With the deep analysis of the above options, it is suggested that the business should pick the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would allow the business to not just introduce new and ingenious products in the market it would also lower the high expenditures on R&D under alternative 2 and increase the revenue margins. It would allow the business to increase its share prices as well, as investors want to invest more in companies with substantial R&D spending and boost in the total worth of the business.
Action and implementation Strategy
Strategy can be implemented effectively by developing particular short-term in addition to long term strategies. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Exploit The Product Life Cycle ought to carry out different activities to execute its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to take a look at the core selling brand names, which produce most of its income.
• Examine the present target audience as well as the marketplace sector which is not consist of in the business's circle.
• Examine the existing financial data to measure the quantity that ought to be spent on the R&D and acquisitions.
• Evaluate the potential investors and their nature, i.e. do they desire long term advantages (capital gain), or the want early earnings (dividend). It would let the company to understand that just how much quantity should be invested in R&D.
Mid Term Plan (1-5 years)
• Get those organizations in which the company has possible experience to handle. Get most favorable companies with a strong dedication to health, to construct the consumer's understandings in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Exploit The Product Life Cycle worths and vision and to prevent prospective danger of sunk expense.
Long Term Plan (1-10 years)
• Obtain organizations with health along with taste element, as the base for the Exploit The Product Life Cycle as a company producing healthy items has been built under midterm plan and now the business might move towards taste factor as well 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 build new products.
