Growth MatrixWestinghouse Essay Example | Topics and Well Written Essays - 500 words

Growth MatrixWestinghouse - Essay Example First, it is important for the company to consider its cost of products and services. A drastic reduction in prices of similar goods and services is sure to yield massive impact because of prevailing economic situation. It is common knowledge that economic hardship presently prevails in most economies where Westinghouse has offices. To this end, any move to make customers save little monies would be highly appreciated by them. Secondly, it is important to focus on customer satisfaction. The reason why this cannot be overlooked is that the competitive advantage that needs to be built will be built mainly to attract customers. If these customers are given services that make them satisfied then surely their first option among existing companies is going to be Westinghouse. Unlike market penetration, market development has to do with the creation of new market. This may be quite costly for Westinghouse as compared to the penetration of existing markets. However, this has its own merits. For instance after studying the prevailing market for a while, the creation of new market gives marketers the opportunity introduce new line of products that meet the demands of customers. The challenge however has to do with the cost of starting the business and market research analysis to identify new customers. On the introduction of new line of products and services, Westinghouse as a multi-purpose company may have greater advantage. It is important however to go about this with a common strategy that has to do with the integration of advanced technology. Looking at the fact that the line of products of Westinghouse has to do with electronics, the introduction of new line of products that integrate modern and advanced technology would score lots of points for the co mpany (Business Ball, 2012). For example it is common knowledge that the ordinary user of a tape recorder would today want a technological advancement that features the use of a USB port that will make