More handpicked essays just for you.
SWOT PESTLE Porter’s Five Forces Analysis business strategy
Porter’s five forces model is used to analyze the competitive situation in an industry
Porter's five force model harvard business review
Don’t take our word for it - see why 10 million students trust us with their essay needs.
TABLE of CONTENTS Introduction - Page 3 Where is Harrods? Marketing Environment Analysis: PESTLE Analysis - Page 4 Porter’s 5 Forces Modes – Page SWOT Analysis - Page 8 Where does Harrods want to be? Mission Statement, Aims and Objectives - Page 9 STP - Page 10 How is Harrods going to get there? Marketing Mix: The 4Ps - Page 13 The 3Ps - Page 16 How well did Harrods do? Control and Evaluation - Page 18 Conclusion - Page 20 INTRODUCTION Officially founded in 1834, Harrods is today recognised as one of London’s landmark. It’s one of the most successful and luxurious department stores in London. With the motto “Omnia Omnibus Ubique” (All things for all people, everywhere), Harrods makes sure to carry the title of exclusiveness. This report will discuss about how external environment affects Harrods’s modus-operandi and the appropriate marketing strategies that they have to apply in the future. I- Marketing environment analysis: where is Harrods? PESTLE Analysis - by Ahmad Gadafi Bin Zailudin(L016MRMR0214) – 869 words Political The government plays a vital role in making business policies. For example, the UK government in 2014 budget the government has introduced a rise of 40% in the tax. As a consequence, the lending interest rate falls but the taxation is still high. Since 2010, the growth of GDP in UK was at -11% and by 2013, the GDP growth was at -6.6%, this is a good indication though it is at slowest rate. The government forecasts that by 2019, the GDP will rise of 0.2%. The consumer’s behaviour towards this economic recession will change and therefore affect the retail industry. Harrods will need to spend more money and investment in order to float or maintain business sustai... ... middle of paper ... ...e year to February 2, 2013, taking revenues to a record £716.3m. During the 53-week period, Harrods grew total profit after tax to £632m, up from £89.5m last year, with a major boost from the sale of trademarks for £541m. A customer satisfaction is another method of evaluating business performance. The brand Harrods earned trust of millions across the globe and numbers verify this fact. Up to 300.000 people visit London store on peak days and majority of them non-Britain visitors. CONCLUSION It is more or less predictable that Harrods will have a long-lasting success in the retail industry as some people look for the high standard products. Despite the different everyday challenges that Harrods has to face, Harrods is still looking forward to an expansion while maintaining a strong relationship with their customers through different kinds of means. . .
Provides a unique atmosphere - Their large open stores, packed with designer brands, gives an elegant feeling, with light colored walls that can’t be found at your local drug store. Also, with a low-pressure sales strategy they provide a very relaxed shopping experience.
...er that same period. This may indicate that consumers are going online to make the purchases they once made at department stores.
With the rise in digital downloads such as on iTunes, HMV lost 36million in August 2012 due to streaming online and downloading music online, music and DVD sales were down by 20% in the run up to Christmas 2012. (Wood, Z. Milmo, D. 2011) HMV’s market share in January 2013 had fallen to 17% a low figure compared to Amazons which was 23% at this time. (Lawson, A 2013). With a falling market share a company begins to lose sight of the market and drastic changed need to be made to meet customer demands and to keep ahead of rivals.
Fiscal responsibility is an important part of stability and the government must focus on maintaining the economic stability. As we all know, Government dept can quickly become a burden on the economy and weaken it. Macroeconomic policies change credibility of the government and strengthen political institutions. It is very important that our economy has credibility and stability because it’s vital to us Americans long term investment decisions that allow the US economy to grow. Government provide stability by ensuring to maintain stability of currency, enforce-defend property rights, and provide oversight that assures private citizens that their transaction partners in marketplaces are accountable.
The competitive rivalry is high as the industry is comprises of many clothing retailers. For instance, ASDA’s brands George and Matalan, which provide not only quality garments but also sell them in a low price. Primark may lose a significant number of customers due to the intense
positive as well as negative effects on business in America. That is what I am going to be looking at for this essay. The government has played a vital part in issues such as the excessive power that businesses have had. The government has also helped get rid of
This report comprises of the explanation of two different companies working in different market fields, the two companies I’ve chosen are Primark and Samsung I am going to write about the influence of the 4vs which are the volume of output, variation in demand for output, visibility of production, and variety of output. I am also going to look at the performance objectives in each of the companies. Example, for a given year and how they are able to reach their objectives, and also the effect on the cost efficiency of the operations.
Selfridges & Co. is a chain of high end department stores formed in 1906 and officially founded in 15 March 1909 by Harry Gordon Selfridge, in London. Taking place on the "dead end" of Oxford Street, the neoclassical building has showcased thrilling and brand new trends since its opening. During all these years, the store has been managed by a number of different groups, striving to keep the spirit of innovation firstly deployed by its founder. Harry Gordon, as a good entrepreneur, invested about £400,000 in a business opportunity never noticed before. In 1906, while spending his holidays in London, he noticed the absence of department stores adapted to the latest selling ideas used in America.
However a continuous rise in globalisation could be presented as a challenge for Sainsbury’s. One of the biggest economic factors is the rising costs of fuel which will impact right through the supply chain of Sainsbury’s leading to increase of its products. Social factors to consider due to increase in trend in healthy foods, so for Sainsbury’s to keep up with trends, it would be something to consider. The use of technology for great retailers such as Sainsbury’s is an important factor, persistent upgrading of technologies such as self-checkouts, computerised stock control etc., means less room for human errors. Concerning environmental, reducing carbon footprint is emphasised to big companies. “Companies like Sainsbury’s can contribute a lot of impact on the environment. To do this Sainsbury’s would have to put in more towards the green issue” (UK Essay 2014) Legally, Sainsbury’s would have to make sure to follow policies concerning label and packaging which could be an added financial load to Sainsbury’s. Sainsbury’s should act on its threats, to achieve its goals and
Sports Directs current strategy has proven successful during the 2008 global financial crises. Its discount culture has provided them with the ability to develop a low-cost competitive advantage. Through effective decision-making and superior efficiencies, they have emerged as the UK’s leading sports retailer, at the expense of former rival JJB. However, as the economy begins to recover, in order to sustain their competitive position Sports Direct must evolve to cater to an emerging consumer trend.
According to the annual report of Mark& Spencer, they has been set up 776 stores in the Uk and aim to keep selling high quality ,great value food and staying ahead in womenswear, lingerie and menswear. Moreover, M&S has attributed the high level of trust on the high street, and has also concentrated on ensuring their corporate governance is meaningful, relevant and underpin their decision-marking with high quality in all areas of strategy, performance, responsibility and accountability. Their collective and individual performance review is constructed by honest and constructive feedback to make the border play the biggest role in the boardrom. The goverance framework is also published on their website. Therefore, M&S's shareholders and stakeholders can easily find what standards the board of M&S set for themself.
Generally speaking governments intervene in the market for two main reasons: "social efficiency and equity". [1] One does not expect to see a government intervene in the economy to favor a firm, or because the government would profit from such an intervention in the way a firm sees profit (except maybe voters positive perception of the intervention).
Tesco is one of the biggest grocery retailors in the world, it is one of the top five stores, it was founded in early nineties in UK, and now it is well known company around the global and very famous because of their successful strategies in marketing and how they manage any problem that they are facing. However, in recent day Tesco are facing some problems that may threat their career life, and make them loose their market position. This report will cover these problems, how the competitors are doing to take Tesco’s place, and what Tesco are doing to overcome these problems.
Introduction The purpose of this report is to undertake financial analysis of the position of the three major supermarket chains (Tesco plc, Morrison plc and Sainsbury plc) in the UK, using the financial tools such as Horizontal and Vertical Analysis and Ratio Analysis. The calculations done are considering the figures from the income statement and balance sheet of these three companies for the last 2 years (2008 & 2007). Doing these calculations is an effort to find out the current position and if any forecast on their performance. Tesco Plc *Interpreting the Horizontal and Vertical *Analysis The balance sheet’s horizontal analysis reveals the first worrying statistics about the company- the fact that stock level has increased by 25.84% in the year, even though net assets have increased by only 12.59%. The vertical analysis of the balance sheet again highlights the increase in amount of stock held by the company at the end of 2008 and increase in current assets. Interpreting the Ratio Analysis By looking at the ROCE* ratio it is clear that the business has not generated any higher return in the period 2007-2008. Though there is a marginal decrease in the returns (0.14% from 0.16%), however when compared with returns of other competitors Tesco plc has performed much better. Drop in asset utilisation ratio in the year 2008 indicates that the company did not use its assets efficiently to generate sales. As a result profit margin dropped down to 5.91% in 2008 from 6.21% in the year 2007. The Acid test ratio also doesn’t meet the ‘ideal’ ratio of 1:1. In other words Tesco had only 38p of quickly realisable assets to meet each £1 of current liabilities. Stock turn shows the effect of increased stock at the end of 2008 as it s...
Enterprises need to be efficient and competitive or they lose money, and the government cannot afford to subsidise such losses. And governments anywhere are not very good at running businesses. Whether the private owner is an individual, or a corporation with thousands of shareholders, peoples' own money is at stake, so they have a strong incentive to work night and day to ensure that their enterprise becomes successful and profitable. Government lacks those incentives, so government-managed enterprises fail to perform across the world.