Korn Ferry

[revkev]

 

With all due respect I really preferred Hogan tour

 

Why not Hogan tour brought to you by?

 

So the fact that my phone changed my title and wouldn’t let me edit it says what I wanted to.

 

Would a moderator please log on and change the name? Pretty please with sugar on it?

 

My desire was not to disrespect Korn but to respect Ben Hogan.

 

 

Sent from my iPhone using MyGolfSpy

 

[THEZIPR23]

I guess it’s the way of the world now but I’m sick of all these titles being brand names, stadiums, bowl games, etc etc.

[russtopherb]

I honestly had no idea that they even renamed it. 

[GolfSpy MPR]

7 hours ago, revkev said:

Would a moderator please log on and change the name? Pretty please with sugar on it?

Gotcha covered, Rev.

I understand the need for sponsors. And I suppose that in due time, we'll all even learn what Korn Ferry even does.

But one of the basic rules of PR is "Don't do things that will make virtually everyone laugh at you." This fails that test.

[TR1PTIK]

4 minutes ago, GolfSpy MPR said:

Gotcha covered, Rev.

I understand the need for sponsors. And I suppose that in due time, we'll all even learn what Korn Ferry even does.

But one of the basic rules of PR is "Don't do things that will make virtually everyone laugh at you." This fails that test.

They discussed this a bit on the No Laying Up podcast U.S. Open recap episode. Apparently Korn Ferry is an organizational/corporate consulting firm. The NLU guys had a funny take that they should just call it the KFC Tour and refer to the top 25 as "the bucket" LOL. 

[RickyBobby_PR]

Naming rights are big now. It’s exposure and marketing. In lower level tours or venues the organization needs that influx of money to remain viable.

at the higher levels like nba, nhl, nfl and mlb stadiums the companies paying for the rights are using it as a branding and marketing tool. Only they know the roi on the investment and how much it works. Something has to be working as more and more venues get big money to have someone’s name on the facade.

i get what rev is saying about a name associated with a tour and having it say sponsored by, but I think that even then someone is paying to use the hogan name on the tour in his example.  Hooters tour, Nike tour, etc all paid for the naming rights to be called that tour.

[sixcat]

Given the amount of money professional athletes make in this day and time, it's no wonder ownership groups are partnering with corporations more frequently to maximize profit. 

• Adam Scott earned $982,800 for NOT winning the Memorial! 
• The New York Mets pay Bobby Bonilla $1,200,000 per year through 2035 and he retired in 2001!
• The New York Yankees are paying Jacoby Ellsbury $21,142,857 through 2021 and he hasn't played since 2017!
• The Chicago Bears signed Jay Cutler to a $126,700,000 contract and released him less than a year later, owing him all but $14,000,000 of the original contract!  The way the deal was structured, that's $112,700,000 to play for someone else!
• The Washington Redskins gave Albert Haynesworth a $100,000,000 contract where he player 12 total games!

My point is, professional sports franchises are some of the most mismanaged organizations in the history of the world.  And they will continue to be as long as we keep spending our disposable income supporting this abhorrent behavior.  I have a tremendous amount of respect for Billy Beane but even his concepts and practices have been perverted to ridiculous levels.  See the Boston Red Sox and Chicago Cubs payroll!

[RickyBobby_PR]

1 hour ago, sixcat said:

Given the amount of money professional athletes make in this day and time, it's no wonder ownership groups are partnering with corporations more frequently to maximize profit. 

• Adam Scott earned $982,800 for NOT winning the Memorial! 
• The New York Mets pay Bobby Bonilla $1,200,000 per year through 2035 and he retired in 2001!
• The New York Yankees are paying Jacoby Ellsbury $21,142,857 through 2021 and he hasn't played since 2017!
• The Chicago Bears signed Jay Cutler to a $126,700,000 contract and released him less than a year later, owing him all but $14,000,000 of the original contract!  The way the deal was structured, that's $112,700,000 to play for someone else!
• The Washington Redskins gave Albert Haynesworth a $100,000,000 contract where he player 12 total games!

My point is, professional sports franchises are some of the most mismanaged organizations in the history of the world.  And they will continue to be as long as we keep spending our disposable income supporting this abhorrent behavior.  I have a tremendous amount of respect for Billy Beane but even his concepts and practices have been perverted to ridiculous levels.  See the Boston Red Sox and Chicago Cubs payroll!

Players earn what owners are willing to pay. The more money they bring in the more they can spend. No different than any other business. The more a company makes the more opportunity they have to expand and/or pay their employees. Sports has limited rosters so the growth of number of players doesn’t happen but rather the minimum salary goes up and the better players make more money.

if a company is willing to pay a team, a league, a tour, or an event there’s no owner in their right mind that going to turn it down. There’s also the scrouges who reap all the money from tv rights, “profit sharing” etc that don’t spend it on their teams.

it costs money to make money. When the web.com or smaller tours don’t take in the same amount from event sponsors, tv contracts, etc they need to find a way to be viable. Look at the LET, they don’t have a sponsor for the tour and have limited number of events. Their golfers who can’t qualify for lpga events and don’t want to endure the costs and time away from family to go from one Symmetra tour event to another lack opportunity to play pro golf on a regular basis. If they could find someone to sponsor the tour it could become a little more sustainable and look to grow.

