By: George Ross
A hundred years has passed since the collaboration of William Harvey and Andrew Davidson in Milwaukee, USA to reinvent the motorcycle. The pair up has revolutionized the motorcycle world from selling mere utility rigs to selling an awesome lifestyle.
While other companies were just selling regular motorcycles, by creating a biker image, the Harley left its competitors eating dust. Today, Harley Davidson ranks among America’s top growth stocks since its 1986 IPO. It has an annual sales growth of 37% despite suffering some difficulties.
It isn’t hard to understand why the company enjoys the biggest share in the motorcycle market. Owning a Harley is like getting into a brotherhood. Buying a Harley gets you into the Harley Owners Group or HOG as they are fondly called. The Harley legacy still thrives in the fraternity of HOG members.
While the company is reflecting robust earnings, there is some worry about how the company will fare in the next 100 years. It is interesting to note that a considerable percentage of Hog owners are baby boomers enjoying the benefits of their earnings and accomplishments in the 90s. What used to be a niche for young professionals, the HOG drivers are now growing older and its important that the Harley should appeal to younger demographics if they intend to survive the succeeding years.
It is clear that the younger generation like the sleek sporty models as opposed to the heavy brassy design the Harley Davidson is known for. The company as opposed to its competitors before refuses to buckle down. When it suffered a 15 year long decline in the 80s, it rallied and has now enjoyed 11 successive years of sales growth.
The Harley depends more on image rather than performance for marketing strategies. Like other businesses who rely on such, it is vulnerable to changes in fashion and taste. Since the company cannot replicate the aging boomers, it is important that they dig down and appeal to the younger crowd. It is tricky for a company with a cult following like the Harley to devise changes. Newer popular models have water cooling engines which is a huge departure from the bike’s air cooled ones. They could risk alienating their base crowd. If the Harley does away with the roaring sound, they can loose their customer base.
Harley dealers are confident though that it will find a way to find the balance. They have done an awful lot in the past and with current efforts in marketing strategies, they are confident that the company will find a way to reach out to the younger generation while still keeping faith with the old fanatical clients.
As the new century is well on its way, you can believe that Harley Davidson will find a way to bridge the gap. It has been a legacy for the past 100 years and it looks like it will still exercise its dominance in the coming generations.
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