Andrea Boville
Mr. Reuter
Economics
6 January 2015
Best Bow Out There?
The appeal of bows apply to a wide range of people, to target shooters, traditional users, to bow hunters. Whether it be a recreational weapon, used to put food on the table or a combination of both, archery is an old sport that is gaining popularity rapidly, especially among women and children (MacQuarrie). While the popularity of archery is growing, the technology is improving as well. Even though “most archers want a bow that has blazing fast performance, a silky smooth draw stroke, very low hand-shock, a generous valley, and high let-off. Most archers also want their bows to be very lightweight, compact, attractive, quiet, forgiving to any flaws in technique, easy to tune, easy to adjust, and affordable for any budget. Unfortunately, this perfect bow just doesn’t exist” (Compound Bow Selection Guide). Just like in almost everything, there are trade offs when looking into bows, not only financially but also in performance.
So when buyers ask what the best bow out there is, the producers will immediately try and sell their flagship bows, which are bows that tend to have the latest bells and whistles, the best performance specs, the coolest graphics, and they'll make all the archers that see the bow jealous. Generally, flagship bows retail for $800-$1,000 or more and that's just for the bow with nothings else on it. Although flagship bows typically represent that best of the market because they are usually the fastest, more times than not it is going to be a more aggressive bow with more hand shock and a harsher draw cycle. If someone is looking for speed and they purchase a flagship bow, there is no doubt that others will be impressed, the owner of the bow will more than likely love it, and the dealers would be happy with the profit they brought in as well (Compound Bow Selection Guide).
The bow market is an oligopoly, with a few big manufacturers such as Bowtech, Hoyt, Mathews, Bear, Parker, PSE and a few others. The manufacturers then sell their product to the businesses and depending on the cost and the demand of particular bows and accessories, the businesses, big or small mark up the price in order to make profit.
I just purchased a women’s bow from Bowtech called the Carbon Rose and when I was making my decision, I had to prioritize the specs I wanted on my bow because I knew it couldn’t be the fastest, lightest, most adjustable bow with a silky smooth draw, so instead I narrowed down what was most important to me when it came to my hunting bow and made sure that the benefit outweighed the opportunity cost. For me the Carbon Rose was the perfect fit and exactly what I was looking for, but for a target shooter or someone wanting a speed bow, they would want to look for something other than this black and anodized purple beast.
The bottom line is that the bow market is very competitive and no matter how much money is spent, there is no bow that will fit the needs and wants of everyone perfectly. The more expensive bows are usually faster and the slower ones are cheaper, but the fact is that no matter if you’re a hunter or a target archer, if you’re good, it doesn’t make a huge difference how fast the bow is. Most people end up going with mid level bows just for the simple fact that they are cheaper but the mid level bows have a lot of perks themselves. The average-speed bows tend to have qualities such as a smoother draw cycle, less hand shock, they may be lighter and there is a possibility of a more generous let off. Yet they do what they have to do; they are fast enough to kill an animal and they are fast enough to shoot a target, which is why, to most people, more matters to them than speed.
MacQuarrie, Jim. “Archery, America’s Fastest Growing Sport.” Geek Dad. Geek Dad, 13
Sept. 2013. Web. 5 Jan 2015.
“Compound Bow Selection Guide.” Hunter’s Friend. Hunter’s Friend, LLC, n.d. Web. 5
Jan. 2015
“Pick of the Week: KW 02 Der neue Carbon Rose von Bowtech.” Boegen Sportweldt.
WordPress, 3 Jan. 2014. Web. 5 Jan 2015.
I agree that there are many different trade offs to consider when purchasing a bow. You have to take into account so many different factors which affect the performance of the bow and have to fit with your own preference. It seems like everything is getting to be more and more like this. Look at cars for instance, you have to pick the right suspension, engine, transmission, seating, radio, roof-rack, etc. There are just so many choices with all kinds of price tags that it is always a good idea to weigh your options and closely consider the trade offs you are willing to make and the ones you are making to get what you want.
ReplyDeleteJust like any product, the higher quality, the more you will have to pay. Based on your post, there appears to be a variety of different bows on the market with specialized perks, such as being faster or having less hand shock. As a buyer, you must prioritize the characteristics of the product, in this case, the perks of a bow. Often times, it is not necessary to buy an expensive, super high quality product when you don’t require all of its characteristics.
ReplyDeleteI never knew that there was such a competitive market for archery bows, and this piece was very interesting while also informative. I was just wondering how much money it takes these producers to make these bows and if that cost corresponds well with the retail price. A lot of the time, with these name brand products sellers can jack up the prices because the consumers will be non the wiser. Again, with these high level bows, do the advantages really match up with the large increase in price? You mentioned that this market was an oligopoly, and if that is so, I find it even more believable that these prices do not represent the practical cost of producing the bow. Personally, I am usually one to pay a little bit more for a more quality product, but sometimes it is hard to tell whether a product is of better quality or simply better marketed.
ReplyDeleteSorry, that was me who posted this. I was logged in to the wrong account.
DeleteAs a bow hunter myself l love looking at bows. Me I'm a Mathews guys. When you look at bows you should understand that the higher speed is going to cost you more. But me when i saw the Mathews I wanted i knew it was the right fit for me. Bows have i big impact on the economy because many people have got into Target shooting, and as well as for hunting. Bows have a good impact on the economy, bows are much safer then guns. But guns can be just as safe as long as you follow the rules. Good job I really liked your topic.
ReplyDeleteI enjoy guns more than bows, louder, more just fun overall. I never really took the time to learn about bows but I do use them and do hunt with them when I feel as if I should. I never really thought bows did much to stimulate our economic growth which I really don't think they do.
ReplyDeleteIt's neat to think that with every hobby there is a wide variety of products to choose from, but none of which are perfect. I never understood why my dad swears by Bowtech over everything else, but after reading this I guess it just comes out to be personal preference. I am also willing to bet, that despite the given limits for each bow, there will still be consumers who purchase things purely based on the brand name.
ReplyDeleteAndrea, I really liked your topic! I have always been a fan of archery, but I don’t own a bow myself. I’ve recently been thinking of purchasing one. However, after reading your post, I realized that I need to do a lot more research before I even think of purchasing a bow. Like Aston said, when looking for a car you have to consider the engine, transmission, etc. When you are going to be spending a lot of money on an important and costly item, like a car, a boat, a bow or a house, one must know what they are purchasing compared to other competing products. Now a day’s consumers don’t research before buying and end up regretting their actions. Awesome job!
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