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How can Hughes Electrical improve it market Share?

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Introduction

Business Studies Coursework Name: - Richard Rutter Candidate: - 3186 How can Hughes Electrical improve it market Share? Aim: o To find out how Hughes Electrical increase its market share. In order to do this I will need to: o Research the history of Hughes. v o Plot where Hughes retail outlet(s) are in Norfolk. v o To research how location, can help Hughes, increases its market share. o Research what types of products they sell. o Find out what their target audience is. o Research the known methods of promotion. o Distinguish, which methods will be suitable for Hughes. o Recommend how Hughes can increase its market share, in the next five years. Objectives: o Find out what their performance has been like during the last 2 years. o Compare them to a successful competitor (Argos.), to see how they're differing and if they are more or less effective. History of Events concerning Hughes: 1921 - Hughes Electrical was founded in Lowestoft, Suffolk by Frank Hughes, a young electrical engineer. 1928 - Frank bought his first shop and the family literally lived over it for some years. 1946 - Frank retired and his sons Peter and Jim took over the management of the business. 1950 - Hughes was determined to get into the Television Age. ...read more.

Middle

The range of other types of shops such as clothes, food and services is a bonus to Hughes, because customers even going to the cinema may end up browsing through the store. Customers can go to the shopping mal and buy all of their products in one go as well. The only negative point is that Hughes must coincide with the castle malls opening hours, e.g. they are not permitted to open on Christmas day. Hughes will only loose a minute profit. I conclude with the castle mal is Hughes strongest positive side, because it helps them attract endless 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 constantly trying to undercut each other's prices. This attracts new customers, who are interested in the low prices. Price wars are healthy to the customer, because it drives down 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 browsing the store notice this, and always come back. ...read more.

Conclusion

It is your responsibility to pack the goods adequately for our collection as Hughes Electrical will not accept any responsibility for damage caused by inadequate packaging. It is important to note that if Hughes Electrical incurs a charge for service or carriage for an item that is not faulty then we reserve the right to charge this amount to you. In event of a fault outside the guarantee period If the fault occurs after the expiry of the manufacturer's or extended guarantee then we will offer you a chargeable repair service. We recommend that you consult the instruction book 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 notify you of a suitable agent who will undertake the repair to your direct instructions. If you live within East Anglia then we will undertake the repair ourselves. Richard Rutter, Business Studies Coursework Page 1 ...read more.

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