mgmt

Business model

Market Selection

The market selection that Waterstone Faucets have chosen in the Colombia market is very clever of them, and being able to take on a good risk. The reason why I say that is because, Colombia is barely starting to recover from the horrible inflation that they had and the population is starting to up once again from the past 5 years, but this also means huge potential consumers to gain since Colombia is having less poverty rate in their country, which could be a plus for Waterstone Faucets. By choosing a country that is really known for art and culture, I believe Waterstone Faucets will have a huge chance of succeeding in this type of area with their products of luxurious faucets in this household or businesses.

Mode of Entry

In order for Waterstone Faucets to succeed in a different market that is not very known to them, this company would need to find a good mode of entry strategy to enter the market and help them succeed based on their products and focus in that certain area in Colombia. From throughout our research on Waterstone Faucets that we would found that the best strategy for this company to use is the CAGE framework by using this, they would know a lot of information about Colombia. This will also show where Waterstone Faucets could do their business at like Geographic and start a partnership with high ranking companies such as Deck-O or Corona, who have succeeded in the Colombia market base on their luxury products they have provided for Colombia. From knowing the culture in Colombia will know to limit their work sources of how Colombia likes to be treated because Colombia has a different environment compared to the United States. The economics is also important to base on the politics that is going on in Colombia and should be aware in Colombia and know the regulations. This is why I know the CAGE framework would be a good strategy for Waterstone Faucets.

Value of proposition

Waterstone Faucets is a company that makes luxurious faucets products, and believe that their products can become art towards the household and eliminate the perception for consumers of not believing that faucets can’t be luxurious. By adding this luxurious faucet towards your household or business, it will help them stand out from the rest of the competition. Waterstone Faucets doesn’t believe promoting will not help them stand out, but by partnering with other companies will show their product and influence consumers to want their luxurious product since it so different and antique.

Value of infrastructure

Waterstone Faucets have many options to choose the type of material and designs certain household owners or business is looking for. From so many to choose from it gives the consumers unlimited opportunities to create the luxurious faucets they are looking for and will show their culture based on the country they live at. Waterstone Faucets is a high price company that provides high-quality products towards their consumers with a lifetime warranty for their amazing products if anything went wrong, and can be easily fixed or replace. This shows how much Waterstone Faucets cares for their consumers and to be satisfied with their luxurious faucets.

Global participation Strategy & Organization

From throughout our research that we did on Waterstone Faucets, that their participation is really not that strong, because Waterstone Faucets is only targeting the high-end consumers in Colombia and able to expand their products by involving middle-class consumers in part of their business too. By making partnership in Colombia, this will help Waterstone Faucets to expand in Colombia based on the industry they are focusing on. For example, if they were to partner up with Deck-O then this will help Waterstone Faucets by having more designs in their company since Deck-O is a designer company and very popular in the Colombia market. Also, the same thing with Corona which is a faucet company and has a high knowledge of the locations of high-end consumers, which can help Waterstone Faucets with their products if they do the same for Corona but instead of the United States. By having this kind of opportunities for Waterstone Faucets, this will definitely help them expand their business and succeed in Colombia.

Key Stakeholders

Waterstone faucets is presented with many opportunities from which many stakeholders have their own benefit. According to a study on the purchase of shares it has concluded that the demand is on the rise and experts have forecasted that it will keep growing until 2030. Waterstone investors therefore, could become a key stakeholder which means a huge opportunity to the company since this causes their own investment of relocating to diminish. Within the identified key stakeholders, we can include their customers. As we mentioned earlier, Costa Rica is a place with many retirees from the baby boomers age as residents so these customers become highly important to the company. They would be the most willing to purchase the company’s high-end faucets because many of them reside in luxury homes throughout the country. As part of the primary key stakeholders we also include the most important asset of the company which are their employees. With the possibility of offering services of renovation of kitchens, the employees play the important role of providing the design to the prospective customers with the purpose of them making the investment in the faucets.

Issues	Shareholders	Customers	Employees
Product Safety	2	1	1
Financial Return	1	3	3
Impact on Environment	3	2	2

1. Critical importance to the stakeholder.

2. Somewhat important to the stakeholder.

3. Not Very important to the stakeholder.