This paper is about Regal Marine, the way it operates in life cycle, innovation, growth, maturity, and rapid response. This is a company that constructs ship in a growing ship industry. Regal marine makes a thorough research on product availability and need for the same. This helps the company to plan ahead and see on what the market needs which enables them to strategize on the moving product. A few years back, the product in the market was the 3 passenger Rush costing $11,000. It was a powerful boat that had the ability to pull a water-skier. Its products have a life so they get into the market, grow into products that are worthwhile, then later on they die out of the market. This calls for the need for Marine to differentiate and move on to safe guard the company and have a place in the market.
Regal Marines worries a lot about designing new boats because boats have a cycle. Just like animals, they are born, as technology changes they grow and eventually die. Great products are the solutions to success. Regal, having many competitors in the business of boat production works to differentiate its stock and continuously introduces new boats that help keep its life cycle moving. This cycle involves 22 new models.
Process modification and enhancement
The boat industry has seen various modifications starting from the rush, 3 passenger ship, up to the Regal is working towards ensuring that it meets the demands of the contemporary market. As the industry sees a modification of the boats from the small Rush to a 20-foot inboard-outboard boat of performance, and finally it was modified to 42commodore, which is 42 feet.
These modifications result into a life cycle in Regal’s boat production moving steadily and at a moderate speed that sees the Company going.
Regal Marine also identifies main suppliers on board early urging them to participate at the early design stage. The...