Hyland Company manufactures generic products for several major discount chain stores.Robert Hyland,founder and CEO,has always followed a strategy of producing low-cost standard products.Hyland now is facing foreign competitors who offer similar products with higher quality and more features (options)than Hyland's products.Although Hyland still offers the lower prices than its competitors,Hyland's net income has been steadily decreasing over the last three quarters.
Required: What should Hyland do?

Question

Quizplus · Accepted Answer

Feedback: Hyland must focus its strategy on delivering what its customers want and what its customers value.If customers value higher quality,Hyland must take immediate action to improve the quality of its product.If customers desire additional features rather than the standard configuration,Hyland must acquire the flexibility to add desired features to its product.Hyland needs to instruct its sales force to find out exactly what their customers want.

Hyland Company Manufactures Generic Products for Several Major Discount Chain