With the deep analysis of the above alternatives, it is recommended that the company must choose the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would enable the business to not only introduce brand-new and innovative items in the market it would likewise reduce the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the business to increase its share prices too, as financiers want to invest more in companies with significant R&D costs and increase in the overall worth of the company.
Action and implementation Strategy
Technique can be executed successfully by developing certain short term as well as long term plans. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Daimler Reinventing Mobility should carry out different activities to implement its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which create the majority of its earnings.
• Evaluate the present target audience as well as the market sector which is not consist of in the business's circle.
• Analyze the present financial information to determine the quantity that should be spent on the R&D and acquisitions.
• Evaluate the potential investors and their nature, i.e. do they want long term advantages (capital gain), or the desire early earnings (dividend). It would let the company to understand that just how much quantity needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the company has prospective experience to deal with. Get most beneficial companies with a strong dedication to health, to develop the customer's perceptions in the best instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Daimler Reinventing Mobility values and vision and to prevent prospective threat of sunk cost.
Long Term Plan (1-10 years)
• Get companies with health along with taste element, as the base for the Daimler Reinventing Mobility as a company producing healthy items has been constructed under midterm strategy and now the company could move towards taste element as well to grasp 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 build brand-new items.
