We are promoting the truck tent that sets up in the bed of the Ford pickup trucks midsize and fullsize. This quick and easy tent will not only keep you out of the elements that come with the outdoors but also keep you off the ground from the morning dew to the bugs that crawl at night.
With truck sales and outdoor gear sale rising this puts Ford in a good place when launching the truck tent.
Industry Trends
The industry trends for us to watch is of course truck sales and tent and outdoor gear sales. We want to see if these two products together can still stay on the upswing with sales like they have individually over the years.
Over the years people thought of trucks as work horses and vehicles used for farms or to haul loads. Now with all the technolgy that are put into trucks they are like driving luxury SUVS. So now more and more are buying trucks. “The range of options available in the full-size truck market right now is catching the eye of buyers with more discretionary income, and many of them are ditching their SUVs to make the jump. And since full-size trucks retain their value so well, once a shopper gets pulled into the fold they’re more likely to remain loyal to the segment.” (Jim Gorzelany, 2020). So the way truck sales are trending it could be good for us and our truck tent. During our current times with the COVID-19 pandemic going on we are seeing crazy sales numbers.
Now we have to look at tent and outdoor gear sales. The global camping tent market size was valued at USD 2.14 billion in 2018 and is projected to expand at a CAGR of 6.3% from 2019 to 2025 (Grand View Research, 2020). So people are getting outside more and more and looks like they will continue that trend for future years.
Legal, ethical, and industry standards
I think with Ford we have to uphold those standards that Ford has had over the years with the quality of their trucks and other vehicles. So on the legal end I think we have to make sure we let buyers know that this tent is to be only put up when the vehicle is parked and taken down when the vehicle is in motion, so all safety standards will have to be passed and that will also make sure we pass all legal issues too. We would have to also go by and legal and ethical standards that go with making tents as well, like no choking hazards and make sure the product is made out of material that is safe for both people and the environment. I wouldn’t think that we would have to pass any vehicles laws since the truck is not the new product but the tent is just the add on onto the truck.
Limitations
I have not come across to many limitations besides having to out source a company that would have to make the tent. One way to get around that would be to team up with a current tent manufacturer and make it more of a limited edition when you buy the new Ford truck.
References
https://www.grandviewresearch.com/industry-analysis/camping-tent-market
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