BUSINESS POLICY &

STRATEGY

SUBMITTED TO,
Sir. SAQIB BUTT
Final Project

(Gourmet foods)
 Final Project

SUBMITTED BY

GROUP MEMBERS

NAME & ROLL NO

o TAYYAB FAROOKA BBHM-F19-012

o SHANZY IKHLAQ BBHM-F19-005
o KAINAT MARIAM BBHM-F19-006
o NIMRA YASIN BBHM-F19-013
o WAJEEHA ZAHID BBHM-F19-101

COMPANY

GOURMET FOODS

Contents
1. INTRODUCTION & HISTORY................................................................................................................3

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 Products..........................................................................................................................................4
2. PEST Analysis:.....................................................................................................................................4
 Political:...........................................................................................................................................5
 Law and order.............................................................................................................................5
 Political stability..........................................................................................................................5
 Economic:........................................................................................................................................6
 Monetary policies.......................................................................................................................6
 Fiscal policy.................................................................................................................................7
 Social:..............................................................................................................................................7
 Geographic &Demographic.........................................................................................................7
 Technological:.................................................................................................................................8
3. Porter's Five Forces Model:................................................................................................................8
4. Opportunities:.....................................................................................................................................9
5. Threats:.............................................................................................................................................11
6. External Factor Evaluation (EFE) Matrix for Gourmet Foods:..........................................................12
o Interpretation:..............................................................................................................................13
7. Major competitors:...........................................................................................................................14
8. VRIO Framework Analysis:................................................................................................................14
1. Valuable........................................................................................................................................14
2. Rare...............................................................................................................................................14
3. Inimitable......................................................................................................................................14
4. Organized......................................................................................................................................15
9. Value Chain Analysis:........................................................................................................................15
 Primary Activities:.........................................................................................................................15
 Support Activities:.........................................................................................................................15
10. IFE (Internal Factor Evaluation) Matrix of Gourmet Foods:.........................................................16
Interpretation:......................................................................................................................................17
11. SWOT matrix for Gourmet Foods based on the same strengths, weaknesses, opportunities, and
threats identified in the EFE and IFE matrices:.........................................................................................17
Interpretation:......................................................................................................................................18
12. SPACE Matrix for Gourmet Foods:................................................................................................19
Interpretation:......................................................................................................................................19

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13. QSPM matrix for Gourmet Foods:................................................................................................20

Interpretation:......................................................................................................................................20
14. Implement the selected strategies of Innovation and R&D, and Market Expansion, the
following steps can be taken:...................................................................................................................21
15. Implemented strategy and its evaluation for Gourmet Foods. However, I can suggest some
general metrics that could be used to evaluate the success of the implemented strategy:...................22
16. Appendixes....................................................................................................................................24
 Income Statement.........................................................................................................................24
 Balance Sheet................................................................................................................................25

1. INTRODUCTION & HISTORY

Gourmet Foods is a well-known food retailer in Pakistan that offers a wide range of products
including bakery items, frozen foods, spices, and condiments. The company was established in
1987 and is headquartered in Lahore, Pakistan. Gourmet Foods has over 100 outlets across the
country and is known for its high-quality products and innovative food items. The company has
won several awards for its quality and innovation, and also exports its products to other
countries. In addition to its retail business, Gourmet Foods also has a catering division that
provides food services for events and occasions.

 Products
Gourmet Foods is a well-known food retailer in Pakistan that offers a wide range of food
products. Some of the products that they offer include:

 Bakery items: Gourmet Foods offers a variety of fresh baked goods such as bread,
cakes, pastries, cookies, and muffins.
 Frozen foods: The company also offers a range of frozen foods such as frozen fruits and
vegetables, frozen meats, frozen pizzas, and frozen snacks.
 Spices: Gourmet Foods is known for its high-quality spices such as cumin, coriander,
turmeric, chili powder, and garam masala.
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 Condiments: The company also offers a variety of condiments including ketchup,

mayonnaise, salad dressings, and sauces.
 Ready-to-eat meals: Gourmet Foods also offers a range of ready-to-eat meals such as
biryani, chicken tikka, and kababs.
 Snacks: The company also offers a variety of snacks such as chips, popcorn, nuts, and
dried fruits.

