“Deliver value to our customers by providing reliable and high quality products, ensuring customer satisfaction.”
Our company has three objectives that align with our mission statement. Firstly, we want to increase our cumulative market share by three percent on an annual basis. The second objective is to increase our profitability on a yearly basis by one and a half percent. Lastly, we aim to lead the performance and low-end segments by enhancing our degree of customer satisfaction.
Company Strategy The Innovators plans to maintain presence in all segments of the market through the use of a broad cost leader strategy. Using this strategy we will gain a competitive advantage by upholding R&D, production and material costs to a minimum. This will enable the company to be competitive on their pricing strategies for all segments. In addition, the company will increase automation levels, based on a cost benefit analysis, to an optimal point where automation and labour maximize productivity at low costs. Furthermore, The Innovators will spend appropriate amounts on sales and promotional budgets in order to meet customer product expectations thus ensuring increased customer satisfaction.
Beginning with the traditional market, we plan on placing the product on the ideal position in the perceptual map with an economical price, hence gaining a competitive advantage.
Also, through the increase of automation, it will enable us to lower labour costs thus increasing our contribution margins and allow us to price strategically aiding us in achieving our objective of increasing annual market share. For the low-end market, we plan on attaining high levels of automation to offset increasing labour costs. This will enable us to charge a…