Blog Post 8: Final Reflection

With this being my final blog post of the semester, I have been assigned to write a post dedicated to a final reflection on how content I've learned within the course tie into various course objectives and outcomes. Throughout the course so far, I have been exposed to many different marketing scenarios, from learning terminology on the classic written exams, to taking control of my own Backpack company with my group in the Mcgraw Hill Marketing Simulation, all while contributing to an engaged class that went in depth on current marketing news, among many other topics.

Course Objectives

To examine and convey basic and emerging marketing topics and terminologies

Throughout this course, the only way to be successful is to read the textbook each week before the chapter quiz in class. Without reading the textbook and examining the terminologies, there is no way anyone could pass that chapter's quiz. However, This preparation for each quiz goes a lot farther then just helping for that particular quiz. Analysis of each chapter gave me the tools to use within the Marketing simulation which gave me crucial tools which played a huge role in my group's success. For example, When we learned about the 5 general criteria to select target segments, I was really able to transition the knowledge on that newly learned topic from the chapter quiz and exam to the marketing simulation. This benefitted my success within the simulation because when we needed to choose a new target market we went through each criteria like market size, growth, and competitive advantage and decided on urban commuters because they had the largest market size and we had the most competitive advantage because many of the groups focused on university students, school children, or outdoor enthusiasts. This is just one example of how the learning of a new marketing term transitioned into my success in various aspects of the class, others like target market and the four P's played huge roles as well.

To have the opportunity to put marketing into action action via team and individual projects, research, reports and presentation.

Although learning the various marketing terminology that comes with the written part of this course is key to student's knowledge and success in this class, putting what I learned into action via various projects, research, reports, and presentations was a crucial aspect that was held very highly. Before this class, I never had to stand up in front of any sized class and present an in depth topic by myself. After my first presentation, my comfort increased exponentially, and by the last, I actually felt very comfortable standing up there and delivering a great, in-depth, Ted-Talk presentation. This extra step we had to take in this class played a huge in my complete understanding of the material as well. Writing reports and actually analyzing data to see what decisions worked throughout the simulation gave me a way first hand to understand what I was doing right and wrong, and showed me what would work for the future.

To set personal and professional goals and positively contribute in an engaged class

The benefits of participation was crucial to my success in the class so far. Exercises such as when we needed to come up with characteristics that would match each specific target market of different coffee shops is one exercise that stuck with me. Through this exercise, I learned how important marketing effectively towards your target market is one of the most beneficial things you can do for your company. This concept remained with me for the remainder of the class and transferred into the marketing simulation, and my presentations.

Learning Outcomes

Use Written and Oral Skills to persuade a target audience

Although content is a very crucial aspect of any presentation, In this class I learned that oral skills and body language is huge when trying to convey a point to my target audience. From the beginning, Professor Nelson drilled into us on how important eye contact with the audience and the elimination of the word "um" during any presentation. One aspect of presentation skills that I learned the hard way was how important tailoring your presentation duration to the time allotted is. I lost about 3 letter grades on my ted talk and for now on I will make sure to focus on that among many other things when giving a presentation.

Participate and communicate as an effective member of a team.

In each business class I've taken so far, group work was a major part of the class criteria, but this class took it to a whole other level. Within this class, our group needed to make many very specific decisions during the Marketing simulation and group presentations. This teamwork is pretty much as real-world as you can get without actually being in the workforce. The group work assigned this semester has given me many important tools and skills which will help make me successful in the future.

Blog Post 7: Distribution Channels Within Maverik Lacrosse

What Are Distribution Channels?

Direct Vs. Indirect

Direct Distribution Channels is a situation in which the producer sells a product directly to a consumer without the help of intermediaries. On the other hand, Indirect Distribution Channels involves a product taking other steps as it moves from the manufacturing business by intermediaries distributors to wholesalers and then eventually retail stores. Both channels have both positives and negatives, and it is up to managers and others within corporate to find the most effective channel, or combination of channels, to most effectively meet their consumers needs.

As you can see with the direct distribution method in the picture above, Product travels directly from the producer to the consumer. At first, this method can result in an expensive investment, but after paying for warehouses, trucks, drivers, and logistic systems, this method is much more likely to be less costly then indirect. Within the indirect distribution method, the most challenging part is that another party has to be trusted with the product, but this can play out in the manufacturers favor because some intermediaries are able to deliver products in a way most manufacturers can't. Along with this, this distribution method can cut out any start up costs as well.