2. PEST Analysis:

o POLITICAL FACTORS
Law and order
Political stability
o ECONOMIC FACTORS
Monetary policies
Fiscal policy
o SOCIAL FACTORS
Geographic &Demographic
Psychographic
o TECHNOLOGICAL FACTORS
Forecasting
Trend

 Political:
 The political stability of Pakistan could impact Gourmet Foods' operations, as political
unrest can lead to supply chain disruptions and a decrease in consumer confidence.
 Changes in government policies or regulations, such as import/export regulations or
taxation policies, could impact the cost of production and profitability for Gourmet
Foods.
 The political environment directly influences all the business working in the country.
similarly, the production distribution and use of Gourmet’s products are also effected by
some federal laws, such as the Food and Drug Act.

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 Law and order

Act of terrorism
As we know that the act of terrorism is increasing day by day in Pakistan and it is not
confined to any particular city, terrorism is badly affecting the business in allover the
Pakistan. According to the statistics the terrorism percentage is increasing continuously
and it is not a good sign.
Crime rates
As the crime rate is prevailing in the city of Islamabad it is most serious issue for the
business running in Islamabad according to the statistics the crime rate percentage
increases by 17% in 2019. It has adverse effect on sales of the retail outlet

 Political stability
Source of authority
Business flourishes if the source if authority is stable. If the authoritative power is
changes continuously there is inconsistency in the policies because each individuals has
its own mandate.
Frequency of election
If we look at the history the frequency of election in Pakistan is not consistent but from
2008 the trend is changing and the government is changing through proper channel
which is a good sign for businesses operating in Pakistan.

 Economic:
 Economic growth in Pakistan can impact Gourmet Foods' sales and profitability. A
growing economy means increased consumer spending and demand for food products.
 Inflation and rising food prices can lead to reduced consumer demand for Gourmet
Foods' products.
 Pakistan’s economy has shown resilience against shocks of high intensity which include
domestic factors such as political uncertainty, security situation and international
financial crisis, in addition to an unprecedented rise in food and energy prices.
According to Pakistan Biscuit & Confectionery Manufacturers Association, Pakistan’s

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Bakery and Confectionary Industry has grown within average annual rate of 8.5% to
9.5% during 2010-20

 Monetary policies
Exchange rate
Exchange has great impact on the bakery business because some ingredient used in the
products are imported from foreign countries and if the exchanged rate of the currency
of that country increases the cost of import for a particular ingredient also increases.
This increases the cost of production.
Inflation rate
As far as inflation rate is concerned it is increase in money supply in an economy which
ultimately result into increase in general price level of the commodity. Pakistan is facing
high inflation rate it was 5.37 % in May 2013 and now it is8.55% in till September
2013.So most of the product ingredient show increase in prices on the other hand as
inflation rate increase the purchasing power of the consumer also decreases and the
sales of the business also affected by it.
Interest rate
Interest rate also effect the business because some people use credit cards for the
purchase of bakery product as the interest rate increase people stop purchasing through
credit card and the sales of bakery may be affected. Consider the example of
households and consumers who like to pay for their goods and services using borrowing
such as credit cards or a bank overdraft or loan. Also think about households who have
substantial balances outstanding one mortgage used to finance a house purchase

 Fiscal policy
Tax
According to Sales Tax Act 1990, the Federal Government exempts the whole of sales
tax on the import and supplies of the goods The items which are exempted mostly used
in bakery product which is help full in reducing the cost of production
similarly the government has increase the sales tax on sweets form 17% to 19%

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 Social:
 Changing consumer preferences and demographics can impact the demand for Gourmet
Foods' products. For example, a shift towards healthier food options could lead to
increased demand for Gourmet Foods' baked goods that are made with healthier
ingredients.
 The growing middle class in Pakistan could result in increased demand for high-quality
food products.

