Mtn Cameroon The Competitive Advantage Of Being African Case Study Solution & Analysis
Introduction
Mtn Cameroon The Competitive Advantage Of Being African Case Study Help is presently one of the greatest food chains worldwide. It was established by Henri Mtn Cameroon The Competitive Advantage Of Being African in 1866, a German Pharmacist who first released "Farine Lactee"; a mix of flour and milk to decrease and feed infants death rate. At the very same time, the Page brothers from Switzerland likewise found The Anglo-Swiss Condensed Milk Business. The 2 ended up being rivals in the beginning but later merged in 1905, leading to the birth of Mtn Cameroon The Competitive Advantage Of Being African.
Mtn Cameroon The Competitive Advantage Of Being African is now a multinational business. Unlike other international business, it has senior executives from different countries and tries to make decisions considering the entire world. Mtn Cameroon The Competitive Advantage Of Being African Case Study Solution currently has more than 500 factories around the world and a network spread throughout 86 countries.
Purpose
The function of Mtn Cameroon The Competitive Advantage Of Being African Corporation is to boost the lifestyle of people by playing its part and offering healthy food. It wants to assist the world in shaping a healthy and much better future for it. It likewise wants to motivate individuals to live a healthy life. While making sure that the company is prospering in the long run, that's how it plays its part for a much better and healthy future
Vision
Nestlé's vision is to provide its clients with food that is healthy, high in quality and safe to consume. It wants to be innovative and at the same time understand the requirements and requirements of its customers. Its vision is to grow quickly and provide items that would please the needs of each age. Mtn Cameroon The Competitive Advantage Of Being African visualizes to establish a trained workforce which would help the company to grow.
Objective.
Nestlé's objective is that as presently, it is the leading company in the food market, it believes in 'Great Food, Excellent Life". Its mission is to offer its customers with a variety of options that are healthy and finest in taste. It is focused on supplying the best food to its consumers throughout the day and night.
Products.
Mtn Cameroon The Competitive Advantage Of Being African Case Study Help has a large range of products that it uses to its consumers. Its items include food for babies, cereals, dairy products, treats, chocolates, food for animal and mineral water. It has around 4 hundred and fifty (450) factories around the world and around 328,000 staff members. In 2011, Mtn Cameroon The Competitive Advantage Of Being African was listed as the most rewarding company.
Objectives and objectives.
• Bearing in mind the vision and mission of the corporation, the business has laid down its objectives and goals. These goals and objectives are noted below.
• One objective of the business is to reach zero landfill status. It is working toward zero waste, where no waste of the factory is landfilled. It encourages its employees to take the most out of the by-products. (Mtn Cameroon The Competitive Advantage Of Being African, aboutus, 2017).
• Another objective of Mtn Cameroon The Competitive Advantage Of Being African is to lose minimum food during production. Most often, the food produced is lost even before it reaches the clients.
• Another thing that Mtn Cameroon The Competitive Advantage Of Being African is working on is to enhance its packaging in such a way that it would help it to lower the above-mentioned complications and would also guarantee the shipment of high quality of its products to its customers.
• Meet international standards of the environment.
• Build a relationship based upon trust with its consumers, organisation partners, staff members, and government.
Vital Concerns.
Just Recently, Mtn Cameroon The Competitive Advantage Of Being African Company is focusing more towards the technique of NHW and investing more of its earnings on the R&D innovation. The nation is investing more on acquisitions and mergers to support its NHW method. However, the target of the business is not attained as the sales were anticipated to grow higher at the rate of 10% each year and the operating margins to increase by 20%, given up Display H. There is a need to focus more on the sales then the development technology. Otherwise, it might result in the declined income rate. (Henderson, 2012).
Situational Analysis.
Analysis of Present Strategy, Vision and Goals.
The present Mtn Cameroon The Competitive Advantage Of Being African technique is based on the idea of Nutritious, Health and Health (NHW). This method deals with the concept to bringing change in the customer choices about food and making the food things much healthier worrying about the health problems.
The vision of this technique is based upon the secret approach i.e. 60/40+ which simply implies that the products will have a score of 60% on the basis of taste and 40% is based on its nutritional value. The items will be made with extra nutritional value in contrast to all other items in market gaining it a plus on its nutritional content.
