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Houzit is a chain store of 15 and now the company will continue to expand in Brisbane. Most of the customers are elderly and the size and size of the store about 1,000–1,500 m2. Currently facing one problem how to attract young people purchasing. It mean we will not only expand store, but also needs expand marketing of customer.
And also we will be a national retail brand, catering to the needs of home makers with a range of unique, high-quality homewares made accessible to all through our easy-to-manage payment plan. We can easily get this goal because we have excellent staff who are highly skilled and knowledgeable about homewares and Great retail space that is bright, functional and efficient for a commercial urban district. High customer loyalty among repeat customers and Assortment of offerings that exceed competitors’ offerings in quality, range and accessibility. But there are some weakness we have to solve. For example, A limited marketing budget to develop brand awareness due to the lack of critical mass and store cover and the struggle to continually fund the growing long-term repayment plans taken out by our customers.
The company is expected to increase its AUD$500,000 in Brisbane for other successful budgets in order to successfully implement the expansion plan. In the near future, we are preparing to develop some business activities to attract more customers and increase brand awareness. First of all, the company is preparing to develop a website to provide people with more convenient browsing and selection products. Of course, we will hire excellent employees in this area to ensure the safety of our customers' information. Second, we will increase advertising. Because this enables the new store to quickly dominate the market. Finally, we will launch discounts from time to time to attract customers. This is a very simple sales method. After all the activities have been developed, we will establish a team to measure the standards of these activities. This group will be based on the tasks given by the company.
Houzit is a chain of home wares stores in Brisbane that specialise in bathroom fittings, bedroom fittings, mirrors and decorative items. They currently have 15 stores spread across the greater Brisbane area, with all stores being managed and coordinated from their head office in Milton.
Segmentation is simply a subset of your overall customer data. Creating a segment involves grouping clusters of customers with similar characteristics and developing marketing activities (message, tone, and channels) accordingly. A segment can be based on demographic factors like age, gender, income, location, and actions such as purchasing behavior. I need to understand Houzit demand, I must identify consumer segments that share common characteristics. I know it is not easy to understand, such as customer’s age, educational level, occupation and level of income, or something in soft variables side, such as lifestyle, attitude, values and purchasing motivations.
Opportunities can also be found by analysing substitute industries, it is because I know growing Houzit without understanding the competitors is risky. Market research can prepare for changing markets and prevent the business being left behind by the competition. Competitor Analysis is an important means of increasing profitability, success, and remaining competitive in your market. Small businesses can plan strategies based on the insights gained from conducting Competitor Analysis, and better understand which specific areas of your business to focus on or improve.
The benefit of the opportunity is about Houzit is close to entering its fifth year of operation; offers a wide range of home ware items on easy-to-manage payment terms and supplies a three-year guarantee on every item sold. Costumers have confidence on Houzit. However, the risk for the company opportunity is the high-quality items is increasing as customers are learning to appreciate differences in quality, and people have more selection than before due to there have a larger selection of choices and are no longer accepting a limited selection of home wares.
Houzit can consider what the most suitable price for the products is. The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product.
In the next year, Houzit purpose is about open more chain store in Brisbane, and within 5 years Houzit will open in other big city in Australia for open a new market. Our business is clear who are the target customers, in this case, our target customers are sophisticated people who are houseproud, shoppers who will drive to an easy-to-access store, customers who require payment plans to spread their commitment over an extended period and 20-50 years old. Identifying a target market helps the company develop effective marketing communication strategies. The location of Houzit is good. According to the data, most of the store are located in a commercial, suburban neighbourhood, or urban retail district, the size is about 1000 to 15000m2, the choice of business location affects your income.so the location of the shop is important.
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