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Changing economic environment - Case Study Example

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Changing economic environment

Annual report and accounts, 2004).
The mission of William Hill is to reach wider target audience and expend internationally. The potential markets of William Hill include Scandinavian countries where competition will be less than in other European countries. In UK, William Hill's marketing strategy can be based on students target audience. Service quality is used as a strategic weapon and the aim of William Hill is to maintain high quality standards at costs lower than competitors'.
Betting industry has maintained high-speed growth through continuous optimization of its product/service mix and constant technological innovation. It has also realized rapid expansion through capital injections. Present day situation in betting industry is marked by two factor - specification, which is to do with the 'design quality' of service, and conformity, which is to do with the 'process' quality which is achieved are of particular importance to customers. Recent years UK has become a new centre of world gambling. "The major firms, Ladbrokes, William Hill and Coral (the "Big Three"), who dominated the old world, now look like dinosaurs in the new landscape" (UK Betting Industry, 2004). This expansion is closely connected with Internet facilities and WWW which opens international markets for these companies. "Spread betting firms have been increasing their share of the total betting market over the past three to four years eroding the high end phone/net business" (UK Betting Industry, 2004). Be in one of the most highly rated industries for stability and success, betting industry offers an opportunity to everyone who wants to earn a high return. Recent years, a special attention has been paid to the law regulating gambling in order to secure customers and competitors in the industry (William Hill takes online betting further overseas, 2005).
Segmentation (Johnson, Scholes, 1998) allows William Hill to divide up its market into customer groups or segments. Customers within a segment are similar to each other and dissimilar to other groups of customers in other segments. Consumer segmentation is: Non-user; Competitor's customer; low-value customer; high-value customer. Today, William Hill orients on the particular geographic area. In general, UK market represents an individual geographic market that offers great opportunities. Increasingly market researchers are turning to lifestyle analysis as a means of generating a clearer picture of their customers' behaviour and thus their tendency to purchase different types of product.
SWOT (strengths, weaknesses, opportunities, threats)
An examination of how strategy is formed gives useful insights into the nature of strategy itself. SWOT helps to analyze the position of a firm at a particular moment in time. The strength of William Hill airlines is that it's goods obtained a very competitive position on the UK market. The brand has a hard core of loyal supporters. It develops lines of services to satisfy the needs of wide audience, low-cost of the services. William Hill has maintained high-speed growth through continuous optimization of its service mix and constant technological innovation (on-line services). In general, the UK betting market shows the highest rate of economic growth around the world. The opportunities of William Hill include: high potential to growth and profitability of the company; ...Show more

Summary

William Hill is a UK based company founded in 1934. It is a leader in bookmaking services "offering odds and taking bets on a wide range of sporting and other events" (William Hill: Annual report a accounts 2004). Today, William Hill relies chiefly on an efficient technology innovation system and on-line services…
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