1. Golfer Portraits 2011

2. PGA Golfer Portraits SEGMENTS CLUBHOUSE Successful Business Leaders and Golf Enthusiasts HOOKED ON VALUE Value-Conscious Golf Lovers CHARGERS Young and Busy Achievers ON THE FENCE Reluctant Golfers JUNIOR LEAGUERS Affluent, Working Mothers Devoted To Golf TIME TO PLAY Mature and Frugal Golf Enthusiasts STRESSED BUT SERIOUS Successful Younger Women, Skilled But Not Passionate Golfers LEAST COMMITTED Occasional and Unenthusiastic Golfers

3. Segmentation for Men and Women can Continue to be Defined by Levels of Commitment to Golf: The four men’s segments reflect a hierarchy of commitment in terms of skill, enthusiasm and resources. As with men, the women’s segments reflect a hierarchy of commitment in terms of skill, enthusiasm and resources. LEAST COMMITTED TO GOLF Junior Leaguers Time To Play Stressed But Serious Least Committed MOST COMMITTED TO GOLF LEAST COMMITTED TO GOLF Clubhouse Hooked On Value Chargers On the Fence MOST COMMITTED TO GOLF Committed Uncommitted

4. PGA Golfer Portraits MEN’S SEGMENTS Both Clubhouse and Chargers expect to spend more than twice as much on equipment and apparel compared to Hooked On Value or On The Fence. Chargers plan to spend more on lesson than other segments. PLANNED SPENDINGSIZE OF SEGMENT

5. PGA Golfer Portraits WOMEN’S SEGMENTS SIZE OF SEGMENTPLANNED SPENDING Junior Leaguers are the biggest spenders on equipment and apparel, while Stressed but Serious spend more on lessons than other segments.

6. Younger Golfers (<30 Yrs.) offer an appealing marketing target Younger golfers are less passionate about golf than older players and less likely to have taken lessons, yet among those who have established a handicap, they report lower handicaps compared to older players, suggesting perhaps a greater level of commitment. They are more likely to say they will be taking lessons in the next year. They are Image-conscious and less likely to comparison shop or worry about prices. Both men and women tend to be more fashion and image conscious than their older cohorts. They are more apt to engage in new media, particularly for purchase transactions. They perceive themselves to be more innovation seeking and self- indulgent. They appreciate the opportunities present in social and business golf. They are generally less apt to consider golf to be their favorite sport… Thus, they pose a potentially greater attrition risk.

7. There Are Opportunities To Enhance Participation New participation enhancing concepts that warrant further development and study, as suggested by consumer acceptance include: Package programs that integrate lessons and discounted play Flexible playing opportunities including 9-hole play at golf facilities Frequent play discount programs Trial programs with discounted rates for beginners Women show greater favorability towards a number of potential participation enhancement programs, with particular interest in family golf, social leagues around the workplace and beginner-specific golf courses.

8. PGA Golfer Portraits MEN’S SEGMENTS - GOLFING PROFILE Total MenClubhouse Hooked On ValueChargers On The Fence # Rounds per year 38 40  302413  # Courses per year 6 7  65 4  Member of Private Golf Club 19% 33%  7%  32%  7%  TYPE OF COURSE PLAY MOST OFTEN Private Course 19%31%  7%  28%  11%  Public/Daily Fee 71%59%  83%  63%  79%  Municipal 8% 6% 9%6%10% Handicap* 1513 17  13 18  FREQUENCY VS. YEAR AGO Playing more 27% 23%38%  22% Playing less 28% 22% 31%  23% 34%  Had formal golf lesson 51%66%  49%50% 42%  Golf is “favorite” sport 48%70%  77%  36% 14%  Is an “avid” golfer 33%59 %  36%38% 4%  * Based on those who have a handicap

