Thursday, October 10, 2019
How great websites help improve your business Essay
Mission Statement Our diversity mission is to foster a culture that integrates diversity and inclusion into all aspects of the business in order to further fulfill dreams through the experiences of motorcycling. Ã Vision Statement Harley-Davidson values, embraces and celebrates diversity in order to develop and continuously improve mutually beneficial relationships with stakeholders to fulfill dreams and provide extraordinary customer experiences in an increasingly dynamic, diverse and global market. Ã Objectives Ã Create a viable brand that would effectively compete within the Non-Menthol, Lo-Fi category. Attract more young adult (25-49) male smokers into the Lorillard family. Ã Develop a highly targeted Ã¢â¬Å"Niche BrandÃ¢â¬â¢ that would generate modest share goals. Ã Build strong brand awareness and imaginary. Ã Gain trial and repeat purchase. Create consumer confidence. Ã Strategies MARKET PENETRATION Get some more market share from the existing market, like U. S, U. K, and Japan etc through more marketing techniques like advertising. Harley-Davidson has a good brand name so itÃ¢â¬â¢s easy for them to eat up the competitor market share if they can provide some more customer benefit. PRODUCT DEVELOPMENT Younger generation and female are now coming to this segment so expand the motor cycle segments to younger generation and females. Ã MARKET DEVELOPMENT Harley-Davidson can bring in their vehicle to Asian countries like India and China, because these countries have a high population and the market potential is also high. Ã DIVERSIFICATION Bring new bikes to attract customer and market. Ã INVESTING IN THE BRAND The Company is reinforcing its support of the Harley-Davidson brand, accelerating its ongoing marketing efforts to reach out to emerging rider groups, including younger and diverse riders. In addition, the Company will continue to focus on product innovations targeted at specific growth opportunities with its strong core customer base and new riders. Ã ADJUSTING THE COST STRUCTURE Consolidate its two engine and transmission plants in the Milwaukee area into its facility in Menomonee Falls, Wis. Ã OBTAINING ADDITIONAL FUNDING FOR HDFS The Company said it is evaluating a range of options to provide the necessary liquidity for the wholesale and retail lending activities of Harley-Davidson Financial Services (HDFS) Recommended Mission To be branded as the best motorcycle available in the world. Recommended Vision The best quality motorcycle, motorcycle products and financial services will be provided worldwide is the commitment of Harley-Davidson. Customer satisfaction is our motto and the Harley-Davidson customers can experience the taste of reality of motorcycle dreams by relaying their satisfaction on us. Harley- Davidson is dedicated to use the advanced technology to produce the most superior motorcycle in domestic and international markets. Stay competitive and continue growth worldwide remain profitable and survive is our philosophy. Employees of Harley-Davidson are the foundation of the company and they are the driving force behind the Harley-Davidson name. The total team effort of Harley-Davidson employees is devoted to fulfilling dreams of customers and we believe that there is not a motorcycle riding experience like a Harley-DavidsonÃ¢â¬â¢s. Excellence is our push though our Harley-Davidson bar and shield logo that says superior quality. Honesty and customer loyalty and these morals are the heartbeat of Harley-Davidson organization. Harley-Davidson do our part in supporting all environmental laws in every country we do business. Determination and commitment is the place where Harley-Davidson intends to stay. Ã External Opportunities The European demand for Harley Davidson is the highest in the international market and represents the single largest motorcycle market in the world Women and younger riders are increasing becoming interested in bikes Ã The international heavy weight market is growing and is now larger than the U. S. heavyweight market Market share increasing in Europe and Asia for the last two years Ã Increasing demand in US markets for bike. Buell division needs to continue to produce a quality motorcycle under HarleyÃ¢â¬â¢s brand name. Ã Competitive Profile Matrix: Critical success factor| Harley- Davidson| Honda| | Weight| Rating| Score| Weight| Rating| Score| Advertising| 0. 10| 4| 0. 40| 0. 10| 3| 0. 30| Product Quality| 0. 15| 4| 0. 60| 0. 15| 3| 0. 45| Price Competitiveness| 0. 20| 1| 0. 20| 0. 20| 3| 0. 60| Management| 0. 10| 3| 0. 30| 0. 10| 4| 0. 40| Financial Position| 0. 15| 2| 0. 30| 0. 10| 4| 0. 40| Customer Loyalty| 0. 15| 4| 0. 60| 0. 15| 2| 0. 30| Global Expansion| 0. 05| 3| 0. 15| 0. 05| 4| 0. 20| Market Share| 0. 15| 2| 0. 30| 0. 15| 3| 0. 45| Total| 1| | 2. 85| 1| | 3. 10| Ã External Factor Evaluation Matrix Key External Factors| Weight| Rating| Score| OPPORTUNITIES| | | | The European demand for Harley Davidson is the highest in the international market and represents the single largest motorcycle market in the world| 0. 15 | 4| 0. 