The Mercedes Benz is too expensive to buy in the current economic conditions. The technological outlook of the industry is challenging while, the buyer power is also higher. Additionally, suppliers are executing their substantial level on companies and the barriers of entry and exit are also believed to be substantially powerful. The modifying economic conditions of the world are warranting the companies to balance out differentiation and cost effectiveness so that Mercedes can be sold in emergent markets of the world. A Business Plan for Mercedes Benz: A Changing Paradigm Introduction The Mercedes is considered one of the most expensive brands in the modern array of cars and vehicles. The company is historically targeting elite class of the world in order to generate sales for the past number of decades. However, the economic recession and depression in advanced parts of the world has seriously influenced the business of the featured company. The focal shift in the direction of emerging market also caused the sales of the product to drop significantly. The developing regions of the globe do not have sufficient buying power needed to purchase luxurious rides in which the company specializes. However, a strategic modification is required in order to cater changing consumer preferences and behaviors in the global arena of the commerce (Kotler, Keller, Brady, Goodman, & Hensen, 2009). The company needs to develop a strategy to disseminate the benefit of long term belief that Mercedes is a brand that is reserved for an elite class of the world. Nevertheless, the per capita income in all over the globe is declining and the sense of harmony and equality is going to prevail in a few years from now. The idea of economic supremacy is going to be word of past in the future. The product with the brand name of Mercedes has finally lost its appeal because nowadays nobody is fortunate enough to afford it to say the least. The subunits of the companies that were hugely lucrative in the past were recently closed down as a response of insufficient demand (Baker & Hart, 2007). The latest closure took place in the English economy because the demand was not enough to house a local production unit. The changing economic paradigm has forced the people of all nations to become price sensitive as the level of disposable income is declining in all regions (Lindstrom, 2008). Vision and Mission Statement of the Company “A pioneering spirit and power of innovation for sustainable mobility. For almost 125 years we have been developing answers to the automotive challenges of the respective eras. As the inventors of the automobile, we are equally committed to protection of the climate and the environment and to the safety of our vehicles and accident prevention. Our customers - and all other road users - throughout the world can put their trust in this commitment” (Hashmi & Biesebroeck, 2013). The vision statement of the company is always considered as an attempt to talk to the future and give a direction to the company. The vision statement in every case must define the core values of the company for that it stands. Secondly, it is of great importance to keep on modifying the statement according to the changing environment of the industry. The featured
A Business Plan for Mercedes Benz: A Changing Paradigm Name Institution Contents Executive Summary 2 Introduction 3 Market Overview and Competitor Analysis 5 Buyer Power 5 Substitute Products 6 Barriers to Entry and Exit 6 Technological Outlook 7 Supplier Power 7 Product Analysis 7 SWOT Analysis 9 Strengths 9 Weaknesses 9 Opportunities 9 Threats 9 Product Development Strategy in South Asia and New Product Idea 9 Findings 11 Conclusion 13 References 15 Executive Summary The Mercedes is the most popular brand of the past…
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