Tiger woods swot analysis
77Tiger Woods impressions Golf! Hole in One
Swot Analysis
Eldrick Tiger Woods was born December 30, 1975 in Cypress California. He burst onto the golf scene long before 1997 when he joined the PGA Tour. Tiger woods played in Professional tournaments ever since he was sixteen. During his amateur career he set records. Ever since then Woods his achievements to date rank him among the most successful golfers of all time. Currently he holds the Worlds No. 1 spot , he was the highest-paid professional athlete in 2007, having earned an estimated $122 million from winnings and endorsements. Tiger Woods is truly the worlds most famous golfer if not athlete and is a huge marketing instrument for business.
According to Golf Digest, Tiger Woods has made $769,440,709 from 1996 to 2007 since he officially joined the PGA Tour. The golf magazine predicts that by 2010, Woods will become the world's first athlete to pass one billion dollars in earnings(Davis). Woods is truly a marketing instrument for companies such as Nike and Buick who have endorsed him ever since he burst on the scene.
According to Golf Today tiger first contract was with Nike and was reported to be around $100 million dollar deal for five years. Recently Nike Signed Woods to a ten year 200 million dollar deal. Although he has won numerous tournaments and awards the bulk of the money he has earned has been from endorsements . Nike obviously the main culprit of the endorsements. Nike has done such a great job marketing Woods that, when most people see the Nike sign they instantly link it to Tiger Woods and vice versa.
Tiger Woods himself has been an instrument that Nike has used to sell their Products. Whether it has been clothing ,golf’s balls or other golf accessories. Nike has grossed a large amount of money from using Tiger Woods. The Nike sumo, was one of the most popular drivers ever. Tiger woods had something to do with that, there were numerous commercials with him and the Sumo driver. Another Product pushed by Nike is the Nike One Platinum. Early in his career Woods was criticized for using a Titlist golf ball, with a Nike sign on it. Soon after that Nike creating a ball exclusively for Woods, which was later put on the market. In recent years Nike developed a set of golf clubs called the “Tiger Woods” irons. Obviously because of the name they have been falling of the selves in stores. Nike Designer looks like a genius after developing some of these products but in all reality its because of the number one player in the world Tiger Woods that the products are selling.
Ever since Tiger was introduced to the world of Golf, Nike has marketed him and promoted him with commercials which has also enticed the target market to buy Nike products. Even as one visit’s the Nike website, it could easily be mistaken as Tiger Woods website by the way they advertise the latest equipment. In every commercial Woods has done, he has worn the a the Famous black Nike hat as well as the His red Nike shirt. Nike has by far gained the most recognition for Promoting Woods. No company has capitalized on the appeal of Woods ahs a young African American golfer. Nike has even benefited from other companies commercials and products being promoted because customers instantly link woods with them. Nike has Woods adorned in its gear even when he's pitching products from other sponsors including American Express, Accenture, General Motors' Buick, and Electronic Arts. With each ad Woods is always wearing that the Nike Swoosh in full view, so that there is no mistake in identity. "I suspect that the nature of the relationship is such that he's obligated to wear Nike in any public appearance," says Gary Singer, chief strategy officer at Interbrand, a branding consultancy. "Tiger is so closely associated with Nike that whether you see other brands or not, you think of Nike."(DiCarlo, Lisa) Commercials have been the primary promotion instrument that Nike has used.
Nike Products are sold everywhere. Every Sporting good store most likely carries Nike products. Although most of their products are on the pricey side, a sporting store should and probably carries Nike products. All golf stores sell Nike products such as Nevada Bobs, and Roger Dunn to name a few. The biggest store available to everyone is on the internet. Nike stores on the internet generated millions if not billions of dollars. The internet makes it easy for the customer to easily buy products made by Nike. Access to their products is always available. Not only is it available but it is also available all over the world anywhere and anytime.
Nike Products promoted by tiger Woods are really expensive. The Sumo driver Disgusted earlier runs roughly around four hundred and Sixty dollars. A Set of clubs run between nine hundred dollars and thirteen hundred dollars. These Products that Nike Make and tiger Promotes are targeted at the middle class and upper class of individuals, Nike has tried to include all classes of people, not by lowering their prices but by including Diversity into the game of golf. For centuries has been mainly a rich white mans game and had lacked diversity in the races. When Tiger Woods came on to the scene, Nike used him as a race barrier breaker. Now when you go to golf courses you can find individuals of all races, colors and cultures. Price although it is an issue when it comes to Nike equipment, what Tiger has done he has made is respectable gentlemen’s game.
Tiger is not restricted to the golf Market. Woods has many strengths on and off the course. On the course his mental game is much more superior to any other golfer on this planet. Woods biggest strength is probably his mind. His mind set as a player, and a businessman is stronger than anyone else. His race and ethnicity is also probably a strength, it gives and allows him to have a wider market. It seems like the ethical issue that seemed like a weakness has turned into a strength for Woods. Another strength Woods and Nike have is an abundance of money to do what they need to do the seem to constantly advertise to the a younger demographic, which in the end will produce more loyal customers. have the most commercials out on the golf market, every other commercials is a Tiger woods Nike commercial.
Weaknesses are far and between for Nike and Woods, if there are any it would be ability and lack of creativeness with their designers. Before Tiger Woods, Nike Golf was nonexistent. Nike was basically a basketball company with their then instrument Michael Jordan. Nike was not even on the map in the golf world and was considered to be an inferior product. Nike has basically copied the designs of other companies such as Titlist and Cleveland in their advancements in golf technology. If it was not for Tiger Woods ,Nike products would still be still be on sale at Wal-Mart.
The opportunities for Nike and Woods are endless. They have the opportunity to widen and broaden their borders to the whole world. Nike's 20,700 employees generated almost $8.8 billion in revenue worldwide. Woods had a huge part of those staggering numbers.
The threats to Nike and Woods probably come Externally. As Woods ages and time Progresses Nike will loose some of its pull on its faithful Tiger Woods customers. In economy, the biggest threat for Nike is if the economy goes into recession. If recession occurs, Nike's growth in sales, marketing and promotions will be affected. Other than that threats from other companies are there. These threats include the lack and ability to produce and innovative products that their customers can buy. Nike products are too expensive for the common customer. Therefore those regular Joes are at a disadvantage and they go buy the less expensive brand.
Nike and Woods have built an almost unstoppable partnership. The amount of money they are generating yearly and since woods started playing golf is unimaginable. I believe this will continue for the next ten years or so. Nike has shown passion for their company, products, and athletes. They seem to be determined to provide consumers with comfort and assurance. Nike uses 1.7 billion dollars a year on advertising each year. They also find ways to be innovative and creative when it comes to advertising. Nike has seems to have a mission statement and goal at hand.. They want to be the best. “They adhere to their five brand principles namely: inspire, innovate, focus, connect, and care.”(Cuzoin)
Tiger Woods Commercial
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David Braham says:
5 months ago
Nice article. Tiger is an amazing asset to the game, there is no doubt!