The External Factor Evaluation Matrix identifies and evaluates relationship between opportunities and threats. The below opportunities and threats were considered in calculating EFE Matrix score, Polaris scored 2. Polaris Industries Inc. Its products includes off-road vehicles, motorcycles, snowmobiles and small vehicles being marketed in the United States, Canada and other markets present worldwide that are highly competitive and comprises of market leaders. There are number of factors on which the competition is totally based such as the sales and marketing programs like financing and advertising.
Polaris Industries SWOT Analysis Matrix [step by step] Weighted SWOT
It began production of its vehicles in , and began winding down operations in January Its parent company, Polaris Industries , created Victory following the modern success of Harley-Davidson. Victory's motorcycles were designed to compete directly with Harley-Davidson and similar American-style motorcycle brands, with V-twin engines and touring , sport-touring , and cruiser configurations. The first Victory, the V92C, was announced in and began selling in Victory was profitable for a number of years beginning in but failed to turn a profit three of its last five years, due to a lack of sensible investment in the brand, preferring to release new model years with no changes to successful models other than paint, and poor investment choices in electric and three wheeled motorcycles.
Polaris selected LifeStyle Metals Co. From the inception of the contract, Polaris began receiving out-of-spec fuel tanks that had to be rejected. This repeated pattern of returned product generated millions of dollars of cost overruns, as well as associated delays in assembly and, perhaps worst of all, delayed shipment of the final product to dealers. Polaris risked being unable to meet the demand it had worked so hard to foster in preparing for the new product release. In order to avoid potential damage to the best-in-class Polaris brand, which could have a costly negative impact for years to come, Polaris needed to take action.
Victory Motorcycles For the case of Victory Motorcycles, the company has opted to select the diversification strategy so as to survive in the present day market. In terms of its market share, the company has a diversified market that has seen a great percentage of its products being distributed in different parts of the world. The company outsources its components such as wheels, shock asorers from USA; thus, success over its competitors. If the company also maintains a high engineering process, then it will be well placed to deal with the forces in the present market.