Question 1. What are the chief economic characteristics of the boating industry? Answer 1.The major characteristic of the boat industry is the overall economy. 2.When the economy is booming then the sales of boats will increase. These types of boats are considered a luxury item and when the economy is failing, so are the sales. 3.The market size is relatively small with only 17 major skis and recreational wakeboard boat manufactures nation wide, including Australia. 4.Rivalry among …showed first 75 words of 2220 total…

…showed last 75 words of 2220 total…lan should strengthen its balance sheet; they are burdened with too much debt at this time. ·The company has to improve its brand image or reputation by focusing more on their customers needs. ·They must reinvent the value chain to lower costs, and to better their product. ·Should establish stronger dealer network than its rivals. ·The company must be able to invest in research and development to stay on the leading edge of their competitors.