Weaknesses
A limited number of the furniture stores make them difficult to go internationally and limited to the customer come from the surrounding area.
The establishment on the Internet will produce technological challenges.
Ignorance to environment and compliance issues.
Inadequate wood seasoning arrangement
Opportunities
Increase the new channel of distribution.
Growing in number of online users.
New technologies in E-commerce.
Loyalty to premium brands.
Threats
Large number of indirect competitors in the market.
Government regulation.
Economic factors will indirectly affect the purchasing power of the buyers.
Industry is overtaking carpentry which may result in losing of hand carving skills. Marketing Objective
Home Decor Furniture company …show more content…
For example, a Starbuck coffee cost RM 15 but people will go for Starbuck instead of drinking Nescafe at home.The company would not use neither price skimming nor penetration price because this is going to make the company gone loss or break even and people believe that they get what they pay for. If the company break even means that the company would not make any profit. This can lead the company to bankruptcy and major problem.
In addition, the company should calculate costs and estimate the demand to determine the price. For example, the company can produce more on the highly demand products. In others word, the company should reduce production on the low demand products. In order to allow the company to achieve profitable results, the company can collect the information from the feedback of customers to make sure that the company understand what the customer’s needs and demand. In the end, a good relationship with customers, the company can keep the loyalty from …show more content…
To attract potential buyers, company would provide user friendly online interface, friendly customer service, fast delivery service and guaranteed 30 days return service if the product is not satisfied. Customer can through the website straightly purchases the furniture they interest with. For those who spent RM5000 on online purchase will get a chance to win a voucher that is worth RM500 by participating Home Decor Furniture’s lucky draw which held twice a year. Moreover, customer who purchase by online platform would not spend mmuch times walk in to buy the furniture.
6.0 Conclusion
Home Decor Furniture is a good example of successful company that managed to maintain its business with 8 years of experience in the furniture industry. This is really prominent for a furniture industry to achieve until this stages. Home Decor Furniture company had provided delivery service to entire Malaysia, it’s customers came from different states in Malaysia.
Overall, Home Decor Furniture company is a good positioning in its markets and continue to make new improvements and get more achievements not only in local markets but also in international markets. A useful marketing plan would trend a company to global and success, and also reduce the competitor in the
A limited number of the furniture stores make them difficult to go internationally and limited to the customer come from the surrounding area.
The establishment on the Internet will produce technological challenges.
Ignorance to environment and compliance issues.
Inadequate wood seasoning arrangement
Opportunities
Increase the new channel of distribution.
Growing in number of online users.
New technologies in E-commerce.
Loyalty to premium brands.
Threats
Large number of indirect competitors in the market.
Government regulation.
Economic factors will indirectly affect the purchasing power of the buyers.
Industry is overtaking carpentry which may result in losing of hand carving skills. Marketing Objective
Home Decor Furniture company …show more content…
For example, a Starbuck coffee cost RM 15 but people will go for Starbuck instead of drinking Nescafe at home.The company would not use neither price skimming nor penetration price because this is going to make the company gone loss or break even and people believe that they get what they pay for. If the company break even means that the company would not make any profit. This can lead the company to bankruptcy and major problem.
In addition, the company should calculate costs and estimate the demand to determine the price. For example, the company can produce more on the highly demand products. In others word, the company should reduce production on the low demand products. In order to allow the company to achieve profitable results, the company can collect the information from the feedback of customers to make sure that the company understand what the customer’s needs and demand. In the end, a good relationship with customers, the company can keep the loyalty from …show more content…
To attract potential buyers, company would provide user friendly online interface, friendly customer service, fast delivery service and guaranteed 30 days return service if the product is not satisfied. Customer can through the website straightly purchases the furniture they interest with. For those who spent RM5000 on online purchase will get a chance to win a voucher that is worth RM500 by participating Home Decor Furniture’s lucky draw which held twice a year. Moreover, customer who purchase by online platform would not spend mmuch times walk in to buy the furniture.
6.0 Conclusion
Home Decor Furniture is a good example of successful company that managed to maintain its business with 8 years of experience in the furniture industry. This is really prominent for a furniture industry to achieve until this stages. Home Decor Furniture company had provided delivery service to entire Malaysia, it’s customers came from different states in Malaysia.
Overall, Home Decor Furniture company is a good positioning in its markets and continue to make new improvements and get more achievements not only in local markets but also in international markets. A useful marketing plan would trend a company to global and success, and also reduce the competitor in the