With new leadership, Mastercraft will look to expand boat offerings
With new leadership at the helm, MasterCraft will explore model offerings that serve a wider audience while also streamlining the boat builder’s operations, the company’s just-announced President and CEO Terry McNew told Boating Industry magazine.
McNew said the water sports boat builder will research ways to offer models at a lower price point while being careful not to disenfranchise MasterCraft’s current offerings.
“To be able to grow the company, we will look at different avenues that will support our brand and serve the wider market because [the water sports] market has gotten smaller,” McNew said.
McNew said MasterCraft will not stray from its specialized X-Star and ProStar models, two offerings that have gained reputations as premier models for wakeboarding and water skiing.
“Although those water sports segments may not be the first boat purchase for any brand, we will not move away from offering the best boat for the water sports enthusiast,” McNew said. “That is the heart of MasterCraft.”
While serving as president for Correct Craft six years ago, McNew said clearly defined lines existed between the different segments, but today those lines have become blurred. For example, inboard/outboard boat models now offer a wakeboard tower and feature upholstery and graphics similar to water sports boat brands, McNew said.
With the blurring of those lines, McNew said MasterCraft would also research crossover models appealing to both water skiers and wake boarders.
“We want to dig into it a bit more,” he said. “If there is a customer in the middle, we will understand it and go after it if it makes financial sense.”
McNew also said he will be leveraging his extensive operations experience while with Brunswick to improve MasterCraft’s cost position and implement more lean manufacturing practices.
As the company looks to expand its model offerings, McNew said he is focusing on combining his passionate workforce with the voice of the customer, which he believes will increase efficiency, reduce cycle time and drive product development.
“If we can improve that cycle time, it is going to make us very nimble,” McNew said. “We have a good process for understanding what the market wants, and not just anticipating, but being truly product driven.”