We completed an analysis of Indian Motorcycle's current situation since being acquired by Polaris. We completed market research, conducted interviews with Indian fanatics, collectors, dealers, etc., competitive analysis, and watched "The World's Fastest Indian", starring Anthony Hopkins. Indian Motorcycle has a fantastic legacy, and our research proved that they are in a unique position to capitalize on their brand and position themselves into a market that allows them to regain an identity that has been lost, modified, and adjusted over the past 100 years. This presentation is a simple and visual aid we used to tell the story of Indian Motorcycle and to make our recommendation.

2. “The most important thing to consider about the
acquisition of the Indian Motorcycle Company is that we
gain a brand. A brand with a living history. A brand that
means something to people. A brand that stirs passion
in hearts of the motorcyclist ...This is what we are
selling. The brand image, the feeling”.
- Scott Wine, CEO Polaris Industries

5. GEORGE HENDEE & OSCAR HEDSTROM
1901 1917 1930 1939 1945

6. GEORGE HENDEE & OSCAR HEDSTROM
1901 1917 1930 1939 1945

7. WWI:
60% TO MILITARY
1901 1917 1930 1939 1945

8. WWI:
60% TO MILITARY
DUPONT
1901 1917 1930 1939 1945

9. WWI: WWII:
60% TO MILITARY 100% TO MILITARY
DUPONT
1901 1917 1930 1939 1945

10. WWI: WWII:
60% TO MILITARY 100% TO MILITARY
PURCHASED BY
DUPONT RALPH B. ROGERS
1901 1917 1930 1939 1945

11. 1953 1970 1985 1998 2005 2011
1954

12. 1953 1970 1985 1998 2005 2011
1954

13. 1953 1970 1985 1998 2005 2011
1954

14. 1953 1970 1985 1998 2005 2011
1954

15. 1953 1970 1985 1998 2005 2011
1954

16. 1953 1970 1985 1998 2005 2011
1954

19. DUPONT PURCHASED BY
RALPH B. ROGERS
1901 1917 1930 1939 1945 1953 1970 1985 1998 2005 2011
1954

20. DUPONT PURCHASED BY
RALPH B. ROGERS
1901 1917 1930 1939 1945 1953 1970 1985 1998 2005 2011
1954

21. HOW
CAN POLARIS
S U C C E E D
WHERE SO MANY HAVE
FAILED?

22. RESOURCES

23. $4 BILLION

24. $4 BILLION
U.S. HEAVYWEIGHTS

25. $4 BILLION
U.S. HEAVYWEIGHTS
$400 - $600 MILLION
(PREMIUM MARKET)

26. $4 BILLION
U.S. HEAVYWEIGHTS
$400 - $600 MILLION
(PREMIUM MARKET)
*SOURCE: IBIS, “Motorcycle, Bike & Parts Manufacturing in the US,” March 2012. Datamonitor,”Motorcycles in the United States,” September 2010. U.S. Census Bureau 2010. Income based on number of
households 45 to 64 earning over $100,000 per year.

27. MATURE MARKET

28. MATURE MARKET
Harley Rider - Average age increased ~45 to 49 over the last five years.
*SOURCE: NY Times, “Harley, You’re Not Getting Any Younger,” March 2009, JD Power and Associates 2010 U.S. Motorcycle Competitive Information Study.

29. MARKET SHARE
*SOURCE: Powersports, 2011

30. MARKET SHARE
*SOURCE: Powersports, 2011

31. MARKET SHARE
HD - 33%
*SOURCE: Powersports, 2011

32. MARKET SHARE
HD - 33%
VICTORY - 2%
*SOURCE: Powersports, 2011

33. MARKET SEGMENTATION
*SOURCE: Polaris Internal Memo 2011

34. MARKET SEGMENTATION
DIE HARDS - 39%
*SOURCE: Polaris Internal Memo 2011

35. MARKET SEGMENTATION
DIE HARDS - 39%
PERFORMANCE ENTHUSIASTS - 21%
*SOURCE: Polaris Internal Memo 2011

36. MARKET SEGMENTATION
DIE HARDS - 39%
PERFORMANCE ENTHUSIASTS - 21%
EVERYDAY RIDERS - 15%
*SOURCE: Polaris Internal Memo 2011

37. MARKET SEGMENTATION
DIE HARDS - 39%
PERFORMANCE ENTHUSIASTS - 21%
EVERYDAY RIDERS - 15%
SHOW OFFS - 14%
*SOURCE: Polaris Internal Memo 2011

