With the deep analysis of the above options, it is advised that the business should select the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would allow the company to not only present new and innovative products in the market it would also decrease the high expenses on R&D under alternative 2 and increase the profit margins. It would allow the company to increase its share costs too, as financiers are willing to invest more in companies with significant R&D costs and increase in the total worth of the company.
Action and implementation Strategy
Strategy can be implemented 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 Booster Juice Bringing Canadian Smoothies To The Indian Market must perform various activities to execute 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 create most of its profits.
• Analyze the existing target audience as well as the market section which is not include in the company's circle.
• Analyze the present financial data to determine the quantity that needs to be spent on the R&D and acquisitions.
• Evaluate the potential financiers and their nature, i.e. do they want long term advantages (capital gain), or the want early earnings (dividend). It would let the company to know that how much amount needs to be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those organizations in which the company has potential experience to deal with. Obtain most beneficial organizations with a strong commitment to health, to build the client's perceptions in the right direction.
• Focus more on acquisitions than R&D to construct the base in the customer's mind about Booster Juice Bringing Canadian Smoothies To The Indian Market worths and vision and to prevent prospective risk of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste factor, as the base for the Booster Juice Bringing Canadian Smoothies To The Indian Market as a company producing healthy items has been constructed under midterm plan and now the company could move towards taste aspect 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 significant time to develop new products.
