With the deep analysis of the above options, it is advised that the business needs to pick the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would make it possible for the company to not only introduce new and ingenious products in the market it would also minimize the high expenditures on R&D under alternative 2 and increase the earnings margins. It would enable the company to increase its share prices too, as investors are willing to invest more in companies with significant R&D costs and increase in the overall worth of the company.
Action and implementation Strategy
Strategy can be carried out successfully by developing specific short-term as well as long term plans. These plans might be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Fresh Choice ought to carry out various activities to execute its NHW technique effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brands, which create the majority of its profits.
• Examine the present target market as well as the market segment which is not include in the business's circle.
• Evaluate the present financial data to determine the amount that ought to be spent on the R&D and acquisitions.
• Analyze the potential financiers and their nature, i.e. do they desire long term advantages (capital gain), or the desire early earnings (dividend). It would let the company to know that just how much quantity ought to be invested in R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has potential experience to deal with. Acquire most favorable organizations with a strong commitment to health, to build the customer's perceptions in the right instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Fresh Choice worths and vision and to avoid possible risk of sunk cost.
Long Term Plan (1-10 years)
• Obtain companies with health in addition to taste aspect, as the base for the Fresh Choice as a company producing healthy items has been built under midterm strategy and now the company might move towards taste factor too to comprehend the customers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the substantial time to develop brand-new products.
