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 has a product line consisting of 22 models, but they are all in different product life cycle stages, and new models are constantly being added as old ones reach the end of their life cycles. Regal MarineÆs product life cycle starts with design input submitted by customers, dealers, and consultants. That input goes immediately to the styling studio, where it is placed onto CAD machines to speed the development process. The many existing boat designs are always evolving, as well, to keep up with style trends and competition. The product life cycles can be as short as three years, so a constant influx of new design ideas is necessary to fuel the constant development of new products.
RegalÆs strategy for staying competitive is predicated on three tactics: seeking design input from customers, dealers, and consultantsùthose whose opinions really matter in maintaining a competitive edge, putting design ideas rapidly into production, getting key suppliers on board early and urging them to participate at the design stage, and limiting product life cycles to the few number of years that the products are truly profitable to make and in great demand. Going to the people who will be buying the boats for design ideas ensures that the designs Regal develops will appeal to purchasers. The involvement of dealers and consultants is equally important, not only because they get customer feedback all the time on features they would like to see but because they know what features they will be good at selling to customers. The rapid transition from design to production ensures that new models come out while they are still ôhot,ö before the public has had a chance to find something they like better. This means that products are introduced at about the optimum time
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