 Geographic &Demographic
As65% percent of the total population and youngsters are working especially the
women, their daily lives are becoming very fast and they don’t have time to cook at
home. Due to this reason more people are now seeking convenience goods, which act as
alternative to the traditional meals. Although people are becoming more aware and
more health conscious thus they demand high standards of quality and hygiene along
with a balanced nutrition. Due to westernization and change in life style the demand for
bakery product is increasing day by day.

 Technological:
 Advancements in technology, such as automation and robotics, could impact Gourmet
Foods' operations and cost of production.
 E-commerce and digital platforms could provide new opportunities for Gourmet Foods
to reach customers and expand its market reach.
 Technology in this industry is therefore limited to function as a catalyst to improve
production capacities, speed of product manufacturing cycles, inventory management.
It has to pay attention to the new distribution techniques as well. For example: that you
put lots of pizza s on the conveyer belt of the Owen and within few minutes you have
baked lots of pizzas.

Conclusion on industry attractiveness: Despite potential challenges in the political and

economic environment, the food industry in Pakistan remains attractive due to its large
population and growing middle class. However, the industry is highly competitive, with many

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players vying for market share. Gourmet Foods has established itself as one of the major
players in the industry and has opportunities to continue expanding its product lines and
leveraging technology to remain competitive.

3. Porter's Five Forces Model:

Porter's Five Forces Model is a framework for analyzing the competitive environment of an
industry. It consists of five forces:

1. The threat of new entrants

2. The bargaining power of suppliers
3. The bargaining power of buyers
4. The threat of substitute products or services
5. The intensity of competitive rivalry

Let's apply this model to the gourmet foods industry:

1. The threat of new entrants: The gourmet foods industry is highly competitive and capital
intensive, which makes it difficult for new entrants to establish themselves. There are
also established brands with strong customer loyalty, making it hard for new companies
to gain market share.
2. The bargaining power of suppliers: Suppliers have some bargaining power in the
gourmet foods industry due to the limited availability of high-quality ingredients.
However, the industry has a wide range of suppliers, which gives buyers some
negotiating power.
3. The bargaining power of buyers: Buyers in the gourmet foods industry have a significant
amount of bargaining power due to the wide range of options available to them. They
can easily switch to other gourmet food products or lower-priced alternatives.
4. The threat of substitute products or services: There is a moderate threat of substitute
products or services in the gourmet foods industry. Consumers may choose to purchase
lower-priced non-gourmet food products or dine at non-gourmet restaurants.

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5. The intensity of competitive rivalry: The gourmet foods industry is highly competitive,
with many established players competing for market share. Companies must continually
innovate and differentiate themselves to stay ahead of their competitors.

Overall, the gourmet foods industry faces moderate to high competition and has significant
bargaining power on both the buyer and supplier sides. Companies must differentiate
themselves through innovation and quality to stay competitive in this industry.

These are just a few examples of the products that Gourmet Foods offers. The company is
known for its high-quality products and has won several awards for its quality and innovation.

opportunities and threats present in this industry

4. Opportunities:
1. Growing population: Pakistan's rapidly growing population presents an opportunity for
companies in the food industry to tap into a larger customer base.
2. Increasing urbanization: The urban population in Pakistan is increasing, and with it,
there is a greater demand for convenience foods and quick-service restaurants.
3. Increasing disposable income: As the economy of Pakistan improves, more people are
able to afford higher-quality and premium food products.
4. Increasing health consciousness: There is a growing trend towards healthier food
options, such as organic and natural foods, which presents an opportunity for
companies to introduce new products.
5. Technological advancements: The use of technology in food production and distribution,
such as online ordering and delivery, presents new opportunities for companies to
expand their reach.
6. Growing tourism industry: As Pakistan's tourism industry grows, there is a greater
demand for quality food and dining experiences.
7. Export potential: Pakistani food products have the potential to be exported to other
countries, creating new markets and revenue streams.