[sixcat]

8 minutes ago, RickyBobby_PR said:

Players earn what owners are willing to pay. The more money they bring in the more they can spend. No different than any other business. The more a company makes the more opportunity they have to expand and/or pay their employees. Sports has limited rosters so the growth of number of players doesn’t happen but rather the minimum salary goes up and the better players make more money.

if a company is willing to pay a team, a league, a tour, or an event there’s no owner in their right mind that going to turn it down. There’s also the scrouges who reap all the money from tv rights, “profit sharing” etc that don’t spend it on their teams.

it costs money to make money. When the web.com or smaller tours don’t take in the same amount from event sponsors, tv contracts, etc they need to find a way to be viable. Look at the LET, they don’t have a sponsor for the tour and have limited number of events. Their golfers who can’t qualify for lpga events and don’t want to endure the costs and time away from family to go from one Symmetra tour event to another lack opportunity to play pro golf on a regular basis. If they could find someone to sponsor the tour it could become a little more sustainable and look to grow.

I don't disagree that players earn what owners are willing to pay but owners are also well aware, they can increase prices and fans will pay.  There is no coincidence in the fact that the Philadelphia Phillies gave Bryce Harper a $330 million dollar contract and promptly increased ticket prices by 166% and stadium food and beverage prices by 220%.

"The more money they bring in, the more money they can spend" equates to "fans will pay whatever we tell them to pay!"

The Masters is the only professional sports entity I can think of that hasn't gouged the fans to pay for their gluttony.

[PlaidJacket]

10 hours ago, revkev said:

My desire was not to disrespect Korn but to respect Ben Hogan.

I'm sorry but I don't get this entire topic? can someone clue me in?

[RickyBobby_PR]

18 minutes ago, PlaidJacket said:

I'm sorry but I don't get this entire topic? can someone clue me in?

Korn Ferry is replacing web.com as the sponsor of the tour.

42 minutes ago, sixcat said:

I don't disagree that players earn what owners are willing to pay but owners are also well aware, they can increase prices and fans will pay.  There is no coincidence in the fact that the Philadelphia Phillies gave Bryce Harper a $330 million dollar contract and promptly increased ticket prices by 166% and stadium food and beverage prices by 220%.

"The more money they bring in, the more money they can spend" equates to "fans will pay whatever we tell them to pay!"

The Masters is the only professional sports entity I can think of that hasn't gouged the fans to pay for their gluttony.

Movies, Disney, sports, etc all have prices on the rise and of course fans drive the market and if less fans go to games or visit Disney then they will need to consider changing pricing.

Companies/brands are in the business of making money so as the spend more the ned to charge more is there. Money talks and people like to get that break from life/reality for a few hours and will spend their hard earned money where they find value. Knocking entertainment brands/companies for doing what ever for profit business is designed to do serves what purpose? 

[PlaidJacket]

What the hell is Korn Ferry?

[sixcat]

1 hour ago, RickyBobby_PR said:

Korn Ferry is replacing web.com as the sponsor of the tour.

Movies, Disney, sports, etc all have prices on the rise and of course fans drive the market and if less fans go to games or visit Disney then they will need to consider changing pricing.

Companies/brands are in the business of making money so as the spend more the ned to charge more is there. Money talks and people like to get that break from life/reality for a few hours and will spend their hard earned money where they find value. Knocking entertainment brands/companies for doing what ever for profit business is designed to do serves what purpose? 

Seeing the latest Disney or Marvel film doesn't have to cost $12 per family member.  That's why streaming services are changing the industry as a whole.  Listening to your favorite band doesn't have to cost $15 for a new CD.  Streaming music services have completely changed the industry.  Continue to raise prices, people will invent ways around it.

I spend my hard earned money where I find value!  Most who know me call me a tight-wad and I wear it as a badge of honor.  I'm not influenced by Madison Avenue.  I don't need or desire a refrigerator with a television monitor on the door and access to my home WiFi. I don't need or desire a new car that I can talk to and have it respond back.  Most of those features are the first things that need to be repaired and at great expense.  A bigger house might make you the envy of your peer group but at the end of the day, it's just more empty space that takes longer to clean!

Getting back on the point of sports, I do not find value in paying $500 for my family of 4 to go to a MLB or NFL game.  My point is, major professional sports are pricing out the average family.  If you think my 45 year old self is a tight-wad, the Millennial generation will flip your lid!  So to answer your question, the purpose it serves is my bank account and teaching my children the dangers of "groupthink!"

 

[RickyBobby_PR]

2 hours ago, sixcat said:

Seeing the latest Disney or Marvel film doesn't have to cost $12 per family member.  That's why streaming services are changing the industry as a whole.  Listening to your favorite band doesn't have to cost $15 for a new CD.  Streaming music services have completely changed the industry.  Continue to raise prices, people will invent ways around it.

