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Marketing plan (Harrods) - Research Paper Example

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Marketing plan (Harrods)

The proposed expansion into Qatar market therefore is a step towards achieving more international expansion and geographical diversification. Harrods is facing competition in international market especially in UK where Selfridge is emerging as one of the leading premium retail stores. In order to overcome this threat, it is critical for Harrods to actually expand into other markets and achieve the much needed diversification and risk reduction. The main focus of Harrods in Qatar market will be to replicate its strategy adapted in Qatar and offer the same level of quality services to Qatari market. Following the same pricing strategy, Harrods will be focusing on charging premium prices while at the same time offering the higher of quality. Harrods Mission statement To be the number one department store in the world for luxury branded merchandise, maintaining an unprecedented level of retail standards, expertise and profitability. Through a combination of product, innovation and eccentricity, we aim to provide every customer with a truly unforgettable experience in our quintessentially British environment. Objectives Harrods' motto is 'anything is possible' and, for over 160 years, it has worked as a team to exceed the expectations of our customers. It aspires to be unique; to surprise and to provide exceptional service which ensures every experience is unforgettable. Its passion is about having pride in our brand, what we do and how we do it. Situation analysis SWOT Strength First, Harrods

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has rich history and heritage, with a number of unique traditions. Second, it has magical store experience. Third, it has existing relationship with international designers like Chanel, to ensure that merchandize will also be available in the US. Fourth, they provide many types of services and sell all type of product (accessories, perfumes, make up, toys, male and female and children clothes, foods) in one place that saves time for customers and make them family place. Fifth, it include restaurant to customer get relaxed in it when they fell tired and then complete shopping. Sixth, it has a Spa and beauty center to make massage for customer after finish shopping. Seventh, it provides tax free product that means reduce tax from purchases price. Eighth, it offers discounts vouchers and coupons and holds two sales each year (Winter and Summer). Ninth, it provides shipping service to any country at fix price one product same as shipping price for many products. Finally, it provide discount card that provide you 10% discount of purchase price and you can request the card from the internet or from the counter in the Harrods shop. Weaknesses First, Harrods has huge variety of products and services could be overwhelming to American shoppers. Second, it may be unable to provide as broad and unique a selection as London store due to lack of distribution channels and vendors. Third, it doesn’t has branches in other countries. Fourth, it is very small. Fifth, difficult to have parking in front or near Harrods. Fifth, it doesn’t has advertising or any other type of marketing activity that will double it sales if do advertising and put it in TV’s channels (Arabic and English), newspapers, Internet websites, taxes and buses, and programs that has many viewers. Sixth, the price of product is very expensive and not all type of customers can afford it. Opportunities No one travel to London not gone to see Harrods and buy

Summary

Executive Summary Harrods is the leading department store in the world for luxury and branded merchandise having unprecedented level of quality standards in place. Since its inception, Harrods remained a one store entity with only store situated in London however, the expansion into Qatar Market…
Author : tyrel61
Marketing plan (Harrods) essay example
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