Supply Management of International Journal - Myassignmenthelp.Com

Question: Discuss about the Supply Management of International Journal. Answer: Organizational Overview Strategic Direction and Organizational Objectives Primary objective of Houzit is to develop a unique image in the global retail chain industry through delivering high-quality products and through providing them easy payment plans. Apart from this, they have also concentrated on setting up new stores across Australia and to gain competitive advantage at the international level. Houzits another primary objective is to reach the mark of $20 million sales. Another significant objective of the organization is to create brand recognition in Brisbane; thus, at least 1 in 3 people learn about the brand (Arturo Garza-Reyes, et. al., 2012). Current size, capabilities, and resources of the organisation Company is operating its functionalities in retail industry from past 50 years, thus, they have acquired a huge range of resources in terms of expansion of their business. Houzit has approximately 15-20 full-time employees and along with this, they have also a number of casual employees in terms of attainment of their goals and the objectives. In terms of expanding their resources, they have enhanced their menu of products and services for fulfilling their customers needs and multiple payment plans have also been introduced. Following are companys strengths, weaknesses, opportunities, and threats (Berthon, et. al., 2012). Strengths Knowledgeable, skilled and talented employees; Huge customer loyalty; Variety of products and services in terms of fulfillment of consumers' needs. Weaknesses Limited budget and listed in small level organizations; Limited number of payments plans (Bessant, et. al., 2012). Gaps between the objectives and the current capabilities and resources The primary gap will be budget because company has developed the objective to increase their sales in next three years which requires huge budget. Large number of human resources will be required with the increased number of stores in the country. In terms of expansion, organization needs to spend a huge amount over the promotions and the advertisements and maintaining the same level of quality is also necessary for the attainment of the organizational goals and the objectives (Green, et. al., 2012). Opportunities Marketing opportunities that meet the objectives Most adequate method of attainment of the organizational objectives will be conducting the promotional campaigns through digital marketing tools. Along with organization could also focus on the pricing strategies in terms of providing the variety of goods and services to its target audience at lower rates in comparison to its competitors (Hamister, 2012). Risks and benefits The digital environment is dynamic in nature and the primary benefit of digital marketing tool is variety. With the help of huge choices, organization could easily measure and monitor. Penetrative pricing strategy will lead to the abundance of consumers and the benefit linked with this pricing strategy is opportunity to enhance the sales volumes easily. Recommending the marketing opportunity Marketing mix strategy Product: Houzit needs to adopt certain effective strategies so that they could be able to develop their products unique from its competitors. Product differentiation strategy could be adopted as well as maintaining the quality of the product is another great factor through which organization could differentiate its products from its competitors (Ingwersen Stevenson, 2012). Price: Implementation of penetrative pricing strategy is another great objective through which they could reach to the mark of desired sales. Promotion: Digital marketing tool, trending techniques such as social media platforms and the print medium methods could also be used in terms of approaching the target audience. Place: Houzit is currently operating its functionalities from around 15 stores and with the objective to expand their business; they have decided to set up few more stores across Australia (Kronenberg Bergier, 2012). Alignment of the strategies with strategic direction Above discussed strategies and the methods are aligned with the objective of attainment of organizational goals and the objectives. The company is operating at the small level and to develop their image in the global market, an organization needs to adopt certain crucial techniques through which they could develop brand value in order to attract target audience (Min Kim, 2012). Marketing performance Competitive Analysis Houzit is conducting its functionalities from a long period and in this manner, they could easily expand its business in the global market. Following are certain major challenges which need to be faced by the organization to measure its performance: An organization has adopted promotional strategies in order to enhance its sales volume and to attain competitive advantage in the target market. Houzit has developed its national presence with a large number of customers in the target market and its primary competitor is IKEA. While evaluating, it was observed that IKEA has large presence than Houzit as it deals with small market i.e. Brisbane (Rogerso, 2012). Metrics for measuring marketing performance Certain aspects of brand awareness, customer acquisition, lead generation, engagement associated linked with marketing performance should be measured while evaluating the marketing performance. Tactics Scheduling of marketing activities: Houzit is a large integrated company and according to this, they have developed strong connections with the distributors and suppliers in terms of developing a strong position in the market as well as to gain adequate competitive advantage in the market. Costing: Huge capital will be required in order to expand the business in the global market. Plan for coordinating and monitoring scheduled activities, including KPIs: Developing and distributing the products and the services in relevance to the consumers' objectives, an