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Polaris Industries

In: Business and Management

Submitted By zouthzide3
Words 471
Pages 2
Team Assignment One

(a) Reasons, Objectives, and Expectations

Polaris Industries has chosen South West Europe as a new expansion location. Polaris believes that a location in South West Europe will give us access to a broad market that includes countries such as Spain, Portugal, Greece, Italy, Croatia, Germany, France, Belgium, and Switzerland. Our objective is to create an entry point into our target market, in which we can import our pre-manufactured parts directly to a Polaris owned assembly plant. This will then allow Polaris to either distribute our products to third party retailers or set up our own store fronts.
Currently only 14-16% of Polaris’ sales are made in regions outside of the United States and Canada. With more local position, we expect to increase our international presence and sales in a more competitive level with other retailers and in order to accomplish this goal, we will be utilizing a multiple port plan to reduce shipping times to our customers. A reduction in shipping time will allow us to produce a greater quantity of product, thus expanding our European market share. In 2013, we reported sales of 3.8 billion dollars. As a company we are projecting that by 2020, we will have reached an annual earnings of 8 billion dollars worth of sales. Given those numbers we are targeting an area we believe has great growth potential. As a company it is also our goal to acquire 2 billion dollars worth of new markets by year 2020, allowing us to create new partnerships in our target markets. At the end of 2014, Polaris reported that sales in Europe, the Middle East, and Africa combined saw an increase of 12%, with 8.16% coming directly from Europe. International sales also showed an increase of 16%, providing a growth opportunity in the international sector. Polaris will introduce the extremely popular Sportsman All Terrain Vehicle (ATV) line to this new region. The Sportsman ATV line is made up of 30 different models. With such variety, Polaris is able to offer options that fit every specific need of our customers. The strategic goal in bringing this high performance product to the people of this area is to improve their everyday lives through simplifying tasks or eliminating them entirely. The Sportsman model provides a rugged, durable ATV that can conquer any topography quickly and safely. This vehicle is suitable for any condition and outperforms its competitors at a much more desirable price point.

(b) Mission Statement

Polaris Industries is a firm believer that the key to success is the production of new innovative products and machines, partnership with premium suppliers, development of our employees and community, and growth in shareholder value across the global community. At Polaris, we understand the riding experience, live the riding experience, and work to make it better.

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