Challenges Facing Goodyear
Problem Statement
There are several challenges facing Goodyear in the current
environment. Our sales have leveled off in the past few years and we
need to increase our market share in order to improve these numbers.
Our debt is high and our interest payments are eating away at our
profiles so we need to get more income to pay down this debt. The
more immediate question is if Goodyear should launch its new line of
Aquatred tires. The trend has been toward higher mileage tires and
the Aquatred tire is not in line with this trend, being more of a
higher end tire. Additionally, if we do determine that we are going
to launch the Aquatred, do we start the advertising during the
Olympics when we don’t have all the tire sizes available? We are also
determining if remaining with our current distribution channel is the
best approach or if we need to expand the way our tires get to
market. If we decide that we are going to expand our distribution
channels, we then have to determine which tires, we are going to offer
in the new channels. Finally, our market share in the replacement
market is lacking not sure this is true, and since consumers feel that
buying tires is a necessity we have to find a way to make them excited
about purchasing our product. Goodyear used to be considered the
Gorilla in tire producers, but with increased competition in recent
years, that is not longer the case.
Issues:
Consumer model and expectations
Essentially, consumers fall into 4 basic segments.
§ There are Price-constrained buyers who buy the best brand they can
afford. They do not show any loyalty toward any brand and tend to
shop around for tires so we would have to get our tired in front of
them and be the best priced.
§ There are the Value-oriented buyers that shop around a lot to get
the best price, but would generally buy major brands only so we would
probably be able to capture this buyer because of our brand name, but
we would need competitive pricing.
§ There are the Quality buyers who were loyal to the outlet and the
brand of tire. These consumers were generally upscale and are going
to be our main target audience and the challenge here would be to get
the tire to the outlet that the consumer is comfortable buying at and
communicating the difference in our tire verses our competitors.
§ Finall...
... middle of paper ...
... and concern was put forth by the company to
try to make tires as safe as possible. This is a positive spin on the
company as a whole, which should translate to higher sales for our
other tire products.
In conclusion, we have a unique opportunity to take advantage of a
niche market that is as of yet untapped. We have already purchased
advertising time at the Olympics for which we are going introduce our
new Aquatred tire, as well as promote Goodyear’s continuing quest for
safety and quality. We are going to open up new distribution channels
for our lower end tires so as to increase market share in these areas,
while ensuring that our independent dealers sales are respected and
promoted as much as possible. This is a very exciting time for
Goodyear and the Aquatred tire. A little long, but I like your plan of
action.
Most important attributes for consumers when purchasing a new tire:
1. Tread Life
2. Wet Traction
3. Handling
4. Snow traction
5. Dry traction
US market for Passenger Tires
Replacement OEM Total
Industry 152.0 43 195
Goodyear 22.8 16.3 39.1
Goodyear’s percent 15% 38% 20%
Goodyear Tire and Rubber Company specializes in the design, manufacturing, and distribution of tires worldwide. Founded in 1898, the company primarily sells passenger, light truck, and highway trucks tires for the original equipment tire and the replacement tire market. Goodyear operates 7 rubber plantations and 44 tire product plants in 28 countries. Unfortunately, the tire company loss 3.2% market share between 1987 and 1991. Sears, Roebuck and company proposed an option to sell the Goodyear’s Eagle brand in their stores. Since the 1920s, the company has not offered its tires to mass-merchandise chain stores. Because of the recent decline in market share, Goodyear Tire and Rubber Company must reevaluate the Sears’ proposal.
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I can tell you right now these aren't going to hold a patch. They're shot through." (page 40). Mattie was exceptionally nice to Taylor and told her to come inside and have some coffee. After drinking a cup of coffee and giving Turtle some juice, Mattie came up with the idea that Taylor could work for her. Taylor, being the one who doesn't like tires in the first place, accepted the generous offer, but went almost nuts with the huge tire wall that surrounded her.
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With the competitiveness of the US tire industry in 1992, Goodyear Tire and Rubber Company is reconsidering a proposal from the department store Sears to carry Goodyear Eagle brand tires. With a $38 million loss in 1990 and a change in top-level management in 1991, the Sears proposal from 1989 was being looked at again. These new top-level managers have two decisions to make: whether Sears should carry only the Goodyear Eagle brand or all of Goodyear’s tire line. Goodyear will have to look at their distribution policy and the potential backlash that could come from their independent franchised dealers.
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