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HHEconomicImpactAnalysis HoughtonConsultingGroup Page1
TheHiltonHeadGolfweekAmateurGolfTour2015
ChampionshipReport
AnAssessmentoftheEconomicImpactsandMarketResearchoftheHiltonHeadGolfweekAmateurGolfTour
Championshipin2015HoughtonCollegeConsultingGroupAdvisingProfessor:KennethBatesTeamLeader:AnnaCoryell‘18
TeamMembers:ChrisBucciarelli‘19,SteveCantanzaro‘16,JacobDunnett‘17,EthanDuryea‘18,Aaron
Eisenhardt‘17,VeronicaGerace‘15,JordanMullen‘18,JohnStranahan‘16,BjørnWebb‘18
HHEconomicImpactAnalysis HoughtonConsultingGroup Page2
Contents
SectionIExecutiveSummary 4
SectionIIBackgroundandMethodologies 5
OrganizationalStructures 5
HiltonHeadGolfweekAmateurGolfTourChampionship 5
History 5
OverviewofOperations 6
HandicapParameters 6
CompetitiveAdvantage 6
Methodology 7
FirstDaySurvey 7
ClipboardSurvey 7
E-mailSurvey 8
SectionIIISurveyResults 9
SurveyGoals 9
SurveyResponse 9
Alternative 9
HiltonHeadAmateurGolfTourChampionshipPlayerProfile 10
PlayerProfileContinued 11
GolfersByState 11
EdwinWatts 12
TaylorMade 15
OnCoreGolf 19
DotPLX 21
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SectionIVEconomicImpacts 24
GrossVersusNetImpacts 24
EconomicImpactsbyType 25
Direct 25
Indirect 25
Induced 25
EconomicMultipliers 25
OtherConsiderations 26
IndustriesAffectedbyGolfweekAmateurTourChampionship 27
DirectImpactofSampleAttendeeSpending 27
EstimatedTotalDirectEconomicImpactoftheChampionship 28
DirectImpactbyState 29
HiltonHeadGolfweekAmateurGolfTourChampionship’s
contributiontotheHiltonHeadIslandareaeconomyin2015 30
AppendixAEconomicImpactAnalysis 31
EconomicImpacts 31
PurposeofMeasuringEconomicImpact 31
KeyIssuesAffectingEconomicImpactAnalysis 32
GrossversusNetImpacts 32
DefinitionofRelevantStudyArea 32
DataReliedUpon 33
StatisticalAnalysis 33
AppendixBOutlineofSurveys 34
FirstDaySurvey 34
ClipboardSurvey 35
E-mailSurvey 37
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SectionIExecutiveSummary
TheHiltonHeadGolfweekAmateurGolfTourChampionshipisthefinaltournamentoftheGolfweekAmateurGolfTour.ThistourconcludeswithaNationalTourChampionshipinwhichtopplayersineachflightcompeteagainstotheramateursfromallaroundthecountry.ThetourchampionshiptakesplaceinHiltonHead,SouthCarolinaandprovidestheamateurgolferswiththeopportunitytocompeteonworld-classgolfcourses.Anatmosphereisprovided“WhereamateursplaylikePros,”asthetour’ssloganstates.TheTourChampionshipattractsabout850amateurgolferstoplayintheChampionship,A,B,C,andDflights.Thesegolfersareeverydayestablishedwhite-collarandblue-collarworkersaveragingover$100,000inyearlysalary.Golfersarepredominatelymaleandspanfromover20differentstatesacrosstheUnitedStatesofAmerica.Onaveragethesegolfersareparticularlyknowledgeableaboutgolf,averaging20yearsofexperienceforparticipatingsurveyedgolfers.It’sclearthattheGolfweekAmateurGolfTourChampionshipprovidesauniqueopportunityforamateurgolfersaroundtheUnitedStates.TheChampionshipprovidesnotonlyapositiveatmospherebutapositiveimpacttoitslocaleconomyaswell.
• Thenetdirecteconomicimpactofthe2015championshiptothelocalareaisestimatedtobe$1,488,944.26.
• Oftherespondinggolfers,theaverageamountspentpergolferduringtheirtimeintheHiltonHeadIslandareaasaresultoftheirparticipationinthetournamentwas$1,745.54.
• Oftherespondinggolfers,theaverageamountspentpergolferperdayduringtheirtimeintheHiltonHeadIslandareaasaresultoftheirparticipationinthetournamentwas$277.51.
ThisreportisacomprehensiveoutlineofthemarketresearchandeconomicimpactrepresentedattheHiltonHeadGolfweekAmateurGolfTourChampionship.Eachdetailbrieflyobservedinthissummaryisoutlinedinfurtherdetailwithgreaterexplanationthroughoutthereport.
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SectionII BackgroundandMethodologies
Toprovidecontextfortheanalysisinthisreport,thissectionbeginswithahistoryoftheHiltonHeadGolfweekAmateurGolfTourChampionshipfollowedbyadescriptionofitscurrentoperations.Itconcludeswithdiscussionsonthemethodologiesusedinthisresearch.
OrganizationalStructureEveryfall,HiltonHeadIslandholdstheGolfweekAmateurGolfTourChampionship.Thetourchampionshipisthelasteventofthe44tournamentsheldacrossthecountry.Awiderangeofflightsareavailabletoaccommodatevariousplayerabilities;casualgolfersandsemi-professionalsalikecanparticipate.
