advanced theory and practice in sport marketing - Marshalls University

the sport retail outlet; (2) the efficient and effective operating procedures; (3)
efficient product management and pricing; (4) effective communication with
customers/pleasant retail outlet atmosphere; (5) knowledge of sport retail products
and services; and (6) implementation of effective promotional programs.
These elements of a strategic sport retail mix are utilized to help a sport firm
become a destination retailer – one that sport consumers view as unique to the
point of becoming loyal to the company and being willing to go out of their
way to shop there. The largest sport destination retailer is Bass Pro Shops. Bass
Pro Shops has built an enterprise that serves the needs of millions of outdoor
enthusiasts around the globe. They are the world’s leading outdoor retailer with
over 75 million visitors to their 26 stores annually (six of which only opened in
2004); 100 million catalog and sale circulars mailed per year, 2 million website
hits per month, and sales in 2004 of $1.98 billion. According to Sporting
Goods Business, their plans are to open another six locations in 2005 and seven
locations in 2006. In addition, they are rumored to be readying for an initial
public offering (IPO) late in 2006 or early 2007.
So how did they become the most successful sport destination retailers?
According to www.basspro.com:
Few businesses have had the opportunity to grow an entire industry where none
existed before. In 1971, top anglers were continually frustrated by the lack of a consistent
source for the specialized gear they needed to compete in the growing sport of
tournament fishing. Starting with just 8 feet of retail space in a Springfield, Missouri
store, Bass Pro Shops began by offering a crude selection of the latest gear from the
tournament trail. The rest, as they say, is history…
Bass Pro Shops has established itself as a prime destination for the outdoor enthusiast.
Almost invariably, Bass Pro Shops retail stores rank among the top tourist
attractions in their respective states. Customers actually plan getaways and even
honeymoons around a visit to a Bass Pro Shops superstore because of the one-of-akind
experience it offers. Impressive indoor waterfalls, glass aquariums, wildlife
mounts, delicious food and more make each Bass Pro Shops store a must-see attraction
for the sporting family.
Data to determine the level of success of each element of the sport retail strategy
mix must be collected and evaluated. This feedback involves relating the
results to two main areas: goals and objectives; and the situation analysis.
Goals and Objectives
The goals and objectives of a sport retail organization reflect the short- and
long-term targets a sport retailer hopes to reach. These goals and objectives must
be clearly stated without ambiguity to ensure that the mission can be put into
action. In sport retail management, goals and objectives are usually centered on
sales, profit margin, customer satisfaction, and company image. Sales objectives
focus on reaching specified volume goals such as increasing revenues, maintaining
sales levels, maximizing percentage share in market, and attaining specified
levels of units sold. Profit goals include dollars earned and increased operating
efficiency (decrease operating expenses while increasing sales). Other profit goals
282 ADVANCED THEORY AND PRACTICE IN SPORT MARKETING