British Home Stores Marketing Plan
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Lecturer – Paul Green, Greame Stephen
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Executive Summary
British Home Stores is a UK based department store privately owned by the Arcadia Group since 2009, targeting to the family market selling clothing and home ware items throughout the UK and internationally. As marketing consultants of BHS we have advised and develop a marketing plan proposal to re-establish the brand as a British family favourite high street store. Regarding our market research we have found that BHS has a place in the market as people are still spending high volumes in the retail industry. In addition, due to the current recession the public are buying more
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The weaknesses such as low customer loyalty, and low company profile can potentially be acted upon and eliminated through by introducing a marketing strategy. This puts the company in a very strong position.
P | EU legislation UK legislationHealth & Safety | E | Recession Inflation/Exchange ratesTax rates | S | Social media DemographicsTrends | T | New technologyAdoption of Electronic Point of sale | L | Legislation | E | Recyclable goodsFairtrade Products. |
2.0 Research
2.1 Market Research
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An assessment should then be carried out to determine who the winners and losers are of the fashion high-street retailers and this has been completed in the same report. Value and young retailers, supermarkets, mid-market retailers and specialist retailers (in particular foot-wear) have been analysed, by terms of sales, to define which retailers have succeeded and which have suffered during the recession. By comparing these retailers, it can be understood what the succeeding retailers have offered consumers over the suffering retailers. Value retailers have stood out in this report as being a beneficiary of the downturn “this growth has been driven by a number of economic factors, particularly consumers’ keenness to obtain value for money and genuine pressure on their household budgets, leading them to trade down on many items. Given continued reductions in clothing prices, fashion has been particularly attractive relative to other household spending categories” (Mintel, 2010). The report suggests that “as might be expected, taking advantage of sales and offers is more common among those spending less last year as well as in 2010, as is shopping more often in value clothing stores or trading down to less expensive stores than usual”. The report ‘Clothing Retailing – Europe – 2009’ suggests that “when the economy starts to recover, life could get tougher for the value retailers and positioning correctly for the upturn will be important. So, while ultra low prices and
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