Table of Contents
TABLE OF CONTENTS2
INTRODUCTION AND BACKGROUND4
BCG GROWTH-SHARE MATRIX6
ANSOFF GROWTH STRATEGY MATRIX8
CONCLUSION & RECOMMENDATIONS9
This report will give a forecast on Weatherpruf Show Waxes Ltd.'s expected sales for the coming year, based on market research and through the use of strategic analysis techniques.
The market for wax-based shoe polishes is dramatically shrinking, due in part to the latest product developments on the market (specifically the introduction of liquid shoe polishes) and to the altering consumer methods of use of shoe care products. Because of this altering market environment, the established business of Weatherpruf Shoe Waxes Ltd. will not survive in the long run. The company must flow along with the changes, and take advantage of them.
Weatherpruf must develop its present product and enter the market with several new products.
The development of its present product, Weatherpruf Wax, must glide along the following path:
ÃÂ·Produce the wax in more colors, at least in as many as the major competitor;
ÃÂ·New uses for the product must be researched: for example, using the wax to improve the appearance of briefcases, etc.
Suggested new product developments:
ÃÂ·The introduction of shoe care accessories, for instance, a wax applicator;
ÃÂ·Non-leather foot wear care products;
ÃÂ·Developing a Weatherpruf liquid polish to enter the growing and highly profitable market of liquid polishes.
Marketing activities must also be rethought. Following the R&D stage of the strategic shift as presented in the report, a marketing campaign must be launched to ensure the success of the new and improved Weatherpruf product range.
Introduction and Background
The aim of this report is to provide Weatherpruf Shoe Waxes Ltd. with a sales forecast for the coming year, due to concerns about the...