HiltonHeadGolfweekAmateurGolfTourChampionshipLocatedatthesouthernmosttipofSouthCarolina,thescenicHiltonHeadIslandareaisonlya20-minutedrivefromI-95.
History
Thetourwasestablishedin1995withthepurposeofprovidingamateurgolfersofallages,sexes,andhandicapstheopportunitytocompeteinstroke-playgolftournamentsonaregularbasisintheirlocalarea.In2015,thetourconsistedofmorethan40differenttourslocatedallaroundtheUnitedStates.ThetourconcludeswithaNationalTourChampionshipinwhichtopplayersineachflighttesttheirskillsagainstotheramateursfromaroundthecountry.Throughthiscompetition,theGolfweektourpromotesthesportofgolfbyprovidinganatmosphereoffriendly,fair,andwell-managedcompetitionforamateurgolfersinthepursuitofexcellence.
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OverviewofOperations
Thetopplayersineachlocalflight,basedonthepointsearnedduringtheseason,areawardedtheopportunitytocompeteintheNationalTourChampionship.Playersfinishingtheseasoninthetoptenpointsstandings(andties)intheChamp&Dflightsaswellasthetop15pointsstandingsintheA,B&CflightsoftheirlocaltourqualifyfortheNationalTourChampionship.TobeeligiblefortheNationalTourChampionship,playersmusthavecompetedandreturnedvalidscoresforatleast4tournamentrounds.TheTourChampionshipisheldinHiltonHead,SouthCarolina,anddrawsover850playersfromaroundthecountry.
HandicapParameters
Anyrulingsandtermsofplay,includingpaceofplay,willbedeterminedbycommitteeandwillbegovernedbythe2015USGArulesandregulationsofgolfguidelines.Theflighthandicapbreakdownisasfollows:ChampionshipFlight
0-3.9
AFlight 4-8.9BFlight 9-13.9CFlight 14-18.9DFlight 19andabove
CompetitiveAdvantage
TheHiltonHeadGolfweekAmateurGolfTourChampionshipoffersmanyadvantagesoverthe40+annualamateurgolftournamentsheldwithintheU.S.
● ThelargestintheentireUnitedStatesforamateurgolf
tournaments,withthechampionshiptourbeingheldinthescenicHiltonHead,SouthCarolina.
● Therearefiveflightclassesallowingforawiderangeofskilllevelstobeaccepted.
● Thetouroffersvariousdifferentgolfcourseswithvarying
difficulties.
● Reputablesponsors:Taylormade,Golfweek,andEdwinWatts.
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MethodologySurveyswereusedastheprimarymeansofgatheringtherequestedinformation.Multiplesurveyswerepreparedintheweekspriortothetournament.Theyweregiventotheparticipantsthroughouttheweekofthetournament.Thesurveyswereusedtogatherdemographicinformationaboutthegolfersparticipating,aswellastheestimatedlocaleconomicimpact.Inall,threedifferentsurveyswerepreparedforthetournamentparticipants.The“First-daySurvey”and“ClipboardSurvey”wereemployedusingpaperandclipboards.The“E-mailSurvey”wascompletedonlinethroughthesurveytoolSurveyMonkey.SeeAppendixBforcompleteoutlinesofthefollowingsurveys.
First-daySurveyThe“First-daySurvey”wasconductedWednesdayandThursdayduringthetournament.Inall,thissurveyconsistedof10questionsononepage.Internsworkedthroughoutthetwodayspassingthesurveysouttogolfersduringthetournamentregistration.Thesurveysaskedquestionssuchaswheretheywerefrom,howmanypeopletheywereattendingwith,whetherornottheyhadattendedthetournamentbefore,andhowmuchmoneytheywereplanningtospendwhileinattendance.Thepreliminarygoalofthe“First-daySurvey”questionswastofindouthowmanydifferentareaswererepresentedandhowmuchmoneygolfersplannedtobespentwithinthelocaleconomy.Inall,181ofthesesurveyswerecompletedoverthetwodays.ClipboardSurveyThe“ClipboardSurvey”waspassedouttocompetitorswhileplaywashappeningonFriday,SaturdayandSunday.Thissurveyconsistedof28questionsontwo-pages.Questionsinthissurveyincludedthoseaboutthetypeofequipmentthegolfersuse,andquestionsaboutloyaltytocertainproductsandbrands.Tournamentsponsors,TaylormadeandEdwinWatts,requestedspecificquestionstobeaskedthatwereincludedinthissurvey.Theremainingquestionswereaskedtogainacomprehensiveunderstandingoftheparticipants’demographicinformation.Inall,140ofthesesurveyswerecompletedoverthethreedays.
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E-mailSurveyThelastsurveyconductedwasapost-tournamentsurvey,accessedviamasse-mailaswellasalinklocatedonbusinesscardspassedoutatthetournament.The“E-mailSurvey”wasconductedtofindtheactualamountofmoneyeachgolferspentaswellastheirreactiontothetournament.Withtheinformationgatheredinthe“E-mailSurvey”,wewereabletocomparetheresultswiththe“First-daySurvey”estimatedfigurestotheactualpost-tournamentfigures.Inthe“E-mailSurvey,”questionswereaskedregardingtheactualamountofmoneyspentduringthetournamentbyeachgolferaswellasafewmoredetailedbackgroundquestions.Inall,373surveyresponseswereusedforanalysis.
