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Regal Marine, one of the U.S.'s 10 largest power-boat mission providing achieves its luxury manufacturers, performance boats to customers worldwide using the strategy of differentiation. It differentiates its products through constant innovation, unique features, and high quality. Increasing sales at the Orlando, Florida, family-owned firm suggest that the strategy is working. As a quality boat manufacturer, Regal Marine starts with continuous innovation, as reflected in computer-aided design(CAD), high-quality molds, and close tolerances that are controlled through both defect charts and rigorous visual inspection. In-house quality is not enough, however. Because a product is only as good as the parts put into it, Regal has established close ties with a large number of its suppliers to ensure both flexibility and perfect parts. With the help of these suppliers, Regal can profitably produce a product line of 22 boats, ranging from the $14,000 19-foot boat to the $500,000 44-foot Commodore yacht. "We build boats," says VP Tim Kuck, "but we're really in the 'fun' business. Our competition includes not only 300 other boat, canoe, and yacht manufacturers in our $17 billion industry, but home theaters, the Internet, and all kinds of alternative family entertainment." Fortunately, Regal has been paying down debt and increasing market share. Regal has also joined with scores of other independent boat makers in the American Boat Builders Association. Through economies of scale in procurement, Regal is able to navigate against billion-dollar competitor Brunswick (makers of the Sea Ray and Bayliner brands). Discussion Questions * 1. State Regal Marine's mission in your own words. 2. Identify the strengths, weaknesses, opportunities, and threats that are relevant to the strategy of Regal Marine (use Porter five forces model & the VRI framework). ~ 3. How would you define Regal's strategy