Strategic Management
Companies that intend to remain competitive must focus their efforts on making strategic decisions for the future. Every organization deserves leaders that are focused on improving growth. Consultants play a central role in advising firms on the best practices that offer high chances for achieving success.
Honest Tea Company is a major player in the organic beverage sector with over fifteen years of experience in the sector. The company has create a loyal following in America, as indicate by their increasing revenues, and hence the idea of expansion is an ideal one. I would advise them to venture into foreign markets since could increase the revenues significantly. A wider market for a product will automatically result in increased sales.
I would also advise the firm to conduct diverse surveys and interviews on existing customers to determine their favorite flavors and drink ideas. This strategy allows the company to understand the leading brand so as to use them in building towards success. It means that they will avoid producing slow-moving flavors in large quantities, which often results in dead stock. The faster the product moves off the shelves, the better it is for Honest Tea’s future prospects.
Marketing is a powerful tool for driving up the prospects of any organization. I would advise Honest Tea to invest more in paid advertising to create more awareness. The current field marketers are effective but the use of paid media will reach a wider audience across the country. There is a proliferation of nutritious beverages and hence consumers are spoilt for choice. Honest Tea must drive the message of its uniqueness to set itself apart from the competition.
Consistent product development will keep bringing new customers to the company. The company should embark on research and development to keep churning out new flavors and ideas that will capture new markets. Development can be in terms of additions like vitamins, flavors, or even different packaging to attract people. For example, switching to environmentally-friendly packaging could attract a new group of consumers.
References
The Honest Truth about Honest Tea. (2017, May 15). Retrieved from http://www.coca-colacompany.com/stories/the-honest-truth-about-honest-tea
