Question

should be done on electric cars

create an overview of your selected market domain that identifies and examines factors and the impact factors have on your selected domain. Analyze the factors that contributed to the obsolescence or dissolution of notable companies in your selected market domain in the recent past. Make sure to discuss both inhibiting and enabling factors in your analysis. Assess the impact of the factors you analyzed on opportunities for change and innovation in the business environment of your selected market domain

Answer 1

Answer:

Electric Cars – We selected the electric car market domain. This domain has the key factors like electric car technology acceptance, suitability to customer needs, pricing or paying capacity, service capability etc. The impact factors will be how the customer will understand this technology in the given market domain, how the customer will use this technology in the given market and how the customer will get the service event for this model etc.

The factors that contributed to the obsolescence or dissolution of notable companies in our selected market domain in the recent past are as below

• Pricing factor: Pricing is the key factor that resulted in obsolescence of the notable company in our region. Pricing is higher for customers and they got low price options.
• Legal Norms: Legal norms are the key factor that has made obsolete the current technology products as it is being harmful for the environment. This is the inhibiting factor for the companies, as they need to meet the legal norms.
• Substitute Entrant – The entry of substitute is the key entrant that makes obsolete some of the technology products in the market. Electric car is the substitute technology for the current fuel based cars in the given market domain.
• Value Addition – High value addition to customer or value for money is the key factor that had made notable companies obsolete in the market. Electric car is a more value added technology option for the customers. This is the enabling factor for obsolescing the products in the market.
• Revenue generation capability – This is the final objective of the company to generate target revenue and many company products get obsolete as they are not generating the desired revenue.

Assess the impact of the factors we analyzed on opportunities for change and innovation in the business environment of our selected market domain: Change and innovations are the key elements that have significant impact on the electric car market domain. The electric car market needs to be route through the process if change and innovations. In fact the entry of electric car is an outcome of the change and innovation process. The change and innovation process helps to get better value addition product for the customers, so one need to be prepared and ready to accept the opportunity of change and innovation for the electric car market domain so that we can be remain competitive and have good presence in the market and retain the customers for long duration.