St. Petersburg CollegeMAN 3504The Product Life Cycle at Regal Marine

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How does the concept of product life cycle apply to Regal Marine products? Regal Marine is known for producing quality boats and has won awards for producing boats that range from 19 feet to 53 feet... . It is actually one of the chief suppliers of bowriders, express cruisers, and sport coupe yachts. One aspect that makes the company successful is the company's desire to stay competitive. They do this by evaluating their customer's needs and developing innovative modifications to some of their boats such as convertible hard tops (Regal boats, 2014). Recently, the company acquired Myjive, Inc. with the intention of pushing “the boating industry and their brand forward and needed an agency that would approach the business from an outsider’s perspective and present new ideas” (Regal boats, 2014, para. 5). Concerning the concept of the product life cycle, there are four phases. These include the introduction phase, growth phase, maturity phase, and decline phase (Heizer & Render, 2014). Since Regal Marine's boats have such a short life cycle of 3 years, it must always keep innovating its current boats, like with its introduction of convertible hard tops and praised FAS Trac hulls that provides high performance (Regal boats, 2014). Regal Marine also focuses on developing new boats to satisfy consumer's changing needs. In fact, it introduces six new models every year. In order to develop these new products faster and more efficiently, Regal Marine has taken advantage of the use of computer-aided design. Regal Marine's objective of using computer-aided design is to reduce the overall product development time, from concept to production. In addition to decreasing the time and cost of product development, the computeraided design system “has reduced problems with tooling and production, resulting in a superior product” (Heizer & Render, 2014, p. 155). [Show More]

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