Analysis of triumph motorcycles Executive summary players like Yamaha and other local manufacturers. This work recommends two strategies to improve the market share. First, the work

Running head: ANALYSIS OF TRIUMPH MOTORCYCLES UK

Analysis of triumph motorcycles

Executive summary

The analysis of Triumph motorcycles reveals that the industry in the UK is in the growth phase.

This is characterized by small increases in sales and the difficulty of entry due to the high exit

cost and absorption of smaller manufactures. It shows that major competitors are large

multinational corporations with a vast financial strength determined to take over smaller

manufacturers operations in the country and Europe as whole. The economic condition in Britain

and the political climate is found to be stable posting a limited threat to the survival of the

manufacturers like triumph motorcycles. The major challenge of triumph motorcycles identified

is the strategy to gain a fair market share from the strong competition that it faces from

established players like Yamaha and other local manufacturers.

This work recommends two strategies to improve the market share. First, the work recommends

research and development as an area of increasing the diversification on the products. The

research and development seeks to innovate its current ideas to the make it compete in new and

existing markets. A second strategy is to change the pricing of its products. This will either

accommodate more consumers or challenge existing manufacturers who provide high priced

motorbikes in the market.

ANALYSIS OF TRIUMPH MOTORCYCLES 2

Contents

Introduction ..................................................................................................................................... 4

External environment ...................................................................................................................... 4

PESTLE analysis ......................................................................................................................... 4

Political factors ........................................................................................................................ 4

Economic ................................................................................................................................. 4

Social factors ........................................................................................................................... 5

Technology .............................................................................................................................. 5

Environmental ......................................................................................................................... 5

Legal issues.............................................................................................................................. 6

Porter’s five forces analysis ........................................................................................................ 7

Threat of new entrants ............................................................................................................. 7

Substitute products threat ........................................................................................................ 8

Bargaining power of buyers .................................................................................................... 8

Bargaining power of suppliers ................................................................................................. 9

Rivalry of existing firms .......................................................................................................... 9

Industry Life Cycle: .................................................................................................................. 10

Strategic Group Analysis .......................................................................................................... 11

Competition Chart: .................................................................................................................... 13

Resources analysis ........................................................................................................................ 14

VRIN analysis: .......................................................................................................................... 14

Virtual Chain ............................................................................................................................. 15

Generic Strategies ......................................................................................................................... 16

SWOT analysis .......................................................................................................................... 17

Strengths ................................................................................................................................ 17

Weaknesses ............................................................................................................................ 17

Opportunities ......................................................................................................................... 17

Threats ................................................................................................................................... 18

A TWOS matrix and recommendations .................................................................................... 18

ANSOFF matrix ........................................................................................................................ 19

The SAF analysis ...................................................................................................................... 20

Recommendations: ........................................................................................................................ 20

References ..................................................................................................................................... 21


Tables

Table 1: Pestel analysis for triumph motorcycles…………………….......7

Table 2: competitors of Triumph motorcycles …………………………13

Diagrams

Diagram1: illustration of porters five forces for Triumph………………....10

Diagram 2: Industry life cycle …………………………………………….11

Diagram3: of the strategic group analysis………………………………...12

Diagram 4: illustration of resource analysis……………………………….15

Diagram5: Illustration of the organizations value chain…………………..16

Diagram 6: The illustration of the ansoff matrix …………………………19


Introduction

Triumph motorcycles is one of the leading manufacturer of motorcycles in the UK (Council,

2008). The company also offers a variety of accessories that range from motorcycles spares to

clothing and appropriate gear for the bikes. The company has a plant located at Hinckley in the

UK and also produces some of the motorcycles in Thailand. This work gives both external and

resource based analysis of the company. It then proceeds to evaluate the strategic options

available to the company.

External environment

PESTLE analysis

Political factors

In the UK economy, there are three types of controls that are placed on the importation of any

industrial products. The government can either decide to survey, place quotas on the imports or a

total ban on the goods. Currently the UK being a member state of the European Union, it cannot

place any bans on the industrial goods from other nations (Daianu, 2014). This fact implies that

competitors of Triumph can import a considerable amount of merchandise to the nation without

political interference. Its importation is also fairly liberated.

Economic

The location of triumph motorcycles in the European economic zone offers a lot of advantages.

