BUS225_Project_Four TN

docx

School

Southern New Hampshire University *

*We aren’t endorsed by this school

Course

225

Subject

Business

Date

Apr 30, 2024

Type

docx

Pages

Uploaded by CountMorningViper23

1 Project Four: Press Release Tania Nora Southern New Hampshire University BUS 225: Critical Business Skills for Success Dr. V March 3, 2024

2 Consumers are looking for hybrid/electric vehicles. The demand for Electric vehicles has increased and will continue to increase over time. Hybrid vehicles will be selling more than non-hybrid vehicles. Both industries have high financial obligations and high rival competitors. Research findings lead to the conclusion that focusing product development and manufacturing on efficient vehicles taps into strong consumer demand and growing market segment, supporting diversification reasoning, though additional connections could be drawn out for maximum impact. The automotive manufacturing market faced several challenges in recent years due to COVID19, supply chain disruptions, changes in rules and regulations. Customers care more about safety and fuel efficiency than they do about the design of the car. COVID-19 epidemic showed us that if we continue to branch into fuel efficiency vehicles, we will be able to give our customers what they want while also increasing our sales. Electric cars will have more growth opportunities in the future. Industry is changing by focusing more on technology and eco-friendly options for more efficient vehicles. Fuel efficient vehicles require less gas to go a given distance. When we burn less gas, we cut global warming emissions and produce less pollution, while spending less on gas. Fuel Efficiency is the way to GO!!!!!

3 The company has decided to launch our fuel efficiency change in the state of Massachusetts. We chose this state because in between 2007-2019 there was an increase of 36% of the number of registered hybrid vehicles in the state. As well as that in August 2022, Governor Baker signed a major climate bill, requiring all new vehicles sold in Massachusetts must be electric by 2035. Creating this is the best opportunity for us to be able to be one of the top competitors during this change. Our company sales and revenue will increase with our diversification of fuel-efficient vehicles. With the diversification into the new industry, new job positions will be available for our staff as well as new hires. Our company will be able to provide an alternative to gas vehicles that have lower fuel costs and lower effects on the environment. Burning gasoline and diesel fuel creates harmful byproducts and vehicles emit carbon dioxide, the most common human-caused greenhouse gas. Our company will execute a diversification strategy by going into the hybrid and electric vehicle industry! This will not only open up job opportunities for the community as well as higher level positions for our staff members. Not only will making this change be beneficial for the growth of our company, but it will also create a bigger impact on our community by lowering greenhouse gases. For more information, contact: Tania Nora- Sales Department Manager

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Related Documents

BUSI650 ILP - Kaiser Permanente Introduction.docx

Discussion Thread_ Lean Six Sigma Implementation.docx

DB4.docx

Assignment 7 HDFS 239-1.docx

MRKGT.docx

case study #2.docx

nm07-actividad-6-kjhgfds.pdf

ETH560_BryantW2Assignment1.docx

BSBLDR523 kunal saini.pdf

Resultsch14.pdf

Project2Questions-ReportTemplate 2242.docx

BSBOPS502_LAP_document.docx.pdf

Recommended textbooks for you

Purchasing and Supply Chain Management

Operations Management

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Cengage Learning

Marketing

ISBN:9780357033791

Author:Pride, William M

Publisher:South Western Educational Publishing

Principles of Management

Management

ISBN:9780998625768

Author:OpenStax

Publisher:OpenStax College

SEE MORE TEXTBOOKS