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SectionIIISurveyResults
SurveyGoalsThegoalofthesurveyprocesswastoobtaininformationfromtheparticipatinggolfersofthetournamenttoprovidedemographicbackgroundandanalysisofthetournament’slocaleconomicimpact.Theresultsofthevarioussurveysareexaminedinfurtherdetailinthefollowingpages. SurveyResponse
Surveyresponsesvarieddependingonthesurveytype.AspreviouslynotedtheFirstDaySurveysaw181responses,theClipboardSurveysaw140responses,andtheE-mailSurveysawresponsesof373.ThisputstheE-mailSurveyataresponserateof44%,whichbyconservativemeasuresiseffective.
Alternative
GolftournamentparticipantswereaskedifthetournamentdidnotoccurwouldtheyhavecometotheHiltonHeadIslandarearegardless.Ofthe181respondents156ofthemrespondedwith“no”leadingto86.2%ofgolfersnotcomingtotheHiltonHeadIslandareaiftheeventwerenotheld.Only24golfersrespondedwith“yes”leadingto13.3%ofgolferscomingtotheHiltonHeadIslandareawithouttheeventbeingheld.Only1golferrespondedwith“maybe”leadingto.5%ofgolfersbeingundecided.Ofthosewhorespondedwith“yes”itwasdeterminedthat54.5%stayedlongerbecauseoftheevent.Ofthegolfersthatresponded,theextensionofdaysontheislandresultedinanaverageof5days.ThisisaresultoftheGolfweekAmateurGolfTourChampionshipbeingheldintheHiltonHeadIslandarea.
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HiltonHeadAmateurGolfTourChampionshipPlayerProfile
Accordingto139responses,the
AmateurGolfTourChampionship
golfers’onaverageclaimedbrandloyaltyof7.5onascaleof1to10with10being
veryloyal.Accordingto140responses,theaveragelengthoftimeagolferatthistournamenthasbeengolfingis20years.Theaveragelengththesegolfershavebeenattendingthe
tournamentwas3yearsand6months.
Accordingto290responses,theaveragehouseholdincomeoftheGolfweekAmateurGolfTourChampionshipgolfers
was$148,700.
Accordingto370responses,96.7%ofgolfersweremalewhile3.3%werefemale.
Accordingto140responses,golfers,onaveragesstayedintheHiltonHeadIslandareaforover5days.Thesegolferscompletedthe
tournamentatarateofover98%.
Accordingto375responses,41%of
golferswoulddefinitelyreturntotheHiltonHeadGolfweekAmateurGolfTourChampionshipeventaftertheirexperiencethis
year.
Accordingto194responses,48.97%of
golferswouldattributedthier
interestininvestinginrealestateintheHiltonHeadIslandareatotheir
participationinthechampionship.
Basedonthe853golfersthatattendedtheHiltonHeadGolfweekAmateurGolfTourChampionship atotalof3,804nightswerespentinhotels/resorts.Thiscalculationisbasedupontheaverageofnightsspentinhotels/resorts(4.46nights)accordingtorespondinggolfers.
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PlayerProfileContinuedGolfersbyState
State AL AR CO FL IL IN KS KY LA MD MI MN MS NC NJ
NumberofGolfers
7 9 6 47 7 17 4 10 25 5 21 2 7 58 2
State NM NY OH PA SC TN TX UT VA WV
NumberofGolfers
2 7 10 4 30 20 8 4 27 1
Basedonthegolfersthatrespondedtothisquestion,25statesacrosstheUnitedStateswererepresentedattheHiltonHeadGolfweekAmateurGolfTourChampionship.ThetopfiverepresentedstatesincludeNorthCarolinawith58participatinggolfers,Floridawith47participatinggolfers,SouthCarolinawith30participatinggolfers,Virginiawith27participatinggolfers,andLouisianawith25participatinggolfers.Theparticipatinggolfers,accordingtotherespondents,traveledfrompredominatelycentralandeasternstates.
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EdwinWattsisaworldwidegolfshopcompanythatoffersvariousdifferentgolfrelatedproducts.ThefollowingtablesoutlineresponsesfromHiltonHeadGolfweekAmateurGolfTourChampionshipgolfersregardingEdwinWattsbasedquestions.WheredidyoupurchaseyourgolfequipmentontheHiltonHeadIsland?Location PercentageofTotal
Responses(128TotalResponses)
PercentageofThoseWhoBoughtEquipment(49Responses)
Didnotpurchasegolfequipmentontheisland
61%
EdwinWatts 20% 53%Other 8% 22%CountryClubs 6% 16%GolfHeadquarters 3% 8%Ofthe49respondentswhoboughtequipmentontheislandwhileparticipatinginthetournament,53%ofthemboughtequipmentatEdwinWatts.AreyoulikelytovisitEdwinWattsGolfwebsitewhenconsideringapurchase?Response NumberofResponses
(140TotalResponses)Percentage
Yes 98 70%No 42 30%Ofthe140golfer'swhorespondedtothisquestion,70%ofthemarelikelytovisittheEdwinWattsGolfwebsiteiftheyareconsideringpurchasingequipment.
