Qvc Inc Analysis Of The Company. Strategic Business Plan

2028 words - 8 pages

QVCEXECUTIVE SUMMARY:Since the company was founded in 1986 QVC Inc. has relied on strategy and innovation to secure a commanding role in the service retail industry. Over the years QVC has forged a solid reputation as being both a model of efficiency and profitability throughout the business world (Biesada 01). The challenge that the company faces is determining a way to remain competitive in a changing economic climate. The business model must adapt to changes in society and technology. The strategic options of the firm are largely in response and correlated to the external environmental factors at play. Growth and competitiveness will be sustained through the following steps: Global expansion of retail services, expanding the capacity for online retailing, and attracting a wider consumer base. The answer to the dilemma is not which road to take but to instead invoke the correct formula of strategic actions and resources. The strategy that prevailed was the most logical plan with a moderate level of risk to the company.CASE FACTS:A sharp rise in the demand for electronic retail services has opened the gates for competitors of all sizes to try to grab a piece of the market share. The barriers to entry in the industry were essentially struck down with the rise of e-commerce, leaving anyone with a computer in a position to become a retailer and a vendor. Despite the inflow of competition, QVC was in a pretty good position to use experience and resources in the industry to capitalize on the opportunity. The establishment of the IQVC internet shopping center and well developed interactive television retail business were two steps in the right direction. Retail operations were extended to the UK, Japan, and Germany. The changing dynamics of the manufacturing have changed the profit margins of electronics and technological devices which once accounted for 30% of the company's sales forecast (QVC).The average QVC TV shopper is 45 years old, married, and went to college.Internet commerce allows for the sale of different products than. Items that are smaller and demanded by a different demographic such as DVD's, CD's, and books are easier to sell online.ANALYSIS OF THE EXTERNAL ENVIRONMENT:The external environment that affects the business structure of the company can be analyzed and applied to form strategic plans for the company. To begin, it is necessary to consider the change in socioeconomic structure over the past decade. The economic environment has changed as more women enter the job market and deliver a second income to many families. Globalization has allowed QVC to enter markets all around the world. The company has seen new opportunities in these foreign markets. The demand for convenience quality and value throughout the shopping experience has been steadily increasing. Consumers have grown tired of the hassles and headaches of department stores (Eisner 134). Technological changes to the general environment can be seen as an opportunity and a...

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