With the deep analysis of the above alternatives, it is suggested that the company must choose 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 just introduce brand-new and innovative products in the market it would likewise decrease the high expenses on R&D under alternative 2 and increase the profit margins. It would enable the business to increase its share prices too, as investors want to invest more in business with significant R&D spending and increase in the overall worth of the business.
Action and implementation Strategy
Strategy can be executed 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 Fishbay In Fishing On The Net must perform different activities to execute its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brands, which produce most of its earnings.
• Analyze the existing target audience along with the marketplace section which is not include in the company's circle.
• Examine the current financial data to determine the quantity that ought to be invested in the R&D and acquisitions.
• Examine the prospective investors and their nature, i.e. do they want long term benefits (capital gain), or the want early earnings (dividend). It would let the company to understand that how much quantity ought to be spent on R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the business has possible experience to handle. Obtain most beneficial organizations with a strong commitment to health, to develop the client's perceptions in the best direction.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about Fishbay In Fishing On The Net values and vision and to avoid potential threat of sunk cost.
Long Term Plan (1-10 years)
• Obtain organizations with health as well as taste factor, as the base for the Fishbay In Fishing On The Net as a company producing healthy items has been built under midterm strategy and now the company might move towards taste aspect also to understand the customers, 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 new items.