This technique was adopted to bring more yummy plus healthy foods and drinks in market than ever. In competition with other business, with an intent of retaining its trust over consumers as Mtn Cameroon The Competitive Advantage Of Being African Company has acquired more trusted by clients.
Microenvironment Analysis (PESTEL Analysis).
The analysis used to measure the position of company in the market is done by utilizing PESTLE analysis, given in Exhibit A. Mtn Cameroon The Competitive Advantage Of Being African works under the guidelines and guidelines directed by government and food authority. The company is more focused on its services and products to make sure about the item quality and security.
Political.
Mtn Cameroon The Competitive Advantage Of Being African is significantly supported by Government to fulfill all the requirements of requirements like acts of health and security. In efforts to produce excellent food, Mtn Cameroon The Competitive Advantage Of Being African Case Study Help is changing the requirements of food and drink manufacturing.
Economic.
Initiation of business where the capital income of each specific matters for the increased net sale as this varies country-to-country. The economy of the Mtn Cameroon The Competitive Advantage Of Being African Company in U.S. is growing year by year with variable products launch especially focusing on the dietary food for infants.
Social.
The social environment keeps on changing with regard to time like the attitude of the customer along with their way of lives. Any product and services of any company can not achieve success till the business is not worried about the living system of the consumer. Mtn Cameroon The Competitive Advantage Of Being African is taking measures to fulfill its goals as the world is in search of healthy and tasty food.
Technological.
In the advancement of service, strategic measures are somewhat compulsory. Mtn Cameroon The Competitive Advantage Of Being African is among the top well-known multinational company and by time it invests in various departments to take its items to brand-new level. Mtn Cameroon The Competitive Advantage Of Being African is investing more on its R&D to make its products much healthier and nutritious providing consumers with health benefits.
Legal.
There is no such effect of legal aspects of Mtn Cameroon The Competitive Advantage Of Being African as it is more concerned over its guidelines and laws.
Environmental
Mtn Cameroon The Competitive Advantage Of Being African, in terms of environmental impact is committed to operate in environmentally friendly environment with preservation of the natural deposits and energy. If the resources utilized are recyclable or not, as due to the production of bigger number of items there may be a threat.
Competitive Forces Analysis (Porter's Five Forces Model).
Mtn Cameroon The Competitive Advantage Of Being African Case Study Analysis has actually acquired a number of companies that assisted it in diversity and growth of its item's profile. This is the extensive description of the Porter's design of five forces of Mtn Cameroon The Competitive Advantage Of Being African Company, given up Display B.
Competitiveness.
There is extreme competition in the industry of food and drinks. Mtn Cameroon The Competitive Advantage Of Being African is among the top company in this competitive market with a number of strong rivals like Unilever, Kraft foods and Group DANONE. Mtn Cameroon The Competitive Advantage Of Being African is running well in this race for last 150 years. Each company has a definite share of market. This competition is not simply limited to the rate of the item however also for variation, quality and development. Every industry is striving hard for the upkeep of their market share. Nevertheless, the competitors of other business with Mtn Cameroon The Competitive Advantage Of Being African Case Study Help is quite high.
Hazard of New Entrants.
A variety of barriers are there for the brand-new entrants to occur in the customer food market. Just a few entrants prosper in this industry as there is a need to understand the customer need which requires time while current rivals are aware and has advanced with the customer loyalty over their items with time. There is low threat of new entrants to Mtn Cameroon The Competitive Advantage Of Being African as it has rather big network of distribution internationally dominating with well-reputed image.
Bargaining Power of Suppliers.
In the food and beverage industry, Mtn Cameroon The Competitive Advantage Of Being African Case Study Help owes the biggest share of market needing higher number of supply chains. In action, Mtn Cameroon The Competitive Advantage Of Being African has also been worried for its suppliers as it thinks in long-lasting relations.
Bargaining Power of Buyers.
Hence, Mtn Cameroon The Competitive Advantage Of Being African makes sure to keep its clients pleased. This has led Mtn Cameroon The Competitive Advantage Of Being African to be one of the devoted company in eyes of its purchasers.
Threat of Replacements.
There has been an excellent hazard of replacements as there are alternatives of some of the Nestlé's products such as boiled water and pasteurized milk. There has likewise been a claim that a few of its items are not safe to utilize resulting in the reduced sale. Thus, Mtn Cameroon The Competitive Advantage Of Being African started highlighting the health advantages of its products to cope up with the alternatives.
