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Part 1 of capstone | Marketing homework help

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1

Milestone One

Will Hoekwater
Southern New Hampshire University
SPT-700 Sport Management Capstone
Dr. Mark Hecox

Proposed Project Description

Overview of LIV Golf

LIV Golf emerges as a groundbreaking force in professional golf, set to transform the conventional dynamics of the sport. This visionary entity seeks to revolutionize the golfing experience by not only introducing innovative tournament formats but also by amplifying fan engagement and raising the sport’s overall allure. Founded with the explicit mission of reshaping the traditional golfing landscape, LIV Golf stands as a testament to the commitment to creating a dynamic and entertaining platform. Through strategic initiatives, this organization aims to provide both players and fans with a fresh perspective on golf, fostering a sense of excitement and modernity (Nite et al, 2023). With a focus on dynamism, innovation, and inclusivity, LIV Golf aspires to carve its niche in the professional golf arena, setting new standards and captivating a diverse global audience.

Market Expansion Choice

LIV Golf’s strategic maneuver to penetrate the global golf market, with a particular focus on burgeoning markets in Asia, underscores its commitment to expanding its reach and impact. This deliberate choice is underpinned by the extraordinary growth prospects inherent in the Asian market. In recent years, Asia has witnessed a notable surge in the popularity of golf, propelled by the region’s robust economic expansion, increasing disposable incomes, and a heightened enthusiasm for sports and recreational activities. The strategic emphasis on Asia aligns with LIV Golf’s foresight, recognizing the immense potential to tap into a burgeoning demographic of golf enthusiasts in this dynamic region (Davis et al, 2023). By capitalizing on the growing affluence and sporting fervor in Asia, LIV Golf positions itself as a trailblazer in redefining the global golfing landscape.

Top of Form

The escalating enthusiasm for golf in the region presents a golden opportunity for LIV Golf to strategically position itself at the forefront of the burgeoning trend and emerge as a key influencer in the Asian golf landscape. Recognizing the sport’s rising popularity, LIV Golf aims to proactively penetrate the Asian market, capitalizing on the momentum to enhance its brand visibility and impact. This strategic move is not only about seizing a timely opportunity but also about fostering profound connections with both players and enthusiasts (Davis et al, 2023). By aligning with the prevailing golfing trends in Asia, LIV Golf envisions establishing lasting relationships, creating an indelible imprint on the regional golf scene, and ensuring sustained engagement from a dynamic and growing community of golf aficionados in the Asian market.

Description of the Proposed Project

The proposed project centers around crafting and executing a sequence of prestigious golf tournaments and events strategically positioned in vital Asian markets. This comprehensive initiative entails the formulation of strategic alliances, meticulous event logistics management, dynamic marketing campaigns, and the infusion of cutting-edge technologies to elevate the overall spectator experience (Davis et al, 2023). The primary objectives are multifaceted: to position LIV Golf as the foremost golf entertainment brand in Asia, broaden its fan base, and establish a sustainable and lucrative business model. Vital prerequisites for the project involve seamless collaboration with local stakeholders, the acquisition of sponsorships, and strict adherence to regulatory frameworks (Davis et al, 2023). The anticipated outcomes, or deliverables, encompass flawlessly executed events, a substantial surge in viewership, and heightened brand prominence within the specified target market, reflecting the project’s commitment to excellence and its strategic vision for success.Top of Form

Market Feasibility

Analysis of Current Industry and Market

Before embarking on an entry into the Asian market, LIV Golf recognizes the critical necessity of conducting a meticulous analysis of the current golf industry and market dynamics. To ensure a strategic and informed approach, LIV Golf will engage in a comprehensive examination encompassing existing golf tournaments, competitors, and prevailing market trends. This multifaceted analysis extends to an assessment of the demand for golf events, scrutinizing the preferences of the target audience, and understanding the economic factors that exert influence on the market. Moreover, LIV Golf will meticulously evaluate competitive forces, taking into account the presence of established tournaments and potential barriers to entry (Antolino, 2023). This comprehensive examination will serve as the foundation for the formulation of effective market entry strategies, enabling LIV Golf to navigate the complexities of the Asian market and establish a strong and competitive presence.

