Greek Golf Training Center
Market Analysis Summary
The Greek Golf Training Centers will be the only golf complex of its kind in all Athens and surroundings (more than four million people). Some aspects of the facility will cater mainly to Athens golf course members but, generally will appeal to everyone in the area.
Because of the flexibility of time schedule, the independency of weather conditions, and in combination with the comfortable auto feeding system, our market segments vary from dedicated golfers to people who want to learn golf, have some stress relief leisure activities and socialize with other members.
In addition, Greek Golf Training Centers shall develop good relations with well known golf training schools worldwide in order to bring golf to youth, advise and urge them to continue for a professional career.
It should be emphasized that at the moment, people in Athens can enjoy golf only in Athens (Glyfada) Golf Course. There are 700 members, however the age average is higher than 55 years old. Moreover, the unique training facility in Athens is in very bad condition since there are not ball feeders, it is weather dependant, and most of all closes at 16:00. Consequently, businessmen, employees, doctors, lawyers, etc. do not have the chance to familiarize with golf.
4.1 Market Segmentation
Golfers
A market segment for Greek Golf Training Centers will be the existing golfers (700 members of Athens Golf Club). These people love golf and continuously try to improve their performance.
There are some highly skilled persons, while others are above 90′ (their score), however as it has been mentioned above most of them are older than 50 years. Provided that they can practice at any time and weather conditions, a part of them will join Greek Golf Training Centers. Nevertheless, due to their age average they are expected to have more leisure time which does not prevent them to use the existing facilities of Glyfada Golf Course.
Scientists
An important market segment for Greek Golf Training Centers will be the scientists. This market segment include employees such as doctors, lawyers, managers in private companies and public organizations, economists, etc. These people will be a target market for special promotions and periodic activities.
Businessmen
Another market segment for our facility will be those who shall combine business with entertainment. They will have a stress relief where they can enjoy a brandy and discuss in a comfortable place with their guests and/or colleagues.
Employees
This is a smaller, but important market segment for our facility. Although fees will be high for private employees, there will be some of them who will join our Center. Except the chance to learn golf, develop public relations, join teams to play golf in a course or arrange golf vacations.
University students
Another small market segment for Greek Golf Training Centers will be the students who are attracted due to golf’s uniqueness, its fitness programs and continuous exercise, competitions and other events.
Youth
This market segment will be our middle term growing market and maybe the most important in a few years.
In combination with golf promotion in Greece, co-operation with foreign well known golf schools and the proper attitude that will be developed, young people will form teams and take part in competitions, continue golf studies abroad and become professionals (at least a few of them). These people will be the Center’s flag and support it accordingly.
Housewives
Another small market segment is with the housewives. Golf is unknown to them, however, since they have plenty of time we estimate that a small number will be attracted. They can have some stress relief especially in the morning time.
Others
Tourists, foreigners who work in Greece, guests and etc. will join us, however, they do not like to be locked into long-term commitments but like the freedom to come and go when the opportunity presents itself. Moreover, we expect that segment to reach a peak value during the Olympic Games (Athens 2004).
| Market Analysis | |||||||
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
| Potential Customers | Growth | CAGR | |||||
| Golfers | 10% | 2,000 | 2,200 | 2,420 | 2,662 | 2,928 | 10.00% |
| Scientists | 50% | 7,000 | 10,500 | 15,750 | 23,625 | 35,438 | 50.00% |
| Businessmen | 50% | 6,000 | 9,000 | 13,500 | 20,250 | 30,375 | 50.00% |
| Employees | 50% | 2,000 | 3,000 | 4,500 | 6,750 | 10,125 | 50.00% |
| University students | 25% | 2,000 | 2,500 | 3,125 | 3,906 | 4,883 | 25.00% |
| Youth | 50% | 1,000 | 1,500 | 2,250 | 3,375 | 5,063 | 50.00% |
| Housewifes | 30% | 500 | 650 | 845 | 1,099 | 1,429 | 30.02% |
| Other | 10% | 500 | 550 | 605 | 666 | 733 | 10.04% |
| Total | 44.27% | 21,000 | 29,900 | 42,995 | 62,333 | 90,974 | 44.27% |
4.2 Service Business Analysis
The golf business is a booming industry in Greece. At the moment there are a total of three golf courses, the Athens (Glyfada) Golf Club, Rhodes Island Golf Club, and Corfu Golf Club.
