Craftmarine
...households buy the boats, typically a married male in his mid or late forties. Fishing was the most popular boating activity, followed by cruising and water skiing. Typically there are infrequent purchases, mostly because of low consumer awareness. Premium product with high quality, which is used for recreational purposes. Finding showed that quality of construction was easily the most important boat characteristic influencing a boat purchase. In most of the decisions regarding buying a boat, the husband was the dominant figure. Market Segment: Geographically boat sales are segmented by state and region. Geographic inland vs. off shore. Demographic family pleasure, which makes up 56 % of the number of models, offered V.S. Other activities, such as cruising, watering skiing. Price: Our products are premium ones, competitively priced, characterized by Price inelastic. Hierarchy of Effects: Awareness stage for the existing products and attention stage for the new products developed. Market penetration: Not very high potential market, however they are striving to expand. Low learning and low awareness characterize this market. Product life cycle: Most of these products are not new to the market, even though changes are constantly made. Growth stage characterizes some of these products. However new models are introduced occasionally in the market, as a results these new innovative products represent the introductory stage. Differentiation: product differentiation based on quality and performance. Distribution: Few high volume dealers in the 2 regions Involvement: Word of mouth is very crucial. Friends and family recommendation is very important as well as dealer’s expertise. Demand: Heavily dependent on general economic conditions, reflect personal discretionary income patterns. Uncertain conditions and situations, such as the September 11 tragedy, might affect the purchase decision. Market Demand (Industry/Company Sales, Market Shares) Industry sales for 2001 were $25.6 b, sales growth is 14% (2000-2001) but fattened for 2002 as the industry overall increased their prices by 13%. Craft marine has about 120.5 m sales for 2001 which is .47% of the overall ind...