Competition

In the competitive landscape of surfboards manufacturers and sellers in British Columbia, ETRC faces
both direct and indirect competitors. To gain a better understanding of the competition, three other
surfboard manufacturers and sellers were analyzed for their strengths and weaknesses. Academic papers
were not used for this assessment; instead, information was gathered from competitors' websites and
social media platforms.

Competitor 1: Barracuda Surfboards (Victoria, BC)

Barracuda Surfboards boasts several notable strengths that contribute to its appeal and uniqueness.
Firstly, its location in Victoria, BC provides surf enthusiasts for a fast and easy access to their store and
products, making it particularly convenient for potential customers in CRD to view and feel their
products first hand. Moreover, Barracuda Surfboards prides itself on their support for local shapers,
which showcases a genuine interest in fostering business growth for local businesses. Additionally, the
company showcases the testimonial of Noah Cohen (Canadian National Team Surfer) on their web page
stating they are “Some of the best boards I’ve surfed”, which gives them credibility and reliability when
looking for high quality surfboards

However, Barracuda Surfboards does have its share of weaknesses. One notable drawback is that their
product portfolio is not wide, offering nothing but surfboards; they don’t have any additional accessories
as bags or clothing. This inconsistency can make surfers go to other stores searching for these most
needed accessories and encountering themselves with other board options, potentially risking client
loyalty. Another weakness lies in their web page design, which is hard to read because they use small
fonts, and on their products page, there is limited information about the surfboards, being the most
noticeable the lack of material specification.

Considering these weaknesses, Barracuda Surfboards could benefit from product diversification and web
page enhancing, exploring other options while continuing to support locals and potentiating their public
figures endorsing.

Competitor 2: Coastline Surf and Sport (Victoria, BC)

Coastline Surf and Sport boasts several notable strengths that set it apart in the world of surfing (and
other sports). Firstly, their product portfolio is highly diverse and complete, including diverse products
for surfing, snowboarding, and skating; besides a wide variety of accessories and clothing related to
these sports. This business configuration allows for sport enthusiasts to find almost everything they need
without the need to visit any other businesses. Secondly, they have integrated the “West Coast Lifestyle”
values into their business, making it resonate with potential customers, surfers, and snowboarders along
BC; and their physical store based in Victoria offers their target market an easy access location to visit
and experience their products.

However, it's important to acknowledge some weaknesses within Coastline Surf and Sport. One notable
limitation is related to market saturation. The highly diverse product portfolio may lead to challenges in
effectively managing and promoting such a wide range of products. Ensuring that each product category
receives sufficient attention and marketing can be a challenge, and there is a risk of market saturation.
Also, the possibility of brand dilution exists; the integration of the "West Coast Lifestyle" values is a
strength, but there's a risk of diluting the brand identity if not managed carefully. It's crucial to maintain
a cohesive brand image that resonates with the target market without becoming too broad or losing
focus.

To maintain and strengthen their market position, Coastline Surf and Sport should continually assess and
address these potential weaknesses while building on their strengths. This could involve refining their
marketing strategies, optimizing their product mix, and adapting to changes in consumer preferences
and shopping behavior.

Competitor 3: Hidden Village Surf Craft and Design (Victoria, BC)

Hidden Village Surf Craft and Design boasts several strengths that contribute to its appeal in the
world of surfing. Firstly, their “craft” positioning allows them to own an important niche within the
surfboard market; the brand is really connected in a personal level to “Rosin”, the owner of the business
and board designer and crafter. These allows the business to position itself as a highly valued and
dedicated player in the premium segment. Secondly, they focus a lot on custom board making and
community involvement, which appeals to a large segment of the market, especially the Gen Z, which
are attracted to these kinds of social initiatives and especially to surfing, averaging 9% of total surfers
within the Gen Z (YPulse, 2023).

However, it's important to acknowledge certain weaknesses within Hidden Village Surf Craft and Design.
One potential challenge is the competition it may face from other upcoming shapers and brands with
lower prices. Outsourcing production with high quality is becoming increasingly common, and if they
don’t increase their brand value and fidelity, they may risk losing customers that value benefits instead
of brand value. Additionally, they also face potential limited scalability challenges, since the personalized
and craft-focused approach may limit their growth. If the business heavily relies on the personal
connection with the owner and the custom board making process, expanding operations while
maintaining the same level of personal touch could be challenging.

