Develop Marketing Streategies Essay
Develop Marketing Streategies
The company is named Houzit Pty Ltd, it is a retailer for home wares. Houzit is a chain of homewares stores in Brisbane that specializes in bathroom fittings, bedroom fittings, mirrors and decorative items.. It is a growing business. It has 15 stores in Brisbane area, with all stores being managed and coordinated from their head office in Milton. It has 150 staff members. The analysis of each of the aspect of the company overview is provided under the following heads. Strategic direction and Organizational objectives
The strategic directions of Houzit can be ascertained from the company’s vision and mission.
Houzit is a national retail brand that is satisfying the home makers’ needs by providing them unique, wide variety of quality homeware products with an easy payment procedure.
The mission of the company asserts that the organization is planning to move towards enlargement of its business by ensuring its presence in all the major cities of Australian market by the year 2020.
The basic focus of the company is on three parameters: Quality, Unique items and Selection In this post modern era every organization should direct their marketing strategies in way that the strategic goals could be achieved smoothly and efficiently. Strategic direction is a course of action that leads to the attainment of the set goals of a company. It is also the vision of the company that is necessary for success in giving direction for employees to follow in order to achieve set goals. Setting strategic direction involves finding a target direction and committing to get there. It begins with developing a clear vision for a company thereby increasing its competitive advantage.
Mission and vision of a firm
Mission is what the firm is, whereas vision is a forward-looking view of what the organization wants to become. Mission statement may include a vision, business definition and values and/or statements about an organization’s purpose. >By 2020,Houzit will have a significant retail presence in home wares in every Australian capital city >Starting with 15 stores in the Great Brisbane area and growing to 100 Australia wide. >Houzit will be a national retail brand, catering to the needs of home makers with a range of unique, high quality home wares made accessible to all through our easy to manage payment plan.
Therefore some marketing opportunities have to be analyzed in reaching its goals, so the manager has to provide brief summary evaluating two alternatives, including the benefits and risks associated with each option and finally recommending for the opportunity most likely to produce results.
Here I outline the following marketing objectives:
>To bring an annual sales increase of $ 5 million by moving the sales figures from $15 million per year to %20 million per year during the next three years period.
>To enhance the list of loyal customers from 10,000 to 15,000
>Considering Brisbane as a potential market, brand recognition need to be established so that one out of every 3 people will recognise the Houzit brand in a random survey that is conducted in 18 months’ time. Current size, capabilities and resources of the organization
The size of the organization occupies 1,000-1,500m2.
Capabilities: Each of the Houzit store has a capacity to generate the following sales breakup
Bathroom fittings: 30%
Bedrooms furnishings: 35%
Mirrors and decorative items: 20%
Lighting fixtures: 15%
The organization is able to manage a high customer loyalty among repeat customers as it is a valuable assets for any organization. Moreover they can exceed competitors by offering in quality, range and accessibility.
RESOURCES OF THE ORGANIZATION
Houzit has the valuable assest ,that is human resources ,15-20 fulltime employees along with number of casual workers .Staffs works are excellent with highly skilled and knowledgeable about home wares.
Especially for a commercial urban district Houzit possesses a great retail space that is bright, functional and efficient.
Gaps between the objectives and the current capabilities and resources
Gap analysis serves as the tool that will help to decide between multiple marketing options (Precision Group, 2009). The objectives that are set by Houzit are difficult to be achieved with the current capabilities and resources. It is because company has limited number of employees. In addition to it, the focus with which company operates to have its stores as bright and comfortable for shopping is not in alignment with the legislations that are put forth by the government. In this manner Houzit will have a gap between the objectives set for the company and the current strategies, capabilities and resources of the company.
With the help of external environment analysis, a company will be able to develop a list of opportunities and threats that are provided by the environmental factors (David, 2006). This section of task 1 highlights the two major opportunities for Houzit along with their analysis.
Two marketing opportunities that meet the objectives and the evaluation of risk and benefits of each opportunity are: * A growing market in high growth area with a significant percentage of the target market still not aware of Houzit’s offer.
* Increase sales opportunities outside of our target area-greater Brisbane.
Houzit’s marketing mix is comprised of these following approaches to pricing, distribution, advertising and promotion, and customer service.