OPM / 300
March 6, 2013
Dr. Zhen Li
Regal Marine Products
The concept of Regal Marine’s product life cycle applies to new boats every three to five years, and each boat has four stages it goes through. The introduction and the design concept is the most important stage. Once they have a design concept which makes it easy to transfer to a model and make changes as needed by the designers that use a CAD system. The new ideas and designs help the market grow, and the entire market is full of a new design from Regal. The maturity stage of the boat starts when boat lovers have a new boat design and sales start to decline slowly at first and then ends. That is a sign that the life cycle of that design has come to an end, so Regal starts looking at a new design to replace the one that’s going out of style. Regal Marine uses a competitive strategy that if most companies would use might make them as successful, and that would be to listen to their customers as to what they would like to see in a boat. The customer and designer are together at Regal when a new boat is designed or up-graded from existing models to the customers design. This allows Regal to continue to feel the market grow, and staying competitive in the boat world. The brand of Regal Marine sells because there is always something new to add to a boat or a new boat is brought into the market. Regal urges input from customers, suppliers while designing a new product which helps in the initial design of the new product. Regal maximizes it’s time by having the suppliers at hand as to speed up the process which allows for competitive pricing with new features. With new technology at hand now Regal has gone away from the old drawing technique which would take days to produce a drawing of what the boat would look like. Then the model would have to be built foam or clay just so the customer could see what the...
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