Sea Ray Marketing Paper
Sea Ray Marketing Plan
The boating industry has suffered serious revenue losses since the 2008 downturn in the economy. Our strategy for Sea Ray of Knoxville minimizes risk yet strengthens and refines the current marketing campaign. Analysis indicates a concentration on families and communities would coincide with Sea Ray’s current image that “Where land ends, life begins.” Sea Ray is a private subsidiary of Brunswick Corporation. The company sells four product lines which include Sport Boats, Sport Cruisers, Sport Yachts, and Yachts. The company was founded in 1959 and was one of the first to use fiberglass in the construction of recreational boats. To differentiate …show more content…
Alternatively, a growth rate of 4.1% is expected for the period 2011-2016. This projected growth rate is based upon predictions of general improvements in the economy and increased consumer confidence. Several external factors affect boat purchases industry wide:
1. Per-capita disposable income.
2. Prime rate (the rate at which loans are given to make such purchases).
3. Amount of time spent on leisure and sports (time at work has a direct impact).
4. Price of raw materials (A Sea Ray dealer commented that this factor has a large impact). Nearly all variable manufacturing costs in boat building are going up due to the increasing price of oil.
Boat sales fall within a narrow demographic group. Key demographics include baby-boomers who are currently approaching or at their retirement age. They will have a greater amount of leisure time, boosting demand for the industry. Typical boaters in this category would like to trade up in the medium term for a more sophisticated vessel. Environmental factors are driving customers away from dual motor boats to more fuel efficient boats. B. Barriers