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8. Innovation: There is a growing interest in new and innovative food products in Pakistan,
which creates opportunities for companies to introduce new products and expand their
product lines.
9. Growing demand for halal products: As more consumers seek halal-certified food
products, there is an opportunity for companies to expand their halal offerings.
10. Rising demand for online food ordering: The rise of e-commerce and online food
delivery services presents an opportunity for companies to reach new customers and
expand their reach.
11. Expansion into new markets: There is potential for companies in the food industry to
expand their operations into new markets and regions within Pakistan.
12. Partnership opportunities: Collaborating with other companies or organizations, such as
farmers or local communities, presents an opportunity for companies to create more
sustainable and locally-sourced food products.
13. Expansion into related industries: Companies in the food industry can expand into
related industries such as hospitality, tourism, and catering.
14. Increasing demand for convenience foods: The growing trend towards convenience
foods, such as pre-packaged meals and snacks, presents an opportunity for companies
to expand their product lines.
15. Growing interest in ethnic cuisines: There is a growing interest in ethnic cuisines, such as
Pakistani and South Asian food, which presents an opportunity for companies to
introduce new and unique products.

5. Threats:
1. Intense competition: The food industry in Pakistan is highly competitive, with many
established players and new entrants competing for market share.
2. Cost pressures: Rising costs of ingredients, labor, and other inputs can put pressure on
profit margins.
3. Food safety concerns: The food industry in Pakistan faces challenges related to food
safety and hygiene, which can negatively impact consumer confidence and trust.

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4. Regulatory challenges: The food industry is subject to regulations and standards set by
government agencies, which can create compliance challenges and increase costs.
5. Health concerns: The growing concern over health issues, such as obesity and diabetes,
can impact consumer demand for certain types of food products.
6. Climate change: Climate change and natural disasters can impact food production and
distribution, leading to potential supply chain disruptions.
7. Changing consumer preferences: Consumers' preferences and tastes can change quickly,
making it challenging for companies to keep up with changing demands.
8. Economic instability: Economic instability and recessions can impact consumer spending
and purchasing habits.
9. Fluctuating commodity prices: Fluctuations in the prices of commodities such as wheat,
sugar, and oil can impact profit margins for companies in the food industry.
10. Geopolitical risks: Political instability and conflict can impact the food industry, including
supply chain disruptions and decreased consumer demand.
11. Changing technology: Advances in technology can disrupt traditional.
12. Labor shortages: The food industry in Pakistan, like many other industries, could
experience labor shortages due to factors such as immigration policies, changes in
demographics, or an aging workforce.
13. Supply chain disruptions: Disruptions to the supply chain, such as transportation issues,
natural disasters, or trade restrictions, could impact the availability of ingredients and
finished products.
14. Counterfeit products: The food industry in Pakistan, like other industries, may face
challenges with counterfeit products that can harm brand reputation and erode
consumer trust.
15. Changing government policies: Changes in government policies, such as trade
agreements or taxation policies can have an impact on the food industry and may result
in increased costs or reduced profits.

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6. External Factor Evaluation (EFE) Matrix for Gourmet

Foods:
Weight Rating Weighted Score
Increasing Demand for Gourmet 0.15 4 0.60
Foods
Intense Competition from 0.15 2 0.30
Established Brands
Growing Popularity of Health 0.10 3 0.30
Foods
Fluctuating Prices of Ingredients 0.10 2 0.20
Technological Advancements in 0.10 4 0.40
Food Industry

Regulatory Compliance 0.10 3 0.30

Requirements
Growing Popularity of Online 0.10 4 0.40
Food Shopping

Changing Consumer Tastes and 0.10 3 0.30

Preferences
Climate Change and 0.10 2 0.20
Environmental Issues
Total 1.00 2.80

o Interpretation:
The EFE matrix score for Gourmet Foods is 2.80 out of 5. This indicates that the company is
facing a moderately challenging external environment. The most significant external factor for

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the company is the increasing demand for gourmet foods, which it is responding to quite well
with a rating of 4. However, the company is facing intense competition from established
brands, which it is not responding to as well, with a rating of only 2. The company also needs to
pay more attention to changing consumer tastes and preferences, which it has rated as 3.
Overall, the company needs to continue to innovate and differentiate itself to stay ahead of its
competitors in this highly competitive industry.