Maverik Lacrosse's Distribution Channel

As I stated before, companies such as Maverik are responsible for coming up with which method of distribution would reach their customers the best. For a majority of the product Maverik sells, they use the Indirect Distribution Channel to reach their customers. Instead of purchasing equipment straight from Maverik's website, consumers visit online distributors such as Lax.com or Lacrossemonkey.com, or stores like Lacrosse Unlimited to purchase all their Maverik Gear. The reason Maverik uses this distribution channel is exemplified well in my job with them.

As a Marketing Representative for Maverik Lacrosse, My job is to set up a tent and trailer at different lacrosse tournaments around the east coast, displaying and marketing product to consumers who interact with us. Since Maverik doesn't directly sell gear to the public, we do not sell directly from our tent. Instead, at every tournament we set up at, we have a specific retail partner who sells a lot of the equipment we have on display. In my opinion, this is a very successful strategy because the company avoids having to keep a large amount of inventory in the truck, and meanwhile, Marketing representatives like my coworkers and I, can focus on delivering the brand name, instead of just selling units.

Although Maverik only sells gear and apparel through online distributors to the public, they use the Direct Distribution Channel when they do team orders for collegiate, high school, or club programs. Maverik has a team of workers who deal with these orders directly, so when my team at Saint Michael's did a team order of Maverik gloves, our coach dealer directly with a team sales representative, and we got the gloves directly from them. Other teams like my little brother's club travel team order team orders of apparel, jerseys, gloves, and even shafts directly from Maverik. This makes it much faster and easier without an intermediary of an indirect distribution channel because the order goes directly to them, and they don't have to waste time with another retailer. 

Blog Post 6: Why Consumers Choose Maverik over Competition

What Makes Maverik Different?

Throughout Marketing class, I have learned that there are many factors that go into consumers head when they purchase a product after evaluating competition. Like I stated in my last post, Maverik Lacrosse lies within the Monopolistic Competition competitive market, so they must differentiate their products as best they can. 

Young Maverik's Target Segment

When Maverik first began as a company in 2005, they needed to establish a target segment so that they could begin focusing their advertising effort towards that segment. When establishing a target segment, their is a specific list of universal criteria that most companies (like Maverik) take. They are as follows:

Market Size- the size is an important factor when deciding if the market is worth going after.

Expected Growth- Although the market may look small now, their may be projected growth in the future, or it is growing significantly.

Competitive Position- is there going to be a lot of competition, or is there a lot now? less competition= less competitive, more attractive the segment

Cost of Reaching the Segment- a segment that is inaccessible to a firm’s marketing actions should not be pursued, like if it was too expensive.

Compatibility with the organization’s objectives and resources- don’t go for it if it doesn't fit the image your company is trying to create and maintain. 

After reviewing this criteria, it makes sense that Maverik chose to target new lacrosse players at first since both the popularity of lacrosse, and the amount of kids starting to play was beginning to grow. Also, at this time, there wasn't much competition compared to other industries, so it was a pretty safe bet to focus on this target segment.

High Learning Vs. Low Learning Products at Maverik 

Since Maverik started as a fresh, new company at a time where lacrosse was just starting to gain popularity, the founders at Maverik needed to find the perfect balance of low learning and high learning products. 

High Learning Product- significant customer education is required, long introductory period

Low learning products- little knowledge is needed and the benefits of of purchase are readily understood.

At first, when Maverik introduced their first line of products, there was a bit of a learning curve since everything was so new and unfamiliar, but the products themselves were low learning. With sports products, athletes usually read up or test out many products that they end up purchasing so that they can compete to the best of their ability, and this is no different in the lacrosse world. Because of this, some new products with new technology, long introductory periods occur, giving it a high learning product qualities. On the other hand, right when you put a pair of gloves on or hold a brand new lacrosse haft at the store, you can feel the benefits right away, which allows the product to have many low learning qualities. 

