With the deep analysis of the above options, it is suggested that the company needs to 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 company to not just present brand-new and innovative items in the market it would also decrease the high expenditures on R&D under alternative 2 and increase the revenue margins. It would make it possible for the company to increase its share rates too, as investors want to invest more in business with considerable R&D spending and increase in the overall worth of the business.
Action and implementation Strategy
Method can be executed effectively by developing specific short-term as well as long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short-term strategy Marion Boats Inc must perform various activities to execute its NHW method effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to take a look at the core selling brands, which produce the majority of its income.
• Examine the current target audience as well as the marketplace segment which is not consist of in the company's circle.
• Evaluate the current financial information to measure the amount that must be invested in the R&D and acquisitions.
• Evaluate the prospective investors and their nature, i.e. do they desire long term advantages (capital gain), or the desire early revenues (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)
• Acquire those companies in which the company has potential experience to handle. Get most favorable organizations with a strong dedication to health, to develop the client's perceptions in the right instructions.
• Focus more on acquisitions than R&D to build the base in the customer's mind about Marion Boats Inc values and vision and to prevent possible threat of sunk expense.
Long Term Plan (1-10 years)
• Get organizations with health in addition to taste factor, as the base for the Marion Boats Inc as a company producing healthy products has actually been built under midterm strategy and now the company might move towards taste aspect also to comprehend the consumers, which focus more on taste instead of health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to develop brand-new products.