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DoesEdwinWattscarryamixofproductsthatappealtoyou?Response NumberofResponses
(137TotalResponses)Percentage
Yes 119 87%No 18 13%InadditiontoseeingthatgolfersarelikelytovisittheEdwinWattsGolfwebsite,wecanseethat87%ofgolferswhoweresurveyedarepleasedwiththemixofproductsofferedbytheEdwinWattsGolfwebsite.DoyouknowaboutEdwinWattsGolf90-Day,100%SatisfactionGuarantee?Response NumberofResponses
(140TotalResponses)Percentage
Yes 87 62.1%
No 53 37.9%WhenaskedaboutEdwinWattsGolf90-Day100%satisfactionguaranteeonly62ofthegolfersaskedsaidtheywereawareoftheguarantee.DoyoureceiveemailcommunicationsfromEdwinWattsGolf?Response NumberofResponses
(138TotalResponses)Percentage
Yes 65 45.7%No 75 54.3%Ofthe138golferswhorespondedtothisquestion,only46%ofthemreceiveemailcommunicationsfromEdwinWattsGolf.
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DoyoureceiveEdwinWattsGolfmailcatalog?Response NumberofResponses
(140responses)Percentage
Yes 41 29.3%No 99 70.7%Whenaskedthequestions“DoyoureceiveEdwinWattsGolfmailcatalog?”only29%ofthe140respondinggolfersreceiveEdwinWattsGolfmailcatalog.
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TaylormadeisGolfCompanywithamissionto“CreatetheBestPerformingProductsintheWorld”.ThefollowingtablesoutlineresponsesfromHiltonHeadGolfweekAmateurGolfTourChampionshipgolfersregardingTaylormadebasedquestions.Whichbrandofgolfballdoyouprefer?Brand NumberofResponses
(137TotalResponses)Percentage
Nopreference 7 5%Titleist 60 43%Bridgestone 17 12%Callaway 15 11%Taylormade 14 10%WilsonStaff 5 4%Srixon 5 4%Nike 4 3%TopFlight 3 2%Other 7 5%Thistableshowsthat43%ofthegolferssurveyedpreferTitleistgolfballstoanyotherbrandofgolfball.Only10%ofthegolferssurveyedpreferredTaylormadegolfballs
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Howoftendoyoureplaceyourgolfclubs?TimePeriod NumberofResponses
(139TotalResponses)Percentage
Never 5 3.6%Semi-Annually 10 7.2%Yearly 26 18.7%2-3Years 18 12.9%3-4Years 12 8.6%4-5Years 2 1.4%5Years 6 4.3%10Years 2 1.4%Other 58 41.7%Ofthegolfer'ssurveyed,41.7%ofthemdonotreplacetheirgolfclubsatagivenperiodsoftime.Thenextlargestpercentagesofgolfersreplacetheirgolfclubsyearlyandaftertwotothreeyears.Whatisyourpreferredgolfbrand?Brand PercentageofTotal
Responses(129TotalResponses)
PercentageofThoseWhoHaveaPreferredBrand(94Responses)
Nopreference 27% Taylormade 17% 23%Titleist 14% 19%Callaway 13% 18%PING 7% 10%Nike 7% 10%Mizuno 4% 5%WilsonStaff 2% 2%Adidas 2% 2%Cobra 2% 2%Other 6% 9%Ofthegolfer'ssurveyedwhohadapreferredgolfbrand,thetopthreebrandswereTaylormade(23%),Titleist(19%),andCallaway(18%).27%ofthegolfer'ssurveyedhadnopreferredgolfbrand.
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Whattypeofplatformdoyouconsumemostofyourgolfmediaon?
Television(41.1%),Computer/Laptop(27.3),andMobiledevice(15.8),arethemostcommonwaysthatthegolfer'ssurveyedconsumedgolfmedia.Magazinesheldthelowestpercentagefornon-combinationresponses.Itisalsoimportanttotakeintoconsiderationthecombinationresponsesastheyaddtothetotalsofthesingleplatformresponses.Whatisyourmosttrustedwebsiteforsportsandnews(outsideofgolf)?Website NumberofResponses
(108Totalresponses)PercentageofTotalResponses
ESPN 60.0%GolfChannel 5.6%Yahoo 5.6%FoxSports 1.9%Other 26.9%ESPNwasthemostpopularwebsiteforthegolfer'ssurveyedastheirgo-toforsportsandnewsoutsideofgolf.The"Other"categoryheld26.9%ofresponses,whichwasthenexthighestpercentageamongsurveyedgolfers.
Platform NumberofResponses(139TotalResponses)
PercentageofTotalResponses
Television(TV) 57 41.1%Computer/Laptop 38 27.3%Mobiledevice 22 15.8%Magazine 8 5.8%TV/Mobiledevice 1 0.7%TV/Computer/Laptop 2 1.4%TV/Magazine/Mobile 1 0.7%TV/Magaine 3 2.2%Magazine/Mobiledevice 2 1.4%Other 5 3.6%
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WhatisyourfavoriteGolfPublication?Publication NumberofResponses
(102TotalResponses)PercentageoftotalResponses
Golfweek 56 55%GolfDigest 25 25%GolfMagazine 16 15%GolfChannel 3 3%None 2 2%Whenasked,“WhatisyourfavoritegolfPublication?”GolfweekwasthepopularGolfPublicationofthesurveyedgolfersat55%.