Blog Post 5: Maverik's Competitive Market and Price Strategy

Types of Competitive Markets

Like many other sellers in the market, Maverik's price is constrained by the type of market in which it competes in. Formally, the different competitive market is divided into four different divisions. Before I go into which competitive market Maverik is in, I will explain each market segment and explain the different price constraints firms in each market must abide by.

Pure Competition

Many sellers who follow the market price for identical, commodity products. Products within this competitive market are usually very similar. Also, the market sets the price for each product, so the objective of each seller's advertising is to inform consumers what they are selling

Monopolistic Competition

Many sellers who compete on non price factors. Within this competitive market, advertising's main focus is to differentiate each own firm's products from it's competitors, and the price range is usually within a small window, depending on the quality of each product.

Oligopoly

Few sellers who are sensitive to each other's prices. In this competitive market, companies attempt to avoid price competition because it can lead to disastrous price wars that result in a loss of money for all players within, and prices usually vary depending on the industry.

Pure Monopoly

One seller that sets the price for a unique product. Within this competitive market, there is no price competition and there is little to no advertising since there aren't any other unique products to compete against

So which competitive market is Maverik a part of?

After reading the description of each, it is quite easy to tell that Maverik Lacrosse is within the monopolistic competition market. Within Maverik's Market, there are numerous other players who create products who have the same use. For all the products within this competitive market, advertising must be focused on what makes your product stand out from the competition. Most recently, Maverik released a new line of Apollo Lacrosse shafts. 

As you can see from the commercial above, Maverik's focus of this advertisement is to differentiate their product from other competitors by showing the benefits of the product. This product is advertised as the lightest, yet strongest shaft on the market, and I believe this commercial (through LacrosseMonkey.com) does a great job of highlighting all the benefits that comes along with purchasing this shaft, instead of the competitions. 

Maverik's Price Strategy

Since Maverik's price for each of it's product is constrained by it's competitive market of monopolistic competition, they must create prices that justify the purchase of their products in comparison to the competition. Keeping this in mind, many top of the line products that just come out usually have prices that are very similar to each other. For example, Maverik's new Apollo shaft has a retail price of $119.99, which is just about what you will find from some of the company's main competitors like Warrior and STX's recently released shafts. Since there isn't a huge price differentiation, most advertising goes towards concrete reasons such as weight, durability, and feel for buying one product instead of the other.

Blog Post 4: The Product Life Cycle of Various Maverik Products

The Product Life Cycle

With my experience at Maverik Lacrosse, Ive learned that the product life cycle is very prevalent in every product line that Maverik and Cascade (A partner company of Maverik) creates. For this blog, I will focus on the product life cycle of different Maverik products.

What is the Product Life Cycle?

New products go through a sequence of stages from introduction to growth, maturity, and decline. The introduction stage is the stage that is usually the most expensive for a company because the size of the market for the new product is small, and sales are usually low, while the cost of research and development is high based on competition. The growth stage is the stage characterized as the stage with high sales and profits. The maturity stage is that stage where the producer must aim to maintain the market share they built up. This is the most competitive time for most products as well. The decline stage is the stage where the market will begin to shrink and usually meet its demise and companies will begin to find a cheaper way to produce these items, or stop making them all together.

Examples of Maverik Products in Each Stage

Introduction Stage- The New Centrik Head: Maverik's newest head just hit the shelves in September

Growth Stage-  The Tank and Optik Heads: 

2 of Maverik's most popular heads that have established a spot in the market 

Maturity Stage- The Cascade R Helmet:

Still the best selling helmet today, the cascade R is used by teams across the country.

Decline Stage- The Maverik WonderBoy Shaft:

One of Maveriks first shafts they created. Has 

been replaced by newer technology in recent years.  

Blog Post 3: Paul Rabil- Marketing Genius

Paul Rabil

My goal for this blog is to show how a professional lacrosse player who's salary is $65,000 a year can market himself in both a smart and strategic way through various outlets to become Lacrosse's first "Million Dollar Man".

What Makes Him Different?

The game of lacrosse has grown exponentially in the past decade. Certain players work hard to grow the game with hopes that lacrosse can grow into a premier worldwide sport. One of these pioneers is the undisputed best player in the world, Paul Rabil. Rabil has received more accolades than any other player in MLL history. Obviously this is an extreme feat to accomplish, but what he has done off the field in a marketing perspective is just as impressive. In the MLL, most, if not all, players have another job to help financially support themselves. Paul Rabil is the exception. His entrepreneurship and the way he markets himself is his other job. Paul continues to grow his image through various social media outlets, his own website, and his industry leading portfolio of endorsements.

