With the deep analysis of the above options, it is advised that the company needs to choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would allow the business to not just introduce new and ingenious products in the market it would likewise reduce the high expenses on R&D under alternative 2 and increase the revenue margins. It would make it possible for the business to increase its share costs also, as financiers want to invest more in companies with significant R&D spending and boost in the total worth of the company.
Action and implementation Strategy
Technique can be implemented successfully by developing certain short-term along with long term plans. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Reframing Health Care Through Social Media ought to carry out various activities to implement its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand name portfolio done, to take a look at the core selling brand names, which create most of its earnings.
• Analyze the existing target audience as well as the market section which is not consist of in the company's circle.
• Examine the present financial information to measure the amount that needs to be invested in the R&D and acquisitions.
• Evaluate the potential investors and their nature, i.e. do they want long term benefits (capital gain), or the want early profits (dividend). It would let the business to understand that how much amount must be invested in R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the business has prospective experience to handle. Obtain most favorable organizations with a strong dedication to health, to develop the consumer's perceptions in the right direction.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about Reframing Health Care Through Social Media values and vision and to prevent prospective risk of sunk expense.
Long Term Plan (1-10 years)
• Get organizations with health along with taste element, as the base for the Reframing Health Care Through Social Media as a company producing healthy products has actually been developed under midterm plan and now the company could move towards taste aspect too to understand the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to construct brand-new products.