Another golf course in North Greece has already closed because grass was too dry and a small course operates in a hotel of Crete island. However, in last year many dramatic changes have taken place. Specifically, Fuji Bank started negotiations with Rhodes Island Club for further investments, the Crete’s Hotels Association has started a superior golf course’s construction in Crete and they plan to build more, and repairs have been started in the North Greece Golf Club.
In addition, the construction plans for the new golf course in Markopoulo have already been approved. Furthermore, a well-known entrepreneur in Greece has planned three golf courses in Peloponnisos area and the construction start day is expected soon. Generally, golf expansion in Greece will be very rapid within next years. It should be noted that Greece is one of the remaining (few) European countries at which golf has not been promoted yet. It should be also mentioned that sales of golf equipment in Greece are very low at the moment.
4.2.1 Competition and Buying Patterns
The competition of Greek Golf Training Centers in Athens and the surrounding areas includes Athens (Glyfada) Golf Club only. The others are located very far from the Greek capital. As it is mentioned above, the training facilities of Athens Golf Club are in a very bad condition. There are no automatic ball feeders for training, mats with slope, areas with sand, sloped areas, etc. Moreover, the training place is exposed to weather conditions. There are not targets for training.
In addition no one can practice after 16:00. Another point is that there is not lighting arrangement for night training. However, there are 700 members that enjoy golf games and they have long term memberships.
Potential members will usually compare the training facilities and find one that fits their specific needs, or has the amenities that he/she wants. Value is usually very important to these potential members as most people want to get the best value for their euro.
In terms of fees and total cost it should be noted that a member needs around 300 balls for practice. At present she or he has to pay 3 euro for 40 balls at Glyfada Golf Club therefore a total of 22.5 euro per practice day. If we assume 10 days per month then a cost of 225 euro results. In addition the member has to pay 1,300 euro per year (annual membership) and consequently 110 euro per month. Therefore, total cost will be 335 euro. In our case the monthly cost is 110 euro.
Another factor that will affect Greek Golf Training Center’s financial figures will be the opening of a franchise in competition. However, the capacity of the Greek Golf Training Center is limited to 500 members and can be retained even with the surrounding areas only. Therefore, that will not be a problem for the future. Furthermore, new programs, events and etc. will be developed on a continuous basis.
4.3 Target Market Segment Strategy
Due to the size, appearance and convenient location of our facility, many people will be attracted to Greek Golf Training Centers to see what we have to offer. However, we will not be content to just wait for customers to come to us. Instead, we will focus our marketing strategies on those market segments who match our offerings. The great thing about marketing Greek Golf Training Centers, is that each market segment relates, in certain ways, to all the others.
Our main objective with our early marketing strategy will be to get people into our facility and convince people that we can bring golf to Greece. Once people see what we have to offer, and feel the atmosphere that will be created, they will want to return and participate in the many activities and programs that will be available to them.
Some of the ways Greek Golf Training Centers will get people into the facility include:
- Offering tours to junior and senior high schools during the building and early completion of the facility.
- Having a large promotional event to open the facility that will be free to everyone.
- Hosting and/or supporting various community events that will attract many people who otherwise would not come.
- Mailing our free day passes to managers of shipping companies (they have relations with Asians who adore golf), businessmen, managers of big companies, etc.
- Provide special discounts for annual subscriptions.
- Free testing of golf equipment.
Following the opening of Greek Golf Training Centers, print and radio media will be used to promote both the facility and the equipment.
By 
