The strategies for the future will be regarding the expansion of the market, cost of production, cost effectiveness and market vulnerability of the strategies of the company. As the management comprises of directing and controlling the company, the coordination is required. This needs harmonizing the group towards accomplishing a goal. The resources available to the company are assessed and are divided into human, financial, technological and natural resources. The management deals with the power by position and this combined with leadership qualities involves the influence in marketing the product. When the company is one of the market leaders its products, the management qualities can be combined with leadership qualities and can be used for growth of the company. As the analysis of the company in this paper is not a new company, the management with the combination of the leadership can be discussed when needed. 1
The stand taken in this paper is that the family name strategy is more effective than the single name strategy. This is because in this case, each product will have a separate name under a family brand name. This will be viable for the companies that produce diversified product line. This in turn requires product line management to make the company successful in keeping the family brand name popular by quality and marketing. The company may lose its dominant position and fails to capitalize on its position if its strategy fails. The strategy of the company that uses high technology to produce its goods represent unique challenges from other or competitors in the industries.
2.2 Product line strategy: The company should follow the changes in technology that brings about remarkable changes in the quality of the products. When the technology is advancing rapidly the lifetime of the product is short and at this juncture and period, the family brand name helps the companies to market the products on the brand value of the family name.