Competitor Analysis.
Mtn Cameroon The Competitive Advantage Of Being African Case Study Solution covers much of the popular customer brand names like Kit Kat and Nescafe etc. About 29 brands amongst all of its brands, each brand earned a revenue of about $1billion in 2010. Its huge part of sale remains in The United States and Canada constituting about 42% of its all sales. In Europe and U.S. the leading significant brands sold by Mtn Cameroon The Competitive Advantage Of Being African in these states have a fantastic reputable share of market. Mtn Cameroon The Competitive Advantage Of Being African, Unilever and DANONE are 2 big industries of food and beverages as well as its primary rivals. In the year 2010, Mtn Cameroon The Competitive Advantage Of Being African had made its annual profit by 26% boost due to the fact that of its increased food and beverages sale specifically in cooking things, ice-cream, beverages based upon tea, and frozen food. On the other hand, DANONE, due to the increasing rates of shares resulting an increase of 38% in its revenues. Mtn Cameroon The Competitive Advantage Of Being African Case Study Help decreased its sales expense by the adaptation of a new accounting treatment. Unilever has number of employees about 230,000 and functions in more than 160 nations and its London headquarter. It has actually become the second biggest food and beverage market in the West Europe with a market share of about 8.6% with just a distinction of 0.3 points with Mtn Cameroon The Competitive Advantage Of Being African. Unilever shares a market share of about 7.7 with Mtn Cameroon The Competitive Advantage Of Being African ending up being very first and ranking DANONE as third. Mtn Cameroon The Competitive Advantage Of Being African draws in local costumers by its low expense of the item with the local taste of the items maintaining its first place in the global market. Mtn Cameroon The Competitive Advantage Of Being African company has about 280,000 workers and functions in more than 197 nations edging its rivals in lots of areas. Mtn Cameroon The Competitive Advantage Of Being African has actually also lowered its expense of supply by presenting E-marketing in contrast to its competitors.
Note: A brief comparison of Mtn Cameroon The Competitive Advantage Of Being African with its close competitors is given in Exhibit C.
SWOT Analysis.
The internal analysis and external of the company likewise can be done through SWOT Analysis, summed up in the Exhibition F.
Strengths.
• Mtn Cameroon The Competitive Advantage Of Being African has an experience of about 140 years, making it possible for business to better perform, in various scenarios.
• Nestlé's has presence in about 86 countries, making it a worldwide leader in Food and Beverage Market.
• Mtn Cameroon The Competitive Advantage Of Being African has more than 2000 brands, which increase the circle of its target consumers. These brand names consist of infant foods, animal food, confectionary items, beverages and so on. Famous brands of Mtn Cameroon The Competitive Advantage Of Being African consist of; Maggi, Kit-Kat, Nescafe, and so on
• Mtn Cameroon The Competitive Advantage Of Being African Case Study Solution has large quantity of spending on R&D as compare to its rivals, making the business to launch more innovative and nutritious items. This development provides the business a high competitive position in long term.
• After embracing its NHW Technique, the company has done big amount of mergers and acquisitions which increase the sales growth and improve market position of Mtn Cameroon The Competitive Advantage Of Being African.
• Mtn Cameroon The Competitive Advantage Of Being African is a well-known brand name with high consumer's commitment and brand name recall. This brand loyalty of consumers increases the chances of easy market adoption of numerous brand-new brands of Mtn Cameroon The Competitive Advantage Of Being African.
Weak points.
• Acquisitions of those company, like; Kraft frozen Pizza service can offer a negative signal to Mtn Cameroon The Competitive Advantage Of Being African consumers about their compromise over their core proficiency of healthier foods.
• The development I sales as compare to the company's investment in NHW Method are rather different. It will take long to alter the understanding of individuals ab out Mtn Cameroon The Competitive Advantage Of Being African as a company selling healthy and healthy items.
Opportunities.
• Presenting more health associated products makes it possible for the company to capture the marketplace in which consumers are quite conscious about health.
• Developing countries like India and China has largest markets worldwide. Hence broadening the marketplace towards establishing countries can enhance the Mtn Cameroon The Competitive Advantage Of Being African company by increasing sales volume.
• Continue acquisitions and joint ventures increases the market share of the company.