9. PGA Golfer Portraits MEN’S SEGMENTS - HOW INTRODUCED TO GOLF Most men are introduced to golf by a friend or family. Total MenClubhouse Hooked On Value Chargers On The Fence By a friend32%27%34%29% 35%  By a parent22%25%23%19%  22% I just took it up myself14% 17 %  14%10% By another relative8% 9%8% By a business associate5%6%3%4%6% Through a school program4% 2%5% By a sibling4%3% 5%3% At a business function/outing3%4%2% 6%  I worked on a golf course3%4%5%3% 1%  Through an adult/family program2%1%2%3%1% Through a junior program/clinic1%2%1%2%0% By my spouse/partner1% 2%1% By a golf professional1%0% 3%1% Play Golf America Program1%0% 3%0% Other1% 0%1%

10. PGA Golfer Portraits MEN’S SEGMENTS Young and Busy Achievers Third in the commitment hierarchy Most likely to travel for golf tournaments, but golf is not his favorite sport A spender, not a saver Play on daily fee courses, but also on private courses and a third belong to private clubs Younger, but with highest average income Professional occupations Most likely to be single Shops for golf merchandise at green grass shops and through catalogs Most likely to take lessons in the next year Chargers 26%

11. PGA Golfer Portraits MEN’S SEGMENTS Golfing And Lifestyle Attitudes More likely than other segments to say… I usually play golf with members of my family I would play more golf if it took less time to play I’m a spender, not a saver Golf merchandise at golf course pro shops are competitively priced I will take at least one lesson from a PGA Professional this year I prefer taking golf lessons as part of a group Golf is too time consuming [Not] I wish I had more time to do the things I really want to do Chargers 26%

12. PGA Golfer Portraits WHERE TOOK LESSONSTYPE OF LESSONS TAKEN GOLF INSTRUCTION 2% 6% 13% 14% 19% 24% 25% 28% 48% 76% 1% 5% 11% 12% 17% 21% 18% 22% 20% 58% 68% Other Lesson at a golf retail store Manual training aids Over the internet A multi-day golf school or camp Daily clinics Golf video tapes On course playing lesson Golf books and magazines Group lessons Private lessons Women Men 1% 8% 9% 10% 14% 25% 38% 44% 1% 7% 10% 11% 20% 35% 44% Other Golf Retail store College or university Resort Course Golf School or camp Driving Range Private Course Public course

13. WHAT WOULD ENCOURAGE YOU TO TAKE MORE LESSONS? PGA Golfer Portraits GOLF INSTRUCTION

14. PGA Golfer Portraits CONCEPTS CONCEPT APPEAL (Top 3 Box Ratings) QN1. Below are a number of examples that might impact your desire to play more golf. Assuming that time permitted you to play more, please rate the examples below. Use a scale of “1” to “10”, where “10” means that this would make you extremely likely to play more and a score of “1” means it would not at all make you more likely to play more golf.

15. CONCEPT APPEAL (Top 3 Box Ratings) PGA Golfer Portraits CONCEPTS QN1. Below are a number of examples that might impact your desire to play more golf. Assuming that time permitted you to play more, please rate the examples below. Use a scale of “1” to “10”, where “10” means that this would make you extremely likely to play more and a score of “1” means it would not at all make you more likely to play more golf. CONCEPT APPEAL (Top 3 Box Ratings)

16. PGA Golfer Portraits CONCEPTS HOOKED ON VALUE Average or low interest in most offers and programs. Interested in play 5 rounds, get 50% off next round. Not interested in beginner- oriented concepts, family/social golf programs, or in pay/play-by- the-hour. CHARGERS Very positive to many concepts. Interested in more playing partners and lesson promotions. More interested than others in pay/play- by the hour, free use of clubs, a course geared toward beginners, family programs and childcare at course. ON THE FENCE Average to lower interest in most concepts. < 30 YRS. Similar to Chargers, positive to many concepts. More interested than others in a course geared toward beginners, family programs and childcare at course CLUBHOUSE Fairly positive toward most offers and programs. More interested than others in play 5 rounds, get 50% off next, and social leagues with business colleagues.

