DFS Furniture: A Comprehensive Report on Marketing and Market Research

This report analyzes the marketing strategies of DFS Furniture Plc, a UK-based furniture retailer, focusing on its approach to market research and the marketing mix. The report emphasizes the importance of market research in understanding consumer demands and preferences, enabling the company to tailor its production, forecast revenue, and stay ahead of competitors. DFS Furniture targets the demographic segment of women in the UK market, leveraging social media and online platforms for advertising. The report details the application of the marketing mix (product, price, place, promotion, people, process, and physical evidence) for new product launches, such as folding sofas. It highlights the importance of effective employee training, online delivery options, and attractive product presentation. The report concludes that effective marketing, including market research and strategic planning, is crucial for DFS Furniture's success in the competitive furniture market, enabling the company to adapt to market trends and meet customer needs efficiently.

Marketing for
business

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY ..................................................................................................................................1
Conclusion ......................................................................................................................................4
REFERENCES................................................................................................................................6

INTRODUCTION
Marketing refers to a business process that involves creating relationships with the
customers and satisfying them. Marketing involves all those activities that influences a customer
to purchase the product. This report will observe the marketing strategy of DFS Furniture Plc
which is a furniture retailer in UK that deals in various furniture sets such as sofas, soft
furnishing and all kinds of furniture for a house. This report will highlight the importance of
market research for an organization in conducting the marketing activities of the company. The
report will also include the marketing activities for home furniture as well as the use of
marketing mix in its context.
MAIN BODY
DFS Furniture company will initiate the marketing activities for its home furnishing
items such as sofas, beds, kitchen sets and other household furniture items. The company has
made the decision of targeting the customers as according top the segments. The main segment
in the target list will be according to the demographic segment of customers. This demographic
segment will include the main focus on women population of the UK market. This is being done
as due to the rising concern of interior décor by the housewives. Women population is more
concerned with the home décor items and will mostly get attracted over the company's marketing
strategies. This will be carried through various advertisements made by the company at social
media platforms and online shopping website offers. The company DFS furniture is a leader in
UK's bedroom furniture market and this component will serve as a goodwill for the company in
implementing the marketing and promotional activities for its furniture products.
The marketing research will be conducted by DFS furniture in order to implement the
marketing activities as discussed above. The research will help the company to understand the
consumer demands, preferences and buying habits which will further help in planning the
activities accordingly. Research will help- the company to adjust its production as per the
demands and conditions of the customers. This will further lead to forecast the revenue
projections of the company as well as assist DFS furniture to stay ahead from its competitors.
The company will be able to identify the current trends in the market and get an overview of the
target market region through the research process conducted. Research will also help the
company to gather the information as well as bundle up all the activities that will be added
further in the marketing plan that will be created by DFS furniture. Also, the company will be
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able to identify the relationships between its product brand and the consumer needs and be able
to find out the best way of approaching the potential as well as eliminating all the wastage.
Market research are conducting in order to attain success in potential market in which
new product to be introduced. The reaction of customers were also helpful for the company.
Also, the general tendencies and market conditions are identified at initial level. The research is
also helpful in developing the reasons of product failure and requirements of modification which
need to get their products succeed. The sales volume is identified appropriately by conducting
market research of the company as DFS furniture (Moss, 2017). The reaction of customers is
identified by DFS company to analyse their product in market.
There are several benefits of conducting a market research. The company such as DFS
furniture who usually deals in sofa beds, corner sofas, household furnitures, etc. But as per for
the launch of new type of furniture the company must execute research of market. Data for
market research can be collected from different sources. By analysing the research of furniture
market the company DFS able to launch their new product. The market research is beneficial for
the company like DFS furniture as they guides communication of potential customers in an
effective way. By conducting a proper research, company may able to know about wants and
likes of customers.
By market research DFS furniture company may able to gain opportunity in market place.
The research can execute a new product development which is folding sofa. Because as per
research among market the customer want a comfortable sofa which can be fold and consumes
less space. Also, the market research offers the company a suitable product which can prevail an
opportunity for the companies success and growth.
Another advantage for conducting a research in market for the company DFS furniture is
that the company able to measure risk and also able to minimise it. The market research helps the
company to decide for the actions which helps them to take appropriate actions. The company
