Terracog Global Positioning Systems Analysis Essay Example
Sometimes lack of competition gives a false sensation of security. I think this may be the problem that TerraCog faced. TerraCog had been the very top GPS manufacturer ahead of any other competitor and this made them very confident of their position in this rapidly growing field of technology though they had plans and projects of their own.
When a new competitor appeared they couldn't realize the threat imposed on their market leadership and the new situation that needed to deal with, hence reviewing their current plans. Even when their Marketing managers told them that they are starting to lose market shares to their competitors, they just deluded themselves that it was just the holiday season and that their competitors wouldn't last. They even couldn't see that their competitors wouldn't easily abandon the lead is achieved.
After
...lingering for a precious time in denial they were awakened very late by the fact that they are losing unless they can cope with the new technology introduced and even that they are having another competitor (Garmin) who was able to adopt this technology in more feasible way than they do. I think that TerraCog shouldn't have either underestimated their competitor nor wasted a second in making their decision about adopting the new features in their devices. They could have made a higher edge product with greater features outperforming their competitor's at a higher yet justified price.
Right now they have put themselves in a very critical situation. They should either manage to make their new device at competitive price and features or they can just accept their defeat in round 1 and may be they can introduce something outstanding afte
a period of time, however, they should put in mind that their recently unleashed competitors wouldn't be standing in the same place. TerraCog has a huge mission to accomplish as they couldn't realize what they had to catch from the start.
My main takeaway is that being the ace cannot be maintained forever unless you exert a really hard effort to maintain your place. It is a rapidly growing world and lingering where you mean that someone will beat you. Never underestimate the initiative of your competitor or be just satisfied with what you have accomplished. When have you ever felt that you need to make a really strong decision in face of a threat to lose in order to protect your success and stay ahead of the game?
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