talon sports company

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its management project in which i had to describe the things about the company called TALON sports. it is situated in pakistan and its popular for creating and exporting sports goods.

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RESEARCH INTRODUCTION As people these days are concerned about their fitness. So, nowadays people are engaging themselves into sports and fitness activities. Trend is changing as people used to pass their time by doing household work in the past and now people started falling towards sports and fitness activities. Due to this change in trend, the sports and fitness apparel stores started earning more profits as they used to before the trend. So, in this report we are going to research as consultants to an investor who wants to invest money into these apparel stores. Our ultimate agenda for this report will be to research the sports and fitness apparel market globally, its trends, players in this market, growth in this industry. SCOPE OF SPORTS AND FITNESS APPAREL IN GLOBALMARKET With theincrease in the awareness of the importance of sports and fitness in the life routine. People are becoming more conscious towards their health and sports and fitness companies have seen a tremendous growth in their sales or revenue of different sports and fitness wears. Nowadays the most demanding sports are Football, Swimming, Aerobics and the fitness activities such as Yoga, Gym and so on. Some of the highest grosser in this industry are Nike, Adidas, New Balance, Puma etc. Scope of this industry is increasing day by day and will bloom in the future too. Not only these companies but some companies have come up as winners and are giving competition to these established brands. Each brand has build up their own strategies it might be growth strategy or market strategy. Not only the developed countries but developing or emerging countries in Asia such as India are viewed as having a great market for the sports and fitness apparel and it is estimated that India will become the highest grossing market for these products. In this ongoing growth phase,the industry is able to see many product launches, partnerships which will help further in growing this market. E-commerce will also play a significant role towards increasing the sales for these stores. Most of the brands have already started selling their products through some of these online markets such as Amazon. MARKETING MIX A marketing mix is a tool used to determine the best way to market a product or service. It is a combination of broad factors that address different aspects of marketing. The best-known and most basic marketing mix is known as the four Ps of marketing: product, price, place, and promotion(Gilstein& Julia. posted by Salem press Encyclopedia, 2018. 2p. retrieved on September 21,2019 from conestoga college library). Marketing Mix includes four elements or consists of 4Ps-: 1. Product- Product is a commodity that are presented to the customers. In this case, there are many products that are related to sports and fitness. 2. Price- Price is the rate at which a customer agrees to buy a product. Many companies make different strategies such as lower cost strategy which is used by companies to a ...

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Running Head: MARKETING 1 MARKETING 14 Principles of Marketing Institutional Affiliation Student Name Introduction Kevin Plank, a former Fork Union Military Academy football player, established Under Armour in 1995 upon noticing that the cotton shirts of his football team at the University of Maryland were always soaked in sweat and noted better items for his team (Kraft, P., & Lee, J. W. 2009). He wanted to create shirts that were always cool even in the hottest of weather conditions. Plank went ahead and designed his prototype for his team, which attracted much attention from other collegiate teams. This prompted the expansion and growth of Under Amour products hence resulted in the opening up of its headquarters at Maryland-Baltimore. Nonetheless, despite its success, Under Amour continues facing stiff competition from similar sports retail brands. As a relatively new organization, Under Amour faces a high threat from competitors, yet it still has the opportunity to incorporate creative and innovative ideas (Kraft & Lee, 2009). Five Environmental Forces Environmental factors form part of a component of the PESTLE analysis tool, which gathers information regarding the firm’s circumstances. The environmental factors constitute usually impact various essential aspects of the business (Lam et al., 2019). A detailed description of how environmental factors affect Under Amour is outlined below. Social factors Under Amour is influenced by any alternations, whether positive or negative, in social factors in various circumstances. The management should examine the people's lifestyle in a given locality to determine whether they exercise regularly or not. This would determine if the company is viable to widen or restrict market share in the region. Economic Factors A business organization such as Under Amour is affected when significant trends in the economy might alleviate or hinder the organization attaining the set goals and objectives. The management must examine consumer behavior, interest rate adjustments, banking behavior, inflation, as well as overall economic indicators. When the economic factors are positive, the business growth would be significant as well. Technological Under Amour’s management should consider the changes brought about by the technology. It is because technology is changing the way of doing things in any organizational setting. Organizations that fail to embrace technology offer services and goods that are less competitive in the market hence low market share. Competitive Business growth and success are dependent on how organizations are capable of competing in the market. Under Amour’s management must ensure substantial financial resources are budgeted to ensure that the organization conducts aggressive marketing campaigns for brand awareness and recognition to the potential market. Regulatory The laws and regulations are enacted by the federal and state government to regulate the way bu.

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