With the deep analysis of the above alternatives, it is advised that the business ought to pick the alternative 3 in order to maintain a competitive position in the long run. As the alternative 3 would enable the business to not only present brand-new and ingenious items in the market it would also lower the high expenditures on R&D under alternative 2 and increase the earnings margins. It would make it possible for the business to increase its share rates also, as investors are willing to invest more in business with substantial R&D costs and boost in the overall worth of the company.
Action and implementation Strategy
Strategy can be executed effectively by developing particular short term along with long term plans. These plans could be as follows;
Short Term Plan (0-1 year)
• Under the short term plan Pilgrim Bank B Customer Retention should carry out various activities to implement 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 brand names, which create most of its earnings.
• Analyze the existing target audience along with the marketplace section which is not consist of in the business's circle.
• Examine the present financial data to measure the quantity that should be invested in the R&D and acquisitions.
• Analyze the possible investors and their nature, i.e. do they desire long term benefits (capital gain), or the want early earnings (dividend). It would let the business to understand that just how much amount must be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those organizations in which the company has potential experience to deal with. Get most beneficial organizations with a strong dedication to health, to construct the client's understandings in the best instructions.
• Focus more on acquisitions than R&D to develop the base in the consumer's mind about Pilgrim Bank B Customer Retention values and vision and to avoid possible threat of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health as well as taste aspect, as the base for the Pilgrim Bank B Customer Retention as a company producing healthy products has been constructed under midterm strategy and now the company could 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 substantial time to develop brand-new items.