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OnCoreGolfisagolfcompanyinnovatingthewaygolfisplayedwiththeirhollowmetalcoregolfball.Thecompanylooksto“infusefunandenjoymentintoanamazingsport,whilecontinuingtointroducegamechangingtechnologyandproductsthatremainwithintheRulesofgolf”.ThefollowingtablesandgraphsoutlineresponsesfromHiltonHeadGolfweekAmateurGolfTourChampionshipgolfersregardingOnCorebasedquestions.Whatdoyouthinkisthemostimportantperformanceattributeinagolfball?
Attribute NumberofResponses
(358TotalResponses)PercentageofTotalResponses
Distance 124 34.6%Spin 154 43.1%Bounce 14 3.9%Roll 37 10.3%Feel 23 6.4%Consistency 6 1.7%
OfthesixdifferentattributesthatwereavailablespinwasthemostimportantperformanceattributeamongfromHiltonHeadGolfweekAmateurGolfTourChampionshipgolfersat43.1%.Distancewasthenextmostimportantattributewith34.6%ofrespondinggolfersselectingit.Consistencywastheleastimportantattributewithonly1.7%ofrespondinggolfersselectingit.
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AreyouawareofOnCoregolf’shollowmetalcoregolfball?Response NumberofResponses
(249TotalResponses)Percentage
Yes 117 47%No 132 53%
Ofthegolfersthatrespondedtothisquestion,only47%ofthemwereawareofOnCoregolf’shollowmetalcoregolfball.Whatwouldcauseyoutochangeagolfball?Response NumberofResponses
(144Responses)PercentageofTotalResponses(144Responses)
Performance 103 72%Cost 18 12%Both 23 16%
Whenasked,“Whatwouldcauseyoutochangeagolfball?”themajorityofrespondinggolfersselectedperformanceat72%ofgolfers.Costledtoonly12%ofgolferschangingtheirgolfball.While16%ofgolfersrespondedwithbothperformanceandcostbeingequalfactorsinthedecisiontochangeagolfball.
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DotPLXisacompanythatspecializesinparallaxputters.Thecompanyoffers“theworldsbestputteralignmentsystemthatguaranteesyourheadisdirectlyovertheballandyourstanceissuchthatyourputtingstrokehitstheballontheupswingattheequatortoimpartmaximumrolleverysingletimeyouputt.ThefollowingtablesandgraphsoutlineresponsesfromHiltonHeadGolfweekAmateurGolfTourChampionshipgolfersregardingDotPLXbasedquestions.Haveyouevervisitedwww.dotputter.com?
Ofthe243respondinggolfers,only9.5%hadevervisitedDotPLX‘swebsitewww.dotputter.com.Ofthegolfers,90.5%hadnevervisitedthewebsite.
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HaveyouheardofDotPLXparallaxputter?
Ofthe242golfersthatrespondedtothisquestion,only31.8%ofthegolfershadheardoftheDotPLXparallaxputter.68.2%hadneverheardofthisputter.
Whatdoyouthinkisthemostimportantattributeofaputter?Attribute NumberofResponses
(393TotalResponses)PercentageofTotalResponses
Weight 133 33.8%HeadShape 103 26.2%ShaftLength 61 15.5%ShaftPosition 52 13.2%Feel 44 11.2%
Weight(33.8%)andHeadShape(26.2%)werethemostimportantattributeofaputteraccordingtothe393golferswhoansweredthisquestion.Thefeeloftheputterwastheleastimportantattributewithonly11.2%ofgolfersselectingit.Approximatelyhowmuchdoyouspendonasingleputter?Ofthegolferssurveyed,theaveragepriceagolferwaswillingtopayforaputterwas$201.41.Thehighestanyonewouldpayforaputteroutofthegolferssurveyedwas$500.00andthelowestwas$40.00
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AreyouawarethataDotPLXputterguaranteesthebestputteralignmentsystem?
Ofthe240golfersthatrespondedtothisquestion,only21.3%wereawarethatDotPLXputterguaranteesthebestputteralignmentsystem.78.7%werenotawareofthis.
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SectionIVEconomicImpacts
GrossVersusNetImpactHoughtonCollegeConsultingGroupwasaskedtomeasurethecontributionoftheHiltonHeadGolfweekAmateurGolfTourChampionshipin2015onthelocaleconomy.ToonlystatetheeconomicimpactofspendingbytheAmateurGolfTourChampionship,participantsandvisitorswouldproduceapresentationof“gross”economicimpacts.Thisanalysismeasuresthe“net”economicimpact.ThisrequiresthatonlyspendingattributedtotheAmateurGolfTourChampionshipisnew(orwouldnothaveoccurredwithoutthepresenceofthechampionship)totheHiltonHeadIslandarea.Thismeansthatspendingconcernstakenintoconsiderationareasfollows:
● Spendingbynon-localvisitorsorparticipantsthatoccurredlocallybecause
oftheAmateurGolfTourChampionshipisincluded.
● SpendingbythosewhowouldhavecometotheHiltonHeadIslandarearegardlessoftheAmateurGolfTourChampionshipatthistimeisexcluded.
● Spendingbylocalvisitorsorparticipantsthatwouldnothaveoccurredin
theareawithoutthepresenceofAmateurGolfTourChampionshipisincluded.
Neteconomicimpactestimatesarenotablysmallerthangrosseconomicimpact.However,neteconomicimpactproducesamorerealisticestimateoftheeconomicimpactsoftheAmateurGolfTourChampionship.Thiswillallowamoreaccurateanswertothequestion,“HowistheHiltonHeadIslandAreaeconomyaffectedbytheHiltonHeadGolfweekAmateurGolfTourChampionship?”
