¶ … 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.
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