Assignment Task
1. Background
The fishing boat industry has increased significantly over the last decade as people have become more health and self-conscious about the benefits of fresh fish. The industry grew to a A$100 billion global industry with approximately 300 companies producing fishing boats worldwide (FISH 2019; Eel 2019). Within the fishing boat industry Your Fishing Boat (YFB) is among the top 10 fishing boat producers in the world. According to FISH (2020), with more than 3,000 sales locations and 1 million sales a year. Similarly, in Industria YFB has shown substantial growth in the last decade, growing to the third-largest fishing boat company in the Industrian market holding 28% market share, 100 sales locations, and 15,000 boats sold annually with a revenue of A$180 million in 2019 (YFB 2020; FISH 2020).
2. Project topic
YFB has primarily relied on the growth of sales locations and growth of sales of fishing boats to increase its annual revenue. However, according an IBISGlobe industry outlook by FISH (2020), the industry will likely face a slowdown in growth over the next ten years (2020-2030). This means that fishing boat producers will no longer be able to rely on growth in sales and sales locations only for revenues and maintain their current market shares, but instead must invest in new strategies to maintain market share and increase revenue. One of the opportunities and strategies for YFB to react to the likely slowdown in growth is to focus on retention of its current customers. According to FISHING (2020), 30 per cent of fishing boat owners sell their fishing boat within 2 years and never go out boating again. The same study finds that on average, a fishing boat owner upgrades their boat every 3 years. This means that a company like YFB loses 30 per cent of potential customers who may upgrade their boat in the future. There are many reasons for consumer behaviours and why owners decide to sell their boat and leave the market. YFB will have to investigate and address identified issues such as quality issues and perspectives of boating, expected experience of fishing on the ocean, satisfaction of the boating and fishing experience, trust and In the background section a briefdescription of the case organisation and/or industry is provided This section describes the problem that the case organisation YFB and/or industry faces. It also provides information about the opportunity/ possible solution that will be investigated. Both problem and/or opportunity are supported by evidence in the form of literature with appropriate reference provided.
A-Plus Writing Help For University Students
Get expert assistance in any academic field. All courses and programs covered.
Get Help Now!Welcome to our Online Essay Writing Agency. Securing higher grades costing your pocket? Order your assignment online at the lowest price now! Our online essay writers are able to provide high-quality assignment help within your deadline. With our homework writing company, you can order essays, term papers, research papers, capstone projects, movie review, presentation, annotated bibliography, reaction paper, research proposal, discussion, or another assignment without having to worry about its originality – we offer 100% original content written completely from scratch
We write papers within your selected deadline. Just share the instructions
