market and industry research before launching a golf product or idea will ensure its success in the long run. When the customer needs are clearly identified, the pricing, distribution channels and the marketing strategy should be determined. And the would-be entrepreneur should do it after careful market research. A simple rule of thumb to follow is 'for every $ 1 in production cost it adds $ 3 to the retail price'.
Golf business professionals may help new companies or individuals who have invented new golf products to develop an effective business plan for their product suitable for the golf industry, but again be wary of their fees, you can go out of business before you start. Golf business owners or individuals who have already embarked on a golf product business but are able to achieve success due to lack of experience or capital should advise, again by well qualified individuals. Many times licensing your concept or finished product to worldwide golf marketing companies may make the most sense; get a check every month and relax.
So always think long term, do not get used in huge fees for advice, pay attention to packaging, product weight and cube as often forgotten – yet crucial. And most importantly, when you do pull the trigger for distribution, be swift and accurate, since all good products are duplicated and the one who covers more continents sooner generally control market share.
Source by Diane Hofflander