7. Major competitors:
Gourmet Foods operates in a highly competitive market in Pakistan. Some of its major
competitors include:

1. National Foods Limited

2. Shan Foods
3. Mitchell’s Fruit Farms Limited
4. Habib Oil Mills (HOM)
5. K&N’s Foods Pvt. Limited
6. Dawn Foods
7. Quice Food Industries
8. Engro Foods Limited
9. Nestle Pakistan Limited
10. Coca Cola Beverages Pakistan Limited

These companies also offer a wide range of food products to consumers and are constantly
innovating and expanding their product lines to remain competitive in the market.

8. VRIO Framework Analysis:

1. Valuable
Gourmet Foods has a strong brand image and reputation for high-quality food products,

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which provides value to the company. The company's exclusive recipes and high-quality
ingredients also provide a competitive advantage.
2. Rare
Gourmet Foods has developed unique recipes and cooking techniques that are rare in
the food industry. The company's exclusive use of high-quality ingredients also sets it
apart from competitors.
3. Inimitable
Gourmet Foods' exclusive recipes and cooking techniques are not easy to imitate, as
they require significant experience and expertise in food preparation. Additionally, the
company has developed a strong brand image that is difficult for competitors to
replicate.
4. Organized
Gourmet Foods has a well-organized supply chain and distribution system that allows it
to efficiently source high-quality ingredients and deliver its products to customers.

Based on this analysis, Gourmet Foods' unique recipes, high-quality ingredients, and strong
brand image are valuable, rare, and inimitable resources that are well-organized, giving the
company a sustainable competitive advantage.

9. Value Chain Analysis:

 Primary Activities:
 Inbound Logistics: Gourmet Foods sources high-quality ingredients from reliable
suppliers to ensure that its food products are of the highest quality.
 Operations: The company uses exclusive recipes and cooking techniques to create high-
quality food products that are unique in the market.
 Outbound Logistics: Gourmet Foods delivers its products to customers through various
channels, including retail stores and online platforms.
 Marketing and Sales: The company markets its food products through various channels,
including social media, advertising, and promotions.

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 Service: Gourmet Foods provides excellent customer service to customers, ensuring that
any complaints or issues are resolved promptly.

 Support Activities:
 Procurement: The company has established strong relationships with reliable suppliers
to ensure that it can source high-quality ingredients consistently.
 Human Resource Management: Gourmet Foods hires experienced chefs and food
experts to develop unique recipes and cooking techniques, ensuring that its food
products are of the highest quality.
 Technology Development: The Company invests in R&D to develop new and innovative
food products that can provide a competitive advantage in the market.
 Infrastructure: Gourmet Foods maintains high-quality facilities and equipment to
support its food preparation and packaging operations.
 Company Culture: The Company fosters a positive and collaborative company culture
that encourages creativity, innovation, and professional growth.

Based on this analysis, Gourmet Foods has a strong value chain with exclusive recipes, high-
quality ingredients, efficient operations, excellent customer support, and investments in R&D
and infrastructure. These factors contribute to the company's competitive advantage in the
market.

Challenges in the market.

10. IFE (Internal Factor Evaluation) Matrix of Gourmet

Foods:

Key Internal Factors Weight Rating Weighted Score

Strong brand image and reputation 0.15 4 0.6
Exclusive recipes and cooking techniques 0.10 4 0.4
High-quality ingredients 0.10 4 0.4
Efficient supply chain and distribution system 0.08 3 0.24

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Experienced chefs and food experts 0.07 3 0.21

Strong customer service 0.06 4 0.24
Investment in R&D 0.10 3 0.3
Positive and collaborative company culture 0.05 3 0.15
Total 1.00 2.54

Interpretation:
The IFE Matrix score for Gourmet Foods is 2.54, which indicates that the company's key internal
factors are above average in terms of their contribution to the company's overall performance.
The company's strong brand image, exclusive recipes and cooking techniques, and high-quality
ingredients are major strengths that have contributed significantly to its success in the market.
Additionally, the efficient supply chain and distribution system, experienced chefs and food
experts, and strong customer service are also important internal factors that have contributed
to the company's success. The investment in R&D and positive company culture are other
internal factors that have helped Gourmet Foods stay ahead of its competitors. Overall, the IFE
Matrix indicates that Gourmet Foods has a strong internal position and is well-positioned to
continue its growth and success in the market.

