The paper "Houzit’ s SWOT Analysis " is a great example of a marketing case study. Business plans are essential for the success of any business. Houzit’ s SWOT analysis highlights how it enjoys the availability of a dedicated, skillful and knowledgeable workforce that is equipped with top-notch skills and experiences on housewares as one of its strengths. On the contrary, it has a weakness in regards to its budget and this often hinders its operations. However, the presence of a high growth market in Brisbane presents Houzit with an opportunity to expand its market share by attracting new customers as well as maximize on profits.
Additionally, a major concern for Houzit is the stiff competition they experience in Brisbane from other industry players. In regards to its marketing objective the company seeks to maintain a direct cost on marketing expenses, that is 45% or less of its total overhead cost in order to compete effectively and remain sustainable. To effectively implement its marketing strategies and objectives Houzit will rely on an in-house communication team which has the prowess and knowledge on homeware equipment to help it advance its ideas.
The home-ware industry in Brisbane is not fully utilized and thus this marketing plan can offer Houzit opportunities that will be crucial in maximizing sales and increasing its market share. SWOT analysis Strengths Houzit boasts of the availability of a dedicated, skillful and knowledgeable workforce that is equipped with top-notch skills and experiences on housewares. Houzit also benefits from retail space that is appealing to customers due to is presentable front space and layout. It benefits from the availability of a number of returning customers and a wide customer base margin.
In line with this, it also boasts of the loyalty of its customers. Houzit’ s existence in this industry over the years has helped it acquire the essential experience and techniques needed to succeed in this industry. Houzit also boasts of a wide range of assortment of offerings that exceeds its competitor’ s offerings in quantity accessibility, range and quality (Khalid and Habib, 2014). Weakness One weakness that Houzit has suffered from is limited marketing budget which has inhibited the ability of the company to foster its brand awareness due to critical mass and core cover. Houzit has struggled to sustain the continued long-term repayment plan that has been taken out by its customers. Opportunities One significant opportunity enjoyed by Houzit is the presence of high growth potential in Brisbane this means that there is an ever-increasing number of potential customers and a target market that is not entirely aware of the company’ s products. The other opportunity is the availability of the customer pool that can be developed into a niche and be incorporated into the company’ s long-term plans. Threats One significant threat is that the operation of the competitors; local independent retailers might contribute to falling prices of products due to their overhead cost prioritization tendencies. Stiff competition from the increasing number of national retail chains moving in Brisbane. Economy slump which has impacted the spending habits of customers on housewares.
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