Task 1 Devise Strategies and Plan Marketing Tactics
1. Organizational overview
Australian hardware specialises in supplying mirrors, bedroom and bathroom fittings and decorative items. The company focuses on offering high quality items under easy to manage payment plan.
1. Strategic directions
• Increase in sales and gross profit in the next three years
• Increase its retail and online presence in homewares
• Making the customer more loyal so that they don’t switch to other brands
• Maintain high and unmatchable quality of homewares
• Establish brand recognition among the people of Brisbane
• Secure Australian Hardware towards the fulfillment of social and environmental responsibilities
1.1. Organizational objectives
• To place Australian …show more content…
Organization size
The company started its business in 1921 and was known to be Percy’s Home Goods till 1952. The business was re-named Australian Hardware and an expansion program commenced that took the business into all states over the next 10 years. The current number of stores being operated by Australian Hardware is 138, and employs approximately 10,000 people across the country. The company plans to expand its stores at the rate of 2 – 3 stores per year. The company’s services range from bathroom and bedroom fittings to mirror and decorative items (Australia Hardware Business Plan, 2016).
Australian Hardware has enough of resources to meet its capability in serving high quality, innovative products with the aim to make people recognize its value and unique offerings to build a huge customer base. Following are the strengths and weaknesses of Australian Hardware:
Strengths
Resources Strengths
Location specific advantage It offers a location specific advantage to all its customers by offering bright and air conditioned shops. Its stores are located in suburban and commercial areas in order to increase the reach of its …show more content…
Gaps between the objectives and current capabilities and resources
• With the pressure of attaining an eco-friendly environment to achieve sustainability, Australian Hardware has to think of ways to provide bright and comfortable shopping to customers without increasing electricity usage. Thus, there is a gap between its capability to provide user friendly store and its objective to meet social and environmental responsibility at the same time.
• Further, the company’s objective to increase its number of stores to 100 by 2020 and its customer base from 10,000 to 15,000 would become difficult as it faces competition from local independent retailers and offer products at lower prices. Though it stands out in the competition by offering high quality items but certain price sensitive customers may prefer buying from low cost player.
• To maintain high customer loyalty, the company has to bring innovation in its items preferred by new customers at the time of first purchase. Thus, a gap bridges between the objective of high customer loyalty and its capability to target new customers by offering its most preferred items.
2. Opportunities
Marketing opportunities to meet the objectives of Australian Hardware, along with risks and benefits of each
1. Organizational overview
Australian hardware specialises in supplying mirrors, bedroom and bathroom fittings and decorative items. The company focuses on offering high quality items under easy to manage payment plan.
1. Strategic directions
• Increase in sales and gross profit in the next three years
• Increase its retail and online presence in homewares
• Making the customer more loyal so that they don’t switch to other brands
• Maintain high and unmatchable quality of homewares
• Establish brand recognition among the people of Brisbane
• Secure Australian Hardware towards the fulfillment of social and environmental responsibilities
1.1. Organizational objectives
• To place Australian …show more content…
Organization size
The company started its business in 1921 and was known to be Percy’s Home Goods till 1952. The business was re-named Australian Hardware and an expansion program commenced that took the business into all states over the next 10 years. The current number of stores being operated by Australian Hardware is 138, and employs approximately 10,000 people across the country. The company plans to expand its stores at the rate of 2 – 3 stores per year. The company’s services range from bathroom and bedroom fittings to mirror and decorative items (Australia Hardware Business Plan, 2016).
Australian Hardware has enough of resources to meet its capability in serving high quality, innovative products with the aim to make people recognize its value and unique offerings to build a huge customer base. Following are the strengths and weaknesses of Australian Hardware:
Strengths
Resources Strengths
Location specific advantage It offers a location specific advantage to all its customers by offering bright and air conditioned shops. Its stores are located in suburban and commercial areas in order to increase the reach of its …show more content…
Gaps between the objectives and current capabilities and resources
• With the pressure of attaining an eco-friendly environment to achieve sustainability, Australian Hardware has to think of ways to provide bright and comfortable shopping to customers without increasing electricity usage. Thus, there is a gap between its capability to provide user friendly store and its objective to meet social and environmental responsibility at the same time.
• Further, the company’s objective to increase its number of stores to 100 by 2020 and its customer base from 10,000 to 15,000 would become difficult as it faces competition from local independent retailers and offer products at lower prices. Though it stands out in the competition by offering high quality items but certain price sensitive customers may prefer buying from low cost player.
• To maintain high customer loyalty, the company has to bring innovation in its items preferred by new customers at the time of first purchase. Thus, a gap bridges between the objective of high customer loyalty and its capability to target new customers by offering its most preferred items.
2. Opportunities
Marketing opportunities to meet the objectives of Australian Hardware, along with risks and benefits of each