1 Project Four: Press Release Tierra Estes Southern New Hampshire University BUS 225: Critical Business Skills for Success Professor Jones October 16, 2023
2 Project Four: Press Release Is diversifying into a billion-dollar industry a good or bad idea? After much research, a trusted company in the automotive industry has decided to diversify into the motorcycle industry. With a steady yearly increase in motorcycle sales of 7.4%, the decision to diversify was not hard to come by (Statista, N.D.). Consumer trends show motorcycle sales are projected to grow yearly with rising disposable incomes and improving living standards (Statista, N.D.). Consumers are purchasing more on-road motorcycles for commuting and leisure purposes, pushing the growth in sales. The company has a solid reputation in the automotive industry. Researching different industries and consumer trends led us to the motorcycle industry. Motorcycle sales are rising, and consumers continue to push growth and sales in this industry. With the knowledge we possess in the automotive industry, this diversification would benefit the company. The company was at a standstill in profits and sales and needed something to help push us over and gain growth within the company. We have a solid foundation within the automotive industry, and staying close to home and diversifying into the motorcycle industry is an excellent addition to the company. This diversification will solve the problem of sales and profit by bringing millions, if not billions, into the company. The company will launch its new product in the Southeast region. We picked this area to release first because, currently, in the automotive industry, this is the region with the most automotive sales in 2022. (Statista, N.D). If we launch in a part where we already see the most significant profit in sales, we can expect to see the same sales in the motorcycle industry. The benefit of this diversification will be not only beneficial for the company with an increase in profits, sales, and returned consumers but for the community as well. This new industry will bring new jobs to the community. More factories opening will bring more opportunities for work. This will also get more traffic into the community, bringing more business. The community will also have our trusted brand not only in the automotive industry but also in the motorcycle industry. In summary, diversifying into the automotive industry will solve our problem with profits and sales. This diversification will benefit the company and the community with new job opportunities and business. We plan to launch in the Southeast region first to get the most bang for our buck, but we expect to get the other areas going shortly after. We thank you for your time and look forward to producing some of our quality work for the motorcycle industry.
3 For more information, contact Tierra Estes, Sales Department Manager.