Sample Essay

A highly competitive industry requires a significant number of active players in the market which operate at about a comparable level of size and have little differentiation. The greater the level of this competition, the lesser the profit margins will be.

To remain ahead in competition, auto-makers were tempted to offer value added services to the customers incurring more costs. Easy finance options and long term warranties were offered to lure the customers and to sustain the steady level of high frequency production such as the one Toyota employed along with Just-in-Time inventory management system. However these measures cut into the profit margins for many other manufacturers. Thus the US automobile industry in the face of global competition from foreign firms was offering better deals to cater to diverse needs of customers. This also spread to some extent to the global automobile industry.

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