Victory Motorcycles SWOT

Pages: 2 (677 words)  ·  Bibliography Sources: ≈ 2  ·  File: .docx  ·  Level: College Senior  ·  Topic: Business - Advertising

Victory Motorcycles

The mission for Victory Motorcycles is to dominate the cruising bike segment of the North American motorcycle market.

There are a number of objectives for the company with respect to marketing. The first is to be the market leader in cruising bikes. The second is to double the company's current share of the U.S. motorcycle market in one year. This follows on the 83% increase in sales year over year that Victory saw in Q1 of 2010 (U.S. Rider News, 2010). Sales outside North America, which currently account for 25% of all sales, are to be increased to 30%.

Financially, Victory contributes significant profit to Polaris. The objectives of the new marketing plan are to increase this profit contribution to the parent company. Polaris profits should increase from $3.48 per diluted share to $4.00 per diluted share for the next fiscal year as the result of these increases. The recent strengthening of the euro should have positive currency impacts on our bottom line, so it is desired that the company increase European sales by 40% over the coming year, which should increase our total sales outside North America and help achieve profit objectives.

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There are two primary target markets for the Victory marketing campaign. The first is Europe, where the company has seen strong growth and where the currency is strong at present relative to the U.S. dollar. Within North America, Victory will seek to improve its share among consumers 45-65, a core demographic for Victory's line of cruising bikes. Both males and females will be targeted within this demographic. Although Victory's current customer base is 95% male, it is felt that there is considerable market potential within both of these markets, in particular at younger ages when the wives of current customers may join their husbands on a cruiser tour (WRN, 2007). The target market is relatively wealthy and loves life on the road. Our marketing strategy will continue to reflect the values of these consumers.

TOPIC: SWOT on Victory Motorcycles Assignment

Victory Motorcycles have been traditionally positioned as luxury products,… [END OF PREVIEW] . . . READ MORE

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https://www.essaytown.com/subjects/paper/victory-motorcycles/1412436.