Development of Marketing Strategies for Houzit

Running Head: DEVELOPMENT OF MARKETING STRATEGIES
Topic- Marketing strategy development (Report and Marketing plan)
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2MARKETING STRATEGY DEVELOPMENT
TABLE OF CONTENTS
INTRODUCTION.......................................................................................................................................3
TASK 1.......................................................................................................................................................3
ORGANIZATIONAL OVERVIEW.......................................................................................................3
OPPORTUNITIES..................................................................................................................................4
TACTICS................................................................................................................................................5
TASK 2.......................................................................................................................................................6
EXECUTIVE SUMMARY.....................................................................................................................6
SWOT ANALYSIS.................................................................................................................................6
MARKETING OBJECTIVES.................................................................................................................7
STRATEGIES AND MARKETING OPPORTUNITIES........................................................................7
MARKETING EXPENSE BUDGET......................................................................................................7
IMPLEMENTATION.............................................................................................................................7
CONCLUSION...........................................................................................................................................7

3MARKETING STRATEGY DEVELOPMENT
INTRODUCTION
The paper is a combination of two tasks. First part includes a strategic report on Houzit and the
second part includes a marketing plan of Houzit. Systematic structuring is followed in both tasks.
TASK 1
ORGANIZATIONAL OVERVIEW
STRATEGIC DIRECTIONS AND ORGANIZATIONAL OBJECTIVES
VISION STATEMENT
The vision statement of Houzit is- To be one of the national retail homeware brands,
emphasizing on the various home makers’ needs and providing a range of high quality and
unique home wares to all customers by means of our flexible and easy payment plan of ours.
MISSION STATEMENT
The mission statement of Houzit is- Houzit will focus on having a substantial retail homeware
presence in almost every capital city of Australia by the end of 2020, starting with a limited
number of 15 stores in Sydney and increasing the number to 100 considerably in the coming
years.
OBJECTIVES
 Increase in overall sales in the coming 3 years from $15 million annually to $20 million
annually.
 Increase the list of loyal customers from 10,000 to 15,000
 Focus on brand recognition establishment in Sydney, so that 1 in 3 people recognize
Houzit brand when a arbitrary survey is conducted in 18 months’ period interval.

4MARKETING STRATEGY DEVELOPMENT
THE CURRENT SIZE, CAPABILITIES AND RESOURCES OF HOUZIT INCLUDING
NOTABLE STRENGTHS AND WEAKNESSES
Current size 1000-1500 sq. mts
Capabilities The main USPs of Houzit are quality, uniqueness and choice preference
options
Resources Have 15-20 full time employees and some casuals.
STRENGTHS AND WEAKNESSES
Strengths Weaknesses
 Excellent staff support, who are highly
skilled and have prior knowledge of
homewares
 Excellent location and great retail
space that is functional, bright and
commercially efficient for urban
district.
 High customer loyalty among existing
customers
 Offering high quality products in
comparison to customers
 A limited marketing budget for
developing brand awareness.
 Lack of critical mass and store cover
 Growing long term repayment plans
of customers made the company
struggle on fund supply issues.