Sunday, April 28, 2019
Marketing Environment of Hugs & co Essay Example | Topics and Well Written Essays - 750 words
Marketing Environment of Hugs & co - Essay ExampleHugs take into deep consideration the natural resources within its environment to protect its interestingness in raw materials. This signifi fagtly improves its entrepreneurial opportunities and in the process their sales and revenue are increase (Ferrell & Hartline, 2011,p.122). According to Rhodes (2002), Hugo & Co social club is tremendously influenced by the political and legal factors. These factors are necessary in the marketing process because the company is involved in international operations. The Company exports and imports goods from different countries, therefore, require a conducive political and legal atmosphere to promote the ease of marketing of their products. However, the political and legal factors can negatively affect the operations of Hugo & Co Company by their unfair policy which leads to a wear and tear in the profits and revenue within the company. Hugs & Co Shoe Company belongs to the B2C market because of its the demographics and psychographs in use and also the consumer behavior of the majority of its customers. The consumers are drawn towards the product produced by the company because of the legion(predicate) advantages and usefulness of the loafer-shoes produced by the company. The company use the psychographs to allow them take into account their customers interest, values and attitudes, whereas, the demographics are capable in providing for company in classifying their buyers, therefore creating value for them through the products they offer. This might involve providing information relating to targeted auditory sense age, in answer or social class. Competition Analysis of of Hugs & Co Shoe Company Hugo has both weakness and durability that...This has greatly influenced the brand name positively, therefore attracting new and retaining existing customers of the product brand produced by the company. In addition, Hugo has the opportunity of competing favorably compared to a nother(prenominal) products because they are diverse in their products. However, Hugo & Co Company is vulnerable to other companies because the management finds it difficult to accept change within the company. This is a destructive tool because new companies come up with more technological advanced products and are also flexible enough to conduct their operations with the changes in time and even environment. Hugo Co & Company is also not well advanced in marketing ways and in the process are not good attracting new customers to their product. This tremendously affects negatively their ability to compete favorably in both local and international markets (Mcdonald, Smith & Ward, 2007, 229). Hugo Co & Company faces stiff competition from other companies in London producing priapic footwear. These companies include Alfred Sargent which manufactures males shoes and is based in Rushden, Northants. The second major competitor is the Sanders and Sanders Company producing males formal and leisure shoes and is based in Rushden. Lastly, Grenson acts as the third major competitor of Hugo Co & Company by producing a verse range of male shoes and boots.