Top of Form

B. Financial and Demographic Analyses

Financial viability is paramount within the realm of market feasibility for LIV Golf. The organization is committed to an exhaustive financial analysis, encompassing crucial elements like projected revenue streams, investment prerequisites, and the anticipated return on investment. Complementary to this, meticulous demographic analyses will be conducted, delving into the characteristics, preferences, and purchasing power of the target audience (Antolino, 2023). These comprehensive insights will play a pivotal role in shaping tailored marketing strategies, ensuring they align seamlessly with the distinct needs and interests prevalent in the dynamic Asian market, thereby fortifying LIV Golf’s strategic position for optimal success.Top of Form

In conclusion, the envisioned project for LIV Golf signifies a well-thought-out venture, strategically targeting expansion into the burgeoning Asian market. This initiative is underpinned by a comprehensive comprehension of prevailing industry dynamics and market conditions. By adhering to meticulous planning and precise execution, LIV Golf aspires not only to penetrate but also to assert itself as a dominant influence in redefining the golfing landscape worldwide. The proposed strategic expansion reflects a forward-thinking approach, poised to capture new audiences, elevate the sport’s profile, and solidify LIV Golf’s position as a frontrunner in the ever-evolving global golfing arena.

Top of Form

References

Nite, C., Keaton, A., Neff, P., & Fulk, C. (2023). The legitimacy work of institutional disruption and maintenance: examining the rivalry between LIV golf and the professional golf association. 
European sport management quarterly, 1-21.

Davis, L., Plumley, D., & Wilson, R. (2023). For the love of ‘sportswashing’; LIV Golf and Saudi Arabia’s push for legitimacy in elite sport. 
Managing sport and leisure, 1-19.

Antolino, N. (2023). Love Don’t LIV Here Anymore: Legal Battles Onset between the PGA Tour, Professional Golfers, and the LIV Golf Tour. 
Jeffrey S. Moorad Sports LJ, 
30, 289.

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July 1, 2023
    

 

 

 

71) The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the smallest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) A and D

 

72) The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the largest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) A and D

73) Tax incidence refers to

A) how government taxes are spent by the government.

B) the incidences of tax revolts by the taxpayers.

C) the amount of a tax minus its burden.

D) the division of the burden of a tax between the buyer and the seller.

E) tax revenue minus excess burden.

 

74) If a $1 sales tax is imposed on the sale of a CD, and neither the demand nor the supply is perfectly elastic or perfectly inelastic, then the price of a CD paid by consumers will

A) increase by $1 and fewer CDs will be bought.

B) increase by less than $1 and fewer CDs will be bought.

C) not change and the same number of CDs will be bought.

D) increase by $1 and the same number of CDs will be bought.

E) increase by more than $1 and fewer CDs will be bought.

 

75) Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in a ________ in the price paid by buyers and ________ in the equilibrium quantity.

A) rise; an increase

B) rise; a decrease

C) fall; an increase

D) fall; a decrease

E) a rise; no change

76) The graph shows the market for textbooks. If the government introduces a tax of $20 a textbook, then the price paid by buyers ________.

A) increases by $20

B) increases to $80 a textbook

C) decreases to $60 a textbook

D) is $70 a textbook

E) does not change because the demand for textbooks is perfectly elastic

 

77) Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in a ________ in the price received and kept by sellers and a ________ in the price paid by buyers.

A) rise; rise

B) rise; fall

C) fall; rise

D) fall; fall

E) no change; rise

78) Suppose the demand for barley is perfectly elastic. The supply curve of barley is upward sloping. If a tax is imposed on barley,

A) barley sellers pay the entire tax.

B) barley buyers pay the entire tax.

C) the government pays the entire tax.

D) the tax is split evenly between barley buyers and sellers.

E) who pays the tax depends on whether the government imposes the tax on barley sellers or on barley buyers.

 

79) The demand for apple pies is perfectly elastic. If the government taxes apple pies at $1 a pie, then ________.

A) the seller pays the entire tax

B) the buyer pays the entire tax

C) the seller and the buyer split the tax evenly

D) the seller and the buyer split the tax but the seller pays more

E) who pays the tax depends on whether the government imposes the tax on pie buyers or on pie sellers

80) At harvest time the supply of wheat is perfectly inelastic. If the government taxes wheat at $1 a bushel, then

A) the seller pays the entire tax.

B) the buyer pays the entire tax.

C) the seller and the buyer split the tax evenly.

D) the seller and the buyer split the tax but the seller pays more.

E) no one pays the tax because the wheat must be harvested or it will go to waste.

 

 

 

default image
July 1, 2023
    

 

 

 

71) The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the smallest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) A and D

 

72) The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the largest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) A and D

73) Tax incidence refers to

A) how government taxes are spent by the government.

B) the incidences of tax revolts by the taxpayers.

C) the amount of a tax minus its burden.

D) the division of the burden of a tax between the buyer and the seller.

E) tax revenue minus excess burden.

 

74) If a $1 sales tax is imposed on the sale of a CD, and neither the demand nor the supply is perfectly elastic or perfectly inelastic, then the price of a CD paid by consumers will

A) increase by $1 and fewer CDs will be bought.

B) increase by less than $1 and fewer CDs will be bought.

C) not change and the same number of CDs will be bought.

D) increase by $1 and the same number of CDs will be bought.

