Elan and the competition in the ski boat industry

Companies find opportunities in product innovation by providing new products and services to customers. This keeps current customers interested in doing business with the company and has the potential to attract new customers. Sometimes this is done by creating new products, greatly changing an existing product or by just changing the way the current product is presented. Another form of product innovation is branding. By creating a more positive brand image a company can keep the interest of consumers.

There is a bright future for the sport boat industry; the market as a whole is expected to grow in the near future. In 2006 the sport boat market had a total value of $6.9 billion; that value has climbed by 9.3% each year, and that trend is expected to continue for the next 3 years. This means that the sport boat market will be worth $10.1 billion by 2014. This industry rebound is dependent upon the recovery of the market and a general change in attitude of banks to lend more money for boat purchases. In addition to this overall market growth and economic recovery, we can expect sport boat sales to increase due to an increase in the number of boat purchasers. As the baby-boomers reach retirement age, the number of boats sold can be expected to increase causing the overall market to increase at a rate greater than the expected 9.3%. With this explosion in the sport boat market, positive economic activity, and the increased willingness of banks to grant loans, it is expected that the sport boat market will expand beyond all future expectations.4

Firms have developed ways to influence consumer demand which effect supply, one such technique is demarketing or the process of reducing consumer demand for a product to a level that the firm can reasonably supply.

Changing technology may affect the demand for a firm’s products and services but on the other hand due to technology businesses can have systems that provides faster services like the retail businesses have systems that does stock control, cash and customer service.

Industries will look different with all of these forces. The strategy will change based on how these forces look for the organization and industry. These concepts can be applied across the board, and they help organizations from getting trapped into the latest trends and technology out there selling solutions. This matrix really helps to

A consolidated (concentrated) industry, like the cruise industry, typically has a more attractive industry structure, though the nature and extent of competition in consolidated industries is hard to predict. Such industries typically exhibit high entry barriers, differentiated products,

In addition, companies speculate strategies in order to respond to the main competitive forces in any industry by different organizational strategies.

All companies desire to dominate any given market without being outfought or outwitted by rivals. However, the implications of

|the industry and its challenges it is important to understand its various phases of growth so far. |

There are roughly 250 million registered motor vehicles in the United States (Blanco, 2010). This corresponds to almost one vehicle for every citizen. According to the Federal

Marketing has evolved through a change in production and consumption due to the advent of new technology (Ranchhod, 2004). The development of technology has also driven the globalisation of communication. During this period, consumers are facing a variety of choices (Jackson and Shaw, 2009). Thus, companies need to actively embrace these changing factors to grow their business and succeed in the marketplace.

This could be company strengths, current market penistrationpenetration, supplier agreements and simply all of the business and/or customer loyalties that they have had. Also in today’s market the consumers are looking for the “next new thing”. They no longer want an extension of what they already have. The consumers are loyal to a company, but can quickly change focus if a company fails to continue to change to meet their needs and/or demands for change.

The strength of the competition is the changing preference of the customers and it will affect division (OM/LR) as they will have to reshape their products and strategies as well.

If an industry is profitable, it will become a magnet to attract more competitors looking to do same business with us. If it is easy for these new entrants to enter the market, this poses a threat to the firms already competing in that market. Threat of new entrants is one of the forces that shape the competitive structure of an industry (Marc, 2014). A high threat of entry means new competitors are attracted by the profits of the industry and can enter the industry easily. New competitors entering the marketplace can make the market share and profitability of existing competitors more threaten cause the existing competitor to make some changes to existing product quality or price levels. A high threat of new entrance can make an industry more competitive and decrease profit potential for existing competitors whereas a low high threat of new entrance can make an industry less competitive and increases profit potential for the existing

            Other environmental influences, such as competition, may fuel the company’s desire to create more and better products that could well determine their location and standing in the global market. Increase in the number of competitors for the same line of products may mean that there