15 Jun Response Comments?- After posting your initial response to the question, begin making comments to your peers. A minimum of two comments made on two different day
Response Comments – After posting your initial response to the question, begin making comments to your peers. A minimum of two comments made on two different days must be posted in the discussion for a passing grade. The comments must be early enough before the end of the week to allow for replies.
Unit 2: Discussion 2 Peer Response
Response Comments - After posting your initial response to the question, begin making comments to your peers. A minimum of two comments made on two different days must be posted in the discussion for a passing grade. The comments must be early enough before the end of the week to allow for replies.
Iprita Bhattarai (Student 1)
Continuing my conversation with Uber and Lyft, I’ll be discussing the strategic changes needed and how they can handle each other’s strategic changes.
We know, that Uber and Lyft are in direct competition with one another here in the U.S. The significant number of taxis in various towns, and the use of public transportation, can be a third competitor, and a reason to limit Uber and Lyft from increasing their prices in those areas. However, specifically, talking about these two companies, when customers can easily switch between two products, their threat of substitutes increases making them each other’s biggest competition.
So how are these companies different from one another and how are they planning on surviving? According to research and personal experience, Lyft is the cheaper option and one that I tend to choose often. Based on my conversation with Lyft drivers, who often have driven Uber at one point, believe Lyft to be a much better company than Uber. Although both companies seem to eventually copy the features the other has, whether it is ride share or food services, I tend to generally see negative news about Uber often. “Uber has faced criticism for the way they pay their drivers, on the other hand, Lyft has managed to avoid some of the controversies that have plagued Uber” (Davis, 2021).
Because Uber was founded first, they tend to have more market brand recognition in the market versus Lyft. Since cost is a major difference, it appears customers are using a third-party app to compare the rates between the two companies. While Uber values expanding, providing choice, and being upfront, Lyft's values are brand authenticity and culture and values. While Lyft seems to focus on innovation, Uber simply spent money to hire more drivers, and this strategy seems to work for them. However due to the following reasons, amongst drivers and customers Lyft seems to be leading:
· Uber logs the drivers out of driver mode, which seems to be an annoying feature for the drivers
· Topping is easier in Lyft versus Uber, so drivers tend to like that feature.
· Lyft drivers cannot request the rides versus Uber can, so that is another reason Lyft seems to succeed.
“Uber announcing entire lab dedicated specifically to self-driving cars while GM just gave lift 500 million for self-driving car research” (Helling, 2022), so at this point, both companies seem to focus on technology and innovation, so we’ll have to see what happens in the next few years to come.
Davis, L. (2021, September 20). Lyft vs. uber: What's the difference? Investopedia. Retrieved June 15, 2022, from https://www.investopedia.com/articles/personal-finance/010715/key-differences-between-uber-and-lyft.asp
Helling, B. (2022, March 29). Uber vs lyft: Comparing the rideshare titans: Gig worker. Gigworker.com. Retrieved June 15, 2022, from https://gigworker.com/lyft-vs-uber/
John Cone ( Student 2)
Cars are a highly competitive market segment where companies have to develop many important strategies to stay ahead of their rivals. Tesla is a company that has distinguished itself significantly in the vehicle market by focusing on offering a variety of electric vehicles (EVs), as opposed to competitors that primarily offer traditional combustion engine options. Tesla maintains a market share of 14% for EVs, with the closest competitor being VW at 11%. In the EV market, Ford is completely absent (Patton, 2022). It is also worth mentioning that Ford is in the list of the five least profitable car companies in 2020 despite having over a century in the market (Bernau Jr., 2021). Ford is a hallmark of the industry, but it is known that company leadership has long been lax on staying ahead of rivals. Even in its early days, Ford was the only competitor on the market, so when other automobile manufacturers emerged and started offering vehicles in different colors and styles, Ford was slow to catch up. Henry Ford even famously said the consumers could have "any color so long as it is black," in a meeting with sales representatives in 1909 (Vlaskovits, 2011). Ford could take advantage of the growing EV trend to get into a market most of its competitors have already gotten into. Environmental impact and fuel efficiency is in growing demand among developed countries, but Ford still maintains less than 30 miles per gallon on many of its vehicle models. Compared to companies like Toyota that dominate the market share and offer almost double the fuel efficiency, there are clear technological trends Ford misses out on or chooses not to take advantage of that are in clear demand.
Bibliography Bernau Jr., A. (2021). Which Major Car Companies Were the Most and Least Profitable in 2020. Retrieved from Alan's Factory Outlet: https://alansfactoryoutlet.com/which-major-car-companies-were-the-most-and-least-profitable-in-2020/ Patton, M. (2022, March 30). Competition Heats Up For Tesla In EV Market. Retrieved from Forbes: https://www.forbes.com/sites/mikepatton/2022/03/30/competition-heats-up-for-tesla-in-ev-market/?sh=51d433043423 Vlaskovits, P. (2011, August 29). Henry Ford, Innovation, and That “Faster Horse” Quote. Retrieved from Harvard Business Review: https://hbr.org/2011/08/henry-ford-never-said-the-fast
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