I had dinner the other night with a busy industry executive who said something interesting. He has the money to buy a boat, but questioned why he’d make that investment when he’d probably use it once or twice. And he didn’t want the hassle of maintaining the boat or even finding a place for it, plus all the other extras inherent to owning a boat.
What would appeal to him, however, was fractional ownership. He would still enjoy the sport, but without the added worries of owning the boat by himself.
He questioned whether boatbuilders would benefit if they started advertising fractional ownership, very much like resorts advertise timesharing.
Soundings Trade Only did a story in August 2006 about fractional ownership. We talked to three of the largest companies in the business who said they experienced huge increases since opening their doors.
Now, I pose my dinner guest’s question to the boatbuilders and their dealers?
Is this marketing strategy a feasible option, especially during a lackluster environment when too many things are vying for consumers’ discretionary income? Or, if you are already engaged in such a strategy, would this be something you’d want to strengthen?
Soundings Trade Only