Cumberland Entertainment C Excess Cash Case Solution

The Harvard Business Review published a case study that primarily focuses on Cumberland Entertainment C Excess Cash. 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, Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to ensure that the company is able to respond to all the changes in the macro-environment. This is because Cumberland Entertainment C Excess Cash cannot control the factors and thus can directly influence the company's operations (Indris & Primiana, 2015). The external environment of Cumberland Entertainment C Excess Cash will be assessed using PESTLE Analysis.

Political

• A stable political environment provides a favorable market growth trend for Cumberland Entertainment C Excess Cash.

• It is important for Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash by impacting imports and exports.

Economic

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash, signaling the ability of consumers to spend on more products.

• Higher rates of interests can provide Cumberland Entertainment C Excess Cash with more investment opportunities.

• The flexibility in the labor market allows Cumberland Entertainment C Excess Cash to take advantage of higher workforce productivity.

Social

• The selection of appropriate demographic segments has allowed Cumberland Entertainment C Excess Cash to select the right segments of the market that have high growth potential.

• The research on gender roles has helped Cumberland Entertainment C Excess Cash to develop and align communication as well as marketing strategies accordingly.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash 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).

• Cumberland Entertainment C Excess Cash should maximize its profits by investing in disruptive technologies.

Environmental

• It is crucial for Cumberland Entertainment C Excess Cash to adopt effective waste management practices to reduce environmental pollution (J. K, W. J, & D., 2016).

• Cumberland Entertainment C Excess Cash should adopt eco-friendly products to establish better relationships with the stakeholders.

• Cumberland Entertainment C Excess Cash can take advantage of subsidies offered in renewable technologies to achieve the long-term goal of sustainability.

Legal

• Cumberland Entertainment C Excess Cash should follow proper laws concerning employee health and safety, and anti-discrimination laws to effectively develop HRM.

• Consumer protection laws are also important for Cumberland Entertainment C Excess Cash as it involves the consumer protection from fraudulent marketing (S. Samusenko, S. Plaskova, & A. Prodanova, 2020).

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash’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 Cumberland Entertainment C Excess Cash.

• The industry has a strong product differentiation, and heavy investment is needed for customer acquisition. Thus, Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash 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.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to easily switch their suppliers (Fabbri & F.Klapper, 2016).

• Raw materials can be purchased at lower prices by Cumberland Entertainment C Excess Cash. The company can also switch suppliers for more reasonable pricing.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash industry is weak.

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

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash can offer lower prices to attract customers.

Threat of Substitute Products or Services

• There are few substitute products available in the industry in which Cumberland Entertainment C Excess Cash operates.

• Expensive substitutes are available in the industry of Cumberland Entertainment C Excess Cash, 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 Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash operates has highly differentiated products, making it difficult for companies to win each other customers.

• Cumberland Entertainment C Excess Cash can focus on making more differentiated products to gain a strong competitive edge in the market (Zhao, Zuo, & Wu, 2016).

Internal Environmental Analysis

Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to identify the company’s internal strengths, weaknesses, opportunities, and threats (Halmaghi, Iancue, & Băcilă, 2017).

SWOT Analysis

Strengths

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to have a high level of customer engagement (Rizaldi, 2015).

• Cumberland Entertainment C Excess Cash has been successful in building a large product portfolio, so unique and distinctive products can be offered to consumers.

• Cumberland Entertainment C Excess Cash has a strong brand image in the market.

• A low-cost structure of Cumberland Entertainment C Excess Cash has allowed it to manufacture products at lower costs, so they become affordable for consumers to purchase.

• The financial position of Cumberland Entertainment C Excess Cash is strong as the company has generated higher profits over the past years (Phadermrod, M.Crowder, & B.Wills, 2019).

• Cumberland Entertainment C Excess Cash has invested in the training and development of its employees to keep them motivates, leading to higher efficiency and productivity.

Weaknesses

• The expenditure of Cumberland Entertainment C Excess Cash on its research and development is comparatively less to other competitors of the market.

• Cumberland Entertainment C Excess Cash uses a centralized decision-making process that takes time and reduces operational efficiency (Ahmadi, Dileepan, & K. Wheatley, 2016).

• There are high rental costs because Cumberland Entertainment C Excess Cash operates on more of the rental properties rather than purchasing them.

• There is no workforce diversification in Cumberland Entertainment C Excess Cash. 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, Cumberland Entertainment C Excess Cash can take it as an opportunity to expand its online presence.

• Cumberland Entertainment C Excess Cash can make use of social media platforms to market its products, with more customers interactions.

• Due to more technological developments, Cumberland Entertainment C Excess Cash can make its operations more automated so that overall company costs can be reduced (Ahmadi, Dileepan, & K. Wheatley, 2016).

• Globalization provides an opportunity to Cumberland Entertainment C Excess Cash to expand its operations in multiple countries.

• Cumberland Entertainment C Excess Cash can enter in a niche market and sell distinctive products to gain a competitive advantage.

• The increase in the demand of environmentally friendly goods, Cumberland Entertainment C Excess Cash, 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 Cumberland Entertainment C Excess Cash to buy raw materials at lower costs.

• Numerous players are entering the industry, posing a major threat to Cumberland Entertainment C Excess Cash.

• There has been constant pressure on Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash.

VRIO Analysis

Cumberland Entertainment C Excess Cash uses VRIO Analysis to assess and evaluate the company resources to determine the competitiveness, and strategic advantage.

Valuable

• Cumberland Entertainment C Excess Cash has a strong brand image and engages in corporate social responsibility.

• Cumberland Entertainment C Excess Cash has a high brand recognition because of the quality of products it offers to its customers (Ariyani & Daryanto, 2018).

