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When considering both the positive and negative aspects of the automotive industry, a diversification decision has been made to expand the business to cover increased motorcycle production and marketing to end consumers. The decision to diversify was made because, in the second wave of the COVID-19 pandemic, consumers have shown a tendency to choose motorcycles and bikes as common means of transportation, which prompted considerations to recapture the industry as a part of the diversification strategy ( Market share of major motorcycle brands in the U.S. as of March 2020, based on unit sales, 2020).
Within the decision to diversify, it is essential to consider the sales of the most popular motorcycle models that appeal to customers within the automotive market, plan in accordance with the statistics on the share of sales, as well as introduce the decision-making model and the Rational Model as the planning tools.
The automotive marketplace is the context within which the new products will be launched, which means that the market trends and dynamics that are applicable to the sales of automobiles will be frequently analyzed. The benefits of the decision include the opportunity to expand the business based on customer demand and the possibility to attain a stable interest within the target audience. For the stakeholders, the decision implies the introduction of new partners and investors to engage in the diversification, while for the organization, it is possible to strengthen capacity development through new channels of distribution.
For the community, the decision to diversify motorcycle sales offers an opportunity to explore the offered product and the benefits that it brings in the context of the pandemic. Specifically, motorcycles are not enclosed vehicles, and the driver is continuously exposed to fresh air without compromising on speed, which is an essential benefit that regular cars cannot offer.
Reference
Market share of major motorcycle brands in the U.S. as of March 2020, based on unit sales. (2020). Web.
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