Social Media

Paul is probably the professional lacrosse player who is involved with social media the most out of any other. Currently Paul has pages on all major social Media sites. His involvement in Social Media enables him to brand himself as more than just a lacrosse player, and this is where his success as an entrepreneur branched from as he gained popularity. Below, I will talk about a few social media outlets that Paul uses to connect with the world and grow his image.

LinkedIn

He has over 500 connections on LinkedIn, where he outlines his current and past work and volunteer experiences, as well as the many skills he has acquired through these experiences. I believe one of the reason he is able to thrive and gain so much popularity is because of how dedicated and passionate he is to laying out his portfolio. After seeing his profile, it has inspired me to take more time in constructing mine to help myself look as desirable as an employee as possible. 

Rabil's LinkedIn Page

Instagram

To many people, Instagram is a Social Media outlet in which people share pictures of pretty much everything. It is usually used by everyday people who share pictures of themselves with family and friends, but more and more companies and employees/employers are taking advantage of this popular social media outlet to engage followers to news about different products and brands. Rabil has used his personal Instagram account for a combination of both. On his account you will see a plethora of pictures of  brands and products he has invested in, as well as snapshots of family, friends, and himself in everyday life. The way he contracted his Instagram profile, in my opinion, is the perfect balance of work and fun because followers are excited to see what this legendary athlete does as a daily routine, as well as engage in his various work outlets. 

Paul Rabil's Instagram Account

Twitter

Twitter is quickly emerging as one of the most popular social Media Outlet. Many powerful figures like President Obama and Presidential Candidate Donald Trump have twitter accounts and connect with people around the world through it. Paul does the same by connecting with over 63K followers and once again highlights his personal and business life.

Paul Rabil's Twitter Account 

Personal Website

Rabil has his own personal website that perfectly displays all the Paul Rabil does, both business wise and lacrosse wise. The website is very ascetically appealing and includes a biography on him, a photo gallery that shows his various business partnerships, his equipment line, and his charity organization, the Paul Rabil Foundation. This website really helps him market himself as not only a lacrosse player, but as an entrepreneur and an ambassador.

http://www.paulrabil99.com

Notable Endorsements

As explained throughly on his website, Paul has an extremely extensive portfolio of endorsements which include partnerships with Redbull, Warrior, GoPro, and MetRX to name a few. He has also established Rabil Companies, Inc., which was found through annual camps and clinics for children ages 8-16. Rabil focused on skill set development, strength and conditioning, nutrition, and mental preparation to develop youth lacrosse players to excel at the next level.

Citations:

http://www.paulrabil99.com

http://www.bloomberg.com

Blog Post 2: Maverik's Marketing techniques: Player and League Endorsements

Maverik Lacrosse has come very far since its humble beginnings in 2005. The for profit company was founded by John Gagliardi and Jay Jalbert. In June 2010 Gagliardi sold his company to New York City private equity company Kohlberg & Co, the parent company of sporting goods powerhouse Bauer Sports. 

Humble Beginnings to Household Lacrosse Company

So how was Maverik able to attain so much popularity in such a short time? Maverik took the route of advertising through partnerships in order to get the name out to the world. From the beginning, Maverik's plan was to develop brand loyalty to their potential consumers. The way Maverik designs its product lines allows for brand loyalty to occur because they have various lines with new and improved products continuously being developed. If a consumer purchases a Maverik Rome product, for example and enjoys it, they will more than likely purchase the next generation of that product when it comes out. This was the basis for Maverik's marketing strategy.

League and Team Endorsements and Partnerships

Since the company's beginning, Maverik has expanded exponentially, acquiring various team and league equipment partnerships. These partnerships have allowed Maverik to gain popularity through all levels of the game, making Maverik a household name in the lacrosse world. Following, I will highlight Maverik's largest team and league equipment partnerships.

