3M Greptile Grip Golf Glove Video Case free essay sample

What are the characteristics of the target market for the 3M Greptile Grip golf glove? 3M wanted to target both avid and professional; golfers who want to improve their game. Due to 3M’s proprietary â€Å"micro replication† technology, which is â€Å"equivalent to using thousands of micro-replication fingers†, golfers will be able to have a better grip and increase swing distance as the glove reduces gripping friction and increases swing control. The primary target segment consists of the large U. S baby boomer population (those born in 1946-1964) and dual income couples. Majority of the baby boomers are either retired, thus having more disposable money set aside for recreational purposes, or have a stable income with more spending power. While dual income couples with no children, have more earning and spending power, with the majority wanting to live the high life, and are willing to pay a premium for it. This situation is similar in countries like Japan and Europe. Therefore, these potential consumers have enough money and time to spend on leisure activities like golf, making them a lucrative group to target. The global industry for golf and golf gloves is currently worth about $300 million and $160 million (respectively) in America. With the golf and golf glove industries flourishing, 3M decided to sell the Greptileâ„ ¢ golf glove through both public and private on- and off- course golf specialty shops and golf superstores. By doing so, 3M will be able to create awareness amongst potential golf players and consumers. Question 2: What are the key points of difference of the 3M Greptile Grip golf glove when compared with competitors’ products, such as Footjoy and Nike? Substitute products, such as golf grips? The technology that is implemented into the glove, called micro-replication, is the gripping together of thousands of tiny fingers. This helps to increase the friction of a user’s grip, allowing for a tighter grip with less force exerted by the user’s hand. Its competitors don’t have this patented micro-replication technology and instead rely on making the best of low-tech materials like leather or rubber, a decidedly unscientific approach to improving a key component of athletic performance. Compared to its competitors it boasts some of the following statistics: ? 260% increase in gripping friction in dry weather conditions 300% increase in gripping friction in wet weather conditions ? An average increase in driving range when used by 6. 8 yards. The glove and grip have such a superior gripping ability, that in professional play, the USGA determined the grip and glove were non-conforming. While it is possible to use the tape or glove separately under their ruling, it eliminates the entire purpose and function of the two. This however does not stop the average person from using it in a game of golf, so 3m is on no lesser footing than its competitors in this market via actual product. Question 3: How does the Greptile Grip golf glove meet 3M’s three criteria for new products? 3M’s three criteria for new products are: ? Be a patentable or trademarked technology ? Offer a superior value of proposition to consumers ? Change the basis of competition by achieving a significant point of difference 3M meets the three criteria as it is most definitely a trademarked technology. It was successful in its attempt to make a ‘point of difference’ so that it would not fail as a new product. The technology the golf glove offers with the micro-replication gripping material sets it apart from the competitors’ products. As explained earlier, the Greptile Grip golf glove offers a superior value to consumers as it improves the golfers’ game. It allows for a greater, more relaxed grip of the club, leading to longer driving distance of the golf ball. These characteristics of the golf glove allow for the company to meet the third criteria for new products by changing the basis of competition by achieving a significant point of difference with the new technology and the tape for the golf clubs that can be purchased with it. In the creation of the Greptile Grip golf glove, 3M used a seven-step process: ? Ideas ? Concept ? Feasibility ? Development ? Scale-up ? Launch ? Post-launch The seven-step process allowed for the company to create and introduce a product that was very carefully planned out. As learned in the textbook, if a company takes the sequence of steps, it will enhance the opportunity for their new product to succeed as they will have been able to work through any potential problems that could have arose after distribution into the market. In the case of 3M, they went through the extensive seven-step process, but still were faced with a problem once the product was available to customers. They were able to release the product, but then had to make adjustments and changes accordingly to the product design. Changes to the golf glove packaging were imperative after complaints that the text on it was hard to read and it looked bulked up on the shelf. They changed the packaging and its information so that it would be more appealing to the consumer and easier to read. They also changed the price points and sharpened the advertisement of the 3M Greptile Grip golf glove. As the 3M packaging engineer, Travis Strom said, â€Å"After all, you only have a few seconds to capture the customer’s attention with the package and make a sale. † So this is what 3M corrected in order to make its new product a success.