Lance Armstrong and Livestrong Foundation Rising Again After the Fall Case Solution

The Harvard Business Review published a case study that primarily focuses on Lance Armstrong and Livestrong Foundation Rising Again After the Fall. The following case solution has been designed to give the reader an overview about the business world along with a clear understanding of its growth dynamics. Recently, Lance Armstrong and Livestrong Foundation Rising Again After the Fall has been subjected to strategic as well as managerial problems that require immediate attention so that they can be resolved to allow future growth, expansion, and competitive edge within the marketplace. This case study solution is being written to provide a strategic solution to Lance Armstrong and Livestrong Foundation Rising Again After the Fall using various appropriate tools and frameworks. Harvard Business Review’s case studies involve a central problem that is faced by a particular company. The problem identified involves strategic and managerial implications for the company. Therefore, it is important for readers to critically identify the problem Lance Armstrong and Livestrong Foundation Rising Again After the Fall faces. Moreover, it is also essential to highlight the key stakeholders that are impacted and influenced by the problem identified.

External Environmental Analysis

The external environment holds significant importance for Lance Armstrong and Livestrong Foundation Rising Again After the Fall to ensure that the company is able to respond to all the changes in the macro-environment. This is because Lance Armstrong and Livestrong Foundation Rising Again After the Fall cannot control the factors and thus can directly influence the company's operations (Indris & Primiana, 2015). The external environment of Lance Armstrong and Livestrong Foundation Rising Again After the Fall will be assessed using PESTLE Analysis.

Political

• A stable political environment provides a favorable market growth trend for Lance Armstrong and Livestrong Foundation Rising Again After the Fall.

• It is important for Lance Armstrong and Livestrong Foundation Rising Again After the Fall to analyze the pressure groups, and social environment activists. The company can make close collaborations with these groups to achieve company goals (Wang, Wang, & Shi, 2022).

• High restrictions on trade and high levels of taxes can contribute to the complex business environment for Lance Armstrong and Livestrong Foundation Rising Again After the Fall by impacting imports and exports.

Economic

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can benefit from wide-range opportunities in business growth by operating in developing economies (Munro, 2017).

• High GDP can determine the long-term growth strategies of Lance Armstrong and Livestrong Foundation Rising Again After the Fall, signaling the ability of consumers to spend on more products.

• Higher rates of interests can provide Lance Armstrong and Livestrong Foundation Rising Again After the Fall with more investment opportunities.

• The flexibility in the labor market allows Lance Armstrong and Livestrong Foundation Rising Again After the Fall to take advantage of higher workforce productivity.

Social

• The selection of appropriate demographic segments has allowed Lance Armstrong and Livestrong Foundation Rising Again After the Fall to select the right segments of the market that have high growth potential.

• The research on gender roles has helped Lance Armstrong and Livestrong Foundation Rising Again After the Fall to develop and align communication as well as marketing strategies accordingly.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has been successful in understanding the norms and cultures of different countries by developing local teams and partnerships (Hueske, Endrikat, & Guenther, 2015).

Technological

• The adoption of innovative marketing techniques that involves communication technologies has allowed Lance Armstrong and Livestrong Foundation Rising Again After the Fall to collaborate successfully with consumers.

• The company has stayed ahead in the market, and can significantly increase its market share by placing its major focus on emerging technologies (Akpoviroro & Owotutu, 2018).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall should maximize its profits by investing in disruptive technologies.

Environmental

• It is crucial for Lance Armstrong and Livestrong Foundation Rising Again After the Fall to adopt effective waste management practices to reduce environmental pollution (J. K, W. J, & D., 2016).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall should adopt eco-friendly products to establish better relationships with the stakeholders.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can take advantage of subsidies offered in renewable technologies to achieve the long-term goal of sustainability.

Legal

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall should follow proper laws concerning employee health and safety, and anti-discrimination laws to effectively develop HRM.

• Consumer protection laws are also important for Lance Armstrong and Livestrong Foundation Rising Again After the Fall as it involves the consumer protection from fraudulent marketing (S. Samusenko, S. Plaskova, & A. Prodanova, 2020).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can gain a competitive advantage, and can position itself strongly in the market by protecting intellectual property laws.

