With the deep analysis of the above alternatives, it is suggested that the company should select the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would enable the business to not just introduce new and ingenious items in the market it would also lower the high expenses on R&D under alternative 2 and increase the revenue margins. It would make it possible for the company to increase its share rates also, as financiers want to invest more in companies with considerable R&D costs and boost in the overall worth of the company.
Action and implementation Strategy
Strategy can be implemented successfully by establishing certain short-term along with long term plans. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Does Tripsense Make Sense must carry out various activities to execute its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand portfolio done, to analyze the core selling brands, which create most of its profits.
• Analyze the current target market in addition to the marketplace section which is not include in the business's circle.
• Analyze the present financial data to measure the quantity that needs to be spent on the R&D and acquisitions.
• Examine the prospective financiers and their nature, i.e. do they want long term advantages (capital gain), or the want early revenues (dividend). It would let the company to understand that just how much amount needs to be invested in R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the company has possible experience to deal with. Acquire most beneficial companies with a strong commitment to health, to construct the customer's understandings in the ideal direction.
• Focus more on acquisitions than R&D to develop the base in the consumer's mind about Does Tripsense Make Sense 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 aspect, as the base for the Does Tripsense Make Sense as a business producing healthy items has been built under midterm plan and now the business might move towards taste factor also to understand 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 construct new items.
