Marketing management hmv assignment

It identifies the external and internal factors of a business Inch can be favorable or unfavorable to attain the objectives. * Strength -A company’s specialty which will give them competitive advantage. Meanness – A company decline sector which cost the company to have a disadvantage in the competition. * Opportunity – External chance to improve the * Threats – External elements in the environment which can cause company. Damage to the company. HEM Strength: * Extensive market presence: The first HEM store was opened in 1921 at 363 Oxford Street, London.

Since then till now HEM has gone on to open 200 stores all over I-J and approximately 20 live entertainment venues and festival. (http:// NNW. Humorous. Com/about-us/facts-and-figures. Asps) This activity enables them to eve a major marketing advantage. They have one step solution for music lovers; all of their stores are located in prime shopping district which means more human traffic. They provide physical outlet for giving preview on upcoming Cad’s and movies. * Established entertainment brand: Since HEM was one of the first label company, they are very well established in the music industry.

Positioning: Position is the primary component of the STEP strategy, or the theory of the positioning can be based on the science of perceptual strategy. This system concern how the product or services will be presented to the customers, how they should advertise or promote their product, so that the customer won’t buy from their competitors. As for HEM, they have managed to carefully design their segmentation. Now they have 328 stores worldwide and an e-tailing site, which means their products are easily accessible.

The HEM should target a specific market of the young generation such like as age group of 15-25 years old. This group of people is the most frequent buyers of the HEM services. Well, basically HEM is a record label company so they should prioritize on music other than their other services. So, they should open up a new website only for their music lovers, for example “ hummus’s. Co. UK” this will help them to sort out the music customers and the customers for their other products, so he customers buying music can easily see what’s new and which one the blockbuster.