First the company can move staff and products to all the countries with a high amount of ease.

Having complied with the UK standards in health and safety, the company’s products are more

easily acceptable within these nations than the competitors from Asia and the rest of the world

(Kleindl, 2007). Additionally, triumph motorcycles has formed other subsidiaries in Germany


and France these nations to help with the distribution of its products. This is an attempt to exploit

the benefits of the establishment of free trade within the European nations

Social factors

The home economy of triumph motorcycles offers a variety of social classes that suits the

product range of the company. This ranges from lavish high end spenders and affluent achieves

to the struggling or financially stretched persons. Triumph motorcycles will benefit from the

spending pattern of the affluent achievers that is slowly becoming a big part of the social strata

of the UK economy (Arcon consumer classifications, 2013). Apart from the affluent achievers,

accommodation of the low income earners is an important aspect of its operations and eventual

profitability. The company should consider an improvement on the reduction of its models prices

to compete with the cheaper options from Japan and china in the local market.

Technology

The level of technological advancement plays an important role in the growth of the economy

(Oakey, 2003). This fact is due to the development of cluster of industries around technological

innovations and discoveries. The UK economy provides conditions that are essential to the

growth of the business through technological advancement (Brewer & Rees, 2015). This is in an

effort to stay at par with other developed nations in the world.

Environmental

The most common concern in the developed nations is the ethical consideration of the

environment and the issues surrounding the corporate social responsibility (Cetindamar, 2007).

The sourcing of raw materials is also an important mater that the company will consider.


Apparently, some of its production is done in Thailand. There are no environmental concerns in

the production of the parts or the motorcycles from the location. However, this does not eradicate

the possibility of the company going into future problems relating to environmental protection

(Carroll & Buchholtz, 2014).

Legal issues

Doing business within the UK economy has a substantial advantage to companies that operate

here. Through complying with the basic regulations and legal requirements, the company by

extension can operate freely within any country in the European Union. This rule offers the

company the advantage of having complied with requirements to operate in a larger market as

compared to companies that come from regions out of the Euro zone.

Factor Summary Effect Trend Level of

criticality

Political Government

imposes quotas

on imports and

exports, total ban

in some cases

Reduction in the

ability to bring in

raw materials,

low amount of

imported

motorcycles and

accessories

Limited

interference of

government in

the recent years

moderate

Economic Company has

established

subsidiaries for

distribution in

various

economic blocks

Affects the

distribution chain

of the company

Solid support

from partners

like the European

Union

Low

Social Growth of

affluent

population as

well as the low

income earners

Demand for high

end and more

variety of utility

motorbikes

Increasing

steadily after the

economic

recession in 2009

High


in the

demographics

Technological Constantly

changing and

improving

technological

environment

The products of

the company

could be

outdated soon

Rapid changes in

technology

High

Environmental Huge concern on

the sourcing of

raw materials

Limited appeal to

companies that

degrade the

environment

High rate of

activism due to

global warming

Moderate to high

Legal Business

regulation and

licensing in

different target

markets

Non compliance

could lead to

cessation of

operations

Most territories

follow the legal

issue to the later

Moderate

Table 1: Pestel analysis for triumph motorcycles

Porter’s five forces analysis

Threat of new entrants

MarketLine research conducted in 2014 indicates the threat of new entrants in the UK economy

as weak. Manufacturing being a capital intensive investment will take a huge input from the

investors. For instance, the owner of triumph motorcycle spent at least $ 100 million as initial

investment before beginning operation. The cost of exiting the industry is also considerably high.

Despite the high costs associated with entry and exit, the industry offered attractive prospects

related to growth for the likely new investors (Egan & Thomas, 2010). Therefore, it can be

concluded that the threat of new entrants is real but limited within the UK economy.


Substitute products threat

With the current concerns of global warming increases, options to automobiles that use fossil

fuels is being considered as a viable option. Low carbon emitting products like electric scooters

and moped are constantly gaining popularity in the market (de Medeiros, Ribeiro, & Cortimiglia,

2016). In 2015, the UK government made progress by supporting grants that could be used to

finance up to 20% of the purchase price of electric motorcycles and scooters (A to B Magazine

UK., 2016). Additionally, there are no requirements like licenses that will be put on individuals

that will be operating such machines. Number plates and task discs are other exemptions that

points to the government commitment to aid the growth and popularity of the substitute products

in the UK market (A to B Magazine UK., 2016). Such pricing incentive could lower the demand

for triumphs products in the UK market or substantially force a reduction in its prices within this

market.

