Hmv’s Troubles Are Only the End of the Beginning Essay

1853 Words Dec 17th, 2011 8 Pages
HMV

HMV’s troubles are only the end of the beginning

(Guardian)

Context Background

Hmv was first established in 1921 and was the most dominant retailer in the music industry but now Hmv is facing its worst downfall in the music industry market due to crisis with the recession and structural changes in the media business. Hmv was known for its brand and was very popular with its sales and profits, consumers were satisfied with their products and price was something they were not really concerned about. Hmv’s competitors vary from a range of online music retailers as well as supermarket retailers, Woolworths and zavvi were the big threats to Hmv but collapsed due to the same problems which are now affecting Hmv.

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Hmv have found it difficult to compete in the market and have been criticised for its high labelled prices compared to online retailers such as Amazon and play.com that also specialise in the same categories selling DVDs, CD’s, games and consoles. This will be quite interesting to observe as Hmv which was once the leading high street retailer now is facing its biggest difficulty to survive in the market.

Research question

This is the investigatable question which will be carried forward

Is there still a chance for Hmv to survive the recession and keep on top of its competitors?

The question above raises many questions in itself to whether Hmv can survive possibly the most worst economic downfall of its time. The question refers to Hmv current position in the market and whether it could make a change from its current status. There could be many ways in which Hmv can survive and there are many reasons to how it can fail so the question asks if there is still a possible chance.

It is quite interesting to see how well Hmv could handle this crisis; many companies face issues such as the recession and as many fail many do succeed depending on how the organization handles the crisis.

The purpose of the

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