A two-wheeler company GVS Ltd. is facing a problem of declining market share due to increased competition from new and existing players in the market. The competitors are introducing lower prices 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.
(i) Please specify the type of plane you seek to remove those limitations ?
A two-wheeler company GVS Ltd. is facing a problem of declining market share due to increased competition from new and existing players in the market. The competitors are introducing lower prices 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.
(i) Please specify the type of plane you seek to remove those limitations ?
(i) The type of plan to be prepared for GVS Ltd. is standing plans like strategy, procedure and methods. As GVS Ltd. wishes to rectify the declining market share, in the long run, a Strategy plan will be needed. Procedure plan is more specific and action-oriented, which GVS Ltd. can follow for manufacturing the new models with technologically advanced features. Method plan is also needed that prescribes each step of a procedure to be carried out for manufacturing the suggested cars.
(ii) The limitations identified in this case are that the competitors introduced low priced models, at low prices for mass consumers. This strategy of competitors made GVS's earlier plans ineffective forcing them to reintroduce new plans for targeting niche market segment that is growing with rising purchasing power. Targeting a new market segment is the best strategy for GVS to establish itself as a good brand image. Gradually, they can move into lower market segments using the new technologically advanced methods and capture the entire market.
(i) The type of plan to be prepared for GVS Ltd. is standing plans like strategy, procedure and methods. As GVS Ltd. wishes to rectify the declining market share, in the long run, a Strategy plan will be needed. Procedure plan is more specific and action-oriented, which GVS Ltd. can follow for manufacturing the new models with technologically advanced features. Method plan is also needed that prescribes each step of a procedure to be carried out for manufacturing the suggested cars.
(ii) The limitations identified in this case are that the competitors introduced low priced models, at low prices for mass consumers. This strategy of competitors made GVS's earlier plans ineffective forcing them to reintroduce new plans for targeting niche market segment that is growing with rising purchasing power. Targeting a new market segment is the best strategy for GVS to establish itself as a good brand image. Gradually, they can move into lower market segments using the new technologically advanced methods and capture the entire market.