60| The international heavy weight market is growing and is now larger than the U. S. heavyweight market| 0. 15 | 4| 0. 60| Women and younger riders are increasing becoming interested in bikes| 0. 10 | 3| 0. 30| Market share increasing in Europe and Asia for the last two years| 0. 05 | 2| 0. 10| Increasing demand in US markets for bikes| 0. 05 | 2| 0. 10| Customers value quality parts| 0. 02 5| 1| 0. 025| THREATS| | | | Harleys ongoing capacity restraints caused a shortage supply and a loss in domestic market share in recent years| 0. 15 | 4| 0. 60| Harleys average buying age is 42 years old and increasing| 0. 05| 2| 0. 10| The European UnionÃ¢â¬â¢s motorcycles noise standards are more stringent than those of Environmental Protection Agencies in theU. S and increased environmental stand| 0. 05 | 2| 0. 10| Some competitors of Harley Davidson have larger financial andmarketing resources and they are more diversified| 0. 05 | 2| 0. 10| Environmental protection laws| 0. 15| 4| 0. 60| Buell division needs to continue to produce a quality motorcycleunder HarleyÃ¢â¬â¢s brand name| 0. 025| 1| 0. 025| Total | 1| | 3. 25| Ã Internal Strength Ã The standard and performance segments of Harley Davidson make up 70% of the European heavy weight motorcycle market. Harley-Davidson operates in two segments: Harley-Davidson motorcycles & related products and HDFS (Harley-Davidson Financial Services). Ã Harley-Davidson is the only major American heavyweight motorcycle manufacturer. Ã Strong brand name. Ã The HOG (Harley Owners Group), which have a 7, 50,000 members worldwide is the industryÃ¢â¬â¢s largest company sponsored motorcycle enthusiast organization. Ã Buell Riders Adventure Group (BRAG) was also formed recent Customization of the bikes, this is Harley-DavidsonÃ¢â¬â¢s major revenue maker. Harley-Davidson has a good marketing division and itÃ¢â¬â¢s divided as dealer promotions, customer events, magazine and direct-mail advertising, and public relations. Ã Internal Weakness Ã High price Harley-Davidson has problems in gaining more market share in some European countries (ThatÃ¢â¬â¢s one of the main markets for Heavyweight motorcycles outside U. S). Ã They didnÃ¢â¬â¢t yet start its sales in India, one of the biggest markets. Required production is not met, analyzing the future of Heavyweight motorcycle market. Ã Recommended specific Strategies and Implementations. MARKET PENETRATION Ã Get some more market share from the existing market, like U. S, U. K, and Japan etc through more marketing techniques like advertising. Harley-Davidson has a good brand name so itÃ¢â¬â¢s easy for them to eat up the competitor market share if they can provide some more customer benefit. Ã Competition is high in this segment mostly in U. S so market penetration can be a good choice for the company. Ã Expand the HOG (Harley Owners Group) to Asian countries, if the company can provide the customer satisfaction that they are providing to the U.S customers to the Asian customers they can increase the sales. PRODUCT DEVELOPMENT Younger generation and female are now coming to this segment so expand the motor cycle segments to younger generation and females. Ã In Europe they can increase or expand the BuellÃ¢â¬â¢s market share by introducing new motorcycles. Ã MARKET DEVELOPMENT Ã Harley-Davidson can bring in their vehicle to Asian countries like India and China, because these countries have a high population and the market potential is also high. The cost to bring in the old vehicles (old product) to India is so much difficult because there are so much environmental laws are there which wonÃ¢â¬â¢t allow that type of vehicles to come to India, and its difficult that taxes and levis are high in India so starting new plant in India can solve this problem. Negotiations with the Government can solve these problems. Ã DIVERSIFICATION Ã Bring in new vehicles to new markets like India and china is a good choice, but itÃ¢â¬â¢s too costly. Ã Bringing new types of recreational vehicles is a best choice. Ã Recommended Long-Term Objectives. Establish Harley-Davidson as a recognized leader in the development and participation of its people, to maximize each employeeÃ¢â¬â¢s potential. Ã Grow and maintain demand by providing exceptional product styling, performance, quality, reliability and customer service at prices our customers can afford. Ã Meet the demand by expanding our existing distribution and manufacturing capacity, and, where necessary, adding new production and retail distribution points. Ã Improve information services capabilities to enable all stakeholders to easily do business with Harley-Davidson, through the creative integration of information technologies. Drive financial results to the levels achieved by acknowledged high-performing companies. Ã Recommended Procedure for Strategy Review and Evaluation Ã Review underlying bases of strategy Ã Once again prepare all the internal and external analysis. Ã Compare the already prepared analysis with the one which will be prepared after the new strategy implementation. Measuring organization preferences Ã Analyze all financial ratios current and the future. Ã If any advantage, then implement the new strategy, otherwise continue with the present one.