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EconomicImpactsbyType
DirectImpactDirectimpactisthemeasureofdirectoractualrevenuegeneratedbytheHiltonHeadGolfweekAmateurGolfTourChampionshipmostcommonlythroughthelocalspendingbyparticipantsandvisitorsasoutlinedbythespendingconcernsforconsideration.TheimpactrepresentedbyourreportgivesnumericalvaluesforonlytheestimateddirectimpactoftheHiltonHeadGolfweekAmateurGolfTourChampionship.
IndirectImpactIndirectimpactshowcasesadditionalinputpurchasesmadebylocalbusinessesthatarenotnecessarilyinvolvedwiththeHiltonHeadGolfweekAmateurGolfTourChampionshipasaresultofthedirectimpact.Thisrequiresamultipliereffecttobetakenintoconsiderationforanumericalvalue.
InducedImpactInducedimpactisthefinalimpactwhatoccursasaresultoflocalbusinessowners,suppliers,andemployeesspendingadditionalincomethattheyearnedasaresultofthedirectandindirectimpacts.Thisrequiresamultipliereffecttobetakenintoconsiderationforanumericalvalue.
EconomicMultipliers
EconomicMultipliersareusedtocalculatethetotalimpactofanevent.Multipliersaregenerallyprovidedthroughexpertjudgment,modelsandsoftwaresuchasIMPLAN.Thetotalimpactequalsthedirectimpactplustheindirectimpactplustheinducedimpact.Thistotalimpactcanbecalculatedmoresimplywiththetotalimpactequalingthedirectimpactsmultipliedbythemultiplier.
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OtherConsiderations
TheHiltonHeadIslandareaseespeaktourisminthesummermonths.TheHiltonHeadGolfweekAmateurGolfTourChampionshipoccursinOctoberofferingasmallerpeakineconomyinthedownseasonoflocaltourism.ThedirecttakeawayfromthiswouldbethattheHiltonHeadGolfweekAmateurGolfTourChampionshiphasapositiveeconomicimpactonthelocalarea.
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IndustriesAffectedbyGolfweekAmateurTourChampionship
Itcanbeestimatedthattheaboveindustrieswouldseedirect,indirectandinducedeconomicimpactsbasedonthenatureofthistournament.ThisisnotafullycomprehensivelistofallindustriesthatcouldpotentiallybeaffectedbytheHiltonHeadGolfweekAmateurGolfTourChampionship.However,itattemptstoofferaconservativescopeofindustriesaffectedbythetournament.
DirectImpactofSampleAttendeeSpendingSpendingType AmountSpent($)
(Basedon284Golfers)TotalAmountSpent $495,732AverageAmountSpentPerGolfer $1745.54AverageAmountSpentPerDayPerGolfer
$277.51
Basedon284respondinggolfersnearly$500,000wasspentbythosegolfersduringthecourseoftheHiltonHeadGolfweekAmateurGolfTourChampionshipin2015.WithstatisticalanalysisthedirecteconomicimpactcanbeestimatedtorepresentthetotaldirecteconomicimpactthetournamenthadontheHiltonHeadIslandareain2015.
IndustryAffected PotentialEconomicImpactFoodandBeverage Direct,Indirect,InducedImpactBarsandRestaurants Direct,Indirect,InducedImpactRetail Direct,Indirect,InducedImpactLodgingandTourism Direct,Indirect,InducedImpactTransportation Direct,Indirect,InducedImpactSport(Golf) Direct,Indirect,InducedImpact
HHEconomicImpactAnalysis HoughtonConsultingGroup Page28
EstimatedTotalDirectEconomicImpactoftheChampionshipSpendingType AmountSpent($)
(Basedon853Golfers)TotalAmountSpent(DirectImpact) $1,488,944.26AverageAmountSpentPerGolfer $1745.54AverageAmountSpentPerDayPerGolfer
$277.51
Basedonthe853totalgolfersthatattendedtheHiltonHeadGolfweekAmateurGolfTourChampionshiptheestimatedtotaldirecteconomicimpactthetournamenthadontheHiltonHeadIslandareaisnearly1.5million.ThisimpactonlyrepresentstheestimatedtotalnetdirectimpactthetournamenthadontheHiltonHeadIslandarea.WithamultipliertakenintoaccountthisamountwouldbelargerandwouldincludebothindirectimpactandinducedimpactassociatedwiththeHiltonHeadGolfweekAmateurGolfTourChampionship.Thecombinationofthedirectimpact,indirectimpactandtheinducedimpactwouldprovideacomprehensivetotalneteconomicimpactthetournamenthadonthearea.Thisonlyrepresentsthenetdirectimpactsofthechampionship.FormoreinformationregardingthestatisticalconfidenceofthisanalysisrefertoAppendixA“StatisticalAnalysis”.
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DirectImpactbyState
TheabovegraphoutlinestheamountspentpergolferperstateduringtheHiltonHeadGolfweekAmateurGolfTourChampionshipaccordingtothesamplesizeofgolfersthatwasobtained.
