For the past 10 years, NLM has been enhancing its current service by providing more functionality to the customers. Now the time has come to expand the business - to add new services, to enter new markets; which requires considerable amount of investment. .
3.2 Market Segmentation - NLM's business strategy.
Market segmentation strategy focuses on serving niche markets with specific needs. NLM found the niche in the premium freight industry. Daily limits of the premium freights (18,000 pounds) fit well with NLM's existing capabilities. Thus a profitable business was created with only one automaker. By 1999, it had captured $7.3 million in revenues of the $825 million spent each year by automakers and suppliers on premium freight. Despite the immense competition, NLM survived by providing customers a unique and differentiating value added service. Being the first-to-market, NLM is well aware of the competitors. Both the large competitors and online 3rd party logistics may try to seek additional sources of revenues and enter the niche, which NLM has created for itself'.
3.3 The need to grow rapidly?.
Growth is essential for the well being of any business. NLM needs to expand at a rate faster than before because the business is profitable, future profits can be foreseen and competition is starting to change for the worse. But how fast should NLM grow?.
Management should not allow growth at a rate faster than they can control. Explosive growth can create an undesirable solution. More problems can be created than solved , especially in case of NLM, which lacks the management depth required for rapid growth. It may actually destroy the potential of a budding company like NLM. Controlled growth is a growth that is cautious, carefully charted and carried along through careful planning sessions. This slow organic growth will probably work well for NLM. Scott Taylor, will be an ideal man to support this, as he has been doing this for the last 10 years and knows the company well.
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