It's essential for Hidden Village Surf Craft and Design to be aware of these potential weaknesses and
actively address or mitigate them as part of their business strategy. Regularly reassessing the market,
staying innovative, and maintaining a strong understanding of customer needs will contribute to long-
term success.

New Competition Prospects

The surfboard market scene in CRD faces the prospect of new competition on multiple fronts. Firstly,
local emerging artisan brands may appear, and since the trend of supporting local businesses and
artisans is growing, this niche market could be subdivided, risking business profitability for existing
players.

Secondly, the landscape may witness increasing competition from sustainable and eco-friendly brands.
With increasing awareness of environmental issues, there's a rising demand for sustainable and eco-
friendly products. New entrants might emphasize eco-conscious manufacturing processes, materials,
and recycling initiatives.

Lastly, rental and subscription models are still a latent risk. Businesses may explore new models, such as
surfboard rentals or subscription services, allowing customers to try different boards without committing
to a purchase. This approach could cater to beginners or tourists who want to experience surfing without
investing in a board.

Analysis of the Marketing Mix

In the dynamic surfboard market of the Capital Regional District (CRD), a comprehensive approach to the
4 Ps is integral for brand success.

In terms of product, it is imperative to offer a diverse and inclusive range, covering shortboards,
longboards, fish boards, and other specialized models to cater to surfers of varying expertise.
Furthermore, the provision of customization options, allowing surfers to personalize their boards with
unique designs and materials, enhances the brand's appeal.

The pricing strategy should be carefully tailored, adopting a tiered pricing approach that reflects the
intricacies of manufacturing, the quality of materials, and the incorporation of innovative features.
Emphasizing the value-added aspects of surfboards justifies premium pricing, while occasional
promotions and discounts stimulate sales and cater to price-sensitive consumers.

Regarding place, establishing a strategic distribution network in popular surf shops, beachside retail
outlets, and maintaining a robust online presence ensures accessibility to a broad customer base.
Collaborations with local surf schools and clubs, forming exclusive partnerships, contribute to increased
visibility and community engagement.

Promotion strategies should focus on a digital-first approach, leveraging social media platforms and
online advertising to showcase product features, customer testimonials, and unique brand narratives.
Collaborations with local influencers and athletes, combined with community engagement initiatives,
further enhance the brand's credibility and reach within the local surf community. By consistently
refining and aligning these elements, surfboard businesses in the CRD can navigate market trends, meet
customer expectations, and establish a resilient presence in the competitive surf industry.

Here is an analysis per competitor:

Table 1.1: Competitor’s marketing mix analysis

Competitor Product Price Place Promotion

Barracuda Narrow focus Competitive Local Limited online
Surfboards on surfboards pricing presence in presence
Victoria, BC
 Coastline Surf Diverse Varied pricing Physical store Strong online
and Sport product range based on in Victoria; and offline
(surfing, product multiple marketing,
snowboarding, categories and distribution community
skating) brands channels engagement

Hidden Craftsmanship Premium Strategic Digital-first

Village Surf emphasis, pricing with distribution in approach,
Craft and custom board customization popular surf social media,
Design making, options shops, online influencer
community presence collaborations
involvement

To do well in the competitive surfboard market, "Enjoy the Ride Company" needs to make some smart
moves. They should offer different types of surfboards, like shortboards and longboards, to attract
different kinds of surfers. Being creative and letting customers customize their boards will make the
brand stand out. Telling a good story about the brand, keeping prices fair, and selling online will help
connect with more people. Using social media, teaming up with local surfers, and being part of surf
events will make more folks notice the brand. Making sure the boards are good quality, asking customers
what they think, and being eco-friendly can help build trust and keep up with what people want. If they
do these things well, "Enjoy the Ride Company" can become a standout in the surfboard world.

References:

YPulse. (2023, July 29). Gen Z wants to get outside, but they need brands to guide the way. LinkedIn.
https://www.linkedin.com/pulse/gen-z-wants-get-outside-need-brands-guide-way-ypulse/