Semester One 2012
Ahmed Saber Mukit
Submission Deadline 19th December 2012
HMV which stands for “His Master’s Voice” is a British entertainment company which mainly known as a recording label. Currently the company has operations in 4 countries United Kingdom, Ireland, Hong Kong, Singapore; and they have 273 stores in all over these 4 countries. The company is also a public limited company listed on the London Stock Exchange. In the early day the company used to only sell albums and sign artists the now the company had to change themselves in order to compete with the fast moving world. So, now the company has an e-tailing site where they and sort of entertainment goods starting from smart phones, iPod, iPad, speakers & headphones, games, DVD movies, Blu-ray and everything. The site also allows their customers to buy music online and download games. The company also provides tickets to the customers for shows all over the United Kingdom, so the HMV customers are easily getting what they want on the company’s website. Recently they launched under their “The Studio” section where they sell clothing and accessories. They also sell books and poster. So the company sells various kinds of product under one name.
The first HMV store was opened in Oxford Street in 1921. In their logo the dog’s name is Nipper is listening to His Master’s voice over the gramophone. In 1966 the small HMV store started expansion as it was getting popular, and after ten year with thirty five HMV stores it was the largest music retailer in the United Kingdom. The company had operations in Australia, United States of America, Japan and India. Some of them were closed and others were bought by other music company. Due to huge completion the company could not survive in these countries. This 90 year old company’s motto is to bring the artist and the customers closer.
What is a SWOT analysis?
SWOT analysis is a marketing research method which help’s an organization to evaluate its Strength, Weakness, Opportunity and Threat. A SWOT analysis can be carried out for a product, place or person. It also involves identifying the objective of a business or a project. It identifies the external and internal factors of a business which can be favorable or unfavorable to attain the objectives.
* Strength –A company’s specialty which will give them competitive advantage. * Weakness – A company decline sector which cost the company to have a disadvantage in the competition. * Opportunity – External chance to improve the company. * Threats – External elements in the environment which can cause damage to the company.
* Extensive market presence: The first HMV store was opened in 1921 at 363 Oxford Street, London. Since then till now HMV has gone on to open 200 stores all over UK and approximately 20 live entertainment venues and festival. (http://www.hmvgroup.com/about-us/facts-and-figures.aspx) This activity enables them to have a major marketing advantage. They have one step solution for music lovers; all of their stores are located in prime shopping district which means more human traffic. They provide physical outlet for giving preview on upcoming CD’s and movies.
* Established entertainment brand: Since HMV was one of the first label company, they are very well established in the music industry. Famous artiste/bands like rolling stones, Beatles have recorded labels with HMV and all this bands are at top level in the music industry. Because of this they can allow consumers to get badge autographed by celebrities.
* Lack ok marketing: If there is no brand awareness then consumer will not be encouraged to consume HMV’s product. ---
* Locations: they have a very limited location because the only focuses on prime shopping areas.