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Golfsmith Giving Away $1M In Callaway Drivers Due To Phil's Win
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Updated: Fri 4/16/2010 12:25 pm
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As a result of Phil Mickelson winning The Masters, golf retailer Golfsmith
will be "giving away $1[M] in new Callaway drivers," according to Darren Rovell
of CNBC.com. Consumers who "either walked into a Golfsmith store and registered
for the promotion or bought a new Callaway driver between March 10 and April 7
... will now get their driver for free." Those who bought drivers "will
automatically be sent a check in the mail," while those who "put their name in
the sweepstakes will either receive a Golfsmith certificate or be mailed an
actual Callaway driver."
Golfsmith insured the promotion, but company officials
"won't say how much they paid for the premium." The premium is "not based on the
retail cost," rather it is "based on how much it costs to make the clubs."
Rovell: "At most, it's $500,000 in gross value and the premium is based on the
odds." Golfsmith CEO Marty Hanaka said that "based on the odds for Mickelson to
win, the premium paid was less than 10[%] of the total exposure" (CNBC.com,
4/12). GOLFWEEK's Adam Schupak reported based on a "minimum purchase
price of $300, more than 3,000 consumers are eligible for a free driver."
Golfsmith Senior VP/Marketing Matt Corey said that the company's insurance
policy "was based on the promotional period, estimated sales during that time
and the odds of Mickelson winning the tournament." He said the promo is a "brand
differentiator" for the company. Corey: "Why would you buy a Callaway driver at
any other place during the promotion?" Schupak noted Golfsmith plans to "run a
similar promotion at this year's U.S. Open." Corey: "We'll do something just as
special, if not even better. We're working on it" (GOLFWEEK.com, 4/12).
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