Brooke and RidgeChester CaoSummary The purpose of this report is to describe the life cycle of the business "Brooke and Ridge" and provide recommendations to combat the problem of decline in commercial sales experienced by “Brooke and Ridge”. Ridge” after 10 years of regular service. After developing a good reputation for quality products such as well-stitched and durable swimwear and beachwear, increased competition and pressure from low-cost imports as well as the company's inability to adapting to changing consumer preferences have resulted in lost sales. for Brooke and Ridge. Strategies for the company to enter the post-maturity renewal phase include:1. Cost reduction improving the competitive position of the company2. Implementation of new products3. New advertising strategies in new market areas (new market niches)1. Establishment1.1 Final CharacteristicsSales - Slow moving, possibly irregularProfit - Starts slowly, occasional lossesCosts - Very high fixed costs (Equipment, raw materials and insurance)Customers - Developing (Need positive relationships)Management - Informal (usually by one or two) Figure 11.2 ObjectiveThe main objective of the establishment phase is to maintain and operate within a fast-paced market to ensure a solid foundation for the future growth of the business.1.3 ChallengesThe main concern of a business such as Brooke and Ridge at the start of its inception is undercapitalized with irregular and inconsistent cash flow. flow shortages. This has a negative impact on a company, hindering its ability to develop as well as its performance in a competitive market. Additionally, large financial institutions often do not provide financial assistance due to their caution toward new businesses. With ...... middle of paper ...... market entry can generate new interest among potential customers. New advertising strategies in new market areas (new market niches) The Different advertising in intact market areas may prove advantageous with the possibility of previously unknown interest groups.ConclusionIn conclusion, Brooke and Ridge, who have been identified as being in the "post-mature" phase, will require implementing various strategies to address contemporary challenges of increased competition and low-cost imports. and changing consumer preferences. It would be recommended that the “cost reduction” strategy be implemented initially, providing Brooke and Ridge with financial flexibility and reduced management burdens in anticipation of the change. It would then be wise to create new products and advertise in new markets in order to revitalize the company's prospects and refresh the product line..