Major League Lacrosse
On April 22nd 2014, Major League Lacrosse, the premier professional outdoor lacrosse league, announced that it teamed up with Maverik Lacrosse as an Official Equipment Partner of the MLL. This year, they have extended their contract with the MLL to another 4 years. As part of this partnership they will outfit specific players with gloves, heads, shafts, and other protective equipment. They have also signed partnerships with specific teams such as The Long Island Lizards and Rochester Rattlers.

“We’re excited to have Maverik Lacrosse join Major League Lacrosse as an Official Equipment Partner, Having one of the top lacrosse manufacturers as a partner is another important step in uniting the sport.”- MLL Commissioner David Gross

NCAA Division 1 Universities

Along with partnerships with the MLL, Maverik has joined forces with top level Division 1 lacrosse powerhouses such as Notre Dame, Albany, Penn State, The University of North Carolina at Chapel Hill, and Georgetown, To name a few

Notable Player Endorsement

Drew Adams

Along with equipment partnerships with Teams, Maverik has signed over 20 superstar MLL athletes including 2015 Goalie of the year, Drew Adams. Drew played his collegiate lacrosse at Penn State and was then drafted to the Long Island Lizards. Since then, he has been a member of Team USA and an MLL MVP numerous times. Since 2010, Drew has been an Marketing Manager at Maverik and is responsible for the marketing budget of the company, planning product launch strategies, and managing print, online, and in-store advertising. he has been a crucial player in Maverik's success and popularity side he entered the MLL in 2009.

Blog Post 1: Introduction of Myself, My Goals For The Semester, and The Company I am a Part of

Who Am I?

Hi everyone. My name is Matthew Hanley and I am a sophomore attending Saint Michael's College located in Colchester Vermont. Currently, I am a Business Administration Major, and I may pick up an Economics minor, but I am not positive yet. Along with my academics here at Saint Mike's, I am a member of the lacrosse team. This semester, I will be composing a blog based off my experiences this summer as a Marketing Representative for the Maverik Lacrosse company, along with translations of material from my current Marketing class. Through this blog, I hope to connect my many experiences professionally with Maverik to this Marketing class' teachings, which will benefit me when I work with them again next summer. My goals for this upcoming semester are to balance and excel both academically and athletically, all while keeping up with the social aspects of college life.

For this first post, I've decided to give an overview of the company I work for and explain what I did for them this summer. This will set the ground work for the rest of my posts where I will then connect my experiences to class material.

About Maverik Lacrosse

As I said before, this blog will mainly focus on my time at Maverik, and how this class will shadow my experiences as a Marketing Representative, giving me the tools and knowledge in marketing to help me strive. Maverik Lacrosse was founded in 2005 by John Gagliardi and Jay Jalbert. The company both designs and develops Lacrosse equipment and apparel, such as heads, shafts, shoulder pads, elbow pads, and gloves. In 2010, Maverik was acquired by Kohlberg & Co, the parent company of Bauer Sports and is a partner company with Cascade Lacrosse, who specialize in lacrosse helmets. Maverik Lacrosse partners with many Collegiate lacrosse teams including Notre Dame and The University of North Carolina, along with Professional teams like the New York Lizards and Florida Launch.

Below I've attached a link of a commercial Maverik ran recently. This commercial really shows what the company is all about and how their goals aren't just to make a profit, but help grow the game of lacrosse for the future.

Maverik Lacrosse :: The Making of The Future is Here

So What do I do for the Company?

As a Marketing Representative for the company, I travel around the east coast, attending youth and high school lacrosse tournaments. I am responsible for a Ford F150 truck, a small trailer, and a team of two other employees. At these tournaments, I set up a tent and a table, displaying new and upcoming products that Maverik and Cascade have to offer. While I am working at these tournaments, My team and I need to be engaging with the consumers. We want everyone that comes to our tent to leave better informed of our products, and happy with their overall experience. Even a normal conversation with young lacrosse players and their parents about how they are doing in their games or anything else that happens to come up at that time goes a long way for the brand. Since we don't actually sell any product at these events, it is crucial for my team and I to give the potential customers who are interested in our product a reason to go to their closest lacrosse retailer and purchase our product after meeting us. To me, theres nothing better as an employee than hearing young players say they have a ton of Maverik gear and love it.

Below is a few pictures of my truck and tent set up: