- Looking at practical aspects for a higher capacity of creating a working environment.
- Achieving a positive impact on global acceptance of genetically modified seeds.
- Helping poor farmers to grow crops and feed their local markets.
Untapped markets provide several opportunities to Monsanto. The company needs to enlarge the company’s product portfolio by capitalizing on the untapped markets.
Another important strategy could be by enhancing the company’s diversification. Expanding market share and the overall returns would also allow the company to expand. The expected growth along with the sales and profits have been presented in the table and it shows that the company can improve its current position and one of the main strategies for achieving this could be by capitalizing on the untapped markets.
Blostering public relation efforts:
Public relation is another important strategy that can be used to improve the profits. There are number of benefits of using this strategy and these are:
- Avoid the idea of crippling its brand equity with recurring litigations.
- Be adopted with any form of future Litigation.
- Improve overall image that has been tarnished over a long period with recurring litigations.
- It would allow the company to inform and keep the important stakeholders updated (Public Relations Sydney, 2012).
Investing in social media:
Social media has become an important part of marketing for the firms today. By investing in social media, businesses can achieve great Returns on Investment. There are numerous positives for investing in social media and some of them are:
1. Provide constructive feedback from customers and employees.
2. Provide a better standpoint of product development.
3. Provide a chance to create new products and improve their services (Prööm, 2011)
- Drought Resistant
- Utilizing and using the available resources effectively
- Effort for the development of existing drought-resistant gene seeds
- Untapped Markets
- Capitalizing on the opportunities in the untapped markets
- Doing research and identifying opportunities
- Priorities to be given to growing countries and economies.
- Hiring a social media specialist
- Use facebook as the main social media tool
- Market about the company’s success through social media
- Using twitter and YouTube to promote the company
- Using forums
- Creating an integrated system to integrate all departments.
- Integrating suppliers, customers and other stakeholders.
- Blostering public relation efforts:
- Engage the stakeholders as it will increase the personal relationship with stakeholders
- Feedback from these sites will be integrated in NPD