¶ … goal of the five-year strategic plan is to be the market leader in the Asian market, to maintain the position in the North American market, and establish the product in the European market. At the same time Elite Inc. will grow as an international company, taking advantage of the free trade environment to establish factories in the most cost-effective locations. This strategy will ensure that the same product quality can be maintained while also seeking cost-savings. The expansion of Elite Inc. into more markets will allow savings per unit manufactured increasing the financial position. The greater variety of markets will allow Elite Inc. To absorb any adverse effects in one market, therefore helping to maintain steady sales and steady growth. Along with the companies wide product range and high quality this will ensure Elite Inc. remains competitive.
Elite Inc. will continue its current strategy in Asia, using the factory in the region to create the product at low cost and expanding the number of retail outlets in the region.
To increase supply, extra factories will also be located in Asia or other low-cost locations to take advantage of the low cost of manufacture in the region. These factories will be used to create product for the European market. Elite Inc. will not open a factory in Europe but will begin to offer their product in Europe. The lower cost of production will mean that Elite Inc. can offer their product at competitive prices compared to manufactures with factories in Europe.
Marketing and advertising will also be substantial to attract customers to Elite Inc. The competitive advantage will be based on Elite Inc. being seen as the product with style, assisted by the wide range of styles available.
This marketing and advertising campaign will also be used in the American and Asian markets, with the same basic ideas being used as each. The idea will be to increase the number of sales each consumer makes by advertising Elite Inc. footwear as fashion accessories rather than footwear. This strategy in Europe will be effective for the mature market, where the focus is not on increasing the number of buyers of footwear but increasing the number of units each buyer purchases. In all markets this will increase demand, while Elite Inc. becomes known as the brand with style.
INGLOT'S STRATEGIC PLAN Strategic Plan Firm-level factors contributing to INGLOT's competitive advantage Country-level (macro) factors that have contributed to INGLOT's competitive advantage Sustainability of INGLOT INGLOT's strategic plan for the next five years Strategic direction and goals Organization of INGLOT's strategic plan Environmental scan Sources of agility Sources of absorption Sources of agile absorption Strategic action plan by year INGLOT's strategic plan Firm-level factors contributing to INGLOT's competitive advantage INGLOT is committed to research and development in order to meet customer needs. One is the
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