With the deep analysis of the above alternatives, it is advised that the business ought to pick the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would make it possible for the business to not only introduce brand-new and ingenious items in the market it would also lower the high expenses on R&D under alternative 2 and increase the earnings margins. It would enable the business to increase its share prices as well, as investors want to invest more in business with significant R&D spending and increase in the total worth of the business.
Action and implementation Strategy
Method can be executed effectively by developing certain short-term in addition to long term strategies. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Mysore Ghee Stores Expansion Strategy For Clarified Butter Business need to perform various activities to implement its NHW strategy efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to take a look at the core selling brands, which produce the majority of its earnings.
• Examine the existing target audience in addition to the marketplace segment which is not consist of in the business's circle.
• Examine the existing financial information to measure the quantity that needs to be invested in the R&D and acquisitions.
• Analyze the prospective financiers and their nature, i.e. do they desire long term benefits (capital gain), or the want early revenues (dividend). It would let the company to understand that how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Acquire those companies in which the business has prospective experience to deal with. Obtain most beneficial organizations with a strong dedication to health, to construct the consumer's perceptions in the best direction.
• Focus more on acquisitions than R&D to construct the base in the consumer's mind about Mysore Ghee Stores Expansion Strategy For Clarified Butter Business values and vision and to avoid potential risk of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health in addition to taste aspect, as the base for the Mysore Ghee Stores Expansion Strategy For Clarified Butter Business as a company producing healthy items has been built under midterm plan and now the company could move towards taste element also to grasp the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to construct brand-new products.
