It has been a century since William Harley and Andrew Davidson first collaborated to reinvent the motorcycle in Milwaukee, USA. The collaboration has revolutionized the world of motorcycle and changed the bike market from selling a mere vehicle to selling a lifestyle.
Where others were just selling regular motorcycles back then, by creating a biker image, The Harley Davidson left its competitors eating dust. Harley ranks among America's top growth stocks since its 1986 IPO. It has a 37 % annual growth gain despite encountering problems as of late.
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.
The robust earnings posted by the company still does not erase some concerns as to how the Harley is going to fare in the next 100 years. The baby boomers who are taking advantage of their earnings and accomplishments in the 90s are the company's main customer base and are now getting older. What used to be a niche for young professionals is changing as the boomers are getting older. Harley needs to reach deeper to younger demographics if they intend to stay on for the next century.
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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