17. PGA Golfer Portraits CONCEPTS TIME TO PLAY Average to low interest in most concepts. Especially low interest in options for beginners or for young children. LEAST COMMITTED Average interest in most concepts. Very positive toward reduced fees for beginners and pay/play-by-the- hour <30 YRS. More interested than older players in social leagues, competitive leagues and options for young children. STRESSED BUT SERIOUS Average interest in most concepts, relatively more interested in social and competitive leagues, discounts at golf shop, family-oriented programs JUNIOR LEAGUERS Most positive to nearly all concepts, especially more regular playing partners and spouse wanting to play more.

18. Golf Instruction New Product Info New Product Reviews Tournament Coverage Info on New Courses Info on Golf Vacations %%% Internet344446164552 Mobile233223 Network Television8973566 Cable Television28151436119 Magazines22232731822 For men, the internet has become the dominant source for most golf content, followed by magazines. Network and cable television continued to be relied on for tournament coverage. PGA Golfer Portraits MEDIA BEST SOURCES OF GOLF INFORMATION AND CONTENT - MEN

19. HOOKED ON VALUE 2 nd highest involvement with golf- related television. Average to lower involvement with other media sources, both for golf and in general. < 30 YRS. Less likely than older golfers to watch golf or other sports on TV or to read golf magazines. PGA Golfer Portraits MEDIA CHARGERS High involvement with full range of golf-specific media, but relatively low engagement with non-golf TV, print or internet sources and content. ON THE FENCE Uninvolved with all golf-specific media. Average involvement with other media. HOOKED ON VALUE Most heavily engaged with the full range of golf-specific media. Most likely segment to read business and news magazines and visit news websites. Also, most likely to visit shopping and retail websites.

20. PGA Golfer Portraits MEDIA < 30 YRS. Generally similar to older golfers in their involvement with golf media, but more rely on Golf.com, PlayGolfAmerica.com and Links magazine. JUNIOR LEAGUERS Heavily involved with all golf- specific and general sports media. TIME TO PLAY Heavily involved with golf- specific media, but lower involvement with general sports media. LEAST COMMITTED Not involved with golf-related media. STRESSED BUT SERIOUS Average involvement with golf- related media. Low involvement with internet except for golf content.

21. PGA Golfer Portraits SPORTS AND LEISURE CLUBHOUSE Has wide ranging interests. Likes golfing, attending sporting events, hitting golf balls on a practice range, shopping online, fishing, cooking, casino gambling, investing. < 30 YRS. Particularly enjoys baseball/softball and basketball and video games. HOOKED ON VALUE Likes to golf and watch TV. Average interest in other sports/leisure activities CHARGERS Less likely than other segments to pursue or enjoy most leisure interests. ON THE FENCE Enjoys dining out, surfing the internet and listening to music.

22. PGA Golfer Portraits SPORTS AND LEISURE JUNIOR LEAGUERS Wide-ranging interests. Particularly likes dining out, shopping and travel. TIME TO PLAY Loves to dine out, play with her pets and travel. Has a wide variety of other interests. <30 Yrs. Likes to watch TV, shop and surf the internet. STRESSED BUT SERIOUS Less likely than all other segments to enjoy outside interests. Watching TV, swimming and dining out are her favorite activities. LEAST COMMITTED Average involvement in most leisure activities. Favorites include reading, watching TV, dining out, cooking and walking.

23. PGA Golfer Portraits Q & A

24. PGA Golfer Portraits Mark Black Director of PGA Golf Management University Program Arizona State University Tempe, Arizona 480-727-1912 Mark.Black@asu.edu Mark.Black@asu.edu Paul Metzler Senior Director, Association and Industry Services PGA of America Palm Beach Gardens, Florida 33418 561-624-8433 pmetzler@pgahq.com pmetzler@pgahq.com Contact Information