question_answer 11)

Paragraph An auto company C Ltd is facing a problem of declining market share due to increased competition from other new and existing players in the maket. Its competitiors are introducing lower priced models for mass consumers who are price sensitive. For quality conscious consumers, the company is introducing new models with added features and new technological advancements.   Prepare a model business plan for C Ltd to meet the existing challenge. You need to be very specific about quantitative parameters. You may specify which type of plan you are preparing.

Answer:

In such a situation, formulating a strategy would be advisable. A strategy is a single use plan. It is normally made to fight competition in the market. The model business plan, i.e., strategy will be (i) It is objective and its purpose is that how much sales it wants to increase over a specified time. (ii) The company should then list down its strengths and weakness. This brings in light as to what will be easy and what will be difficult. (iii) Aggressive, advertising and sales promotion techniques to be adopted.