Porter’s Five Forces Analysis

Threat of New Entrants

• It is difficult to achieve economies of scale in Lance Armstrong and Livestrong Foundation Rising Again After the Fall’s industry, making it a weaker force for new entrants.

• There are high capital requirements in the industry. This makes it difficult for new businesses to set up their companies, and compete against Lance Armstrong and Livestrong Foundation Rising Again After the Fall.

• The industry has a strong product differentiation, and heavy investment is needed for customer acquisition. Thus, Lance Armstrong and Livestrong Foundation Rising Again After the Fall can focus on innovation to differentiate itself from its competitors (H. Th. Bruijl, 2018).

• There are strict legal requirements to join the industry in which Lance Armstrong and Livestrong Foundation Rising Again After the Fall operates, making it difficult for new entrants to enter the market.

Bargaining Power of Suppliers

• The bargaining power of suppliers in the industry is weak.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall operates in an industry with a higher number of suppliers. This means that suppliers do not have much control over their prices.

• Standardized products that have low switching costs are provided by suppliers allowing buyers like Lance Armstrong and Livestrong Foundation Rising Again After the Fall to easily switch their suppliers (Fabbri & F.Klapper, 2016).

• Raw materials can be purchased at lower prices by Lance Armstrong and Livestrong Foundation Rising Again After the Fall. The company can also switch suppliers for more reasonable pricing.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can benefit from a variety of suppliers as it can have multiple suppliers for its various geographical areas (Cho, Ke, & Han, 2019).

Bargaining Power of Buyers

• The bargaining power of buyers in the Lance Armstrong and Livestrong Foundation Rising Again After the Fall industry is weak.

• There is a high product differentiation in the industry, making it difficult for buyers to switch to alternative firms.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can come with differentiated and innovative products to attract more buyers of the industry (Zhao, Zuo, & Wu, 2016).

• Buyers of this industry has low incomes. This means they prefer to purchase items at lower prices, making them more price sensitive. Organizations like Lance Armstrong and Livestrong Foundation Rising Again After the Fall can offer lower prices to attract customers.

Threat of Substitute Products or Services

• There are few substitute products available in the industry in which Lance Armstrong and Livestrong Foundation Rising Again After the Fall operates.

• Expensive substitutes are available in the industry of Lance Armstrong and Livestrong Foundation Rising Again After the Fall, making it difficult for buyers to switch to those substitutes (Aithal, 2016).

Rivalry Among Existing Firms

• The rivalry among existing firms is moderate to weak.

• There are few competitors in the industry in which Lance Armstrong and Livestrong Foundation Rising Again After the Fall operates.

• A large market share is enjoyed by fewer firms in the industry. This means that more competitive actions will be made to become leaders in the market (Seema, 2016).

• The industry in which Lance Armstrong and Livestrong Foundation Rising Again After the Fall operates has highly differentiated products, making it difficult for companies to win each other customers.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can focus on making more differentiated products to gain a strong competitive edge in the market (Zhao, Zuo, & Wu, 2016).

Internal Environmental Analysis

Lance Armstrong and Livestrong Foundation Rising Again After the Fall can use internal environmental analysis to identify and evaluate the competitive positioning of a company in the business environment. This involves conducting a SWOT Analysis that can help Lance Armstrong and Livestrong Foundation Rising Again After the Fall to identify the company’s internal strengths, weaknesses, opportunities, and threats (Halmaghi, Iancue, & Băcilă, 2017).

SWOT Analysis

Strengths

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has a strong distribution network that has allowed it to make its products available to large customers within the given timeframe.

• A strong presence on social media platforms has allowed Lance Armstrong and Livestrong Foundation Rising Again After the Fall to have a high level of customer engagement (Rizaldi, 2015).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has been successful in building a large product portfolio, so unique and distinctive products can be offered to consumers.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has a strong brand image in the market.

• A low-cost structure of Lance Armstrong and Livestrong Foundation Rising Again After the Fall has allowed it to manufacture products at lower costs, so they become affordable for consumers to purchase.

