It’s interesting to observe the marketing strategies different manufacturers have in a recession economy.
One common method is to simply stand pat and lay low with product innovation until the storm has past.
You’re seeing this response from some ATV-builders that once occupied considerable mind space in the marketplace – and are losing it quickly.
Some have stopped promoting their products and brand to the point they are not visible in any enthusiast media or even editorial. Insanely, they avoid the very people they need to be reaching out to in order to bolster sales.
Product enhancements are bare minimum and consist of paint variations and decals. Any changes are minor and limited to one or two models only. Magazines and websites stop reporting on their products because there’s simply nothing new to report.
This snowball effect has a big impact on their market share numbers and sales. ATV owners like new and shiny and will walk past perfectly good equipment to get to the latest and greatest stuff. It’s a fact. Meanwhile, panic continues and execs can’t figure out why sales are dropping.
On the other hand, some OEMs see a recession as an opportunity to gain market. While the competition is sitting dormant waiting for better days, the aggressive ones are pushing harder with promotion and innovative new models.
Buyers are still visiting those dealerships and spending there. It all seems like it should be an obvious strategy for success, but obviously it isn’t.