StateAverageAmountSpentPerGolferPerState($)
AL $1340AR $3137.5CO $2933.33FL $1627.92IL $1483.33IN $2060KS $1962.5KY $1888.89LA $2265MD $1890MI $2068.75MN $2700MO $2360
StateAverageAmountSpentPerGolferPer
State($)MS $2840NC $1178.52NJ $800NM $3000NY $1666.67OH $3610PA $1525SC $1112.5TN $1750.56TX $2080UT $2362.5VA $1768WV $1600
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HiltonHeadGolfweekAmateurGolfTourChampionship’scontributiontotheHiltonHeadIslandareaeconomyin2015NeteconomicimpactanalysisallowsfortheexaminationoftheHiltonHeadGolfweekAmateurGolfTourChampionship’scontributiontotheHiltonHeadIslandareaeconomyin2015.Fromaneconomicmeasure,thenetcontributionoftheHiltonHeadGolfweekAmateurGolfTourChampionshipwaspositive.ThisiswiththeconsiderationofexcludingspendingthatwouldhaveoccurredintheabsenceoftheHiltonHeadGolfweekAmateurGolfTourChampionshipinthelocalarea.Thenetdirecteconomicimpacttotheareaisestimatedtobe$1,488,944.26.
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AppendixAEconomicImpactAnalysis
Thisappendixsectionprovidesadetailedoverviewoftheanalysismethodsusedtoestimatetheeconomicimpact.Itbeginswithanintroductionintowhateconomicimpactisandhowitcanbemeasured.Thisappendixthengoesontoprovidekeyissuesineconomicimpactanalysis.Itreiteratestheimportanceofmeasuringnetimpactratherthangrossimpact.Itthenoutlinestheimportanceofarelevantstudyareaandwhatthisanalysis’relevantstudyareaincluded.Itconcludeswithanoverviewofthedatarelieduponinfurtherdetail.
EconomicImpact EconomicImpactissimplythechangesineconomicactivityinagivenareaasaresultofaninitialchangeinthelocaleconomy.Thisimpactismostcommonlymeasuredthroughchangesinoutput(orsales),income(valueadded),andjobs.
PurposeofMeasuringEconomicImpactAneconomicimpactanalysisexaminestheeffectofaneventontheeconomyinaspecifiedarea.Theeventanalyzedcanincludeimplementationofanewpolicyorproject,ormaysimplybethepresenceofabusinessororganization.Aneconomicimpactanalysisisoftenconductedwhenaninterestedpartyintendstocalculatethepotentialimpactsofaproposedprojectorpolicy.Aneconomicimpactanalysistypicallymeasuresorestimatesthechangeineconomicactivitybetweentwoscenarios,oneassumingtheeconomiceventoccurs,andoneassumingitdoesnotoccur.Thiscanbeaccomplishedeitherbefore,duringoraftertheeventhasoccurred.
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KeyIssuesAffectingEconomicImpactAnalysis
Economicimpactanalysisissometimesviewednegatively.Figurescanbeclaimedasbeingexaggeratedand/orunreliable.Therearetwomainareasofconcernwhenconductingthistypeofstudy.Thefirstissueisthewayinwhichtheanalysisisbeingprepared.Thesecondissueinvolvesspecifyingtheexactgeographiclocationunderconsideration.Conditionseachyeardonotremainconstant.Differencesineventimplementation,attendees,weather,socialtrendsandsoon,canskewnumbersfromyeartoyear.
GrossversusNetImpacts
Grossanalysisisusefulfordiscoveringthemacroeconomicimpactofanarea,takingintoaccountthetotaleconomicimpactoftheregion.ANetanalysisisbetterutilizedtodiscoverthespecificimpactofanewpolicy,business,oreventheld,takingonlytheimpactofthatspecificinstanceontheregionandnotthetotaleconomicimpactofthearea.ThefirststepinanyeconomicanalysisistakingtheGrossnumber.Thekeytodiscoveringtheexactneteconomicimpactonanareaisseparatingcertaindatafromthegrossimpactthattheeventhad.
DefinitionofRelevantStudyArea Definingtheareaofstudyisofparamountimportance.Thisiscertainlythemostimportantfactordictatingthelegitimacyandeffectivenessofthestudy.Contingentuponhowtherelevantstudyareaisdefined;particulareconomiceffectswilleitherbeinternalorexternaltothearea.Thuspeoplemaybeincludedorexcludedunintentionally,skewingthedataandmisrepresentingthepopulationarea.Byexplicitlydefiningtheareaofstudy,thepopulation’sgatheredstatisticaldataispreciselycollected,whichimprovestheaccuracyoftheimpactstudy.
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DataReliedUpon Inordertocompleteaneconomicimpactanalysis,manyformsofdatacanbereliedupon.Oneformofthatdataissurveys.Surveyscanbebothphysicalwritten-outsurveysorcanbecompletedonline.Surveyscanbegiventoattendeesatanevent,localbusinessessurroundinganevent,peoplewholiveinthearearegardlessofwhethertheeventishappeningandsomanymore.Thereisnolimittothedatathatcanbegatheredviasurveys.
Anotherexampleofdatarelieduponduringaneconomicimpactanalysisare
monetaryfiguresgainedfromthelocaltown/cityordinances.Thesefigurescanpointtowhetherornotthelocaleconomyseesaspikeduringtheeventbeingresearched.