• The financial position of Lance Armstrong and Livestrong Foundation Rising Again After the Fall is strong as the company has generated higher profits over the past years (Phadermrod, M.Crowder, & B.Wills, 2019).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has invested in the training and development of its employees to keep them motivates, leading to higher efficiency and productivity.

Weaknesses

• The expenditure of Lance Armstrong and Livestrong Foundation Rising Again After the Fall on its research and development is comparatively less to other competitors of the market.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall uses a centralized decision-making process that takes time and reduces operational efficiency (Ahmadi, Dileepan, & K. Wheatley, 2016).

• There are high rental costs because Lance Armstrong and Livestrong Foundation Rising Again After the Fall operates on more of the rental properties rather than purchasing them.

• There is no workforce diversification in Lance Armstrong and Livestrong Foundation Rising Again After the Fall. This makes it difficult for the employees to adjust with the different workers who belong to different backgrounds.

Opportunities

• Since the online shopping has increased significantly, Lance Armstrong and Livestrong Foundation Rising Again After the Fall can take it as an opportunity to expand its online presence.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can make use of social media platforms to market its products, with more customers interactions.

• Due to more technological developments, Lance Armstrong and Livestrong Foundation Rising Again After the Fall can make its operations more automated so that overall company costs can be reduced (Ahmadi, Dileepan, & K. Wheatley, 2016).

• Globalization provides an opportunity to Lance Armstrong and Livestrong Foundation Rising Again After the Fall to expand its operations in multiple countries.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can enter in a niche market and sell distinctive products to gain a competitive advantage.

• The increase in the demand of environmentally friendly goods, Lance Armstrong and Livestrong Foundation Rising Again After the Fall, can place its major focus on making such products (E.Quezada, A.Reinao, & I.Palominos, 2019).

Threats

• In recent times, there has been an increase in the bargaining power of suppliers, making it difficult for Lance Armstrong and Livestrong Foundation Rising Again After the Fall to buy raw materials at lower costs.

• Numerous players are entering the industry, posing a major threat to Lance Armstrong and Livestrong Foundation Rising Again After the Fall.

• There has been constant pressure on Lance Armstrong and Livestrong Foundation Rising Again After the Fall to conduct frequent research to understand the changing customer tastes and preferences (Kolbina, 2015).

• Technological advancements require workforce training. This adds to the costs of Lance Armstrong and Livestrong Foundation Rising Again After the Fall.

VRIO Analysis

Lance Armstrong and Livestrong Foundation Rising Again After the Fall uses VRIO Analysis to assess and evaluate the company resources to determine the competitiveness, and strategic advantage.

Valuable

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has a strong brand image and engages in corporate social responsibility.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has a high brand recognition because of the quality of products it offers to its customers (Ariyani & Daryanto, 2018).

• The distribution system of Lance Armstrong and Livestrong Foundation Rising Again After the Fall is valued all round the world. The company has been able to successfully establish strong relationships with its suppliers.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall focuses on continuous innovation in its business. The company has expanded this innovation in its multiple functional areas.

• There are potential growth opportunities in the market, and Lance Armstrong and Livestrong Foundation Rising Again After the Fall has been able to penetrate the market through its ability to raise large funds.

Rare

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall operates globally. This global presence has allowed the company to increase its customer base (Miethlich & G. Oldenburg, 2019).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has an organizational culture that promotes more teamwork, innovation, and creativity among its employees, that leads to a competitive advantage.

• Since Lance Armstrong and Livestrong Foundation Rising Again After the Fall has a global presence, it allows the company to easily adapt to different cultures, norms and values.

• The risk-taking ability of Lance Armstrong and Livestrong Foundation Rising Again After the Fall is strong. This provides more opportunities to the company to penetrate different markets.

Inimitable

• The inimitable resource for Lance Armstrong and Livestrong Foundation Rising Again After the Fall is its high-quality products. These products have allowed consumers to make repeat purchases.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall operates through multiple locations of stores in different companies, allowing easy access to products.

• Strong marketing communications have been used by Lance Armstrong and Livestrong Foundation Rising Again After the Fall to attract more customers.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has been using integrated technology that has allowed it to offer competitive pricing to its customers (Ariwibowo, Saputro, & Haryanto, 2021).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall maintains an excellent customer service that has enabled it to have a high brand engagement.

