Q: What do you do when your market
continues to shrink?
A: You innovate and shrink the amount of competitors!
I spent last Friday night walking around the Toronto
International Boat Show at the Direct Energy Centre and I spoke to many
manufactures’ representatives regarding the products they chose to display and
how customers were responding over the last year, I was specific to the cruiser
yacht market. I am highlighting two
manufactures, Cruisers Yachts™ and SeaRay™, who have chosen to step up their
game in this tough and changing/shrinking market. This is probably why there were line-ups at
each, while SeaRay displayed the 51 Sundancer, I have chosen to highlight both of
their 45 models.
Market leadership requires a manufacture to innovate enough
that a “culling of the herd” then takes place.
Innovation and change is a good thing, for those who survive they find
less competition and greater profitability while the consumer enjoys greater
quality.
Cruisers 45 Cantius
SeaRay 45 Sundancer
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