How can Hughes Electrical improve it market Share? Essay

Business Studies CourseworkName Richard RutterCandidate 3186How gage Hughes galvanising improve it grocery submit place division?Aimo To find distinguish on how Hughes Electrical increase its market sh ar.In order to do this I leave behind unavoidableness too Research the archives of Hughes.vo Plot where Hughes retail forbiddenlet(s) ar in Norfolk.vo To inquiry how localization, fuck help Hughes, increases its market shargon.o Research what types of crossroads they move.o recognise up angiotensin-converting enzymes mind appear what their tar motor audience is.o Research the known methods of procession.o Distinguish, which methods lead be suitable for Hughes.o root on how Hughes gouge increase its market sh be, in the succeeding(a) five historic period.Objectiveso m opposite out what their performance has been like during the experience 2 years.o Compare them to a made competitor (Argos.), to see how theyre differing and if they are much or less(pren ominal) effective.History of Events concerning Hughes1921 Hughes Electrical was founded in Lowestoft, Suffolk by Frank Hughes, a young galvanic engineer.1928 Frank bought his first shop and the family liter alto stand byher in ally give outd over it for some years.1946 Frank retired and his sons dick and Jim took over the management of the business.1950 Hughes was determined to get into the Television Age.1953 Hughes had gained experience installing numerous televisions in Suffolk.1962 Hughes began its expansion, when it barter fors Norfolk radio in owing(p) Yarmouth. The Hughes Company then had 5 shops all trading within 10 miles of Lowestoft and all change or renting televisions, audio results and home appliances.1970 Further expansion into the Norwich theater in 1972, Ipswich in 1976 and Bury St Edmunds in 1979.1980 Hughes Electrical increase range has expand enormously during the last 2 decades as video recording and digital applied science decipherableed up all unseasoned consumer markets.1985 Video cameras were introduced and with increasing miniaturisation became camcorders and recently digital camcorders.1990-2003 Effectively Hughes has been using the resembling tried and tested methods to stay a successful business for many years, and I expect many more years to come.Hughes has evolved from (in 80 years.)Type of organisationHughes Electrical is a local High route retailer based in Norfolk and Suffolk. They qualify in supplying analogue/digital multi media equipment for purchase or hire much(prenominal)(prenominal) as Television, Audio and Camcorder ( electrical and audio goods). Hughes as good has a large range of sign electrical harvest-feasts (s meat and large white goods), which are also available to purchase or hire. They take great pride in their convergence knowledge and provide a intact in syndicate redevelopment facility for goods in and out of warranty. Hughes operates from the tertiary sector, this is a growing industry and Hughes is already intumesce developed, this is a strong profit to Hughes.What makes a business successful?In theory a business needfully to follow the four ps to be successful, these are crossing, place, price and promotion. harvest-feast This is the thing that is universe sold, either a help or an object, the keep company testament need a good product that sells well and creates a lot of gross for the business.Place This is where the business is located, which is signifi stinkert if the company is a store, but less of crucial if the company is catalogue order for instance. bell The price must be graceful to the consumer, and combative, so that there give be a smooth cash range through the business. This is healthy for the consumer and the business. promotional material The promotion is the way in which the business promotes a improvement or a product, unless the product is well known already this volition be an other crucial calculate in the companys gross sales.How Hughes are successful in their product.Hughes is hugely successful in this area, they offer a full service to their customers, and this involves hiring out their goods or selling them directly. All products nonplus a 12-month guarantee, which in this time if the product develops a switch it ordain be fixed unembellished of burthen. Any rented product will be installed free of charge.Customers will find this genuinely satisfying, because they know that if anything goes wrong then they can take it keep going no questions asked.Hughes is well known for selling electrical goods and at low prices, this is a good market to be selling to, because the demand for electrical goods will ceaselessly be big. This is because engineering science is ever changing, while reading the history of Hughes, I noticed that when a late product or technology is released Hughes is nigh always the first company to sell them.Hughes sell well-known trusted trademark na mes, this works in their favour in the long run, although the product not being the cheapest available on the market, they are well known and trusted, so they are more popular and sell better.Some examples of their products are shown belowSite location lose it of Site (Norwich, Castle Mall.)Why Hughes location is successful and unsuccessful.Hughes is located in the move Mall Norwich. This is a busy shop mal, which captivates people from families to teenagers.The shop itself is situated next to Argos and the Sony plaza. All three stores are probable competitors. This may be an advantage, because they all need to attract similar customers, it also mover that theyre prices must be competitive to win sales over the other two outlets. Hughes is very soft to get to for customers, because it is opposite an escalator and an elevator. The fortification stroll has its own parking facilities, so that customers to the mall can park very close. The whole of the castle mall is under real m and which means customers can shop some(prenominal) the weather is like. The range of other types of shops such as clothes, food and services is a bonus to Hughes, because customers even going to the picture palace may end up browse through the store. Customers can go to the obtain mal and buy all of their products in one go as well.The all prejudicious point is that Hughes must coincide with the castle malls opening hours, e.g. they are not permitted to open on Christmas twenty-four hours. Hughes will only on the loose(p) a minute profit.I solve with the castle mal is Hughes strongest positive side, because it helps them attract undated customers.How Hughes prices its products to be more successful.As explained in the location, Hughes is situated next-door to competitors Argos and the Sony Centre. The three stores are incessantly trying to undercut each others prices. This attracts new customers, who are concerned in the low prices.Price wars are healthy to the customer, because it drives consume their prices, it helps keep the businesses on their toes and alert, because they need to keep their costs down to make a profit.Hughes has got their pricing perfected, customers seek the store notice this, and always come back.How Hughes is successful in promoting its products.Here are some of the known methods of promoting a product* Price promotions.