Focus on the core business and achieve growth
Adopting more aggressive approach and careful follow the core business and the changes in the external environment will provide the advantage to be prepared to answer any external changes and to have competitive advantage on the market. Expending the product portfolio within the business scope and strengthening market positioning with significant investments in the two departments – sales department and the online non-standard credit provider.
- Online vehicle non-standard credit provider – Expend Satsuma division
As technology rapidly emerges, clients ' requirements are evolving, requesting fast, easy, transparent service, but at the same time well informative. In the near future the payment methods, information flow and service will be provided all through technology. Provident Financial should be able to grow with the innovation development in the industry and provide a digital proposition to its vehicle non-standard credit customers. Moreover, the online non-standard credit provider will help the firm to stay in touch with its current customers; the customer experience will be greater, there will...
... middle of paper ...
...fer from the other. Another factor that is important for the future development of the firm is the regulated continuously employment of new personnel, the new employees can provide to Provident more active operations and modern ideas.
- Innovative product
Working in a industry, which is still classified as a “niche” market, provides the opportunity to Provident to be innovator. New product offering in the non-standard credit card market, can not only help to the firm for sustaining its current market shares, but can decrease the competitors market share, further develop the brand image, attract more customers and achieve greater profit. Kotler, P. (1994) states that “once a company has successfully segmented the market, chosen its target customers, identified their chosen needs, and determined its market positioning than it is better able to develop new products”.
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