London School Of Commerce (LSC)
Business Report on HMV
Zoeb Hassan- ID 0011OTOT0608
Kazi Iffrite Hossain (Dinggi)- ID 0002MSMS0212
Nazmul Sakib- ID 0013MSMS0212
Md Didarul Alam- ID 0032OTO1012
Tarique Huda- ID 0031OTOT0208
Maimur Ferdous- ID 0031MSOT0611
HMV is an exceptional brand. HMV products continue to remain ahead in the entertainment market. There are 243 branded stores of HMV in the UK and other parts of the world such as Ireland, Hong Kong and Singapore. Whilst in the past few years the company has been through many challenges; it had gone through a number of important hurdles. ISSUES –
The first problem that HMV is currently facing is that their economic climate is declining. This issue had led them to close down 60 HMV stores. The next issues HMV are facing are that the amount of privacy and illegal online downloading is increasing as the time passes by. “Report suggests more than 1.2 billion tracks were pirated or shared”. (BBC, 2010) Another hurdle HMV had to face is the increasing amount of competitors who are taking over their market share in the industry. Simon fox in the Guardian (2012), that growth of supermarkets have affected HMV and result them into poor sales. An analysis has been made after detecting all the issues that HMV are facing currently. Marketing strategies will be applied to make HMV economic climate better and generate HMV product sales.
| Page No.
| Marketing Environments
| S.W.O.T Analysis
| Smart Objectives
| Proposal Of 7Ps for HMV
| List Of references
HMV Group is one of the UK’s leading specialist retailer based on music and entertainment (games, movies, books digital technological products and etc). It is a public limited company established in 1921. HMV symbolized them self throughout the world by its iconic ‘His Master’s Voice’ dog and trumpet trademark. HMV Group is also investing into live venues festivals. (hmv.com) Trevor Moore is the chief executive manager of the HMV and he has been appointed on 3rd September 2012. Objectives of HMV:-
HMV is focusing on their core markets as the packaged media are changing. They are fixing the store space and trying to generate sale of the high-growth portable digital technology products. (HMV Group, 2012) HMV next motive is to make their live shows more popular among people. They are developing their activities in HMV live and HMV tickets. The third objective of HMV is to increase their ticket shares market. At the moment they share one billion pounds in the UK ticketing market. HMV ticket supports festival business and it also attracts promoters to promote events. (HMV Group, 2012) Multi-Channel Retailing:-
Physical Store – They have 700 stores all over the world. The products can be feel attributes, browse and touch. Online Store- HMV sells tickets online which is an advantage for the customer. They can keep the tracks of the show and their venues online.
The music or the entertainment industry is an imperfect all oligopoly market. These types of industries are fast moving and very competitive. The motive of the companies is to capture as much as market share as possible and new companies try to enter into this aggressive industry
Consumer Buyer’s Behavior:-
HMV retail shops are providing wide range of products to the customers. They try to provide best possible experience to their customers. HMV carries out regular market research and lined up their products accordingly. As a result HMV was titled as the high-street retail brand of the year at Music Week 2012 Awards. HMV was the winner of Best Bricks and Mortar Retailer at the British Video Association 2012. (hmvgroup.com) HMV creates satisfactory offers based...
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