uct development
Product development is a feasible option because it can be capable both in present and the prospect. This option is also
suitable to GM since it is able to exploit the needs of customers. GM is facing the threats of too much competitors in the
market and the improvement of technology is increasing rapidly. Doing more researches on GM's products and investigate and
understanding more about the favour of customers are significant. To improve the quality of services in their technology
should not be neglected in order to catch up the expect of consumers and the externally needs so the company can be
enhanced and stable in the market.
Suitability:
Due to the furious competition between the three consoles company, this
strategy is very important.
GM have to develop more innovative new products to catch up the pace of the technological advancement. This could ensure
the company to gain a step ahead of its competitiors. The technology industry requires swiftness in developing new and
innovative products.
Feasibility:
The research and development of the company is doing very well in the past few years. They had been rated the top 25 most
innovative company in the world (businessweek, 2008). In skills term, they have talent in which had leaded and developed a
lot of innovative ideas which attracted a lot of consumers from youths, adult and even elders!.
Acceptability:
Shareholders and stakeholders will agree wholly with GM's decision as technology investors, they realize that the
technology development or innovation is very important to maintain themselves into the market.
6.2 Market penetration
According to (Lynch, R., 2006), market penetration uses the existing range of products or services to attract potential
customers or consumers from competitor to expand their own market share. It basically targets the existing customers in
the present market of competitors and gain profit from it. The cost is lower, and the chance of attracting consumers is
higher.
GM uses price competitive advantage to deal with their competitors, which are Toyota, Honda, Ford...etc. When GM
introduces their brand, it is priced lower than others significantly. GM offer lower prices than competitors and it
attract competitors' consumers to have an attempt on the product due to its low price
Suitability:
This strategy is suitable to be implemented because this allows GM to grab more market shares from their numerous of
competitors in the US market,
Feasibility:
GM is capable to compete with competitors as they are financially competent with them. Since GM stated that they retain
the GM Europe section because they posses good health of liquidity again. This also shows that GM is financially secured
and there is no problem for them to compete with their competitors.
Acceptability:
Stakeholders of GM will accept the strategy as long it is p
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