Table of contents:
I. Introduction 2
II. Background 2
III.1. Analysis of the present marketing situation 3
1. Internal (business related) information 3
2. External (market related) information 4
III.2. Strategic imperatives 6
III.3. Principal assumptions 7
III.4. Preliminary marketing objectives 7
III.5. Target market selection 8
III.6. Positioning statement 9
III.7. The marketing mix concep 10
III.7.1. Product 10
III.7.2. Distribution 11
III.7.3. Price 12
III.7.4. Promotion 12
III.8. Implementation and control 13
III.9. Budget 14
IV. Conclusions 14
Morris Yacht Company was established by Tom Morris, who launched this enterprise in 1972 and was joined by his son Cuyler in 1995. A life long love of sailing for Tom and Cuyler has spanned 60 years. Over the years they have expanded grown, and today are known as one of the most successful yacht companies in the United States as well as a company offering luxurious products with great quality.
Morris Yachts is a well-established, financially successful company with a strong reputation for quality and performance, and loyal and knowledgeable customers.
The company has a reactive approach to selling, which is in part due to the little direct competition in its principal target market.
Morris Yachts has grown steadily over the years building a range of semi-custom finished sail and powerboats which now number close to two hundred.
Its products, high-performance yachts and boats, are made to order with a delivery time of 9-15 months, while prices are negotiated individually with clients, depending on the boat specifications.
As Morris Yachts has grown so have their services and facilities. Today, the family business has expanded into a complete yacht service organization including brokerage, chartering, winter indoor heated storage and custom yacht construction.
Although the demand for expensive luxury goods declined in the 1980s, the company faced...