Bryant Homes and Burton Group - Assignment Example

Bryant Homes Name Course Name and Code Date Introduction Bryant Homes’ has an excellent marketing strategy that has helped the company maintain its market position as the best homes provider. It is considered as the company that understands the environment within which it operates and hence it expansively manages to gain competitive advantage over its competitors. This section discusses the different marketing strategies that have helped Bryant Homes’ to withstand rivalry and hence maintain its market position as the best homes provider in UK; in this regard, Ansoff Matrix, PESTEL analysis and Branding will be used. Ansoff Matrix This matrix was developed to help managers to consider growing the business through existing or new products in existing or new markets (Reed 2006). For instance, the matrix is vital in helping managers assess the different degrees of risks associated with making the organization more profitable and hence moving it forward. Ansoff Matrix has four marketing strategies that are mainly hinged on whether the products are new or existing as well as focus on whether the market is new or existing. Accordingly, each strategy has a distinct level of risk. The diagram below shows Ansoff Matrix. This section discusses Bryant Homes marketing operations using Ansoff Matrix; in essence, the four Ansoff marketing strategies will be used: Market Penetration: this strategy demands that the company increases its market share within the existing market segments (Ferrell, Lukas & Schembri, 2012). This can be substantially achieved through selling more products or services to established customers or through getting new customers within the existing market (Kazmi 2007). Regardless of the market being crowded by many players, Bryant Homes provide its customers with high-end homes, which are attractive in design, excellent use of space, which complies with customer specifications (Schmid 2011). The company has a distinct market position making it to have a competitive position over its competitors. Given the fact that Bryant Homes exceed other stakeholders’ expectations in the market, the company has immense competitive advantage and thus its level of penetration is un-comparable (Percy 2012). Product Expansion: this strategy involves the development of new products for an existing market; for instance, the company should think about developing products that meet customer needs that will automatically make the company perform better than its rivals (Fifield 2012). Bryant Homes provide homes that are beyond customer expectations, which have largely continued to win customers in the market. In this regard, the company has continually improved product quality by building houses with extreme privacy, ambience views, aspect as well as including a garden. Market Expansion/Development: this strategy focuses on finding new markets for existing products (Loudon, Stevens & Wrenn 2005). For instance, it involves marketing activities such as market research together with further market segmentation, which vastly help in identifying new groups of customers (Anderson 2012). Bryant Homes has managed to increase customer loyalty as well win new customers in the current market and is largely considered as the best and outstanding modern homes provider (Bachmeier 2009). In the same line of discussion, the company has excellent marketing promotion, which has elicited diverse media coverage thus helping the company to increase its customer base. Diversification: when the company uses this strategy, it is compelled to produce new products for new markets simultaneously (McDonald 2007). This is the most risky marketing strategy (Barker, Valos & Shimp, 2012). For example, as the company create or produce products, which it never used to create, the risk of uncertainty increases. The urban renewal and buildings on Brownfield; Bryant Homes diversified its products which on the other hand helped the company to restore its premium position in the market. The Simple Universal Recognizable Truth (SURT) research vastly empowered the company to understand what customers need and thus work to meet these needs by diversifying their products. PESTEL This is a framework used by marketers for monitoring and analyzing external marketing environment factors, which have immense influence or impact on the organization. These factors include: Political: This is the level or degree of government intervention in the economy, which can be through government policies, political stability or instability, the tax policy, environmental laws, foreign trade policy as well as other trade restrictions (Hackley 2010). UK is politically stable and thus provides a favorable environment for Bryant Homes to expand its business operations. In the same line of argument, the Planning Policy Guidance Note No.3 is a government regulation that requires all homebuilders to develop Brownfield sites for urban regeneration. Regardless of this regulation exerting immense pressure on homebuilders, Bryant Homes through it new positioning strategy it has turned this threat into an opportunity; the company’s repositioning strategy has made the company to make the best use of the development opportunity presented by the PPG3. Economical: These factors significantly impacts on how the company does business together with how profitable it is and they include the country’s economic growth, inflation, interest rates, disposable income of customers and exchange rates (Anderson 2012). UK has a stable economy with reasonable interest rates; this is particularly exhibited by the fact that the new housing market has been on the rise over past few years. Due to the availability, more disposable income among consumers many homebuilders including Bryant Homes strive to build homes that are beyond customers’ expectations in terms of design, privacy, and space. Social: These are the shared beliefs and attitudes of the population, which are hinged on the population growth, health consciousness, age distribution, and career attitudes (Richard & Wilson 2012). In the UK housing market, shareholders seek healthy return on their investment while on the other hand the larger UK population has an in drive to own a modern home. For instance, most prospective customers do an intensive market research before buying a home; looking at different offers in newspapers. Technological: The technological landscape vastly affects the way business is conducted in any market. For instance, management and marketing activities of a company are affected by any change in technology. The invention of internet technology increased the levels of information transfer within the UK market; Bryant Homes uses high-end technology to directly communicate with its existing and potential customers. Environmental: These factors demand that any company should work towards improving the environment within which it operates. This can only be achieved by such firms being environmentally and socially responsible; being ethical and observing carbon footprints as required by the government. The UK homebuyers embrace truthfulness in the company’s operations; for instance, what you promise to provide is what the customer gets. The SURT research by Bryant Homes “enjoyment of life at home is about much more than brick and mortar” and hence they strive to meet or even go beyond this promise. Legal: These factors include thing like advertising standards, consumer rights and laws, product safety, and equal opportunities. Some of the UK housing legal regulations are rebuilding Brownfield site for urban regeneration (PPG3). Branding A brand is a symbol, term, name, sign, design, and/or combination that are intended to identify company’s goods or services while at the same time differentiating the company from other companies. The main purpose of branding is to get prospective customers recognize your company as the best provider or the solution to their needs (Anderson 2012). Good branding must deliver the company’s message clearly, confirms the firms credibility in the market, connects the organization to its target prospects emotionally, it also cements customer loyalty, and above all it motivates the buyer. Bryant Homes is a company with a strong brand name recognized throughout the country as the best housing provider. For instance, the company fully understands the needs and wants of its customers and hence brands itself as the only company in the market that can fully meet their needs. The company’s massive marketing promotion activities including advertisement has significantly increased the company’s recognition within the market. Bryant Homes brand truth aspect has helped the company to identify what does well in the market and hence help the company to zero down on the opportunity presented by PPG3 regulation. For instance, it has also enabled the company to focus on the significance of the local environment as well on sympathetic urban design such as landscaping, site features, views, and architectural sensitivity. The company’s brand truth is “Bryant plans from outside in.” For this reason, the company has managed to capture all building aspects that customers are looking for such as character, strong resale value, individuality and detail. Bryant Homes has an outstanding brand loyalty within the market it operates; for instance, customers continue purchasing housing facilities from the company rather than opting for the company’s rivals. In the same breath, consumer commitment to continually purchase the company’s products is exhibited by word of mouth advocacy whereby existing customers recommend prospective customers to Bryant brand. The company has worked to maintain customer loyalty as well as win new customers and hence it is a company with potential, which provides modern homes that tremendously exceed customer specification and expectations. Bryant Homes has strong brand equity; for instance, Bryant Home’s brand name is well known across the UK, given the fact that the company is well known and extensively helps the company in generating more income. Bryant Home’s is largely market focused and for this instance, it has conducted intensive and expansive market research in order to have a clear understanding of the customer needs and wants. With regard to this understanding, the company has managed to integrate its brand equity within the market and thus allowing it to become the best homes provider. In the same line of thinking, the company works tirelessly to improve the company’s value to all stakeholders that help it to stand the test of time. Bryant Home’s is vastly understood as durable and flexible in the market place; this on the other hand has elevated the company’s brand equity. Burton – Group Introduction Burton Group is amongst the largest fashion retailers in the UK with 92 department stores and approximately 1,500 retail outlets. The company’s Fastflow to fashion initiative has been on the forefront in streamlining its supply chain management. This section analyses Burton Group’s operations management activities and performance; for instance, the 4vs (Validity, Value, Venue, and Vogue), Planning and Control, and supply chain and distribution strategy will be used. 4Vs This a marketing mix tool that works similar to 4ps and 4cs marketing mix. In this regard, the 4vs represent validity, value, venue and vogue. In this context, this section analyses Burton Group marketing activities using the 4vs tools. Validity This tool dictates that the company should not produce products in accordance with the consumers needs but should also consider other factors including environmental friendliness, social security as well as safety. Burton Group using its Fastflow solution distribution strategy has ensured that customers get what they need when they need it (Anderson 2012). For instance, the company works to ensure that they have right products at the right time and hence ready for their consumers. Similarly, the company is extremely flexible as it readily adjusts to consumer preferences that are vastly dynamic. The company is versatile and can react efficiently to the market demands, which has on the other hand helped Burton Group to provide products needed by consumers but also in an environment acceptable by customers. Validity values consumer approach towards marketing which significantly embrace customer feedback particularly with regard to what they expect about the product. In this essence, products should be designed in a manner that ensures customer satisfaction. Value This model goes beyond price and lowest cost; for instance, the company should provide value for money given the fact that the current living standards for customers is constantly rising (Black & Gregersen 2002). Given this understanding, Burton Group provides its customers with quality clothing accessories at a slightly cheaper price. For instance, the company’s T-shirt suppliers are from the Far East where they are supplied at cheaper price as compared to the locally sourced products. Value marketing singularly focuses on delivering the right value to the customer; the customer values what he/she pays for. Venue This tool demands that company’s should not only provide goods and service on the convenient places but also these service should be provided at venues or places where customers prefer most or even be delivered at home. Burton Group operates 1,500 outlets and 92 department stores that strategically located on high streets and shopping centers throughout UK. These locations are highly coveted by the larger UK population and thus making it easier for customers to access the high quality clothes that the company offers. Accordingly, the company owns Home Shopping Brands Racing Green, hawkshead, Innovations, and McCord that are essential in product delivery. The venue should give the customer the convenience in easy availability of products at the right place. Vogue should be through efficient two-way communication in order to achieve effective promotion. Vogue This requires the company to not only a two-way mode of communication with customers, but the company’s promotion should be largely in favor of the public and acceptable to the entire population (Dibb & Simkin, 2008). In this regard, the Burton Group has an Integrated Supply Chain Management system, which essentially helps the company to communicate with its suppliers in real time. This system also allows online stock visibility across all stages of the supply chain thus the company has greater control on the supply chain. This system also empowers the company to communicate to all multiple external contacts. Planning and control Planning is setting of realistic goals and choosing effective ways to achieve those goals (Anderson 2012). Burton Group Fastflow objective is to maximize sales through sure that there are right products available to customers at the time they want to buy them. The most crucial challenge for fashion retailers is getting the right and efficient flow of goods along the supply chain from the manufacturers to the shop floor (Ferrell 2012). The Fastflow is a plan or a structure that enables Burton Group to efficiently provide customers with products at the right time and at the right place as well as make the company more responsive (Griffin 2007). In the same line of discussion, the plan also involves the company having the right items readily available for customers together with allowing the company to react or respond to the market dynamics (changing consumer preferences). Consequently, the plan only allows the company to be led by the market forces father than production forces. Control is a process tasked with managing activities to ensure that all actions are consistent with the company goals. Burton Group has excellent means and ways of controlling the flow of products from manufacturers to