What are the reasons for the bankruptcy of Brilliance BMW?
1 Answers
The reasons for the bankruptcy of Brilliance BMW are as follows: 1. Improper marketing strategies: Engaging in price wars that lowered its brand value, and failing to implement timely and effective rescue measures, leading to a decline in consumer confidence. Therefore, enterprises must follow market rules, base their actions on reality, and plan for the long term. 2. Failure to utilize advantageous resources properly: Not making good use of available resources, over-relying on BMW, and failing to absorb and integrate technology, instead turning itself into a manufacturing plant for BMW. This resulted in a lack of competitive strength against other brands, ultimately leading to unavoidable bankruptcy and restructuring.