• The distribution system of Cumberland Entertainment C Excess Cash is valued all round the world. The company has been able to successfully establish strong relationships with its suppliers.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash has been able to penetrate the market through its ability to raise large funds.

Rare

• Cumberland Entertainment C Excess Cash operates globally. This global presence has allowed the company to increase its customer base (Miethlich & G. Oldenburg, 2019).

• Cumberland Entertainment C Excess Cash has an organizational culture that promotes more teamwork, innovation, and creativity among its employees, that leads to a competitive advantage.

• Since Cumberland Entertainment C Excess Cash has a global presence, it allows the company to easily adapt to different cultures, norms and values.

• The risk-taking ability of Cumberland Entertainment C Excess Cash is strong. This provides more opportunities to the company to penetrate different markets.

Inimitable

• The inimitable resource for Cumberland Entertainment C Excess Cash is its high-quality products. These products have allowed consumers to make repeat purchases.

• Cumberland Entertainment C Excess Cash operates through multiple locations of stores in different companies, allowing easy access to products.

• Strong marketing communications have been used by Cumberland Entertainment C Excess Cash to attract more customers.

• Cumberland Entertainment C Excess Cash has been using integrated technology that has allowed it to offer competitive pricing to its customers (Ariwibowo, Saputro, & Haryanto, 2021).

• Cumberland Entertainment C Excess Cash maintains an excellent customer service that has enabled it to have a high brand engagement.

Organization

• Strong financial position has allowed Cumberland Entertainment C Excess Cash to explore more product development opportunities.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash that allow more skills development (Adnan, Abdulhamid, & Sohail, 2018).

• The strong value chain and distribution network has enabled Cumberland Entertainment C Excess Cash to increase its revenue through the sale of its products.

Marketing Mix

Marketing Mix is needed by Cumberland Entertainment C Excess Cash to formulate effective strategies to achieve the company objectives.

Product

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to its customers. These distinctive products are not easily available at competitors.

• The products of Cumberland Entertainment C Excess Cash are of higher quality, and thus, customers pay more prices for these products.

• Cumberland Entertainment C Excess Cash designs products with traditional designs giving customers more product variety.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to its customers.

Price

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to its customers.

Place

• Cumberland Entertainment C Excess Cash uses two channels for its product distribution. This includes online selling and through own stores.

• There are more than multiple stores owned by Cumberland Entertainment C Excess Cash globally. This ensures easy product availability to customers (Pogorelova, Yakhneeva, & Agafonova, 2016).

• Cumberland Entertainment C Excess Cash has partnered with delivery service companies to distribute its products effectively to consumers.

• Cumberland Entertainment C Excess Cash has also adopted an omni-channel distribution system.

Promotion

• Cumberland Entertainment C Excess Cash uses a traditional promotional strategy that involves TV advertisements (Fan, Y.K.Lau, & Zhao, 2015).

• Social media advertisements are also adopted by Cumberland Entertainment C Excess Cash to increase brand awareness.

• Cumberland Entertainment C Excess Cash 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.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to attract and retain customers.

Value Chain Analysis

Cumberland Entertainment C Excess Cash can use Value Chain Analysis to identify and assess inter-relationships as well as interdependencies.

Primary Activities

• Cumberland Entertainment C Excess Cash’s primary activities involves the production and selling of products to the final consumers (Mintz, J.Gilbride, & Lenk, 2021).

• Cumberland Entertainment C Excess Cash has a strong relationship with the suppliers. This ensures that the product is received, stored, and distributed in a timely manner.

• Operational activities of Cumberland Entertainment C Excess Cash 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, Cumberland Entertainment C Excess Cash has been able to set up optimal costs as well as efficient delivery processes to deliver the product on time.

• Cumberland Entertainment C Excess Cash invests in its sales and marketing activities to build relationships with customers.

• Marketing funnel approach is used by Cumberland Entertainment C Excess Cash to effectively devise and build sales and marketing activities.

• Cumberland Entertainment C Excess Cash offers both pre-sale and post-sales services to its customers.

Secondary Activities

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash has developed a strong HRM (Linkov, Carluccio, Pritchard, & Bhreasail, 2020).

• Cumberland Entertainment C Excess Cash uses a cost minimization approach to reduce its costs by analyzing the costs associated with training and hiring the employees.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash are effectively optimized with its inbound, outbound, and operational activities (Maheswari, Yudoko, & Adhiutama, 2019).

Market Penetration Strategies

• Cumberland Entertainment C Excess Cash can increase the capacity of its production so it can reach more of the customers in its existing market.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash in marketing and sales activities to increase the chances of successful market penetration.

• Cumberland Entertainment C Excess Cash can design and develop a content that increases customer engagement within a particular marketplace.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to penetrate the market.

• Cumberland Entertainment C Excess Cash can adopt price cuts in its products to compete in the market. This will give a company a competitive edge over its competitors.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to mitigate the risk factors, and to gain customer groups of the market.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash for growth purposes. This will also take into consideration the cultural differences.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash.

• Cumberland Entertainment C Excess Cash should also invest in brand-building activities as it will give an opportunity to reach more potential customers (C. Koks & M. Kilika, 2016).

• Cumberland Entertainment C Excess Cash 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

• Cumberland Entertainment C Excess Cash can come up with new improvements and modifications in the existing products to attract the market.

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash to develop something new and innovative that can give a competitive advantage (Kalogiannidis & Mavratzas, 2020).

• Cumberland Entertainment C Excess Cash can develop new products by getting into more strategic partnerships.

Diversification Strategies

• Cumberland Entertainment C Excess Cash 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 Cumberland Entertainment C Excess Cash, where the company can enter into a completely new product development phase that does not exist in the current product line.

• Cumberland Entertainment C Excess Cash can also consider to conglomerate by starting a different business.

Conclusion

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

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