Craft Marine Corporation

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CRAFT MARINE CORPORATION 1. How would you characterize the U.S. boating industry?  Industry dollar sales 1999---- $22.2 billion 2000----$25.5 billion 2001----$25.6 billion (Attributed to 13% increase in the price of new boat)  Heavily dependent on general economic conditions (should consider about the influence of 911), reflect personal discretionary income patterns in the US.  Over 100 full-line boat manufactures  No one manufacture holds over 10% industry market share  Many manufactures are privately owned or are part of larger companies that sell a variety of products  Industry sales occur between March and August with April, May, and June being the peak buying months. 2. How is the boat purchase decision made? Target market---- a married male in his mid to later forties with two teenage children (annual household income of a boat owner was $40450) Need recognition--- satisfied customer functional and physical need, customers need boat for fishing, cruising and water skiing. Information search-----friends and relatives 100% Marine dealer 98% Catalog/Brochure 97% Magazine advertising 93% Evaluation of alternatives--- the assistance of a dealer or a salesperson, low price Promotion—trade and customer shows are typically scheduled in the late fall and blend into consumer shows in the winter month. Purchase and consumption---- Influence factors: Quality of construction 100%-----distribution, product Performance 81%-----ads, product Design purpose 78%-----ads, product Value 68%-----price, promotion  Craft Marine had introduced its new hull designs and offshore boats in the fall trade shows and planned to exhibit these innovations during the winter of 2002 at consumer boat

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