2017-12-28 10:17

 increased share of its existing markets with its existing product range. This will in turn lead to higher bargaining power of the supplier as Ferrari will have a larger market share. Johnson; Scholes&Whitington (2008:258) also explain that “in terms of the five forces increasing market penetration is likely to exacerbate industry rivalry as other competitors in the market defend their share”. For example Jaguar cannot let Ferrari continue to have growth in market share while it sits behind. Ferrari has a % in speed car market while Jaguar has a % in market share in luxury car market. Product development: is where organisations deliver modified or new products to existing markets. Here product development implies greater degrees of innovation. Johnson, Scholes&Whitington (2008:261).With the car manufacturing industry there is a continuous need to develop products so as to make sure customers' needs are effectively met. For example Ferrari has even committed itself to sponsoring the formula one racing competition yearly to showcase new technology and improvement in diverse innovation.
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