Hmv Business Case Study

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INTRODUCTION

This case study is based on HMV which is one of the largest retailers of music, DVD, videos and games world wide with a large number of stores in major cities in the world.

This investigation covers the different aspects and activities involved in the running of the business this includes the main departments and their various activities and their functions. It also contains an in-depth explanation of HMVs customer service and how the activities are carried out in this department its functions, and how it relates to the other departments.

This investigation is one of the many stores in the U.K it is located in Woolwich and it is a medium sized store with about 30 to 35 employees.

As a business HMV s main activity is selling music and music related products each HMV store sells CDs, DVDs, videos and posters. They also stock all the major consoles like x box, play station 2 and game cube.

Over the years HMV has made use of the World Wide Web to market and sells its goods it has various websites by which customers can buy its goods and services over the internet, this has various advantages because it is safe fast and the goods can be delivered within a week saving the customer time and resources.

The store has various departments and each carries out its own activity and function each is equally important to the running of the business each of the department and functions work towards

Marketing

Finance

Administration

Customer service

Human resources and personnel

Finance

All these activities pertain to the business

MARKETING AND SALES DEPARTMENT

The marketing activities of a business are designed to ensure that there are potential customers who know about the business and its goods or services, and who wants to buy these products it is also has to aim to maximise profits and the businesses potential by finding new areas and discovering different aspects which may make the business successful.

Market research

Hmv has to carry out market research to find out what the market needs and what the public and customers think of the business its products and services and the general aspects of the business market research can be carried out in different methods in which it can be carried out e.g. questionnaires, they can ask specific questions to find out what the customers require and think of the business.

The methods involved in market research:

Once Hmv decides on its target customers, the next stage of the market research is to choose the methods of research

There are two methods which are usually taken up

These are: field research which is data directly collected from the market is used, this is also known as primary data

Hmv uses its sales figures of a particular product to carry out its field research; this is also done by carrying out analysed test to find out the public and customer’s reaction before a new product is introduced to the market.

Primary data is information not already in published form which is obtained by the business some of these methods include questionnaires, interviews, shop floor tests etc

The second method is desk research: this method is used to collect secondary data this is data recorded for a specific purpose such as government purposes, trade figure publications and academic research this research does not have to be done in the field .

The marketing and sales department is responsible for many aspects of the business they have to carry out market research to find out:

· What goods and services the customers want

· What the customers think of the goods and products

· Expected trends in market and in demand for a product

· The strengths and weakness of their competing companies

Promotion:

Promotion is important to the business because it informs the customers about the product and persuading them to buy their products....
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