Out of my 2 strategies, I have chosen strategy 1 which was lowering the costs of the cars. Although, there are more benefits then costs, for example a cost is, that they can lose quite a lot of money, and it can also increase the competition from other automakers. However, there are more benefits, for example more produce can be distributed throughout the world and they can earn more money as more people will be able to buy the cars, another example is that they could establish customer support and service centres in new markets. Overall, there are some costs that may affect the business, but there are more benefits that will contribute overall help the business.

Question

Out of my 2 strategies, I have chosen strategy 1 which was lowering the costs of the cars. Although, there are more benefits then costs, for example a cost is, that they can lose quite a lot of money, and it can also increase the competition from other automakers. However, there are more benefits, for example more produce can be distributed throughout the world and they can earn more money as more people will be able to buy the cars, another example is that they could establish customer support and service centres in new markets. Overall, there are some costs that may affect the business, but there are more benefits that will contribute overall help the business.

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Answer 1

After considering both strategies, I have decided to go with strategy 1, which focuses on reducing the costs of our cars. While there are potential drawbacks, such as the risk of losing money and increased competition from other automakers, the benefits outweigh these concerns.

Lowering the costs of our cars will allow us to distribute our products more widely across the globe. As a result, more people will have access to our vehicles, leading to increased sales and revenue. Additionally, with a larger customer base, we could explore the possibility of establishing customer support and service centers in new markets. This would not only enhance the overall customer experience but also open up new opportunities for us to expand and grow our business.

Although there are certainly some costs associated with this strategy, the benefits far outweigh them. By making our cars more affordable, we can tap into new markets and increase our market share. This will ultimately contribute to the overall success and growth of our business.

In conclusion, while there are potential risks and costs involved in lowering the costs of our cars, the benefits, such as increased sales, expanded customer support, and market expansion, outweigh these concerns. Ultimately, this strategy will contribute to the long-term success and profitability of our company.