Organization

• Strong financial position has allowed Lance Armstrong and Livestrong Foundation Rising Again After the Fall to explore more product development opportunities.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall is successfully maintaining the efficiency and effectiveness of its business operations with the help of more integrated and advanced technology.

• Employees are given both in-house and off-the-job training opportunities by Lance Armstrong and Livestrong Foundation Rising Again After the Fall that allow more skills development (Adnan, Abdulhamid, & Sohail, 2018).

• The strong value chain and distribution network has enabled Lance Armstrong and Livestrong Foundation Rising Again After the Fall to increase its revenue through the sale of its products.

Marketing Mix

Marketing Mix is needed by Lance Armstrong and Livestrong Foundation Rising Again After the Fall to formulate effective strategies to achieve the company objectives.

Product

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has five product categories. Each of these categories has a product line that involves more variety of products (Išoraitė, 2016).

• Highly differentiated products are offered by Lance Armstrong and Livestrong Foundation Rising Again After the Fall to its customers. These distinctive products are not easily available at competitors.

• The products of Lance Armstrong and Livestrong Foundation Rising Again After the Fall are of higher quality, and thus, customers pay more prices for these products.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall designs products with traditional designs giving customers more product variety.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall offers multiple sizes for its every product to make it easy for its customers to select the right product.

• Warranty and same-day delivery option if also provided by Lance Armstrong and Livestrong Foundation Rising Again After the Fall to its customers.

Price

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall follows a competitive pricing strategy.

• To attract more customers, bundle pricing has also been used by the company.

• Little higher prices are charged for products that are sold online because of the delivery costs (Thabit & Raewf, 2018).

• Optional product pricing strategy is also adopted by Lance Armstrong and Livestrong Foundation Rising Again After the Fall for some of its products, such as a base product is offered for a certain price, and there are separate prices for its accessories.

• Regular promotional prices are also offered by Lance Armstrong and Livestrong Foundation Rising Again After the Fall to its customers.

Place

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall uses two channels for its product distribution. This includes online selling and through own stores.

• There are more than multiple stores owned by Lance Armstrong and Livestrong Foundation Rising Again After the Fall globally. This ensures easy product availability to customers (Pogorelova, Yakhneeva, & Agafonova, 2016).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has partnered with delivery service companies to distribute its products effectively to consumers.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has also adopted an omni-channel distribution system.

Promotion

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall uses a traditional promotional strategy that involves TV advertisements (Fan, Y.K.Lau, & Zhao, 2015).

• Social media advertisements are also adopted by Lance Armstrong and Livestrong Foundation Rising Again After the Fall to increase brand awareness.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall takes part in various events and exhibitions as a way of promoting its products.

• Large sales force is used to provide the customers with a more personal experience.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall also makes use of influencer marketing to increase the demand for its products.

• Regular content and deals are posted on the social media pages of Lance Armstrong and Livestrong Foundation Rising Again After the Fall to attract and retain customers.

Value Chain Analysis

Lance Armstrong and Livestrong Foundation Rising Again After the Fall can use Value Chain Analysis to identify and assess inter-relationships as well as interdependencies.

Primary Activities

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall’s primary activities involves the production and selling of products to the final consumers (Mintz, J.Gilbride, & Lenk, 2021).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has a strong relationship with the suppliers. This ensures that the product is received, stored, and distributed in a timely manner.

• Operational activities of Lance Armstrong and Livestrong Foundation Rising Again After the Fall are effectively aligned.

• For inbound logistics, after the arrival of raw material, the company processes it to manufacture the final product (Hasan, Nekmahmud, & Yajuan, 2019).

• In terms of outbound logistics, Lance Armstrong and Livestrong Foundation Rising Again After the Fall has been able to set up optimal costs as well as efficient delivery processes to deliver the product on time.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall invests in its sales and marketing activities to build relationships with customers.

• Marketing funnel approach is used by Lance Armstrong and Livestrong Foundation Rising Again After the Fall to effectively devise and build sales and marketing activities.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall offers both pre-sale and post-sales services to its customers.

Secondary Activities

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has an effective infrastructure that has allowed the company to successfully optimize its value chain.

