With the deep analysis of the above options, it is suggested that the company needs to select the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would enable the business to not just introduce new and innovative items in the market it would also decrease the high expenses on R&D under alternative 2 and increase the revenue margins. It would enable the business to increase its share costs as well, as investors are willing to invest more in companies with substantial R&D costs and boost in the overall 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 strategy Destin Brass Products Co must carry out different activities to execute its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brands, which create the majority of its earnings.
• Evaluate the current target audience along with the market segment which is not consist of in the business's circle.
• Evaluate the current financial data to determine the amount that should be spent on the R&D and acquisitions.
• Analyze the prospective investors and their nature, i.e. do they want long term advantages (capital gain), or the desire early profits (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)
• Get those organizations in which the company has potential experience to handle. Acquire most favorable organizations with a strong commitment to health, to construct the client's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Destin Brass Products Co worths and vision and to prevent possible risk of sunk cost.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste element, as the base for the Destin Brass Products Co as a company producing healthy products has been developed under midterm strategy and now the business could move towards taste factor also to comprehend the customers, 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 products.