* Commercial Advertising (Radio, Television, Newspapers.)* Coupons* Competitions and prizes* customary user / loyalty incentives* Point-of-sale displays where the product is placed in the storePromotion is the area in which I ideate Hughes needs to improve. I believe Hughes is earnestly advertised and has little publicity.My questionnaires primary precedent is to find the public awareness relating to Hughes. primordial ResearchPrimary research is a type of researching. This method of research can be very time consuming. The antithetic primary researches are* Questionnaires* Interviews* ExperimentsFor my primary research I exact refractory to indite a questionnaire, as it is effective and prosperous to make and distribute, because I will only need to question two people. I will distribute it to the manager of Hughes. I will distribute another to a competitor of Hughes (Manager of Argos Castle Mall.)Example Questionnaires.Questionnaire (Manager of Hughes.)Do you have in mind that the location of your store is charm for your product?Which features of the location do you see attract the most customers?Do customers have difficulty locating the store?Do you think Hughes is competitive with its pricing? make reasons why/why not?Do you think your store advertises successfully?Does your store plan carefully where the products are placed, to maximize sales? Please give an Example.Questionnaire (Manager of Argos.)Do you think that the location of Hughes is appropriate for its product?Which features of the location do you think attract the most customers to Hughes?Do you think custo mers have difficulty locating the store?Do you think Hughes is competitive with its pricing? launch reasons why/why not?Do you think Hughes advertises successfully?Do you think Hughes plans carefully where the products are placed, to maximise sales?Secondary Research.Secondary research is research, which has already been carried out. It comes in two separate forms, interior(a) and external.Internal sourcesInternal research has already been collected, by the company and is free and easy to use.External sourcesExternal research is research, which has interpreted pace external of the business, it has no objective and so is a very ecumenical guide.External resources I could use* Newspapers* meshwork* Magazines* LibrarySecondary research is very cheap and easy, I have decided to look on their website to find out a little more or so Hughes, as it may help me to make preachations.Our Service PledgeHughes Electrical has always put its customers service requirements first. We are ca pable to mitigate nearly all brands of electrical products and employ over 100 engineers who do just that.We want you to come back and shop with us once again and again and we know that you will only do so if you are happy with both(prenominal) our prices and service.Our pledge is to provide our Internet customers with an later-sales service which is as good as that enjoyed by the customers of our 35 high street stores, and to support as much circumspection to your requirements by and by your purchase as we do before. ingathering GuaranteeAll of our goods are supplied with a minimum of a 12 months split and labour guarantee starting from the day of de anticipatery.In event of a time out within the guarantee periodIn event of a misplay we recommend that you initially consult the adviseion manual which is provided with your product, there is normally a a great deal asked questions section at the back of the manual which often resolves what was thought to be a problem.If the fault persists and the product was purchased from one of our shops, recreate call your nearest service centre for attention come home details can be found in the contact us section.If the fault persists and the product was bought online, enthral email us at webservicehughestv.co.uk or call our help line on 01473 275887 so that we can provide speedy assistance.If this fault is within 28 years of purchase we will either erect to collect the goods and exchange them, or if you would prefer issue you with a full refund.If the fault is after 28 days of purchase but before the expiry of the guarantee, we will, at our discretion, either collect the souvenir from your house for inspection and if necessary carry out a repair at our service centre or we will instruct an engineer to inspect and repair the event in your house.It is your tariff to pack the goods adequately for our collection as Hughes Electrical will not let in any state for damage caused by inadequate packaging.I t is outstanding to note that if Hughes Electrical incurs a charge for service or carriage for an item that is not faulty then we backwardness the right to charge this amount to you.In event of a fault outside the guarantee periodIf the fault occurs after the expiry of the manufacturers or extended guarantee then we will offer you a chargeable repair service.We recommend that you consult the instruction oblige provided with your product and pay particular attention to the Frequently Asked Questions in the back.Portable items and televisions up to 28 inch will be collected for repair in our workshops. It is your responsibility to ensure adequate packaging of these items as Hughes Electrical will not accept any responsibility for damage to the product while it is in transit.Major kitchen appliances and 32 inch plus televisions will be repaired by our agent in your house. If you live outside East Anglia, we will advertise you of a suitable agent who will undertake the repair to you r direct instructions. If you live within East Anglia then we will undertake the repair ourselves.