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Transcription of this question: 3.German Car Keys Limited (GCK)For decades, German Car Keys Limited (GCK) has made car keys for various car manufacturers.It is 100% owned by Schmidt family members. New apps on mobile smartphones may soonreplace traditional car keys. Car owners will have in their phone an “e-key”, which will unlock doorsand start the car. Car hire companies like e-keys because they are cheaper than physical keysand can be easily downloaded.This innovation in car keys could put GCK out of business. Shareholders are shocked. For years,they believed that GCK had a secure place in the market. GCKs market share and profits werehigh and debt was low. However, rather than make investments in new product lines, GCK madeonly minor modifications to the physical car keys and paid high dividends to satisfy shareholderexpectations. As a result, the company does not have a portfolio of products. It relies on onesingle product.GCK conducted market research and identified two other car components it could manufacture.GCK has many skilled workers, and the factories will have to be upgraded at significant cost. GCKis now looking for ways to finance the renovation of the factories. If e-keys become popular (aspredicted) and action by GCK is not taken quickly, this old car key company may find itself out ofbusiness.(a)(b)(c)(d)State two secondary methods (sources) of market research for GCK.Using a fully labelled Boston Consulting Group (BCG) matrix, explain the position ofGCKs current product (physical car keys).With reference to GCK, explain the relationship between investment and profit.Discuss two appropriate sources of finance for the renovation of GCKs factories.