StudentShare solutions
Triangle menu

Marketing Strategies of Home Bargains - Essay Example

Not dowloaded yet

Extract of sample
Marketing Strategies of Home Bargains

Along with the changing business world, customers change as well, becoming more demanding and knowledgeable than before. In turn, company management had shifted their focus on their clients or customers so as to stay successfully in business. This transition meant that organizations have to completely reformulate their conventional business aims and purposes from being process-focused to customer-centered. Hence, in order to bring out exceptional customer services within the company operations, the management should employ fine-tuned organizational restructuring. Moreover, employing proactive customer commitment involves the consideration on culture and infrastructure (Lowenstein, 1997).
Organizations that capitalize on customers' active participation in organizational activities can gain competitive advantage through greater sales volume, enhanced operating efficiencies, positive word-of-mouth publicity, reduced marketing expenses, and enhanced customer loyalty (Lovelock & Young, 1979; Reichheld & Sasser, 1990). Rather than going after every potential source of revenue, companies eliminate useless assets that do not add value for customers' satisfaction. Business organizations implement bureaucratic policies and procedures for the benefit of the staff, customers and the company in general. According to Bowers, Martin & Luker (1990), if consumers somehow become better customers -- that is, more knowledgeable, participative, or productive -- the quality of the service experience will likely be enhanced for the customer and the organization.

Company Profile
Home Bargains is recognized to be United Kingdom's small-medium supermarket, dominating its retail sector. Home Bargains's triumph as the company explains is due to an excellent Operating Strategy and Management team (Home Bargains, 2005). Founded in 1990, Home Bargains has indeed come a long way since its first-opened store in Burnt Oak, Edgware. Today, 17 years after it was founded by TJ Morris, HOME BARGAINS is Britain's leading food retailer.
Home Bargains started off with self-service supermarkets in the Northern England during the 1990s. After a few years of operations, Home Bargains management then realized that selling a wider variety and larger stock volumes, and employing fewer staff dramatically lowered product prices. This was the start of great things for the company. Even as everything else crumbled into pieces during the war, Home Bargains was at the onset of its prosperity, thriving in the midst of adversity. It was in the 1990s when Home Bargains came to Britain to introduce self-service stores. About 15 years after, Home Bargains had become a familiar name, not only for groceries, but also for fresh food, clothing, and other household goods (Home Bargains PLC Interim Report, 2003).
SWOT Analysis

STRENGTHS

WEAKNESSES

1. Wide knowledge of retail industry
2. Competent top management and rank & file for operation and maintenance
3. Existing customer base
4. Financial investment backing.
5. Strong IT returns through internet shopping

1. Low supervision on international market
2. Considerably late exploitation of the Internet.


OPPORTUNITIES


THREATS

1. Expansion of target market
2. Healthy market environment
3. Increasing detraction of small retail businesses in UK


1. Economic ...Show more

Summary

Today's market is characterized by highly competitive organizations which are all vying for consumer's loyalty. Firms are faced with the challenge to maintain their own competitive edge to be able to survive and be successful. Strategies are carefully planned and executed to gain the ultimate goal of all: company growth…
Author : iroob
Marketing Strategies of Home Bargains essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Marketing Strategies of Home Bargains"
with a personal 20% discount.
Grab the best paper

Related Essays

International Marketing
The marketing strategies employed in the international markets vary depending on the unique needs of the specific countries such as culture, geography, language and religion. However, they also show some similarities particularly where similar marketing strategies, such as using local media for advertising, are employed over a region or in several countries.
5 pages (1250 words) Essay
Marketing Strategies
This is due to the fact that the different elements of macro environment which include demographic, economic, technical, natural and political factors tends to affect the business organisations like Global Bikes by a significant level (University of London, n.d.).
11 pages (2750 words) Essay
Marketing strategies
Every organization has a goal to achieve in their target market and this is only achievable through implementing effective marketing strategies. In words by Kotler & Armstrong marketing strategies are based on profit expectations of an organization and the type of market an organization sets to satisfy (52).
12 pages (3000 words) Essay
Marketing Strategies
There are several characteristics of marketing strategies observed by Compass Company and its relations. Intangibility is the essence of providing customers with services than can neither be seen, smelt or tasted, in other words these are virtual services provided to the clients.
4 pages (1000 words) Essay
Retail Marketing (Today's market)
However, external factors are not the only elements which influence growth. Today most companies find that it impossible to create any kind of sustainable competitive advantage based on product alone. It is common knowledge that every one of the successful companies sought and found a precise understanding of how it could create a customer-centered competitive advantage.
10 pages (2500 words) Essay
Marketing strategies
Australia has one of the highest car ownership levels in the world, an estimated one car to every two people. Despite a slight decline in 2001, the new car market in Australia has grown strongly following a subsequent surge in 2003.
6 pages (1500 words) Essay
Marketing Strategies
Starbucks truly dominates the specialist coffee shops sector, with the next largest brand, Doutor Coffee Shop, having a value share of less than 4%. Starbucks has two operating segments: company-operated retail and speciality. During 2006,
8 pages (2000 words) Essay
Marketing strategies
n ever due to factors such as vast amounts of information, interactivity capabilities, more competition and integration with the international marketplaces. There is a need now more than ever to utilize marketing strategies to find solutions. A company I’ve supported as a
3 pages (750 words) Essay
The Impact of Technological Advancement in the Marketing and Sales Strategies of Senior Citizen Home Safety Association (NGO)
Senior Citizen Home Safety Association (SCHSA) is a non-profit NGO (non-governmental organization) in Hong Kong (http://www.schsa.org.hk/index_eng.html). SCHSA began operating to provide services for the elderly. The tremendous growth of technological advancement has become the
4 pages (1000 words) Essay
Marketing Models
Marketing is a crucial step in acquiring prospective clients, gaining attention and developing products and services. Marketing is seen as an investment for prospective sales. The world has become a global village with technological advancement. As the world
4 pages (1000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation