225920160-BSBMKG609A-Task-1-Develop-Mktg-Strategies

Organisational Overview

Vision

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

Mission

By 2020, Houzit will have a significant retail presence in home wares in every Australian capital city, starting with 15 stores in the greater Brisbane area and growing to 100 Australia wide.

Organisational Objectives

Increase sales from $15 million per year to $20 million per year in the next three years.

Increase our loyalty customers list from 10,000 to 15,000

Establish brand recognition in Brisbane so that at least 1 in 3 people recognize our brand in a random survey taken in 18 months time.

SWOT Analysis

Strengths:

Excellent staff who are highly skilled and knowledgeable about home wares

Great retail space that is bright, functional and efficient for a commercial urban district

High customer loyalty among repeat customers

Assortment of offerings that exceed competitors offering in quality, range and accessibility.

Weakness:

A limited marketing budget to develop brand awareness due to the lack of critical mass and store cover.

The struggle to continuity fund the growing long-term repayment plans taken out by our customers.

Opportunities:

A growing market in a high growth area with a significant percentage of the target market still not aware of Houzit’s offer

Increasing sales opportunities outside of our target area – greater Brisbane.

Threats:

Competition from local independent retailers can drive down prices, as owner operators have lover overhead costs than our staff-run stores.

Competition from national chains moving into the Brisbane market

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Competition from national chains moving into the Brisbane market

A slump in the economy reducing customer’s disposable income spent on homewares.

Marketing Opportunities Meeting Objectives

The following are the marketing Opportunities to Meet the Objectives set by the company.

Hozit have easy to manage payment terms and supplies a 3 year guarantee on every item sold

The typical customer have the following character tics :

Sohispticated, shoppers who will drive easy-to-access store,customers require payment plans over extended perion. Renovators and new home builders.

Customers are demanding high quality products, unique items that stand out from mass-produced, low quality items.

Customers also need large selection of choices and they no longer accept a limited selection of homewares.

Tactics for Implementation

The existing customers can be subjected to loyalty programs by giving discount for their long-term association.

The location of stores can be exploited to gain more customers in suburban neighbourhood and urban retail district area.

Work hard to sponsor events to increase its Brand Value in Brisbane area.

References / Sources

Home-ware Trade association – Industry Data

Australian Bureau of Statistics – Greater Brisbane Area

IBIS market Report 2009/10 Home-wares

Home-ware Magazines and Publications International

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