Regal MarineRegal Marine Essay Example

better. Finally after the have gathered the feed back and used the product life cycle it is time to create a new product for the future of the company. Regal uses a technology called Computer Aided Design in order to complete this process.

The CAD is a neat program that allows the builder or designer to play with different ideas that they received from their customers and consultants and apply... “Regal Marine” In this case assignment I will be discussing product life cycle to Regal Marine products as well as what strategy they use to stay productive. Lastly I will explain the benefits that Regal has gained by using the Computer Aided Design (CAD) technology rather then using traditional drafting techniques. First off Regal has developed a plan or product life cycle of their boat making company. It is a fairly simple process that makes perfect sense.

First they use the introduction of a product, they design it make it and introduce it to the public. Then they add on or help it grow which is the growth part of the life cycle. The third is the maturity or its peak. And finally we have the fourth which is the decline or when the product is at its lowest sales and the customer is looking for new ideas and better products, which in return the process starts again. The strategy that Regal uses is a great one. They use feedback from their customers, dealers and consultants. With that they are able to create and sell a product that is wanted by the market.

Which in return stays hand in hand with their

product life cycle. Once they have put a boat up for sale on the market the let the boat go into its maturity stage and right before it hits in decline stage another product is being placed on the showroom for sale. The way that they make this happen is the feedback that they receive. They strive on ideas of the people that are buying the product to make the product better. Finally after the have gathered the feed back and used the product life cycle it is time to create a new product for the future of the company.

Regal uses a technology called Computer Aided Design in order to complete this process. The CAD is a neat program that allows the builder or designer to play with different ideas that they received from their customers and consultants and apply... The concept of product life cycle applies to Regal Marine because Regal is constantly under pressure to introduce new prod-ucts—and those products have life cycles of relatively few years. As the video suggests, it is a matter of typically less than five years before a boat is out of style and its life cycle terminated.

This is a long life cycle compared to a newspaper or magazine, but if you are the production manager it seems rather short. 2.? Regal Marine uses a strategy of product differentiation, which constantly introduces new products with new innovations and new styling to stay competitive in the luxury performance boat market. 3.? The cost and time saving at Regal Marine through use of CAD is typical of the use of CAD everywhere. It allows a variety

of designs and styles to be tested very economically. The ratio of savings of engineering talent is about four to ne. Most important-ly, it allows them to be creative economically and rapidly. 4.? The payoff from CAD is not only evident in efficiency, crea-tive designs, and styling but by production of the code necessary for the numerical machines, such as the machines used to make the plugs in Washington state and for those applications of the numerical control machines at Regal Marine. CAD also provides, as a by-product, very effective and comprehensive documentation of design variables. [continues] Every product undergoes a Product Life Cycle (PLC).

PLC consists of four stages, introductory, growth, maturity and decline. Each stage has its own characteristics regarding marketing objective, competition, product, price, promotion and place. At Regal Marine, there is always constant pressure to introduce new products. Regal Marine's new product life cycle was lasting relatively only a few years. Less than five years before a boat is out of style and the life cycle is terminated. The concept of product life cycle applies to Regal Marine products as a means of continually introducing new products into its existing line.

Regal Marine's product line consist of 22 models, all in different product life cycle stages, while new models were constantly being added as old models were reaching the end of their life cycles. At Regal Marine, design inputs were being submitted by customers, dealers and consultants, which began the product life cycle. The inputs were immediately going to the styling trends and competition. With the product life cycles having the potential of being only three years, it is

necessary to constantly influx new design ideas to fuel the constant development of new products.

The product life cycle concept helps Regal Marine plan alternate marketing strategies to address the challenges that their products are likely to face. What strategy does Regal use to stay competitive? One strategy Regal Marine uses to stay competitive is by differentiating their products. By delivering constant innovations, unique features and high quality products, Regal Marine has made this strategy very effective. Regal Marine has ensured that quality in their product is given more importance. The company must always have a global view of their operational strategy.

