Marketing Plan for Houzit: Assessing Opportunities and Risks

This report presents a marketing plan for Houzit, a Brisbane-based company specializing in household fittings. The plan begins with an organizational overview, detailing Houzit's strategic direction to become a national interior retailing company and its objectives of expanding to 100 outlets. It assesses the company's current size, capabilities, resources, strengths (financial strength, strong goodwill) and weaknesses (weak marketing strategies, slow debt recovery). The report identifies marketing opportunities, such as increasing revenue and product innovation, evaluating their risks and benefits. The recommended opportunities focus on a marketing mix strategy to create consumer awareness, aligning with the company's strategic direction, and using the customer life cycle model to review marketing performance. The tactics are attached to the end of the report.

Running head: MARKETING PLAN
Task 1.
1. Organizational overview:
Houzit was a Brisbane based company which marketed household fittings meant for
bedroom, bathroom, mirrors and ornamental accessories. The company had a strong position in
the interior decoration market in Brisbane which was evident from the presence of 15 stores
within the city. The company employed around 20 full time employees and several outsourced
employees. The main components of the revenue generation of Houzit consisted of bathroom
accessories, bedroom furniture, mirrors and ornamental fixtures and accessory fixtures in the
ratio of 30, 35. 20 and 15 percent.
1(a). Strategic direction and organizational objectives:
The strategic direction of Houzit was to emerge as a national level interior retailing
company. The company sought to cater to the customers with superior quality interior designing
products. The mission or the objectives of Houzit were to expand into every Australian state
capital city, reaching to 100 outlets throughout Australia.
1(b). Current size, capabilities and resources of Houzit including in notable strengths and
weaknesses:
The current size of Houzit was commendable with around 15 stores in Brisbance alone.
The company was financially strong. The resources of the company consisted of financial
resources, human resources and its strong goodwill, all of which attributed to the strength of
Houzit. The weakness of Houzit were its weak marketing strategies along with continuous
expenditure which had to be borne to maintain the discounts and repayment opportunities to
customers.

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MARKETING PLAN
1(c). Identify any gaps between objectives and current capabilities and resources:
The objectives of Houzit was to open offices in every state capital in Australia and
targeted to reach a 100 store benchmark. The company’s current capabilities of the company was
not par with its aim. Firstly, the company did have a strong marketing strategy and secondly,
suffered from slow recovery of debts from customers. Thus, it is evident the company generated
low revenue which in turn impacted its financial resources.
2. Opportunities:
1. Identifying two marketing opportunities that meet the objectives and evaluate the risks
and benefits of each opportunity:
The two marketing opportunities which Houzit could exploit consisted of to increase its
revenue generation and strengthen its financial resources were marketing its products and
bringing out more innovative products.
2. Recommended opportunities:
a. The marketing mix strategy should of Houzit should emphasize on creating awareness among
consumers about its products. The marketing mix should be developed by taking into
expectations and demands of products from the customer.
b. The marketing strategy would be aligned with the strategic direction of the retail company by
taking into account the aforementioned marketing objectives of the company.
c. The company should use life cycle model to review marketing performances. A customer
longer life cycle of should reveal strong financial performance and vice versa.
d. Matric to be used to measure the customer life cycle would be profit generation.

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MARKETING PLAN
Tactics:
Attached