Cesim Global Challenge
This may also have been influenced by change of tastes by our customers which would have resulted from poor production. However, the most rampant cause of the drop in the market share is the high price of our commodities in the USA. This being an extremely crucial market to our company, we were not in a position to maintain low prices which could have been influenced by the high production cost and costly promotion strategies. This is an extremely significant stage that would aid our company in evaluating the various strategies that we would adopt to ensure the demand for our products kept on increasing. It would be extremely easy to determine the best promotional strategy for the company to ensure that the business remains competitive and it is in a position to acquire an increasing market share as time elapses (Alexander & Britton, 2004). The company will also be able to set up a competent research and development team that would give the company a chance to analyze the market, demand trends, preferences and tastes of clients as well as new technology in the industry.
Business Management Simulations | Learning by Doing | Cesim. (2013). Business Management Simulations | Learning by Doing | Cesim. Retrieved May 21, 2013, from http://www.cesim.com
Alexander, D., & Britton, A. (2004). Financial reporting (7th ed.). London: Thomson Learning.
Gill, J. O., & Chatton, M. (2001). Financial analysis: the next step (Rev. ed.). Menlo Park, Calif.: Crisp Publications.
Porter, M. E. (1980). Competitive strategy: techniques for analyzing industries and competitors. New York: Free Press.