Grand strategy matrix
The grand strategy matrix is popular tool for formulating some alternative strategies. Thus, by using this tool the firm will be able to determine its position within the industry and thus formulate specific strategies according to that position.
This matrix is based on two evaluative dimensions represented by two different axis. The X axis it is placed the competitive position of the company, being the left side a weak competitive position and the right side a strong competitive position. Then in the Y axis it is placed the market or industry growth, being the top rapid market growth and the bottom slow market growth.
According to the above, Green road is located in Quadrant I of the Grand strategy matrix because the company is in an excellent strategic position.
The company has created a clear and established competitive advantage thanks to the innovative and fast way of delivering the best products to customers, as the quality and variety of products found on green road are the best.
In this sense, thanks to the new trends in the health and wellness food sector, more and more people are interested in changing their lifestyle and starting to be more active and healthy eating better quality food, but at the same time enrich and delicious that provides all the necessary nutrients for their bodies. Therefore, healthy food has begun to be more bought and consumed by people and thus, the market industry for healthy food is growing. At the same time green road is in a strong competitive position, because currently in Colombia there are not many stores that offer the way in which the products are distributed and the variety and quality of them.
Thanks to the strategic position of the company, the most appropriate strategies to develop would be:
1. Market development
2. market penetration
3. product development
4. forward integration
5. backward integration
6. Horizontal integration
7. Related diversification
For this reason Green Road look at intensive strategies that allow the company to increase their target market and reach more people with the new or the same products they are currently offering. Through market penetration the idea is to increase Green road’s market share with present products in the same segment of market it is placed. Likewise, considering the near future, through market penetration the idea is to introduce new kinds of healthy products into new markets, or geographical areas.
Strategies:
Hence, taking into account the above, the action plan to consider based on the alternatives strategies proposed previously are:
1.Allocate an amount of money so that the company begins to use marketing techniques that can increase the knowledge of the population of Green road and the products that it offers. For example: techniques like campaigns and advertising
2. Develop new alliances with suppliers that could offer new healthy and unique products for the store
3. Use social networks to promote Green road and publicize how the products are distributed