Brompton Bicycle Summary TMA 02 Online
The success of the brand has been built on well designed, well-engineered and well made products. Therefore, Brompton should not be afraid to charge a premium price; it just needs to understand the limit of the price premium the brand will carry. Brompton should pride itself for its bikes being handmade in the UK.
Spending hundreds of thousands of pound to expand quickly is a huge risk. It may therefore be beneficial for Brompton to consider growing incrementally. The company should plan to fund target growth of 5/15% per year independently. It is essential that the company appoint a new manager with experience of trade in US and China. Brompton face significant challenges to achieve their business goals and become a sustainable high performing organization. Prior to expanding the business in other regions, it is a must for the company to recognize its own strength and competencies. This will help the company in fulfilling the needs and demands of its customers in different regions. Identifying efficiencies to reduce and control costs will be key to ensure the company meets its target. Business process improvement (BPI) can help Brompton optimize its underlying processes to achieve more efficient results. BPI works by defining the organizations strategy goals, purpose and determining the organization’s customers and aligning the business processes to realize the organization’s goals. The goal of BPI is a radical change in the performance of the organization, rather than a series of incremental changes. BPI will help to introduce process changes to improve the quality of products and services provided to better match customer needs.
Brompton should consider being more aggressive in terms of advertising and publicity in order to create more brand awareness. The company needs to maintain and build on their continuing growth whilst reaching out to new customers. Raising brand awareness will help Brompton plant its business brand, its product