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Strategic Marketing

Recently we are facing global financial crisis. This has led to decreasing stock prices, less consumer spending and less commercial activity. In short the economy has gone into recession. It is also affecting Currys. digital retailing business as the parent company stock prices in FTSE is plunging, consumers has cut down their spending on durables and luxurious items. The profits are decreasing and Currys. digital has to take unpopular actions of cost cutting and employees layoff. If Currys. digital goes global in Asian market, it will face a problem as pound is an appreciated currency relative to currencies in Asian countries.

Thus the Currys. digital’s product will look expensive in Asian market where it will face strong competition from Chinese, Japanese, and Taiwanese made cheap products. Social The lifestyle of people is changing drastically preferring more privacy and small portable items. This changing trend is ensuing people to have personal portable laptops, cameras and audio and video consoles. Thus Currys. digital has a customer base for portable devices and it can increase its market share and sales by offering the small version of electronic items (Morley 1992). With the increasing income and standard of living, people have become more health conscious.

Currys. digital has the advantage if they promote the new version of electrical products which offer more safety and is environmental friendly (Morley 1992). The ideal example is promoting LCD television sets in order to induce customers to get away with their old Oscillatory Cathode Ray television sets which are harsh on eyes and consumes more electricity. Thus recognizing the subtle social changes, Currys. digital can have new ideas to promote its inventory effectively to its potential customers. Technological The computers, cell phone were the breakthroughs in technological advancement.

But now the world has not seen any such technological advancement recently and therefore the market of Currys. digital has almost saturated. The electronic products are now present in almost all the households. Now the retailers like Currys. digital need almost new products to attract huge customer base. The problem is that the products retailed by Currys. digital are of single purchased nature. They rarely induce repeat purchase by customers who have little marginal utility for new enhancements in laptops and digital cameras in this world of high cost of living (Buckingham & Scanlon 2002).

The whole of UK is going through digital switchover process which will be completed till 2012. By that time analogue television broadcast signal will be replaced by digital ones. This requires that the television sets in the household should be replaced with digital compatible sets. Currys. digital being the market leader in retailing of television sets has the opportunity to make the increase sale of digital television sets to customers (Linsley 2005).

And it has already started to operate in the switchover process by regularly attending Spectrum Planning Group and the Digital Stakeholder Group where it gets updated about new happenings in the switchover process (DSGi plc 2008). Furthermore Currys. digital is also providing technical assistance to its customers through its trained employees and engineers so that customers get familiar with the new digital technology. Currys. digital’s instruction manuals, prior to purchase equipment evaluation tests and special service packages are all its strategies to make the customer’s life easy with digital television sets (DSGi plc 2008).

Strategies and Recommendations Currys. digital will benefit if it expand into Asian market which has developing countries whose people still do not have modern hi tech devices. Currys. digital can earn a huge market share in Asia by offering products at reasonable price because Asian consumer electronic market is still in the growth stage of the product lifecycle. The people in Asia are now in a stage of transformation from traditional to modern western lifestyle. Thus they aspire for hi tech electronic products and gadgets and Currys. digital can fulfill their aspiration by following growth strategy.

For the purpose of differentiation from the other competitors, Currys. digital can invest in out of town stores. It already owns out of town stores but more investment is needed in this sector as it represents good marketing opportunity. Moreover Currys. digital in association with manufacturer can provide customers new offers such as new for used goods at discounted price. This will induce customers for repeat purchase and create long term relationships with them. This requires that Currys. digital should have good understanding with the manufacturer of electronic items and have the power to persuade them for allowing such offers.

The example is promoting high quality DVD players at reasonable prices if consumers return their old CD players or cassette players. In the situation of financial crisis, Currys. digital can play a positive role in helping customers who are struggling with their impaired appliances and cannot purchase the new ones. It can provide better after sale services, repair facilities, recycling of waste items. Thus these activities are very helpful in regaining customers’ confidence in the economy and making them expend intelligently to slowly revive the economy.

Free gifts, donations, community services and in-store promotion can do much to help people come out of this harsh time and it will benefit Currys. digital business in the long run. Volunteering in educating community people how to best use electrical device to make their life longer and giving small gifts such as USB, head phones etc through different types of competition are two such examples (Stone 2007). Bibliography: Buckingham, D. & Scanlon, M. (2002), Education, Entertainment and Learning in the Home, 1st Edition, Open University Press Drummond, G., Ensor, J. & Ashford, R. (2007), Strategic Marketing: Planning and Control, 3rd Edition, Butterworth-Heinemann DSGi plc (2008)

Welcome to DSGi plc {online} available from <http://www. dsgiplc. com/Layout. aspx? CatID=95c3cceb-b085-4882-9380-919fc28eaabd&ID=5aad56ce-5794-4928-8d1a-4923e120929d> [27 October 2008] Linsley, T. (2005), Advanced Electrical Installation Work, 4th Edition, Newnes Morley, D. (1992), Television, Audience and Cultural Studies, Routledge Stone, M. (2007), Fundamentals of Marketing: A Critical Evaluation, 1st Edition, Routledge.

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