11. SWOT matrix for Gourmet Foods based on the same

strengths, weaknesses, opportunities, and threats
identified in the EFE and IFE matrices:

Strengths Weaknesses

Opportunities S-O Strategies: Expanding product line W-O Strategies: Addressing quality
Entering new markets Developing control issues. Addressing low
online presence. employee morale and retention.

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W-O Strategies: Improving supply

chain and distribution Investing in
R&D to innovate new products and
processes

Threats S-T Strategies: Partnering with Intense competition in the market.

suppliers to ensure consistent quality Changing consumer preferences and
and cost. Diversifying product lines to trends. Political and economic
mitigate risks. Implementing cost instability. Increased regulation and
control measures. compliance costs

W-T Strategies: Addressing supply

chain issues. Addressing staffing
issues and improving retention

Interpretation:
The SWOT matrix shows that Gourmet Foods has several strengths that it can leverage to take
advantage of the opportunities in the market. Expanding the product line, entering new
markets, developing an online presence, improving supply chain and distribution, and investing
in R&D are all potential strategies that can help the company grow and thrive. The company can
also address its weaknesses by addressing quality control issues, low employee morale and
retention, and supply chain issues.

However, the company also faces several threats that it needs to be aware of and address.
Intense competition in the market, changing consumer preferences and trends, political and
economic instability, and increased regulation and compliance costs are all potential risks that

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can impact the company's growth and profitability. To mitigate these risks, the company can
partner with suppliers to ensure consistent quality and cost, diversify its product line to reduce
risks, and implement cost control measures. Overall, the SWOT matrix highlights the need for
Gourmet Foods to continue building on its strengths and addressing its weaknesses, while also
being aware of and preparing for potential risks and challenges in the market.

12. SPACE Matrix for Gourmet Foods:

Financial Strength (FS)
Competitive Advantage (CA) 4
Industry Strength (IS)
Environmental Stability (ES)
Internal Strategic Position (ISP) External Strategic Position (ESP)
4 3
2
3 2
3 4

Interpretation:
The SPACE Matrix score for Gourmet Foods falls in the aggressive quadrant, which suggests that
the company should pursue an aggressive strategy. This is because the company has a strong
internal strategic position (ISP) based on its financial strength and competitive advantage, and a
moderate external strategic position (ESP) based on industry strength and environmental
stability.

The company should consider pursuing strategies that involve expanding its product line,
entering new markets, and investing in R&D to innovate new products and processes. The
company should also focus on improving its supply chain and distribution system to ensure
consistent quality and timely delivery of products. Additionally, the company should consider
investing in marketing and advertising to increase brand awareness and expand its customer
base.

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Overall, the SPACE Matrix highlights the need for Gourmet Foods to pursue an aggressive
strategy that leverages its strengths and opportunities in the market. By doing so, the company
can continue to grow and succeed in the highly competitive food industry.

13. QSPM matrix for Gourmet Foods:

Strategic Market Product Innovation Supply Chain Marketing

Options Expansion Diversification and R&D and and
Distribution Advertising
Internal Factors
Financial 4 3 4 3 3
Strength (FS)
Competitive 4 3 4 3 3
Advantage (CA)
External Factors
Industry 3 3 4 4 3
Attractiveness
(IA)
Environmental 3 2 4 3 3
Stability (ES)
Total 14 11 16 13 12
Attractiveness
Score

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Interpretation:
Based on the QSPM matrix, the most attractive strategic option for Gourmet Foods is
Innovation and R&D, with a total attractiveness score of 16. This is followed closely by Market
Expansion with a score of 14. These two strategies leverage the company's strengths in financial
strength and competitive advantage, while also capitalizing on external factors such as industry
attractiveness and environmental stability.