• Increased relationships with schools, hotel chains, dining establishments and so on can also increase the number of Mtn Cameroon The Competitive Advantage Of Being African Case Study Solution consumers. For example, instructors can recommend their students to purchase Mtn Cameroon The Competitive Advantage Of Being African products.
Threats.
• Financial instability in nations, which are the possible markets for Mtn Cameroon The Competitive Advantage Of Being African, can produce a number of issues for Mtn Cameroon The Competitive Advantage Of Being African.
• Shifting of products from normal to much healthier, leads to additional costs and can result in decline business's revenue margins.
• As Mtn Cameroon The Competitive Advantage Of Being African has an intricate supply chain, therefore failure of any of the level of supply chain can lead the company to deal with certain problems.
Division Analysis
Market Segmentation
The market segmentation of Mtn Cameroon The Competitive Advantage Of Being African Case Study Help is based upon 4 elements; age, income, profession and gender. For example, Mtn Cameroon The Competitive Advantage Of Being African produces numerous items associated with children i.e. Cerelac, Nido, etc. and related to adults i.e. confectionary items. Mtn Cameroon The Competitive Advantage Of Being African items are quite cost effective by practically all levels, however its significant targeted clients, in regards to earnings level are middle and upper middle level consumers.
Geographical Segmentation
Geographical segmentation of Mtn Cameroon The Competitive Advantage Of Being African Case Study Solution is composed of its existence in practically 86 nations. Its geographical division is based upon 2 main aspects i.e. average earnings level of the consumer in addition to the climate of the region. Singapore Mtn Cameroon The Competitive Advantage Of Being African Company's segmentation is done on the basis of the weather condition of the region i.e. hot, cold or warm.
Psychographic Division
Psychographic division of Mtn Cameroon The Competitive Advantage Of Being African is based upon the character and lifestyle of the consumer. For example, Mtn Cameroon The Competitive Advantage Of Being African 3 in 1 Coffee target those customers whose life style is rather busy and do not have much time.
Behavioral Division
Mtn Cameroon The Competitive Advantage Of Being African Case Analysis behavioral division is based upon the attitude understanding and awareness of the consumer. For instance its extremely healthy items target those customers who have a health mindful mindset towards their intakes.
VRIO Analysis
The VRIO analysis of Mtn Cameroon The Competitive Advantage Of Being African Business is a broad range analysis offering the company with a possibility to get a practical competitive advantage versus its rivals in the food and beverage industry, summed up in Display I.
Belongings
The resources utilized by the Mtn Cameroon The Competitive Advantage Of Being African business are important for the company or not. Such as the resources like finance, human resources, management of operations and specialists in marketing. This are a few of the crucial valuable aspects of for the identification of competitive advantage.
Unusual
The valuable resources utilized by Mtn Cameroon The Competitive Advantage Of Being African are costly or even unusual. If these resources are frequently found that it would be much easier for the competitors and the new competitors in the industry to effortlessly move in competition.
Imitation
The replica process is costly for the rivals of Mtn Cameroon The Competitive Advantage Of Being African Case Solution Business. It can be done only in 2 different techniques i.e. product duplication which is produced and produced by Mtn Cameroon The Competitive Advantage Of Being African Business and launching of the alternative of the items with switching expense. This increases the risk of disturbance to the recent structure of the market.
Organization
This component of VRIO analysis handle the compatibility of the business to position in the market making productive use of its valuable resources which are challenging to imitate. Regularly, the advancement of management is totally based on the firm's execution method and group. Hence, this polishes the skills of the firm by time based on the choices made by company for the development of its tactical capitals.
Quantitative Analysis
R&D Spending as a percentage of sales are decreasing with increasing actual quantity of spending reveals that the sales are increasing at a higher rate than its R&D spending, and permit the business to more invest in R&D.
Net Revenue Margin is increasing while R&D as a percentage of sales is declining. This sign likewise shows a green light to the R&D spending, acquisitions and mergers.
Financial obligation ratio of the business is increasing due to its costs on mergers, acquisitions and R&D development instead of payment of financial obligations. This increasing debt ratio posture a threat of default of Mtn Cameroon The Competitive Advantage Of Being African to its financiers and might lead a decreasing share prices. Therefore, in regards to increasing financial obligation ratio, the firm ought to not invest much on R&D and must pay its existing financial obligations to decrease the risk for investors.
