Business Analysis : Nature Of Business

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Name: Bixing Peng Name of business: Haefren Baum GmbH Nature of Business Haefren Baum GmbH is a home furnishings retailer. The company was established in 1965 and incorporated in 1970. Haefren is a major customer of Wiegandt GmbH and has served as Wiegandt 's since 1968. Haefren currently owns one location in downtown Cologn and three other outlets in suburb Rhineland. Marketing Haefren Baum GmbH is one of the customers of Wiegandt. The company has been in the market since 1965 and incorporated in 1970. Being a long time partner of Wiegand, Haefren provides high-quality home furniture with financing. The demand for the home furniture is related to the housing market which closely tied to the national economy. Haefren owns four different locations of business. One is a retail store in downtown, and three are outlets in the suburban area. The different type of business can help Haefren differentiate their customers based on price and other preferences. Retailing in its downtown location for 30 years, Haefren is well-known in Cologn. Haefren has run their business in the local market for a long time, but they were also affected by the downturn in 1994. In early 1990, the re-unification provided opportunities for company 's development. Both Haefren and Wiegandt operated locally, the knowledge of local market gave the two companies strength in the boom of the furniture sale. Because Haefren has been in the market for a long time, their reputation made them
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