38. MARKET SEGMENTATION
DIE HARDS - 39%
PERFORMANCE ENTHUSIASTS - 21%
EVERYDAY RIDERS - 15%
SHOW OFFS - 14%
WEEKEND RIDERS - 11%
*SOURCE: Polaris Internal Memo 2011

39. MARKET SEGMENTATION
DIE HARDS - 39%
PERFORMANCE ENTHUSIASTS - 21%
EVERYDAY RIDERS - 15%
SHOW OFFS - 14%
WEEKEND RIDERS - 11%
*SOURCE: Polaris Internal Memo 2011

41. “NOT a fan of the soccer mom on a Harley.”
– Shelly Maynard, California
“It’s probably just a ploy to bring the yuppie styles
back to buying since sales are down.”
– President, Springfield, Ohio Chapter
*SOURCE: HDForums, “United by Independents” campaign

42. STRATEGIC
OPTIONS

43. $10K SPORTSTER COMPETITOR
SCOUT
PREMIUM DOMESTIC
PREMIUM INTERNATIONAL

44. SPORTSTER COMPETITOR
$10K PREMIUM DOMESTIC
SCOUT
PREMIUM INTERNATIONAL

45. SPORTSTER COMPETITOR
$10K PREMIUM DOMESTIC
SCOUT
PREMIUM INTERNATIONAL

46. SPORTSTER COMPETITOR
$10K PREMIUM DOMESTIC
HIT & MISS STYLE
SCOUT
PREMIUM INTERNATIONAL

47. SPORTSTER COMPETITOR
$10K PREMIUM DOMESTIC
HIT & MISS STYLE
SCOUT CAN’T COMPETE ON COST
PREMIUM INTERNATIONAL

48. SPORTSTER COMPETITOR
$10K PREMIUM DOMESTIC
HIT & MISS STYLE
SCOUT CAN’T COMPETE ON COST
UNKNOWN TO AUDIENCE
PREMIUM INTERNATIONAL

49. $10K SPORTSTER COMPETITOR
SCOUT
PREMIUM DOMESTIC
PREMIUM INTERNATIONAL

50. $10K SPORTSTER COMPETITOR
PREMIUM INTERNATIONAL
SCOUT
PREMIUM DOMESTIC

51. $10K SPORTSTER COMPETITOR
PREMIUM INTERNATIONAL
SCOUT
SPREAD TOO THIN
PREMIUM DOMESTIC

52. $10K SPORTSTER COMPETITOR
PREMIUM INTERNATIONAL
SCOUT
SPREAD TOO THIN
PREMIUM DOMESTIC
McDONALDS vs
AMERICAN BURGER

53. $10K SPORTSTER COMPETITOR
SCOUT
PREMIUM DOMESTIC
PREMIUM INTERNATIONAL

54. $10K SPORTSTER COMPETITOR
SCOUT
PREMIUM DOMESTIC
PREMIUM INTERNATIONAL

55. $10K SPORTSTER COMPETITOR
SCOUT
PREMIUM DOMESTIC
NICHE OPPORTUNITY
PREMIUM INTERNATIONAL

56. $10K SPORTSTER COMPETITOR
SCOUT
PREMIUM DOMESTIC
NICHE OPPORTUNITY
BRAND BUILDING
PREMIUM INTERNATIONAL

57. $10K SPORTSTER COMPETITOR
SCOUT
PREMIUM DOMESTIC
NICHE OPPORTUNITY
BRAND BUILDING
GROSS PROFIT
PREMIUM INTERNATIONAL

58. RECOMMENDATIONS

59. RECOMMENDATIONS
1) PREMIUM DOMESTIC

60. RECOMMENDATIONS
1) PREMIUM DOMESTIC
2) DEALER DEVELOPMENT

61. PREMIUM DOMESTIC

62. PREMIUM
PREMIUM DOMESTIC
HERITAGE
MARKETING

63. PREMIUM
PREMIUM DOMESTIC
HERITAGE
MARKETING
$18K - $38K

64. PREMIUM
PREMIUM DOMESTIC
HERITAGE
MARKETING
$18K - $38K
150 DOMESTIC
DEALERS

65. DEALER DEVELOPMENT

66. DEALER DEVELOPMENT
CORPORATE CONSULTING

67. DEALER DEVELOPMENT
CORPORATE CONSULTING
FLAGSHIP 20

68. DEALER DEVELOPMENT
CORPORATE CONSULTING
FLAGSHIP 20
”DEALER VISION” DESIGN