What kind of benefits are Regal achieving by using CAD technology... Regal Marine Introduction Regal marine is one of the leader manufacturers of luxury performance boats in the USA and established in 1967. It is family owned business and sells proudly different kinds of quality products to its customer. It is the largest retail supplier of new and used ski and wakeboats. It has a product line of 22 models such as Malibu ski & Wakeboats, Tabs plate aluminium boats, Mercury outboards and Sterndrives, Dunbier Trailers, Horizon Aluminium boats and Easytow Trailers (Regal Marine, 2008). Implementation of product life cycle concept

Product life cycle concept is applied to Regal marine for the purpose of introducing new products into the existing line of products. It has product line of 22 models and every product is in the different stages of life cycle, as a result of this new products are continuously added because old ones reach the decline stage of their life cycle. The life cycle of Regal marine products begins

with design inputs, which are proposed by dealers, customers and consultants. After the design inputs are received they send to the styling studio in, which the inputs are placed into CAD machines fro the purpose of speeding the process of development.

Various boat designs of existing patterns are always evolved for the purpose of meeting the trends and competition. The average life cycle of Regal marine product is three to five years, so to develop a new flux of ideas is required to stimulate the continuous development of new products. Every product has four stages such as introduction, growth, maturity and decline. Regal marine uses different approaches in the introduction stage of its products (Product Design At Regal Marine, 2008).

Introduction stage: In this stage Regal marine perform different activities such as researches, product development, process development and supplier development from the purpose of introducing the new product in the market effectively. For example Virtual reality. Get help with your essay from our expert essay writers... Growth stage: In this stage Regal marine starts to stabilize product designing, forecasting the capacity for the aim of increasing growth of the new product in an effective manner.

For example Roller Blades. Maturity tage: In this stage Regal marine implement innovative products with high volume and effective measures for cost control to meet out the competition. For example Jet Ski Decline stage: In this stage Regal marine adds new products in the existing product line and terminate the unprofitable products. For example Boeing 727 (Operations Management Design of Goods and Service, 2001). Strategy for competition In the present scenario every organization wants to develop some

effective methods and policies in order to compete successfully to the competitor. Regal marine also develop some strategies to face the competition effectively.

It continuously adds new products with innovative features in the existing product line of the company. It allows all stakeholders to submit their ideas on the designing of product. It implements all of those designs in the models, which are in demand and trends. Regal marine analyze the demands & needs of customer and after it implement the suggested techniques within the manufacturing of the new product (Kotler, 2002). It uses computer added technology for the purpose of designing and development, which is an effective technology and assist it to compete in the marine industry effectively.

Benefits of computer added technology (CAD) Regal marine uses computer added technology(CAD) for designing and development process of the product instead of traditional drafting technique. It is a powerful digital technology, which facilitate the process of standardization of various components involved in the manufacturing of boats and also enforces the design testing for analyzing their ability to manufacture. This technology offers different advantages, which assist the company to gain a competitive position in the market.

Improved product quality: The quality of Regal marine products has increased after the use of CAD technology in the manufacturing process. On the other hand traditional drafting technology dose not enhance the quality of product in broader way. Reduced production cost: Production cost is the important factor, which determines the success or failure of any company. CAD technology makes it possible for the company to reduce cost of production, which is another benefit for the Regal marine to

use this technology instead of traditional drafting technology.

Availability of database: Having a pull of important data is good for any company as it foster the effectiveness of information system, which assist the company in analysis of various factors. After the use of CAD technology Regal marine has develop an efficient database, which is necessary for the growth. On the other hand traditional drafting technology does not provide effective database, so it is not as good as CAD technology. Shorter design time: CAD technology reduced the time involved in the designing of the product, which assist Regal marine to accomplish the manufacturing process timely.

On the other hand traditional drafting technology involves greater time in the process of designing and development(Operations Management Design of Goods and Service, 2001). Innovative capabilities: After the use ofCAD technology in the designing and development process, innovative capabilities have developed, which assist the Regal marine to achieve the goal of leading the business. It is not possible with traditional drafting technology as it does not have any innovative methods for the development of new capabilities. Conclusion

From the above discussion it is concluded that to face the competition effectively it is necessary for the company to evolve innovative methods of manufacturing the products. Regal marine, which is a leader in the manufacturing of boats also uses innovative methods and implement new technologies in the designing and development process of the product. As a result of this it is possible for the company to meet the increasing customer demands and needs in an effective manner. It uses CAD technology in the designing process, which offers various benefits to

the company and assist it to achieve goals and objectives effectively.