•More source of income.
•Increase market share
2.Should Revlon diversify its operations or develop joint venture with other companies?
•Joint Venture will lessen expense
•Can get ideas from other company
•Other company can provide something that Revlon don’t have
3.What role does innovation play in the strategic planning of Revlon? Which specific type of innovation might Revlon use? Innovations- create new product or new image for company
oHair coloring- use mostly by teenagers and adults
4.What is the role “ branding” should play in future growth strategies of Revlon? •Timeless, Unique and distinct from others.
oConsumer can differentiate which company sells the product oThe brand will be remembered by consumers
oAffect consumer spending
oAffect how consumer sees the company, its products and services
5.How will competitive reactions impact Revlon’s future plans? oChange in Company’s management & decisions (ex. Acquisitions) – make the public or other stakeholders worry oIf public is not satisfied with the outcome- can create a big impact on the succeeding years
6.What is the impact of social trends and economic trends on companies in the cosmetic/skin industry? economic trends:
odecreased sales of the Company’s products ;
oadverse changes in currency
ohigher than expected advertising and promotion expenses
oUse alternative strategies to gain competitive advantage
orecruit and retain skilled people
oEthnic groups / foreigners
oWhether or not they will use the product
oWhether or not it fits their taste/ preferences
oDepends on age and skin color
7.What plans should Revlon develop to pay off long-term debt?
oselling assets or operations or selling division...