Marinemax Porter's 5 Forces
PESTLE Forces
1. Political
“Various federal, state, and local regulatory agencies…have jurisdiction over the operation of our dealerships, repair facilities, and other operations with respect to matters such as consumer protection, workers’ safety, and laws regarding protection of the environment, including air, water, and soil.” (pg. 21)
Similar to the car and auto industry, the boating industry and its products are under heavy restriction regarding the environmental effects of vehicles manufactured/sold in the United States, as well as laws concerning the use of those vehicles, such as regulation of navigable waters, fish and wildlife. Not only is compliance with these regulations necessary for the protection of the environment, it is …show more content…
Economic
“As a result, an economic downturn could impact us more than certain of our competitors due to our strategic focus on a higher end of our market.” (pg. 24)
This concept prominently coincides with the sociocultural force regarding the company’s products. Because of the social trend towards an overall weakened trust level towards luxury items after an economic decline, MarineMax is at greater risk of losing revenues in the event of recession. As a result, they are also more susceptible to longer periods of negatively-impacted revenues, as consumers are often still weary of indulgent spending even after economic conditions have improved.
3. Sociocultural
“In an economic downturn… consumer spending on luxury goods also may decline as a result of lower consumer confidence levels, even if prevailing economic conditions are favorable.” (pg. 24)
While many consumers will be hesitant towards spending money on nonessential amenities in a weakened economy, the boating industry has a proven history of surviving periods of economic instability, ever since its formation in the late 1920’s , due to the large number of Americans that hold boating close to their heart as a cherished hobby. Because of this importance to many boating enthusiasts, the likelihood of the boating industry and the products and services it provides becoming obsolete is highly
1. Political
“Various federal, state, and local regulatory agencies…have jurisdiction over the operation of our dealerships, repair facilities, and other operations with respect to matters such as consumer protection, workers’ safety, and laws regarding protection of the environment, including air, water, and soil.” (pg. 21)
Similar to the car and auto industry, the boating industry and its products are under heavy restriction regarding the environmental effects of vehicles manufactured/sold in the United States, as well as laws concerning the use of those vehicles, such as regulation of navigable waters, fish and wildlife. Not only is compliance with these regulations necessary for the protection of the environment, it is …show more content…
Economic
“As a result, an economic downturn could impact us more than certain of our competitors due to our strategic focus on a higher end of our market.” (pg. 24)
This concept prominently coincides with the sociocultural force regarding the company’s products. Because of the social trend towards an overall weakened trust level towards luxury items after an economic decline, MarineMax is at greater risk of losing revenues in the event of recession. As a result, they are also more susceptible to longer periods of negatively-impacted revenues, as consumers are often still weary of indulgent spending even after economic conditions have improved.
3. Sociocultural
“In an economic downturn… consumer spending on luxury goods also may decline as a result of lower consumer confidence levels, even if prevailing economic conditions are favorable.” (pg. 24)
While many consumers will be hesitant towards spending money on nonessential amenities in a weakened economy, the boating industry has a proven history of surviving periods of economic instability, ever since its formation in the late 1920’s , due to the large number of Americans that hold boating close to their heart as a cherished hobby. Because of this importance to many boating enthusiasts, the likelihood of the boating industry and the products and services it provides becoming obsolete is highly