Product Diversification and Supply Chain and Distribution are also attractive options, with total
attractiveness scores of 11 and 13, respectively. However, these strategies may require more
resources and investment to implement effectively.

Marketing and Advertising is the least attractive option, with a total attractiveness score of 12.
This is likely because the food industry is highly competitive and saturated, and the
effectiveness of marketing and advertising campaigns may be limited.

Overall, the QSPM matrix highlights the need for Gourmet Foods to focus on innovation and
R&D, as well as market expansion, to drive growth and success in the industry.

14. Implement the selected strategies of Innovation and

R&D, and Market Expansion, the following steps can be
taken:
1. Establish a dedicated R&D team: Gourmet Foods should establish a dedicated team
focused on research and development, tasked with identifying new product
opportunities, exploring new technologies and innovations, and improving existing
products.
2. Allocate resources towards R&D: The company should allocate sufficient resources
towards R&D efforts, including funding, personnel, and technology.
3. Expand production facilities: To support market expansion efforts, Gourmet Foods
should consider expanding its production facilities to meet growing demand. This may

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involve building new manufacturing plants, upgrading existing facilities, and investing in
new equipment and technology.
4. Enter new markets: The company should explore new markets to expand its customer
base and increase revenue. This may involve entering new geographic regions, targeting
new customer segments, or offering new products tailored to specific markets.
5. Strengthen supply chain and distribution: To ensure consistent quality and timely
delivery of products, Gourmet Foods should focus on improving its supply chain and
distribution system. This may involve building new warehouses and distribution centers,
improving logistics and transportation, and developing stronger relationships with
suppliers.
6. Invest in marketing and advertising: While not the most attractive option according to
the QSPM matrix, investing in marketing and advertising can still play an important role
in driving growth and increasing brand awareness. Gourmet Foods should consider
developing targeted campaigns aimed at specific customer segments, and leveraging
social media and digital marketing channels to reach a wider audience.
7. Monitor progress and adjust as needed: Throughout the implementation process,
Gourmet Foods should monitor progress and adjust its strategies as needed based on
changing market conditions, customer feedback, and other factors. Regular
performance reviews and assessments can help ensure that the company is on track to
achieve its goals and objectives.

15. Implemented strategy and its evaluation for Gourmet

Foods. However, I can suggest some general metrics that
could be used to evaluate the success of the implemented
strategy:
1. Revenue growth: One key metric to evaluate the success of the implemented strategy
would be the company's revenue growth. A successful strategy would result in an
increase in revenue over time.

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2. Market share: Another important metric to evaluate the success of the strategy would
be the company's market share. The company should aim to increase its market share in
the food industry, which would indicate that its market expansion and product
diversification efforts are paying off.
3. Customer satisfaction: A successful strategy would also result in higher levels of
customer satisfaction. The company should track customer satisfaction scores and make
adjustments to its strategy if necessary to ensure that it is meeting the needs of its
customers.
4. Innovation and new product development: If the company is successful in its innovation
and R&D strategy, it should result in the development of new and innovative products
that meet the needs of customers and drive revenue growth.
5. Supply chain and distribution efficiency: Improvements in the supply chain and
distribution system should lead to increased efficiency and lower costs, which can be
measured through metrics such as inventory turnover and order fulfillment time.
6. Brand awareness and recognition: The effectiveness of the marketing and advertising
strategy can be measured through metrics such as brand awareness and recognition.
The company should aim to increase its visibility and brand recognition in the food
industry to drive customer engagement and loyalty.

Overall, the success of the implemented strategy will depend on how well it is executed and
how effectively it addresses the company's challenges and opportunities. Regular monitoring
and evaluation of the metrics above can help the company make adjustments and refine its
strategy over time.

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16. Appendixes
 Income Statement

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 Balance Sheet

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