I spend my hard earned money where I find value!  Most who know me call me a tight-wad and I wear it as a badge of honor.  I'm not influenced by Madison Avenue.  I don't need or desire a refrigerator with a television monitor on the door and access to my home WiFi. I don't need or desire a new car that I can talk to and have it respond back.  Most of those features are the first things that need to be repaired and at great expense.  A bigger house might make you the envy of your peer group but at the end of the day, it's just more empty space that takes longer to clean!

Getting back on the point of sports, I do not find value in paying $500 for my family of 4 to go to a MLB or NFL game.  My point is, major professional sports are pricing out the average family.  If you think my 45 year old self is a tight-wad, the Millennial generation will flip your lid!  So to answer your question, the purpose it serves is my bank account and teaching my children the dangers of "groupthink!"

 

I don’t disagree that many forms of entertainment are expensive and it’s hatd for families to go to multiple games or trips. Also the extent of technology use varies by person/family and that some want as much while others want it all...convenience to some is more important than the cost of it. Power of the purse goes a long way.

As for how/what companies charge imo doesn’t factor into the op. Imo op was more s it the name change and how it sounds/reads and such rather than using a name that is related to the sport and then say presented/sponsored by brand x. While that sounds good someone has to pay for the rights to use the name of whoever for the tour name and it probably doesn’t make sense to pay for that when they can just get paid to have a sponsors name on the tour.

 

 

[sixcat]

37 minutes ago, RickyBobby_PR said:

I don’t disagree that many forms of entertainment are expensive and it’s hatd for families to go to multiple games or trips. Also the extent of technology use varies by person/family and that some want as much while others want it all...convenience to some is more important than the cost of it. Power of the purse goes a long way.

As for how/what companies charge imo doesn’t factor into the op. Imo op was more s it the name change and how it sounds/reads and such rather than using a name that is related to the sport and then say presented/sponsored by brand x. While that sounds good someone has to pay for the rights to use the name of whoever for the tour name and it probably doesn’t make sense to pay for that when they can just get paid to have a sponsors name on the tour.

I disagree with the premise that "how/what companies charge doesn't factor into the op."  As you stated earlier, companies charge (save the Masters) the most they think they can get people to pay for their product.  In turn, they devalue that product by throwing money at anything and everything in hopes that something sticks.  The Olympics are billed as the worlds greatest amateur sports spectacle.  Are they really amateurs?  Who pays for the largest percentage of that revenue?  We do when we buy a box of Wheaties or Kraft Mac & Cheese or Chobani.  Because those companies "support" the US Olympic Teams but pass financial ramifications of that "support" on to us, the consumer.

In terms of golf, I get Korn Ferry's sponsorship of the PGA Tour's leading developmental Tour.  It gets their name front and center with a fan-base they can benefit from as a company.  But the end often doesn't justify the means.  At least not to me!  Golf Channel will show reruns of the days PGA coverage and 80% of the Korn Ferry tournaments will never be televised.  

Of their 28 season long tournaments, 8 are televised.  Is anyone really benefiting from the Korn Ferry Tour naming/branding besides the PGA Tour given they are rarely televised?  Stay tuned to see how much ticket prices to Korn Ferry Tour events go up in the coming weeks and months.  The final cost of anything ultimately lands on us!  That's why Titleist charges $1,200 for a set of irons so the 1% can get theirs free for wearing a hat.

We disagree and that's fine.  I'm honestly not being argumentative.  It's just something I'm passionate about being the tight-wad i am.

[MaxEntropy]

This is a sad and disgusting story and unfortunately for Korn Ferry, their name is in the story, too.

https://www.golf.com/news/2019/06/19/caddie-human-trafficking-evan-vollerthum/

 

[sixcat]

21 minutes ago, MaxEntropy said:

This is a sad and disgusting story and unfortunately for Korn Ferry, their name is in the story, too.

https://www.golf.com/news/2019/06/19/caddie-human-trafficking-evan-vollerthum/

 

Our judicial system doesn't offer enough punishment for some people!  I hate it for Korn Ferry that they are even loosely associated with a piece of garbage like this.

[SouthboundEventually]

For those curious about Korn Ferry, I actually worked with them a few times back when I  was a member of the working world.  I'd say they're most well known for high-level (C-Suite) executive recruiting.  They've expanded into a more general Human Resources/Org. Development consulting firm.  They're very high end and do good work, but I never would have expected to see them sponsoring a professional golf tour.

[fixyurdivot]

On 6/20/2019 at 9:40 AM, PlaidJacket said:

What the hell is Korn Ferry?

My same thought/question.  I'm currently watching the tournament on TGC and kept hearing Korn Ferry and Korn Ferry Tour.  I now know Korn ferry is a consulting business and they have purchased the rights to the Web.Com Tour.

https://golfweek.com/2019/06/24/golf-korn-ferry-web-dot-com-tour/

[fixyurdivot]

So the Korn Ferry Tour it is.  Hey, it could be worse... right?  They could have contracted with say Aflac and we'd be resigned to watching those silly goose commercials for the next 10 years .

https://www.bing.com/videos/search?q=aflac+golf+commercial&view=detail&mid=D4EE30A7826A7CF0D403D4EE30A7826A7CF0D403&FORM=VIRE