The increasing threat of investors with increasing financial obligation ratio and decreasing share prices can be observed by substantial decline of EPS of Mtn Cameroon The Competitive Advantage Of Being African Case Help stocks.
The sales growth of company is also low as compare to its mergers and acquisitions due to slow understanding structure of consumers. This slow development also hinder business to additional spend on its mergers and acquisitions.( Mtn Cameroon The Competitive Advantage Of Being African, Mtn Cameroon The Competitive Advantage Of Being African Financial Reports, 2006-2010).
Keep in mind: All the above analysis is done on the basis of charts and calculations given in the Displays D and E.
TWOS Analysis.
TWOS analysis can be used to obtain numerous methods based upon the SWOT Analysis given above. A quick summary of TWOS Analysis is given in Exhibition H.
Strategies to exploit Opportunities using Strengths.
Mtn Cameroon The Competitive Advantage Of Being African Case Solution should present more ingenious items by big quantity of R&D Costs and mergers and acquisitions. It could increase the market share of Mtn Cameroon The Competitive Advantage Of Being African and increase the profit margins for the business. It might likewise provide Mtn Cameroon The Competitive Advantage Of Being African a long term competitive advantage over its competitors.
The global expansion of Mtn Cameroon The Competitive Advantage Of Being African need to be focused on market recording of establishing countries by expansion, attracting more consumers through consumer's loyalty. As developing countries are more populous than industrialized countries, it could increase the consumer circle of Mtn Cameroon The Competitive Advantage Of Being African.
Strategies to Overcome Weak Points to Exploit Opportunities.
Mtn Cameroon The Competitive Advantage Of Being African Case Solution should do careful acquisition and merger of companies, as it could impact the customer's and society's perceptions about Mtn Cameroon The Competitive Advantage Of Being African. It needs to combine and obtain with those business which have a market reputation of healthy and healthy business. It would enhance the perceptions of consumers about Mtn Cameroon The Competitive Advantage Of Being African.
Mtn Cameroon The Competitive Advantage Of Being African must not just spend its R&D on innovation, instead of it ought to also focus on the R&D costs over assessment of expense of different healthy items. This would increase cost efficiency of its products, which will result in increasing its sales, due to decreasing costs, and margins.
Methods to utilize strengths to conquer hazards.
Mtn Cameroon The Competitive Advantage Of Being African must move to not just developing but likewise to developed countries. It should expand its circle to various countries like Unilever which runs in about 170 plus nations.
Methods to overcome weaknesses to avoid dangers.
Mtn Cameroon The Competitive Advantage Of Being African must wisely manage its acquisitions to prevent the danger of misconception from the consumers about Mtn Cameroon The Competitive Advantage Of Being African. It needs to combine and acquire with those countries having a goodwill of being a healthy business in the market. This would not only enhance the perception of consumers about Mtn Cameroon The Competitive Advantage Of Being African however would likewise increase the sales, profit margins and market share of Mtn Cameroon The Competitive Advantage Of Being African. It would likewise enable the company to use its prospective resources efficiently on its other operations rather than acquisitions of those companies slowing the NHW method development.
Alternatives.
In order to sustain the brand in the market and keep the consumer intact with the brand name, there are 2 choices:.
Option: 1.
The Business should invest more on acquisitions than on the R&D.
Pros:.
1. Acquisitions would increase total properties of the company, increasing the wealth of the business. However, spending on R&D would be sunk expense.
2. The business can resell the obtained units in the market, if it fails to execute its method. Nevertheless, quantity invest in the R&D could not be restored, and it will be thought about totally sunk expense, if it do not provide prospective results.
3. Investing in R&D supply slow growth in sales, as it takes very long time to present a product. Acquisitions provide quick outcomes, as it offer the company currently developed product, which can be marketed quickly after the acquisition.
Cons:.
1. Acquisition of company's which do not fit with the company's values like Kraftz foods can lead the company to deal with mistaken belief of customers about Mtn Cameroon The Competitive Advantage Of Being African core values of healthy and nutritious items.
2. Large spending on acquisitions than R&D would send out a signal of business's inefficiency of developing ingenious items, and would results in customer's frustration also.
3. Big acquisitions than R&D would extend the line of product of the business by the items which are currently present in the market, making company not able to present new ingenious products.
