Recommendations of General Insurance Corporation Of India Case Analysis

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Recommendations of General Insurance Corporation Of India Case Study Analysis

On the basis of above internal and external analysis of the company in addition to the evaluation of various alternatives, the company is recommended to consider alternative 3. As alternative 3 would allow the company to expand in global markets without any reduction in its local profits and any degeneration of its market position. By thinking about Alternative 3, the company might preserve its store experience and brand name individuality. It might also think about alternative 2 that could enable the business to access the markets without any potential investment. Although, the company might pursue alternative 1 which would enable the business to focus on prospective global markets instead of the local markets but as the company is highly dependent on the local markets with 90% of its shops in the US, there fore pursuing alternative 1 would result in the considerable decline in business's income. The company is suggested to consider alternative 3.

Aletrnative-1: Expanding International Brick and Recommendations of General Insurance Corporation Of India Case Solution Stores

The company has a long term market position in US which can not be produced soon in the new markets. The alternative would assist the business to expand in global markets along with the removal of concerns raised in its regional markets related to its diversity.

Pros:

• Expedition of brand-new worldwide markets.
• Increase in income from worldwide markets.
• Removal of concerns related to diversity.
• Earnings diversity.
• Step towards being a strong worldwide brand name.

Cons:

• Loss of extensive incomes from the regional markets.
• Increase in competitors.
• Distinctions in cultures could resulted in a failure of the brand specifically in Asian countries.
• Low revenues at initial levels.
• Boost in marketing expenditures to acquire market share.

Alternative-2: Introduction of Click and Recommendations of General Insurance Corporation Of India Case Help Stores

With the increased trends towards online shopping, the online stores like Amazon, Alibaba and so on could posture a severe hazard to the market share of company. In this situation the company might think about presenting Click and Recommendations of General Insurance Corporation Of India Case Solution shops. These shops with a low requirement of funds to settle would enable the company to reach worldwide markets, without ending its domestic shops.

Pros:

• Low investment
• Decreasing competition hazard
• Access to the world markets
• Increasing the size of consumer base
• Easy to handle
• Large Incomes
• Low Operating Expense
• Easy new market entrance

Cons:

• Risk to the marketplace position
• Elimination of brand name Originality
• Elimination of the excellent shop experience.
• Risk of decrease in elite sales.

Alternative-3: Expansion towards International Markets Without closing Domestic Stores

Another choice that the company might consider, is to broaden towards the global markets without closing its domestic stores that adds to the huge part of revenues of the company. The pros and cons related to Alternative 3 are given listed below;

Pros:

• Decreasing competition hazard
• Access to the world markets
• Enlarging customer base
• Large Revenues
• Exploration of new international markets.
• Boost in profits from worldwide markets.
• Revenue diversification.
• Step towards being a strong worldwide brand name.

Cons:

• Continuation of problems related to diversity.
• Differences in cultures might resulted in a failure of the brand particularly in Asian nations.
• Low earnings at preliminary levels.
• Increase in marketing expenditures to get market share.



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