1. State Regal Marine’s mission in your own words.
The Regal marine has the mission of becoming the unique luxury boat service provider in the world. The firm wants to provide innovative facilities to its customers. They want their customer to enjoy high quality service from their part. They want to expand their business successfully worldwide. They have a mission to increase the quality of their service and business. Their mission is providing quality service to the customer and last as a successful business in the world market. They have the mission of value, quality and satisfaction. They want to be profitable in a business with honesty and integrity.
2. Identify the strengths, weaknesses, opportunities, and threats that are relevant to the strategy of Regal Marine.
Strengths -The strengths of the firm are that it concentrates on innovation which can attract high class customers. The concentration on quality service can keep customer loyalty and brand identity. The connection with large number of supplier is an advantage which can avail them with products at cheaper price. This can also increase their profitability .All these factors make the strategy perfect for brand positioning.
Weaknesses -The weakness is that the firm concentrating on high range super boat markets. Also this strategy demands high investment.
Opportunities – They can target on a middle class customer by making cheaper boat and look out for wide range of customers. They can also opt for materials which are cheaper and take less production and design time.
Threats – The business is fun based and hence can be face problems during economic crisis. During such occasions people spend less on leisure and recreation.
3. How would you define Regal’s strategy?
The firm has chosen differentiations strategy which provides unique service different from their competitors. They want to provide value for what the customer is paying for and the quality expected is the best.
4 .How would each of the 10 operations management decisions apply to operations decision making at Regal Marine?
Location – The firm is placed in Orlando, Florida which is United States. The country has high market for the service provided by the company. United States being a richest country has high concentration of wealthy people. Also the country is a tourist destination which gives much opportunity for the luxury boat service.
Quality – The firm provides luxury boats to its customers. People always look for quality service and products when it comes to leisure and tourism. So it is a high priority among customer who looks for luxurious experience.
Product – The Company has designed, manufactured and marketed 22 boats which mean the business will take place on an expanded form.
Processes – The firm has taken initiative to bring in versatility in production process. Each model is unique and is manufactured in a different assembly line.
Inventory – The firm has good inventory and efficient distribution channels.
Layout – The Company has manufactured each model in different building.
Purchasing – The Company has 120 dealers in United States and 40 in other countries.