StatisticalAnalysis ThestatisticalanalysisusedtoestimatethetotaldirecteconomicimpactoftheHiltonHeadGolfweekAmateurGolfTourChampionshipwasbaseduponatotalpopulationsizeof853golfers.Theconfidencelevelusedforthisanalysiswas95%.Theconfidencelevelreferstotheamountofuncertaintythatistolerableintheanalysis.Higherconfidenceintervalsrequirelargersamplesizesduetolesstolerabilitytotheamountofuncertainty.Themarginoferrorwas5%.Thisaccountsfortheamountoferrorthatisallottedwithintheanalysis.Theresponsedistributionwas50%.
Withthesestatisticalrestrictionsaminimumsamplesizeof266golferswouldberequiredtoproducestatisticallysoundanalysis.Thesamplesizeusedforthisreportwaswellabovethisminimumat284golfers.Thismeansthattheestimatedresultscanbedeemedstatisticallysoundwiththeserestrictions.Netandgrossimpactconsiderationsweretakenintoconsiderationduringthepreparationofthetotalnetdirecteconomicimpact.
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AppendixBOutlineofSurveys
FirstDaySurveyFirst Day 10 questions Survey
1. How long have you been planning to attend this tour? ______________
2. Would you have come to the Hilton Head area at this time even if this event had not been held? Yes________ No______
3. If “Yes” (in 2), will you stay longer in the Hilton Head area than you would have done if this event had not been held? Yes_________ No______
4. If “Yes” (in 3) How much longer? ______________________Days
5. Would have come to the Hilton Head area in the next two months if you had not come at this time for this event? Yes_________ No_______
6. What is the zip code at your primary home address? ______________
7. How many people (including yourself) are in your immediate group? (This number should include the people for whom you typically pay the bills. E.g. family and close friends) __________people
8. To better assess the economic impact of the Hilton Head Golfweek Amateur Golf Tour
Championship, we are interested in finding out the approximate amount of money you and other visitors in your immediate group will spend. We understand the complexity of this question, but please do your best to answer as accurately as possible. During the course of your visit, what is the approximate amount your immediate group will spend in each of the following categories:
Type of Expenditure Amount Spent in the Hilton
Head Island Area Amount Spent outside the Hilton Head Island Area
Food and Beverages (restaurants, concessions, cafeterias, etc.)
Night Cubs, Lounges & Bars (cover charges, drinks, etc.)
Retail Shopping (souvenirs, gifts, clothing, etc.)
Lodging Expenses (hotel, condos, villa, house, etc.
Transportation Expenses (Personal car, rental car, taxi, hired driver, etc.)
Any other Expenses Please Identify ____________________
9. In the past ten years, how many times have you played at this tournament?
_______________________ times.
10. Would you consider this visit your biggest vacation of the year? Yes____________ No_________
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ClipboardSurveyClipboard Survey
1. How many years have you been golfing?
_________________________years.
2. How many years have you been participating as a golfer in this tournament? ________________________years.
3. What flight are you playing in?
4. Did you bring all of your own golf equipment? Yes________ No___________
5. Have you purchased any golf equipment on the island? Yes________ No___________
6. If yes (in 5), where did you purchase your golf equipment?
7. If yes (in 6), how much did you spend on your golf equipment (in U.S. Dollars)?
8. Have you participated in any practice rounds of golf in Hilton Head? Yes No
9. If yes (in 8), where did you play your practice rounds?
10. Do you know about Edwin Watts Golf 90-Day, 100% Satisfaction Guarantee? Yes No
11. Do you receive email communications from Edwin Watts Golf? Yes No
12. Do you receive Edwin Watts Golf mail catalog? Yes No
13. Are you likely to visit Edwin Watts Golf website when considering a purchase? Yes No
14. Does Edwin Watts carry a mix of product that appeals to you? Yes No
15. Which brand of Golf Ball do you prefer?
16. What type of platform do you consume most of your golf media on?
17. What is your favorite Golf Publication?
18. How often do you replace your equipment?
19. What is your most trusted website for sports and news (outside of golf)?
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20. On a scale of 1 to 10, 10 being very high 1 being very low, how would you
classify your brand loyalty?
21. On a scale of 1 to 10, 10 being very high 1 being very low, how would you classify your brand loyalty with Golf brands?
22. Do you have a preferred golf brand?
Yes________ No___________ 23. If “Yes” (in 22), What is your preferred brand?
24. Does anyone else in your immediate group (People in your immediate group are
classified by those for whom you would typically pay the bills e.g. family and close friends) golf? Yes________ No___________
25. If “Yes” (in 24), how many people in your immediate group (including yourself)
are participating as golfers in this event? Yes________ No___________
26. Are you a member of a country club back home?
Yes________ No___________
27. Are you content with the time commitment of the tournament? Yes________ No___________
28. Are you involved in any activities other than golf while on the Hilton Head Island? Yes________ No___________
29. If “yes” (in 27), what other activities are you involved?
30. Would you consider returning to the Hilton Head area for vacation purposes as a result of your tournament experience? Yes________ No___________
31. Are you planning to attend the event for the full duration of the event?
Yes________ No___________
32. If “Yes (in 31), How many days do you plan to spend at the event this year? ___________________Days
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E-mailSurvey LinkUsedforEmailSurvey
www.houghton.edu/golfweek-survey
ThroughHoughtonCollege’scommunicationdepartmentwemadethislinktoredirectthesurveyorstoSurveyMonkeytotakethesurvey.Wedeliveredthislinktothembytwomeans.Thefirstwasthroughabusinesscardandthesecondwasthroughanemailthatwassentouttoallofthegolfersafterthetournament.