Students have prepared a Marketing Plan based on Houzit Home wares based in Brisbane QLD Australia, with Head Office in Milton QLD. Houzit Home wares supply home wars to the marketplace and are looking to expand.
The marketing strategies outlined by the CEO are to obtain:
● Increased sales from $15million per year to $20million 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 recognise our brand in a random survey taken in 18 months’ time.
To accomplish the above listed objectives, they strategies the students have chosen are:
1) Establishing a Joint ...view middle of the document...
By also establishing KPI’s performance can be documented and detailed, enabling Houzit Home wares to establish a detailed summary where they are meeting or exceeding targets and whereby corrective action should be taken. Enabling staff to take a qualified view of their results, and achievements, and documenting for upper management, enables both parties to establish performance based objectives that can be met and exceeded. Ongoing training and performance based bonuses can also establish a greater expectation of results and also exceeding Howzat Home Wares expectations. By establishing all of the above, Howzat Home Wares can both meet and exceed their Marketing objectives, and also by establishing a Joint Venture, penetrate new markets.
Executive Summary 1
Organisational/Marketing objectives 3
SWOT analysis 3
Strategy analysis 5
1- Current profit maximisation 6
2- Market-Share Leadership 6
Implementation analysis 7
Market-Share Leadership 7
Current profit maximisation 7
Value Chain Analysis 8
Partnering with others outside the company 8
Partnering with others inside the company 8
Tactics-to implement the strategies outlined 9
Monitoring plan-including KPIs. 10
Roles and responsibilities 11
Legal and Ethical Requirements 14
Ongoing review and adjustment of tactics 14
Measuring performance 14
Corrective Action 14
The organisational objectives for Houzit Home wares are to:
1. Increase sales from $15million per year to $20million per year in the next three years.
2. Increase our loyalty customers list from 10,000 to 15,000.
3. Establish brand recognition in Brisbane so that at least 1 in 3 people recognise our brand in a random survey taken in 18 months’ time.
In assessing the above objectives, students have prepared a SWOT analysis based on the companies Strengths, Weakness and the opportunities and potential Threats, to the Houzit Home wares.
Based on the Company information, a SWOT Analysis can be concluded as follows:
• Excellent staff who are highly skilled and knowledgeable about home wares. • A limited marketing budget to develop brand awareness due to the lack of critical mass and store cover.
• Great retail space that is bright, functional and efficient for a commercial urban district. • The struggle to continually fund the growing long-term repayment plans taken out by our customers
• High customer loyalty among repeat customers.
• a growing market in a high growth area
• an assortment offerings
• currently 15 stores ● Competition from local independent retailers can drive down prices, as owner operators have lover overhead costs than our staff-run stores.
• A growing market in a high growth area with a significant percentage of the target market still not aware of Houzit’s offer. ●...