Bargaining power of buyers

The individual buyers of the triumph motorcycles place no or little pressure on the company.

With the constant path of recovery and economic growth that has since changed consumers

spending patterns since 2009 (Greenglass, Antonides, Christandl, Foster, Katter, Kaufman &

Lea, 2014). Large retailers also place little or no pressure on the company. The large retailers

such as Amazon have a high bargaining power because of the amount of stock that they buy and

brand loyalty plays an important role in the level of their sales.


Bargaining power of suppliers

The main products for manufacture of the motorcycles are steel rubber and assorted plastics or

polymers. Currently, the steel industry is facing a challenge in the UK (Financial times 2015).

This is likely to impact on the UK production plant that can put pressure on the motorcycle

manufacturer. However with international production taking place in other parts of the world like

in Thailand, the manufacturer is likely to be under moderate pressure from suppliers of raw

materials.

Rivalry of existing firms

Triumph motorcycles are the leading manufacturer of motorcycles based in the United Kingdom.

This gives them the potential advantage of transportation costs and logistics associated with the

Euro zone. However, the rivalry within this industrial sector is very high. There are many players

that include several international manufacturers like BMW, Yamaha and Norton motorcycles

(Brown, Bessant, &Lamming, 2013). These could be importers but the competition for the local

and international market is very stiff. Companies like Bajaj for instance produce a huge number

of motorcycles that are intended for low income markets like Africa which substantially cuts in

the margins of triumph motorcycles.


Diagram1: illustration of porters five forces for Triumph

Industry Life Cycle:

The UK and Euro zone motorcycles market is in the growth or shake out phase of development.

Most of work on the designs of the motorcycles have been done or achieved by the players in the

sector. What remains now is the generic manufacture of the motorcycles by the major players is

currently the major focus (Frankl & Rubik, 1999). Another indication that the industry is in the

shakeout face is the barriers to entry that are very high (Taparia, 2004; Hill, Jones, & Schilling,

New entrants

Attractive prospects especially in

Europe (Egan & Thomas,

2010)

High exit costs (Dunnett 2013)

Industrial rivalry

Crowded field of players

(Brown, Bessant,

&Lamming, 2013)

Limited industry growth

(David 2016)

Suppliers

High cost of steel in UK

(Financial times 2015)

No substitute for raw

materials (Davies 2012)

Substitutes

Government support for electric scooter mopeds

Buyers preference to electric options (de Medeiros,

Ribeiro, & Cortimiglia, 2016)

Buyers

Improving spending

habits since recession

has reduced pressure of

high bargaining power

in most economies

(Hausman, 2013)


2014; ). As noted earlier in this treatise, the UK market has a high cost of exit that limits the treat

of new entrants to the very low. The intention of the industry in this case is to consolidate

operations for profitability. Smaller companies are taken over by bigger players leading to a less

crowded market of players (Grant 2015).

Diagram 2: Industry life cycle (Dash, 2009)

Strategic Group Analysis

The most important aspect or variables that determine the positioning of the competitors in the

motorcycles industry is the price, performance and geographical distribution of the machines.

These are the common variables that differentiate the products especially in this sector (Kazmi,

2008). These factors influence the prices that manufacturers are willing to sell the machines and

the amount of uses that the machines can be put. Similarity of the corporations is an important

factor but does not imply the same competition. However, the products offered should be fairly

similar to develop an effective map (Henry, 2008).

Machine with high quality performance like engine capacity and multiple uses are generally

considered as high end machines. Their costs are considerably high leading to low popularity or


just preference by the affluent members of the society. Alternatively, medium performing brands

with general use can attract a wide geographical presence since they are of considerable prices

that can be afforded by many people. To measure the popularity of the machines and

geographical coverage, the number of outlets that sell the brand worldwide and the number of

units sold will be examined.