can also make a plan by conducting a proper market research so that the allocation of
expenditure of advertisements can be properly maintained(Baines, and et.al., 2017). This is an
advantageous opportunity for the company DFS for maximising profit and achieve success.
The company as the new product launches is as per the needs and priorities of target
customers. Therefore, by proper market research company DHS is able to establish trend in
market and also analyses the on going change preferable in the market in which the company
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deals. By analysing the needs as well as requirements of existing customers company able to
formulate plans which helps the company to be in aligning manner. The market research is an
economical way to eliminate all type of wastages.
The company also able to spot the problematic areas. The reaction, preferences, choices
of customers. The decision during manufacturing and designing of furnitures can be executed
while the problematic areas are identified. This saves time as well as cost for the company DHS.
The company also able to save their efficient resources and utilise the best out of them.
Marketing mix for new product and services.
Marketing mix includes many elements and focus on different areas that includes
product, price, placement and promotion. It is a set of tool and all these tools is used by
organization for promote and launch new products with systematic plan (Lane, 2016). Marketing
mix use by organization for make systematic and effective plan for target market and improve
productivity and profit. Following elements of 7 P's.
Product :- product make by DFS furniture for satisfy needs and wants of customers. It
launch folding sofa with better quality. This organization has well image in market and provide
branded products. Sale after service provide to customers that helps in make and maintain trust
of customers with organization. This product launch by organization according to demand of
customers due to insufficient place in house.
Promotion :- for promotion of folding sofa DFS furniture do promotion through effective
advertisement and communication with people in market. Advertisement shows about product
and its comfort because in present time people wants to comfort so through this sale increase and
profit also increase. Multimedia and campaign use by this organization for effective promotion
of product.
Price :- DFS set price of folding sofa reasonable and its provide all products and services
at minimum price. Through pricing strategy it provide good position to product in market.
Different pricing strategy follow by it like discount offer, credit etc so these strategies helps in
increase sales and profitability. Price fix by it according to product quality and it produce
products according to all types of customers like premium to deluxe.
Place :- DFS organization distribute their new product folding sofa to customers through
different way like online, in store etc. It provide online delivery of products to customers for
improve sales and profitability because through this customers purchase folding sofa online and
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their time and cost also save. Customers have lack of time and online delivery is very helpful in
increase performance and profit. For promote new product it prefer andf majorly use online way
and malls.
People :- DFS provide effective and efficient training to employees for perform
effectively. Because through training it provide all information about products and services and
they easily give to customers for influence for purchase of product (Pike, 2016). Through
provide training and development program to employees for improve their skills and knowledge.
It also motivate to employees through evaluate and analyze performance of employees and
provide remuneration to them so it also helps in motivate to them and they do work with their
full efforts. This thing also increase productivity and profitability.
Process :- organization also has need to research to market time to time for improve
products. Because if it change design of product time to time so this thing helps in attract to
customers. DFS mainly focus on needs and wants and also understand of their choice so they can
produce products according to their choice. After launch folding sofa it also research for
development of product according to demand of customers and according to latest trend so
through this process it easily increase their profit and productivity. This organization direct to
provide customers and take online order for emove, prevent and detect store expenses.
Physical evidence :- DFS furniture organization launch folding sofa with attractive
physical evidence. this includes color, features and quality of product so it provide sofa with
comfortable features and good quality. Color also provide attractive to customers. Sale after
service provide for solve problems of customers and that things helps in provide customer
satisfaction (Pappas, 2017). It evaluate and analyze competitor product that they provide same
product and than produce with advance features.
Conclusion
From above study it has been summarized that marketing is a important function of
organization and it research of market frequently for understand needs and wants of customers.
Through this, organization launch new products and promote product in market through effective
advertisement. Marketing of this organization mainly focus on customers satisfaction and their
choice. Marketing function is only that it make systematic plan and strategies for improve
business. Competition evaluate and analyze by this department for beat to it. Customers get
information about products and services through this.
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REFERENCES
Books and Journals
Lane, P., 2016. Human resources marketing and recruiting: essentials of employer
branding. Handbook of Human Resources Management, pp.23-52.
Pike, S.D., 2016. Destination marketing organizations–research opportunities in an era of
uncertainty. In Book of Abstracts-6th International Conference on Tourism.
International Association for Tourism Policy (IATOUR).
Pappas, N., 2017. Effect of marketing activities, benefits, risks, confusion due to over-choice,
price, quality and consumer trust on online tourism purchasing. Journal of Marketing
Communications. 23(2). pp.195-218.
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