organization could easily attain its goals and the objectives. Accountabilities and responsibilities: Houzit is accountable and responsible towards its consumers in terms of quality of the products delivered by them. Legal and ethical requirements: Above mentioned tactics have the legal impact over the business and to fulfill these requirements, Houzit needs to fulfill the social, political and the customers' value in order fulfills the customers demands. Tactics fitting within organizational resources and capabilities: Tactics used in the marketing plan are useful for the organization in terms of attainment of the organizational objectives. The company has the limited budget and in this concern, they should be able to comply with the organizational objectives as well as an effective position could easily be developed in the competitive business environment. Assessment 2 Prepare and present a marketing plan SWOT Strengths Knowledgeable staff in relevance with the homewares; Great retail space that is positive, useful and efficient for a commercial inner-city; Attained huge customer loyalty through delivering qualitative goods and services; Effective quality at low rates in comparison to its competitors. Weaknesses Limited budget in order to develop an effective image in the target market; Lack of capital for providing advanced payment plans to its customers. Opportunities Development of effective image in the target market in comparison through delivering adequate qualitative goods and services; Enhancing the sales through promoting the Great Brisbane area. Threats Vast options are already available to the customers in terms of homewares; Aggressive promotional strategies used by its primary competitors; Marketing Objectives Initially organization has developed certain objectives which include setting up an effective and useful position in the global market. Increasing sale volume and increasing the customer base in terms of attainment of organizational goals and the objectives. Apart from this, organization has also planned to expand its business in the global market with the view to attaining the growth objectives (Sampson Spring, 2012). The major factor which has influenced the organization towards expanding their business is the demand for their fittings, homewares, mirrors, etc. in the domestic market. They have gained an experience of 50 years in this industry and with this factor; they could easily be able to set up its unique image in the market. Following are certain marketing objectives which have been developed by the marketing team of the organization: Increase in the sales to $20 million per year from $15 million in the next three years; Increase in the customer base to 15,000 in the next initial years of the organization in the global market; Enhancement in the brand awareness so that every 3rd person could recognise their brand in the homewares in the next survey which will be taken in next 18 months (Shih, et. al., 2012). Strategies Houzit is involved in the manufacturing of homewares which does not relate to the basic needs' products of the customers. The demands of these products are bit low as well as their target audience is also limited. In this scenario, an organization needs to adopt certain strategies through which they could be able to cope up with their desired outcomes. The major thing which is required by them is setting up an effective position in the global market i.e. expansion of the business at the international level. For meeting up with its objectives and to attain its goals, organization has developed a set of strategies. At the global level, there are numerous organizations exists and to compete with them and to develop its unique image, certain advanced strategies are required. Thus, Houzit has adopted the penetrative pricing strategy as well as the digital marketing tools through which the advertisement and the promotion of the business will be done in an effective manner to the target aud ience. Marketing mix technique has also been included in their strategies section in order to strengthen its position in the target market. The company is new in the global market and to attain its desired goals and the objectives in an effective manner, adaptation, and implementation of effective strategies is necessary. All the above techniques are useful in the process of attainment of its goals and the objectives (Walker Jones, 2012). The gaps which lie between the expected outcomes and the resources available to the organization would easily be removed with the help of above-mentioned strategies. Major risk factor is a development of the organizational image in the global market and with the help of marketing mix techniques and the digital marketing tools, Houzit will be able to set up its position as well as the organization would easily be able to attain the competitive advantage in the target market. Implementation Tactics adopted in the process of selecting the strategies were costing and KPI. Both these tactics play crucial role in the attainment of the organizational goals and the objectives in an effective manner. These have the capability to cope with the consumers expectations as well as with the objectives of the organization. Costing describe the budget of the organization which will be required for enhancing the performance of the organization. In terms of expansion, Houzit needs to increase the number of their stores in the target market so as to attain its sales objectives. This will require sufficient funds, as well as this, will also require promotional activities through which the organization would be able to enhance the demand for their products and the services. This will also require funds which are the bit difficult for the organization as Houzit is a small level organization and arrangement of funds is the bit difficult for the organization. Apart from this, other tactics used by the organization is KPI under which the quality of their products and services are included. 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