Diagram3: of the strategic group analysis

Specifications and

price

Product range and distribution

High

Low High

Yamaha, Bajaj,

Honda, Suzuki

and Zongshen

Norton, Lifan,

loncin,

Triumph

, BMW


Competition Chart:

Yamaha motors Norton motorcycles

HeadQuater Iwata Shizouka, Japan Castle Downingtown,

UK

Ownership Yamaha corporation Norton Villiers,

Triumph and

associated

motorcycles

Sales ¥1.410billion

(Yamaha motors

annual report 2013)

£ 1.7 million (Free

company accounts.

Co.uk. (2016)

Profits ¥ 318 million -

Market focus Domestic market,

Asia, Africa USA and

Europe

Domestic, Australia,

USA

Strengths Strong variety of

versatile motorcycles

of different utilities

Classic motorcycles

weakness Low appeal in high

end markets and

affluent population

especially in Europe.

Limited variety of

utility motorcycles

Other issues Research and

development in a

variety of products is

limiting its efficiency

in producing quality

motorcycles

A high amount of

total liabilities

accrued over the eight

years of operation

totaling to about £ 9.7

million (Bizdb. Co.uk.

(2016)

Strategic option Focus on the delivery

of motorcycles to a

vastly segmented

To develop loyalty in

supply of classic

motorcycles that stirs


market. emotional biking

experience

Table 2: competitors of Triumph motorcycles

Resources analysis

VRIN analysis:

Triumph motorcycles has a rich wealth and experience in the manufacture of motorcycles. The

company has and history of over 100 years (Council 2008) in the manufacturing industry that

translates to maintenance of the tradition of manufacturing high quality motorcycles. This

experience makes it boast of having made the largest water cooled motorcycle engine. The

experience in the building of big motorcycles engines has led to the company’s engines ranking

among the top fastest in the industry. Through the experience in manufacturing engines, the

company has been able to set itself apart (Boehe & Cruz, 2010).

The company also boasts of a well established network for distributing its products throughout

Europe (Benci, 2013). It has subsidiaries that operate in the French market and another in

Germany. These subsidiaries were easy to establish as the free trade agreement of the European

Union gives the citizens of the member states the freedom to live and work from all the member

states. Being that the company is purely owned by UK citizens, it makes it easy to perform its

operations throughout Europe as opposed to other competitors from Asia and the rest of the

world. Additionally, the company has outsourced operations in Thailand. This enables it make

use of raw materials and other factors of production from the source cheaply which in turn

increases it margins.


To American riding enthusiasts, triumph offers a visa credit card. This card allows the users to

earn points each time they pay for their shopping, dining or fuel. Users can then redeem the

points for various services and gifts offered by the company.

Diagram 4: illustration of resource analysis

Virtual Chain

The company employs the internet technology and information systems in communication and

coordination of some of its activities (Rayport & Sviokla, 2000; Burn, J., Marshall, P., &

Barnett, M. (2007). Dealers can log into their online systems and register as potential dealers

offering their motorcycles and products. Customers can also access the information on the

location of dealers and stores from all the locations and countries that the company is in

Resources

Tangible resources

A qualified labor force in the

motorcycles industry (Kaplan, &

Norton, (2001)

A well formed distribution network

Capital funding (Seperich, &

McCalley, 2006)

Intangible resources

Experience of over 100 years

An established brand name

(Vallejo, Rodriguez, & Arregui-

Ayastuy, 2011)

A culture of competence

Intellectual property rights

(Sherman 2012)


operation (Grover & Kettinger, 2000). This service support its production, distribution also give

the company new prospects of performing in a dynamic environment (Warkentin, 2003).

Diagram5:Illustration of the organizations value chain (Mertins, Krause, & Schallock, 1999)

Generic Strategies

The company uses its rich history and experience as a point of differentiation. This is done by

modernizing its older models that had initially been successful and launching them in different

market segments. Recently, the company is on record to be keen on opening outlets in Thailand

(Thesundaytimes.co.uk., 2016). Additionally, the Bonneville range of motorcycles was also

launched in India. The rich experience is also used by the company to attract loyalty through

manufacture of high quality motorcycles used for racing and cruising that stirs emotions of

enthusiasts. Brand loyalty is the main idea of marketing that will be employed by the company in

this case (Vallejo, Rodriguez, & Arregui-Ayastuy, 2011).


