Michael Hill Assignment Example | Topics and Well Written Essays - 4500 words

Michael Hill - Assignment Example 14 E-Marketing Mix Tactics 14 Price – the strategy 15 Internet for Distribution – the length, the functions, members, B2B, B2C and C2C and management 16 Communication – the applications of Integrated Marketing Communication (IMC) in the E-environment including Texting, Blackberries, IPhones, wireless network etc. 17 Customer Relationship Management – the contribution of the website in CRM (Personalisation) 17 Organisational structures for implementing the plan 18 Budget (learning outcome 3) 18 Forecast revenue 18 Evaluate costs to reach goals 19 Evaluation Plan (learning outcome 3) 20 Identify appropriate performance indicators 20 References 21 Brief Introduction of the Organization Our organisation is called Michael Hill; this company generally provides jewellery. Michael Hill is an international company; it started in New Zealand since 1979. This business has been started by Sir Michael Hill and his family in Whangarei. However, Michael has extended his stores in all over New Zealand. In 1987 the company has been extended into Australian market. In 2002 the company has opened its first three stores in Canada as well as the company has established in United States. In the end of 2009 the company had 242 stores in New Zealand, Australia, Canada and the United States. The robust growth of the organization since its inception in 1979 was marked by successful accomplishments that included the awarding of its originator, Michael Hills, as one of Ernst & Young’s Entrepreneur of the Year in 2008 (Michael Hill: About Us, n.d.). Its craftmanship in diamonds and watch making are the organization’s core competencies, in conjunction with focus on exemplary customer service. Industry Analysis Strengths (In Michael Hill) Michael Hill Jewellery has some strength which can help them to get better position in their E-Marketing. People in New Zealand know Michael Hill since 1979, so they trust Michael Hill Company. As well as people bel ieve that Michael Hill applies a pricing strategy that focuses on providing low prices through price promotional strategies, yet, good quality. Another reason that makes the firm to stand out is the continual revenue growth, which is a successful outcome of the organization’s core competencies in watch making and diamond craftsmanship. Weaknesses (In Michael Hill) The weaknesses that were noted in the organization includes locating New Zealand stores close to each other, particularly in the northern part of the country (in Glenfield, Pukekohe, and Sylvia Park), as well as in the middle portion (Upper Hutt and Johnsonville) where potentials for increasing market shares are diminished. Likewise, due to the number of stores in New Zealand, the organization carries high inventories which are cost intensive and thereby reduces maximizing income potentials. Opportunities (for Michael Hill) The opportunities open for Michael Hill are areas to expand in the international markets part icularly in emerging markets where economic growths are being exemplified; for instance in markets of