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.
After carefully considering both strategies, I have decided to go with strategy 1, which involves reducing the costs of our cars. While there are potential drawbacks, such as the possibility of losing money and facing increased competition from other automakers, the benefits far outweigh these concerns. By lowering costs, we can expand our production and reach a wider global market, ultimately leading to increased profits. Additionally, this strategy opens up opportunities for us to establish customer support and service centers in new markets. While there may be some costs associated with this decision, the overall advantages will greatly assist our business.
