MKTG2100 Group Situation Analysis |
The primary goal of this report is to provide an analysis of the company JB Hi-Fi. In particular the report highlights the industry trends of the consumer electronics retail market as well as focusing on how JB Hi-Fi’s segmentation, targeting and positioning strategies. Consumer behaviour is also analysed using the buyer decision process as well as other factors such as culture being identified as important to JB Hi-Fi’s strategical approach.
The core of the report contains detailed analysis of the marketing mix, competitive situation analysis and use of the PESTLE. These examined how the company creates value in its current environment as well as the impact of external influences.
Lastly the report identified JB Hi-Fi’s recent expansion into the whitegoods markets with as a potential opportunity for the company to grow and expand into other industries, thereby repositioning the brand in the minds of consumers.
Table of Contents
Executive Summary 2
Industry Trends 6
Target Markets 6
Consumer Behaviour Issues 7
Marketing Mix 9
Physical Evidence 10
Competitive Situation 11
Factors Indicative of Intentions and behaviours 11
Comparison between Marketing mix and STP Model 12
Macro Environment 13
Aging Population 13
Australian Dollar 13
Free Trade Agreements 14
Online Shopping 14
Advancing Electronics 14
Consumers Have Limited Time 15
Healthy Lifestyle 15
SWOT Analysis 16
Opportunity Identification 18
Reference List 21
JB Hi-Fi is an Australian retailer of computers, electronics and home entertainment systems. With its headquarters located in Melbourne, the company opened their first store in 1975 and have expanded over the years to nearly 200 stores across Australia and New Zealand.
The JB Hi-Fi slogan is ‘JB, You’ve done it again’ which was often included in TV advertisements along with images of breaking glass. This was to suggest that JB Hi-Fi was in the business of ‘smashing’ prices (providing great pricing)
Recently JB Hi-Fi has entered the whitegoods retailing sector by re-branding selected stores to ‘JB Hi-Fi: Home”.
JB Hi-Fi and its home entertainment segment competes in the consumer electronics retail industry with product offerings including televisions, speakers, disc players & recorders (JB Hi-Fi, 2015). This particular industry has experienced significant growth over the past decade, a result of technological developments such as the flat screen, high definition and 3D technology. These developments saw up to 99% of Australian households owning a television in 2012 (ACMA, 2012). However,...