Splash Corporation faced a variety of challenges during the years of growth (1988 2005) and expansion. Some of the most onerous market challenges affected the stock in its early, developing stages. star of the most apparent challenges the Hortalezas faced during inauguration was coming up with the funds to pay for product materials and product distribution. The sign startup costs for the business were paid for with contributions from friends and family, and actual action of the introductory item included makeshift methods and the use of household instruments, as well as recycled containers for bottling.
Initial Market Challenges faced by Splash:
? Financing/Start-Up funding- the Hortalezas had very limited finances and relied hard on family support and distribution of their products
? Local Competition: lowly back-yard operations which offered products with similar packaging, competition from substitute products
? Developing cheap products attractive to their local consumers in Splashs initial break-out market i.e.
lower to middle income families in the Philippines
? Separation from their initial market niche transitioning into a skin-care product industry leader by offering innovative products that presented product differentiation and remarkable advantages to the global consumer
? Challenges in product development: the cuticle remover production was rudimentary at best, the Hortalezas also needed volume quantities of dimethyl ketone to launch their initial product
? Limited resources/Factors of Production: labor, local suppliers of bare materials for their products (labeling and bottles)
? Limited Cash Cycle: the Hortalezas had to recoup their financial investment funds in the products quickly so they could continue to finance their business venture
Performance Assessment (Products, Strengths, and Market Share)
Contributing Factors (Why and how did they help Splash):...If you require to get a full essay, order it on our website: Orderessay
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