Week 5 draft - advantage in the current communities where...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Based on the above synthesizes, KFF should use product development as its grand strategy. Looking at KFF’s SWOT analysis, the company’s weaknesses are perishable goods, high pay roll, small management team and geographic expansion limitations (Apollo Group, Inc, 2008). By focusing on product development, this will allow KFF to focus on their strengths (like no direct competition and being customer oriented), and will also allow KFF to spend time working on their weaknesses. “Product development involves … the creation of new but related products that can be marketed to current customers through established channels” (Pearce & Robinson, 2009). This strategy would allow KFF to broaden its operations and concentrate on cementing its competitive
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: advantage in the current communities where they already have a presence. With new product development, KFF can focus on providing accessory products that will allow customers to make their culinary visions come true. Expanding the products that KFF produces can help to expand their customer base by offering products that will compliment the food that they serve. The outcome of product development can be a great success to a company. However, there is no guarantee that any new product is going to be successful in the market place. Additionally, there can be expensive to create and market new products....
View Full Document

Ask a homework question - tutors are online