its stores (Baker 2008). For instance, the company works closely with its suppliers in selecting materials for garments until when the final products are delivered. Similarly, the company only works with suppliers with the ability and capacity of meeting the company supply standards; those suppliers with faster response times, reliable, flexible and higher quality assurance. Furthermore, the company logistics are excellent and have largely propagated the company’s success. For instance, the company suppliers are up to their task, the Distribution Centers have lessened stockholding, the company has Delivery System ensure that reduced lead times, and above the company outlets are strategically located on high streets to allow customers to purchase what they want when they want it. Supply chain and distribution strategy Supply chain management involves the planning together with management of all activities related to sourcing and procurement, logistics management, and conversion activities. For any supply chain management activities to be successful collaboration and coordination with channel partners including suppliers, third-party service providers, intermediaries, and customers must be embraced at all times. Burton Group supply chain strategy is mainly comprised of links involved in bringing finished items to the customer together with all methods used in ensuring all stores have sufficient stock to offer items in customer preference: in every size and color. Using the Fastflow to fashion initiative, Burton Group has been able to efficiently manage its supply chain. The company is not a cloth manufacturing company; however, it sources its products from different suppliers within UK and from overseas. Given this understanding, the company works closely with its suppliers particularly in choosing materials for making garments up to when they are delivered. Burton Group embraces high quality and the company’s success relies on its suppliers meeting high quality standards set by the Group. The Fastflow to fashion strategy is the company’s creation for fast and efficient flow of goods along the company’s supply chain for the Group to become effective and more responsive. For instance, this creation has largely helped the company to have the right items for sale at all times for consumers and empower the company with the flexibility to respond aptly to the changing customer trends and preferences. Burton Group supply chain is largely market driven rather than production led; this has vastly helped the company to react quickly and efficiently to market demand. The company’s supply chain as already established is hinged on the links and connections involved in getting fished products to the final consumer as well as the methods of making sure that each of the Group’s outlet has enough and sufficient stock that meets customer needs. The company has set guidelines which ensures that suppliers all its suppliers meet its standards (Hillestad & Berkowitz 2012). The Fastflow to fashion initiative was created to enhance the performance of the supply chain by reducing lead times in terms of the time of placing an order and the time when goods are delivered. It also increased product availability; for the company to achieve the stated objectives, its purchases are solely directed towards suppliers with quick and effective response abilities. Similarly, the company moved from warehousing to distribution centers. With regard to this, the company enjoys faster supplier response times, increased flexibility, greater reliability, improved quality assurance, and above all increased profitability. Distribution centers are other key places, which have strongly increased the faster flow of products between manufacturers and the retail outlet stores; efficient flow of stock, accuracy together with improved service levels. Fastflow to fashion has accurately simplified supply chain management. The company has vastly benefited from the activities at the distribution centers including delays elimination in getting products to the sales outlets, delivery processing time reduction, and standardization of the pre-retailing specifications. The company logistics has ensured seamless supply chain whereby the Group has reliable suppliers, efficient and effective distribution centers, good delivery systems, and strategically located stores. References Anderson, D 2012, Strategic marketing planning for the small to medium sized business: Writing a marketing plan, Business Expert Press, New York. Bachmeier, K 2009, Analysis of marketing strategies used by PepsiCo Based on Ansoff's Theory, GRIN Verlag, Jakarta. Baker, M 2008, The strategic marketing plan audit, 2nd Ed. Cambridge Strategy Publications Limited, Cambridge. Barker, N, Valos, M & Shimp, T 2012, Integrated Marketing Communication, Cengage Learning, Melbourne. Black, J & Gregersen, H 2002, Leading strategic change: Breaking through the brain barrier, FT Press, New York. Dibb, S & Simkin, L 2008, Marketing planning: A workbook for marketing managers, Cengage Learning EMEA, London. Ferrell, O 2012, Marketing strategy text and cases, 6th ed. Cengage Learning, London. 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Schmid, V 2011, The impact of technology on marketing strategy, GRIN Verlag, Washington. Read More