The basketball industry has no lack of consumers, organizations such as the NBA, the WNBA, college basketball, high school basketball, and countless other basketball organizations located overseas function and train year round. This being said there are millions of potential customers for the Shot Blocker. The sports business industry is worth an estimated 213 billion dollars. The National Basketball Association alone is worth a whopping 3 billion dollars. More specifically, the industry which provides equipment used in competition is worth a staggering 10.14 billion dollars.
The basketball and sports equipment industry is, as shown by its revenue, a thriving and growing industry. New competitors such as “Hot Glove” and “Arcangel & Lifetime” have burst into the industry with simple variations on existing products and established themselves in a very minimal amount of time.
There are many opportunities that exist in the sports equiptment industry. The idea of a shot or ball blocker is a relatively new and unexplored idea. The only existing shot blocking product is a big inflatable doll which is impractical and expensive. This product would be easily eclipsed by our product in the market place. The main threat that exists in this industry is the risk of a competitor taking our new idea.
Factors such as the growing interest in basketball overseas will inflate the basketball accessories industry. Basketball in general has spread from its original urban roots into every walk of life and shows no signs of slowing down. The overall outlook for this industry is continued success and expansion.
As was previously stated our main competitor in this industry is Play Air’s “Inflatable Ben Wallace Defender.” This product not only has many flaws but it also has the target market of only youth players, whereas our Shot Blocker targets a wide array of consumers. It is also a much more practical product, it is sturdier, bigger, moving, and solves...
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