Sunday, October 25, 2015

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been replaced by newer technology in recent years.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. 

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.

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.

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