Diversification plans of Prime Technologies

Purpose - The purpose of this paper is to gain an insight about the strategy of diversification adopted by the company, Prime Technology, to increase its profits. The study is made so as to understand the essential aspects which any firm should consider before deciding to venture into a new business so that it may not end in failure. Design/methodology/approach - The case is basically a narration of the business strategy adopted by Prime Technology and the aftermaths of the decisions taken in haste. Findings - The paper showcases the experience of Prime Technology related to the correctness of the decisions taken related to the brand positioning and logistics involved with the import of a perishable commodity. It suggests that proper ground work while importing a product like chocolates plays a vital role in deciding the fate of an importer's fortune. Thus correct timing, packing and marketing are all close knit parameters for success. Practical implications - The case provides traders with an insight in understanding the vitality of the decisions related to logistics and brand positioning while importing a product that is not very popular in the domestic country, and especially if it is a perishable commodity. Originality/value - This case is an original attempt to illustrate the core drivers and capabilities for achieving success in a diverse field. The insights from the case demonstrate the value of proper planning, strategies to companies that are open to expand and recognize the need to focus the use of scarce value-adding resources.