Picture this… in a major recession two dealers in a prime boating market independently pondered how to deal with it when the bottom started to fall out of the economy. Dealer A said, “A recession is hitting me hard. Business is getting to be really bad. So I had better pull back almost all of my advertising and promotion and cut other expenses wherever I can.” He did just that and sure enough, his prophecy was spot on… business was really bad.

However, Dealer B in the same market thought, “We are being hit by a big recession, so I need to cut the expenses I can without hurting business and sending customers the wrong signal. And I really need to continue promoting but spend my ad dollars wisely to get the most bang for the buck and keep as much business as I can until it turns around.” And sure enough, he kept as much business as possible…much of it business that used to go to Dealer A who pulled in his horns too far. Continue reading A Tale of Two Dealers →

Worried that no one will come to boat shows this year? Or stop boating and fishing? I’m not, and here’s why.

During the energy crisis of the early 1970’s, I recall seeing people lined up at gas stations hoping to buy some gas. I was one of them at times. As January and the New York Boat show rolled around, we at Johnson and Evinrude were worried that this big show would be a bust. We feared that people wouldn’t buy or use boats and outboards due to the gas shortage. We were wrong.

The New York boat show wasn’t the best attended that I had seen, but it was sure better than any of us expected. I still remember one man I visited with in our exhibit who, when asked how he felt about the energy crisis, said, “If I have to, I’ll ride my bike to work so I’ll have enough gas to go boating and fishing.” That reminds me of an old saying that goes something like this, “You can take away a man’s tools, but don’t try to take his fishing rod because then you will have a real fight on your hands.” Continue reading Boaters Will Keep Boating →

Over the past several months I have found myself watching closely the economic issues surrounding this marine industry of ours and have realized, though it is struggling, there are some interesting opportunities presenting themselves to forward thinking aggressive dealers. Continue reading Is now the right time to think about new product lines? →