SWOT analysis

Strengths

The company has been in the design and manufacturing industry for a very long time. This gives

it experience and history to claim some of the iconic designs that shaped the motorbike industry

(Vallejo, Rodriguez, & Arregui-Ayastuy, 2011). Through continuation of the tradition, it is in a

position to manufacture high quality motorcycles in a wide range of categories. Through its

online platform, the company has had good connection to both its dealers and customers alike.

The platform is also a special site for the marketing of its products

Weaknesses

The production of high quality motorcycles in the UK market makes the prices of such

motorcycles unaffordable to a huge population outside and within the country (Downing, 2009).

The company also focuses on the delivery of a huge variety of products and services to clients

but fails to practice social responsibility this would build its reputation in various sectors leading

to more approval of its products (Rosamond, 2009).

Opportunities

In the UK market, there is a steady increase in high income earners and affluent population.

These individuals offer a huge potential market to the luxurious huge capacity engine

motorbikes. The historical designs that the company has had for over 100 years can be

modernized and reintroduced in different markets. This gives the company an opportunity to be

creative while also remaining original and differentiated from its competitors.


Threats

The change in competition strategies is one of the major threats that the company faces. This can

cause a major reduction in the market share and subsequent drop in margins. In international

environment, the political climate and regulation is the biggest threat. Additionally, the

preference and innovation in the motorcycles industry can force their stock into obsoleteness.

A TWOS matrix and recommendations

The company can use its online platform to gather the views of its clients and dealers alike on the

best design that it can use to attract more sales. Online surveys and giving the client base the

opportunity to improve on the designs can help it identify the trends that consumers prefer

(Weihrich, Koontz & Cannice, 2013).

Production of general purpose motorcycles with reduced prices should be the major concern of

the company. Through economies of scale, the company can cover a greater customer segment.

The business units within the company can also be a point of implementing the strategy of the

company. This can help in the reduction of costs and improvement of service quality.

Research and development is also an important division of manufacturing. This department can

improve the strategies applied by different business units with the company and improve the

company’s preparedness to face the threats (Proctor, 2014). Therefore, appropriate investment in

research and development should be undertaken as a way of dealing with the uncertainties posted

by the threats (Proctor, 2014b).


ANSOFF matrix

Within the existing markets, the sustenance of operations is important. This will ensure that

profits do not dip due to poor sales. The company can use more innovative techniques and

channels such as social platform in ensuring its survival in the existing markets.

To make progress in new markets introduction of more products and services is necessary. The

idea here is to balance risk with opportunity (Shaw, 2011). This is evident in the American

market where the company offers credit card services to clients. The end result is a loyalty

scheme that ensures that the company progresses and grows in the chosen markets.

Diagram 6: The illustration of the ansoff matrix (Bachmeier, 2013).


The SAF analysis

Research and development is the initiative that can come from the ownership and management of

the company. Senior technical staff from the company can then team up with qualified

individuals to formulate the department and take up the tasks. It is upon he financial managers to

ensure that the company has planned and availed resources to this task. Alternatively, the

ownership can organize for the funding of the department. This is the most suitable

recommendation from the above analysis that would enable the company compete through

innovative strategies in the industry which are also up to date.

Recommendations:

A complete riding experience is the intention of triumph motorcycles. To achieve this position,

the company should provide a variety of motorbikes that suit a huge class of consumers through

pricing (Etro, 2007). The aim of this pricing strategy is to counter the effort of the other players

in the market. Detailed examination of the market reviles that price segmentation is one of the

major methods of improving sales. The UK market is comprised of buyers that come from the

affluent population (Arcon, n.d). This is a small percentage of the overall population.

Additionally there are buyers that have limited financial potential that would prefer more utility

in their motorcycles. As a company, the most available strategy is to exclude these players

through the use of low prices. The aim of the pricing strategy is to accommodate as many as

possible within the major markets that it operates (Keast, 2013).

Alternatively, research and innovation is an important strategy that can help the company give a

wholesome experience to the clients. It can develop a variety of products with varied


functionalities so as to give a huge customer segment the ultimate biking experience. It also

changes the nature of products that the companies are able to provide at any given time. The idea

is to improve the efficacy of the company at any time (Hawkins, Mok & Palgrave, 2015).

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entrepreneurial perspective.

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Analysis of triumph motorcycles Executive summary players like Yamaha and other local manufacturers. This work recommends two strategies to improve the market share. First, the work