General Motors Financial Difficulties
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There has been much written lately about GM's failures to respond to changes in the demand for cars. How would you characterize their failure so far?
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Solution Summary
This discussion focuses on the failure of General Motors and the need for government assistance. Factors discussed include marketing strategy and development strategy, as well as failure to acknowledge global competitive factors.
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GM has been accused of failing to consider changing demand for the vehicles it produces for
consumption. Consumer demand changes, as economic conditions change, as new trends develop, and
as consumer needs change. One of the ways the company has failed is by offering a more extensive
product line than competitors (More, 2009). An expansive product line gives consumers greater choice,
and may appear to be more closely meeting the needs of various market segments. But, without
consumer and market research, an organization may not correctly identify those products that the
largest consumer groups demand most. General Motors CEO Rick Wagner refused to acknowledge
these factors as contributing to the company's financial demise. ...
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- MEd, Jones International University
- BSc, DeVry University
- MPH, Walden University
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