With the deep analysis of the above options, it is recommended that the business needs to choose the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would allow the business to not only present brand-new and ingenious items in the market it would likewise minimize the high expenditures on R&D under alternative 2 and increase the earnings margins. It would enable the business to increase its share costs too, as investors are willing to invest more in companies with considerable R&D costs and boost in the total worth of the company.
Action and implementation Strategy
Method can be implemented efficiently by developing certain short term along with long term strategies. These strategies could be as follows;
Short Term Plan (0-1 year)
• Under the short term strategy Quiktrip should perform numerous activities to implement its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to take a look at the core selling brand names, which create most of its earnings.
• Evaluate the existing target market in addition to the marketplace sector which is not include in the company's circle.
• Analyze the current financial information to determine the quantity that must be invested in the R&D and acquisitions.
• Analyze the potential financiers and their nature, i.e. do they desire long term advantages (capital gain), or the want early revenues (dividend). It would let the business to know that how much quantity must be spent on R&D.
Mid Term Plan (1-5 years)
• Get those companies in which the company has prospective experience to handle. Obtain most beneficial organizations with a strong commitment to health, to construct the client's perceptions in the best instructions.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Quiktrip values and vision and to prevent prospective danger of sunk cost.
Long Term Plan (1-10 years)
• Acquire organizations with health along with taste factor, as the base for the Quiktrip as a company producing healthy products has been constructed under midterm plan and now the company might move towards taste aspect also to understand the customers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the considerable time to build brand-new items.