Alternative: 2
The Business needs to spend more on its R&D rather than acquisitions.
Pros:
1. It would allow the company to produce more innovative items.
2. It would supply the company a strong competitive position in the market.
3. It would make it possible for the company to increase its targeted clients by introducing those items which can be offered to a totally new market segment.
4. Innovative items will supply long term advantages and high market share in long run.
Cons:
1. It would reduce the earnings margins of the company.
2. In case of failure, the entire costs on R&D would be thought about as sunk cost, and would affect the company at big. The risk is not in the case of acquisitions.
3. It would not increase the wealth of business, which could offer an unfavorable signal to the investors, and might result I decreasing stock costs.
Alternative 3:
Continue its acquisitions and mergers with considerable costs on in R&D Program.
Pros:
1. It would enable the company to introduce brand-new ingenious items with less danger of transforming the costs on R&D into sunk expense.
2. It would offer a positive signal to the investors, as the general assets of the company would increase with its substantial R&D costs.
3. It would not affect the revenue margins of the company at a big rate as compare to alternative 2.
4. It would offer the business a strong long term market position in regards to the business's overall wealth as well as in terms of innovative products.
Cons:
1. Danger of conversion of R&D costs into sunk cost, higher than option 1 lesser than alternative 2.
2. Danger of misconception about the acquisitions, greater than alternative 2 and lesser than option 1.
3. Introduction of less variety of ingenious items than alternative 2 and high number of innovative products than alternative 1.
Recommendation
With the deep analysis of the above alternatives, it is suggested that the company ought to select the alternative 3 in order to keep a competitive position in the long run. As the alternative 3 would enable the company to not just introduce ingenious and brand-new items in the market it would likewise reduce the high expenses on R&D under alternative 2 and increase the profit margins. It would make it possible for the company to increase its share rates too, as investors want to invest more in companies with substantial R&D spending and increase in the total worth of the company.
Action and application Strategy
Method can be executed effectively by developing particular short term in addition to long term strategies. These strategies might be as follows;
Short Term Strategy (0-1 year).
• Under the short-term strategy Mtn Cameroon The Competitive Advantage Of Being African Case Analysis should carry out various activities to execute its NHW technique efficiently. These activities are as follows;.
• Get the audit of its brand name portfolio done, to examine the core selling brands, which produce most of its revenue.
• Examine the existing target audience as well as the marketplace section which is not consist of in the company's circle.
• Evaluate the present financial data to determine the quantity that should be invested in the R&D and acquisitions.
• Analyze the prospective financiers and their nature, i.e. do they desire long term advantages (capital gain), or the desire early profits (dividend). It would let the company to know that just how much amount should be spent on R&D.
Mid Term Strategy (1-5 years).
• Get those organizations in which the business has potential experience to handle. Acquire most beneficial organizations with a strong commitment to health, to construct the customer's perceptions in the ideal direction.
• Focus more on acquisitions than R&D to build the base in the consumer's mind about Mtn Cameroon The Competitive Advantage Of Being African worths and vision and to avoid possible threat of sunk cost.
Long Term Plan (1-10 years).
• Get companies with health in addition to taste factor, as the base for the Mtn Cameroon The Competitive Advantage Of Being African as a business producing healthy items has been constructed under midterm plan and now the company could move towards taste factor too to grasp the consumers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to build brand-new products.
Conclusion.
Mtn Cameroon The Competitive Advantage Of Being African has actually remained the top market gamer for more than a years. It has institutionalised its techniques and culture to align itself with the market modifications and customer habits, which has ultimately allowed it to sustain its market share. Though, Mtn Cameroon The Competitive Advantage Of Being African has actually developed substantial market share and brand identity in the urban markets, it is recommended that the company should focus on the rural areas in terms of establishing brand name awareness, equity, and loyalty, such can be done by creating a particular brand allowance strategy through trade marketing methods, that draw clear difference between Mtn Cameroon The Competitive Advantage Of Being African Case Help products and other competitor products. Moreover, Mtn Cameroon The Competitive Advantage Of Being African ought to take advantage of its brand image of healthy and safe food in catering the rural markets and also to upscale the offerings in other categories such as nutrition. This will allow the business to develop brand name equity for freshly introduced and currently produced items on a higher platform, making the efficient usage of resources and brand image in the market.
