Challenges and Opportunities
Growth = Better Selling, Marketing
The average boat buyer spends six months from the time the decision is made to own to actually making the purchase. It takes this long for two key reasons: a strong desire to select the right boat for intended uses, and difficulty in gaining what is considered reliable information about selecting the right boat. Shoppers (in order) consult friends, visit boat shows and "talk to dealers" to decide what type of boat fits their needs. Then they research manufacturer brochures and magazine articles and ads to zero in on brand and model. The six-month period provides significant opportunity for manufacturers and dealers to influence the final purchase.
About one-fifth of first-time buyers and one-third of repeat buyers test drove boats at dealerships. In deciding to buy, about three-fourths of those taking test drives said it was the most helpful step in the buying process. The study indicates that boat demonstrations are an underutilized selling tool and may be the single most effective method of turning prospects into owners. RPC members suggested increased emphasis on demos in sales routines, and noted related benefits accruing to buyer instruction and general on-water safety.
One of the most surprising findings of the research was the interest of boat buyers to negotiate price rather than be offered a "one-price" system. This is not to say buyers want to haggle, but there is a perception that a negotiated price will be lower than a fixed one. It's also possible that during the negotiation process further specific product information can be gained to help justify the purchase. Despite all the positives attributed to "one price" buying, a recent study of "baby boomer" car buyers indicated that 55 percent still prefer to negotiate price.