• The competitive pressure in terms of employee skill development, motivation, and commitment is reduced as Lance Armstrong and Livestrong Foundation Rising Again After the Fall has developed a strong HRM (Linkov, Carluccio, Pritchard, & Bhreasail, 2020).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall uses a cost minimization approach to reduce its costs by analyzing the costs associated with training and hiring the employees.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall has been using integrated technology in its value chain activities. This includes technological customer support, research and data analytics concerning product design, and automated software.

• The procurement activities of Lance Armstrong and Livestrong Foundation Rising Again After the Fall are effectively optimized with its inbound, outbound, and operational activities (Maheswari, Yudoko, & Adhiutama, 2019).

Market Penetration Strategies

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can increase the capacity of its production so it can reach more of the customers in its existing market.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can focus on controlling the overhead costs so that it can offer competitive pricing that can attract customers of the market (Dawes, 2018).

• Investments can be made by Lance Armstrong and Livestrong Foundation Rising Again After the Fall in marketing and sales activities to increase the chances of successful market penetration.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can design and develop a content that increases customer engagement within a particular marketplace.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can assess and identify more enhanced distribution networks (Radpour, Mondal, & Kumar, 2017).

• Improved distribution systems and supply chains can improve the product accessibility for the customers, making it easier for Lance Armstrong and Livestrong Foundation Rising Again After the Fall to penetrate the market.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can adopt price cuts in its products to compete in the market. This will give a company a competitive edge over its competitors.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can plan strategies where it can focus on acquiring the leading players of the market. Such acquisitions will give the company an opportunity to reach more customer segments.

• Strategic partnerships and joint ventures agreements can be signed by Lance Armstrong and Livestrong Foundation Rising Again After the Fall to mitigate the risk factors, and to gain customer groups of the market.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can come up with new and innovative features in its already existing product for the market (Daouda, Barth, & T. M. Ingenbleek, 2019).

Market Development Strategies

• It is important for Lance Armstrong and Livestrong Foundation Rising Again After the Fall to invest in the research and development department so potential markets can be identified (Hilman, Bohari, & Abdullah, 2018).

• Regional expansion strategy can be used by Lance Armstrong and Livestrong Foundation Rising Again After the Fall for growth purposes. This will also take into consideration the cultural differences.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall should also consider to expand its business operations in the international market. This will allow access to a larger customer base.

• New customer groups and segments should be explored by Lance Armstrong and Livestrong Foundation Rising Again After the Fall.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall should also invest in brand-building activities as it will give an opportunity to reach more potential customers (C. Koks & M. Kilika, 2016).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall should consider the market education in terms of its product. The company can significantly increase its sales by giving product awareness to new segments.

Product Development Strategies

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can come up with new improvements and modifications in the existing products to attract the market.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall should undergo the NPD process, so the company is able to assess and identify new points for its customers.

• Regular investments in the research and development will help Lance Armstrong and Livestrong Foundation Rising Again After the Fall to develop something new and innovative that can give a competitive advantage (Kalogiannidis & Mavratzas, 2020).

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can develop new products by getting into more strategic partnerships.

Diversification Strategies

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can adopt vertical diversification to develop business. This can be done by adding more products to the existing portfolio (Kalogiannidis & Mavratzas, 2020).

• Horizontal integration can also be adopted by Lance Armstrong and Livestrong Foundation Rising Again After the Fall, where the company can enter into a completely new product development phase that does not exist in the current product line.

• Lance Armstrong and Livestrong Foundation Rising Again After the Fall can also consider to conglomerate by starting a different business.

Conclusion

Based on all the models and frameworks discussed above, it is concluded that Lance Armstrong and Livestrong Foundation Rising Again After the Fall should focus on widening the existing product portfolio. Moreover, the psychological pricing strategy can be adopted. Lance Armstrong and Livestrong Foundation Rising Again After the Fall should also maintain close relationships with its suppliers to benefit from lower prices. Similarly, Lance Armstrong and Livestrong Foundation Rising Again After the Fall should develop more integrated outbound logistics for its perishable items. It is also important to continue producing quality and innovative products, so Lance Armstrong and Livestrong Foundation Rising Again After the Fall is less affected by the new emerging competition in the industry.

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