Firewire Surfboards was launched in 2005 by a group of friends who wanted to create surfboards for just anyone that wanted to go out and enjoy the waves. The claim is that the Firewire surfboards are lighter, stronger, and more flexible than the based competition’s surfboards. In order to keep up with the competition Firewire decided to start making custom surfboards instead of just their usual off-the-rack sizes. Along with making custom surfboards Firewire is doing other things in order to stay ahead of their competition. Channel Islands and Lost Surfboards are Firewires two major competitors. Channel Islands surfboards not only cost more but the performance of their surfboards does not even come close in comparision of Firewires. Channel Islands surfboards not only cost more than Firewires but they do not offer the flex and maneuverability that Firewires does. Lost Surfboards major attribute is that many customers love what they offer and have a hard time with changing the type of surfboard they want to purchase. Firewire’s entrepreneurial team should have known, “their industries size, growth rate, fundamental trends, and major players” (Longnecker, Petty, Palich, & Moore, 2010). With this information they will have a better chance of knowing how their competitors will react to them entering the surfboard industry and can strategize their business plan accordingly. Firewire also needed to make sure they understood who their potential customers were and how best to suit their needs. If they know what their customers are looking for in the product they are selling, then the better chance they have of offering a product that those customers will buy. Firewire’s core competence is that they offer a surf board that offers flex and maneuverability that has never been seen before in the surfboard industry. “Firewires boards are far lighter, stronger and more flexible...
References: Longnecker, J.G., Petty, J.W., Palich, L.E., & Moore, C.W. (2010). Small business management. Mason, OH: Cengage.
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