E) increase by more than $1 and fewer CDs will be bought.

 

75) Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in a ________ in the price paid by buyers and ________ in the equilibrium quantity.

A) rise; an increase

B) rise; a decrease

C) fall; an increase

D) fall; a decrease

E) a rise; no change

76) The graph shows the market for textbooks. If the government introduces a tax of $20 a textbook, then the price paid by buyers ________.

A) increases by $20

B) increases to $80 a textbook

C) decreases to $60 a textbook

D) is $70 a textbook

E) does not change because the demand for textbooks is perfectly elastic

 

77) Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in a ________ in the price received and kept by sellers and a ________ in the price paid by buyers.

A) rise; rise

B) rise; fall

C) fall; rise

D) fall; fall

E) no change; rise

78) Suppose the demand for barley is perfectly elastic. The supply curve of barley is upward sloping. If a tax is imposed on barley,

A) barley sellers pay the entire tax.

B) barley buyers pay the entire tax.

C) the government pays the entire tax.

D) the tax is split evenly between barley buyers and sellers.

E) who pays the tax depends on whether the government imposes the tax on barley sellers or on barley buyers.

 

79) The demand for apple pies is perfectly elastic. If the government taxes apple pies at $1 a pie, then ________.

A) the seller pays the entire tax

B) the buyer pays the entire tax

C) the seller and the buyer split the tax evenly

D) the seller and the buyer split the tax but the seller pays more

E) who pays the tax depends on whether the government imposes the tax on pie buyers or on pie sellers

80) At harvest time the supply of wheat is perfectly inelastic. If the government taxes wheat at $1 a bushel, then

A) the seller pays the entire tax.

B) the buyer pays the entire tax.

C) the seller and the buyer split the tax evenly.

D) the seller and the buyer split the tax but the seller pays more.

E) no one pays the tax because the wheat must be harvested or it will go to waste.

 

 

 

default image
July 1, 2023
    

 

 

 

71) The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the smallest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) A and D

 

72) The above figure shows the supply curves in four different markets. If each of the markets has an identical downward sloping demand curve and the same tax is levied on suppliers, which market would produce the largest amount of deadweight loss?

A) A

B) B

C) C

D) D

E) A and D

73) Tax incidence refers to

A) how government taxes are spent by the government.

B) the incidences of tax revolts by the taxpayers.

C) the amount of a tax minus its burden.

D) the division of the burden of a tax between the buyer and the seller.

E) tax revenue minus excess burden.

 

74) If a $1 sales tax is imposed on the sale of a CD, and neither the demand nor the supply is perfectly elastic or perfectly inelastic, then the price of a CD paid by consumers will

A) increase by $1 and fewer CDs will be bought.

B) increase by less than $1 and fewer CDs will be bought.

C) not change and the same number of CDs will be bought.

D) increase by $1 and the same number of CDs will be bought.

E) increase by more than $1 and fewer CDs will be bought.

 

75) Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in a ________ in the price paid by buyers and ________ in the equilibrium quantity.

A) rise; an increase

B) rise; a decrease

C) fall; an increase

D) fall; a decrease

E) a rise; no change

76) The graph shows the market for textbooks. If the government introduces a tax of $20 a textbook, then the price paid by buyers ________.

A) increases by $20

B) increases to $80 a textbook

C) decreases to $60 a textbook

D) is $70 a textbook

E) does not change because the demand for textbooks is perfectly elastic

 

77) Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in a ________ in the price received and kept by sellers and a ________ in the price paid by buyers.

A) rise; rise

B) rise; fall

C) fall; rise

D) fall; fall

E) no change; rise

78) Suppose the demand for barley is perfectly elastic. The supply curve of barley is upward sloping. If a tax is imposed on barley,

A) barley sellers pay the entire tax.

B) barley buyers pay the entire tax.

C) the government pays the entire tax.

D) the tax is split evenly between barley buyers and sellers.

E) who pays the tax depends on whether the government imposes the tax on barley sellers or on barley buyers.

 

79) The demand for apple pies is perfectly elastic. If the government taxes apple pies at $1 a pie, then ________.

A) the seller pays the entire tax

B) the buyer pays the entire tax

C) the seller and the buyer split the tax evenly

D) the seller and the buyer split the tax but the seller pays more

E) who pays the tax depends on whether the government imposes the tax on pie buyers or on pie sellers

80) At harvest time the supply of wheat is perfectly inelastic. If the government taxes wheat at $1 a bushel, then

A) the seller pays the entire tax.

B) the buyer pays the entire tax.

C) the seller and the buyer split the tax evenly.

D) the seller and the buyer split the tax but the seller pays more.

E) no one pays the tax because the wheat must be harvested or it will go to waste.

 

 

 

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