Dick's Sporting Goods Marketing Strategy
Course project
Wei Xia
International American University
MKT 500A: Marketing Management
Matthew Mattoon
Oct 23, 2016 Dick’s Sporting Goods winning strategy
In the following contents, I will demonstrate how Dick's Sporting Goods grows to one of largest authentic full-line sporting goods retailer in the US. And what can we learn from their market strategies and how do they achieve their sales' goal through effective marketing strategy.
DICK’S Sporting Goods was founded in 1948 when an 18 year-old Dick Stack was working at an Army surplus store in Binghamton, New York. An avid fisherman, Dick was approached by the store owner to come up with a list of products needed to get into the fishing tackle business. After Dick presented his suggestions,
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Dick said it would cost $300. His grandmother then went to the cookie jar where she kept her life savings and gave him $300 and told him “do it yourself.” Dick used that money and his relentless work-ethic to open a bait-and-tackle shop in Binghamton. By 1958, he expanded his product line to include much of what you’ll find at DICK’S Sporting Goods today.
Ed Stack, Dick’s son, is the current CEO and Chairman of DICK’S Sporting Goods. He and his siblings bought the store from their father and are responsible for taking two stores and growing the chain to over 500
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Back to 1950s, people knew exacting what they want to buy and they went to the stores which have it. These stores like Dick’s Sporting Goods had a limited, but focused on certain range of goods. These days, as the growing demand of customers’ need, sporting goods retailers have a wide range of product on offer. Dick’s Sporting Goods selling variety products that you can’t even imagine 2 years ago, from yoga pads to guns, you just name it. Dick’s has mostly moved away from its outdoorsman roots, as gun, ammunition, and hunting gear sales taper off somewhat. They did a great job on shifting categories continuously to meet customers’ needs. In most recent years, they put a lot of money in Field and Stream marketing. It shifted many of those traditional sales to Field and Stream specialty stores that first opened in 2013 and has since slowly expanded. In addition, the retailer acquired the naming rights from the iconic Field and Stream magazine, seeing it as a way to compete with other sporting goods
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