Case: Toyota Scion

As a CEO of GM, my response would be multifold. The first response I going to be meeting the technology demands of the Generation Y, who are in to technologies and want to have access to more technical advancements in their vehicles. I would make a thorough analysis of Toyota Scion and see what they have which gives them a competing edge over the product we have for the same demographic group. I would then try to reach out to our own, existing customers and the customers of Toyota Scion to know the level of their satisfaction and also about their suggestions for improvements that can further satisfy them.

The second step would be to incorporate the above information to a product that would be better than Toyota Scion. This does not necessarily need to be a new product. It could simply be an extension of an existing product with technologies added to it. But, if that does not work, I would definitely want my team to build a new product from scratch because we have to win over the competition that is existing in the product niche. I would make sure that all the required resources are allocated to the new project to make it a success.