Case Design of Goods and Services

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

Table of Contents

Application of the concept of product life cycle in regal marine
Strategies used by Regal to remain competitive
Benefits of using CAD technology rather than traditional drafting techniques
References

Render and Heizer (2005) point out that the ability to attain higher competitiveness in today’s global market is by transforming a business unit into an intensive integrated process for the sole purpose of optimizing returns. Many multinationals such as Regal Marine have displayed credible responsiveness in a bid to remain competitive in the global market.

This paper discusses how regal marine has used the concept of product life cycle in making its products, the strategies the company has employed to remain competitive and the benefits of using the CAD technology as compared to traditional drafting techniques.

Application of the concept of product life cycle in regal marine

The quality of products which a company avails in the market for consumers is a major success factor in businesses. Leondes (2001) notes that in an industry where there are multiple competitions, a business must aspire to be distinguished from other players by impressive and consistent satisfaction of customers.

The operations team at regal has made an important choice of considering the business principle of product life cycle. This cycle is attributed by the economics rule that all products have a lifespan. Products are manufactured at a specific time; they are circulated in a cycle characterized by different stages and are eventually consumed at some point (Foster, Datar & Horngren, 2006).

In order to make appealing and competitive boats at Regal, it is well known that the boats made have to go through the four stages of product life cycle. The four stages are introduction, growth, maturity and decline (Foster, Datar & Horngren, 2006).

In Regal Marine, as boats are being introduced into the market, it is already anticipated that low returns per boat are expected at introduction stage before a certain model of boats grows to record optimal sales and profits. To avoid recession during introduction and decline of boat models, there should be continuous introduction of new models in a financial period of between three to five years.

Strategies used by Regal to remain competitive

In order to continue accruing maximum profits, a company needs to strategically persist introducing new and consumer satisfying products (Leondes, 2001). To make sure that customers are satisfied, the marketing team at Regal ought to collect and compile opinions from boat users across its target market.

This team should ensure that consumers’ thoughts and desires are known. Leondes (2001) posits that technological advancement spells the reason why some firms are more efficient in product quality management than others.

To ensure that quality of boats is attained together with customers’ tastes, the management team at Regal has acquired and used Computer Aided Design (CAD) technology. All the boat designs that are absorbed into the company’s styling unit are compiled by CAD and highly demanded by customers since they are customized.

Benefits of using CAD technology rather than traditional drafting techniques

The CAD technology is a companywide system which gives specifications but also stores numerous features and ideas which can be compiled any time of the trading period to ensure that galaxies of products can be produced in response to contracts of small and large scale sizes (Leondes, 2001).

By the application of this technology, Regal marine has been able to design many models of boats without the engagement of many engineers as the case was when manual drafting was being used.

Design engineers at Regal use relatively short period of time in designing boats because they normally incorporate all the available suggestions and ideas into the graphic display power of the CAD technology. By using this technology, Regal marine has been able to produce exciting, financially rewarding, award winning design boats throughout its business years.

References

Foster. G., Datar, S. & Horngren, C. (2006). Cost accounting: a managerial emphasis: Charles T. Horngren series in accounting. London: Pearson Prentice Hall.

Leondes, C. (2001). Computer Aided Design, Engineering and Manufacturing:

Systems techniques and computational methods. New York: CRC Press.

Render, B. & Heizer, J. (2005). Operations management. New York: Pearson/Prentice Hall.

Click Here To Order Now!

Case Design of Goods and Services

Do you need this or any other assignment done for you from scratch?

We have qualified writers to help you.

We assure you a quality paper that is 100% free from plagiarism and AI.

You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)