Diversification plans of Prime Technologies

摘要

Purpose - The purpose of this paper is to gain an insight about the strategy of diversificationrnadopted by the company, Prime Technology, to increase its profits. The study is made so as tornunderstand the essential aspects which any firm should consider before deciding to venture into a newrnbusiness so that it may not end in failure.rnDesign/methodology/approach - The case is basically a narration of the business strategyrnadopted by Prime Technology and the aftermaths of the decisions taken in haste.rnFindings - The paper showcases the experience of Prime Technology related to the correctness ofrnthe decisions taken related to the brand positioning and logistics involved with the import of arnperishable commodity. It suggests that proper ground work while importing a product like chocolatesrnplays a vital role in deciding the fate of an importer's fortune. Thus correct timing, packing andrnmarketing are all close knit parameters for success.rnPractical implications - The case provides traders with an insight in understanding the vitality ofrnthe decisions related to logistics and brand positioning while importing a product that is not veryrnpopular in the domestic country, and especially if it is a perishable commodity.rnOriginality/value - This case is an original attempt to illustrate the core drivers and capabilities forrnachieving success in a diverse field. The insights from the case demonstrate the value of properrnplanning, strategies to companies that are open to expand and recognize the need to focus the use ofrnscarce value-adding resources.