How does the concept of product life cycle apply to Regal Marine products?
Products are designed to the precise customer needs and market demand. Every product has specific time period to perform with its super capacity. Therefore, each product has its technical life cycle to perform efficiently. Regal Marine is one of the best marine product manufacturers, therefore, they are much concerned about their product life cycle. Regal Marine always introduces new and innovated marine products before the decline of their prior product or in the vacuum situation in the market.
It enables Regal to again maintain its cash flow and to have their presence in the competitive market. So, concept of product life cycle by Regal Marine is, they always keep themselves busy to conceive new and innovated products to compete in the market and be alive economically. The only way to be alive is to alive the creativeness and do the best.
What strategy does Regal use to stay competitive?
In Regal Marine the creative minds always work for better product to stay competitive. For that, the creative team busy themselves to dig out new and innovated ideas and put the creative ideas in right direction to achieve profitable results. Keep the creative team busy in bringing out the most innovative and consumer oriented ideas and make the product accordingly is strategy used by Regal Marine to stay competitive in the market.
What kind of benefits are Regal achieving by using CAD technology rather than traditional drafting techniques?
The computer aided design technology (CAD) has been utilized accurately in the Regal Marine product design department. The traditional drafting techniques are slow and not as sophisticated as CAD, therefore, with the use of new technology creative team of Regal Marine is busy in designing most upgraded and technological elegant products for their customers.
The creativeness with upgraded technology is providing the best competitive product to the Regal Marie to compete in the market.