Strategic Options Essay Example | Topics and Well Written Essays - 1500 words

Strategic Options - Essay Example Indeed, in marketing theory, goals set are always the higher ambitions whiles the objectives are the specific activities to take to realize the goals. So in the case of Eurofreeze, it has clearly spelt out a goal of increasing its market share and profit margins but the surest way that the company seeks to achieve this is by giving much attention to products that the company considers to be of commercial value. The above summary could be briefed in SWOT analysis for Eurofreeze. As part of the strengths of the company, it would be identified that the company presently have a very rooted knowledge in freezer technology, which is a major requirement for survival in the industry. Again, the company has a buying function with which it purchases vegetables and fruits directly. Even more, the company has successfully developed a well known branded food product. Regardless of the strengths, a number of weaknesses mitigate against the company, including the fact that its market share is prese ntly far lower than its key competitor (Adams, 2011). Again, Eurofreeze has not been able to provide the one market-leading frozen brand that its consumers wanted. In the midst of the weaknesses, there is an opportunity in the recovering global economic recession, which gives opportunities for the company to undertake foreign direct investments in markets where its major competitor does not have commanding market share. Finally, the company is faced with a number of threats including the fact that the market leader, which is Refrigor offers is a low-cost leader. Again, refrigerator space in most supermarkets in markets in the United Kingdom and other places are giving space only to their own brand of products. Lastly, the marketing strategies and plans used by Eurofreeze is relatively the same as that of competitors (Haga and Marold, 2004). Development of Scoring Criteria Based on the SWOT Analysis performed earlier, a number of criteria can be developed for scoring each option avai lable to the company so that the best option can eventually be selected. These criteria are grouped under three major themes namely suitability, acceptability and feasibility. Scooping through the SWOT analysis, some of the major criteria that can be used include the following: The grouping of the criteria according to the three themes are thus given as follows: Suitability Criteria 1: Growth and Investment: This criterion is selected as a long term strategic plan for the company towards taking advantage of its opportunities and using them according to its advantage. Without growth and investment, the company cannot utilize its opportunities of a generally improving global economy that makes foreign direct investment a lucrative venture. Criteria 2: Brand equity: Brand equity will be established over a long term basis. It is therefore relevant in pushing up the company for its long term ambition of becoming a market leader. With a brand equity, publicity on all products and services of the company will be reduced because customers would have a lot to know about the company in advance. Feasibility Criteria 3: Value adding: This criterion has been selected to overcome the weakness of the company identified as having a very low market share. With value added service and product, it is hoped that