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Strategies in action
Integration strategies
Taking into account all the integration strategies, we strongly consider that at this moment we either don´t need them or they are necessary for the development of growth, well-being and success. We believe that instead of looking to control or acquire and expand our organization we first need to establish and create a stronger position in the market, reaching economic stability towards the development of integrating strategies.
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Forward integration: Forward integration is an integration strategy focused on taking control over distributors or even acquiring them. Since Homie is in charge of distributing its own service to customers by ourselves, we don’t need to take control over other distributors or even buying them.
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Backward integration: Backward integration looks for taking control over or acquiring suppliers. Analyzing at current moments of the organization, in which we have just begun in the market, the quantity and magnitude of demanding equipment and tools is not so big not being necessary to control or purchase different suppliers ( Rising organizations doesn’t need a huge magnitude of equipment, workers or technology to supply the demand of its target market)
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Horizontal Integration: A horizontal integration is focused on taking control over or acquiring competitors. Based on our current status incrementing control over competitors it’s really difficult for a rising organization like ours, having little experience in the industry, about the environment and minimum expertise of its employees.
Nevertheless, based on our long term objectives, we also consider that in a possible future (2 years) the best and most useful strategy that assures the achievement of some of our long term objectives is a horizontal integration strategy. As the matter of fact, since the majority of our long term objectivesare aimed towards the expansion of our service within Bogota, the whole country and possibly in other countries, adding the fact that we are also looking to be recognize as one of the best organizations in the industry , we need to acquire, learn and coevolve from different competitors, being able to control the market to reach success.
Intensive strategies
Based on the intensive strategies previously analyzed, long term objectives and on the best ways in which our organization call reach economic stability and success we consider that the best intensive strategy to implement at the current moment is a market penetration.
Market penetration strategies allows organizations to increase their position and the market share of their products within the market place, we look for the creation of good and solid bases and a great differentiation and positioning of our company and its services, having the ability to increase the demand of our services, encouraging and upgrade our services, our market penetration strategies( promotions, advertisements, among others ) and offering different benefits to our customers to improve loyalty, with the objective of been recognized as an excellent and trustworthy company with a great value preposition that can make customer´s dreams come true.
On the other hand, on a possible future we may want to implement a market development strategy. Implementing a market development strategy will give us the possibility to expand our services to different geographical areas within the country ( at least in the major cities of Colombia ) having a better coverage guarantee the growth of our company and an excellent position in the industry, with the ability to satisfy more current customers and find out potential ones that can be turned into profitable customers for our organization.
3. Diversification strategies:
As Homie we are going to expand our existing line of services; offering more professional services that are related with the housekeeping services such as, carpets, curtains and furniture cleaning.
These kinds of housekeepig services will be included gradually in our portfolio of services.
We will use this type of diversification because it will bring our company a larger portfolio of realated services and, in that way, customers will feel more comfortable with our service. Moreover, related diversification doesn’t need big investment due to the fact, we will offer services that are common in our industry.
Defensive strategies
We strongly consider that the use of defensive strategies is not necessary at the moment, because Homie have just started tu run into the industry, so we either enough information about our environment and competidors nor the adecuate expertise and capabilities to develop defensive strategies, due to our current status of arising organization.
Diversification strategies
We consider that in this moment we are not going to use this kind of strategy, because we want to be focus in just one type of service, by this reason, we don’t want to add another type of service, probably by a long term situation, we could consider to open a new type of service, but at this time is not our goal.
Porter's generic strategies
Cost Leadership – Best Value (Long – term)
In our future years of operation, we expect to achieve a larger range of customers by bringing them the best price/value of our services in the market. To do this we need to emphasize to do our service in the more standardized form trying to reduce the cost of produce the service for all the consumers who are price-sensitive. But by other way we need to work to give the best value to the costumers, to create loyalty to us. This is going to be done giving our high quality service at the lowest price available compared to a rival’s services with similar attributes or improving their service.