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This Is An Essay About B&Q Company's Market Environments In Uk

6637 words - 27 pages

Executive summaryB&Q is the largest home improvement retailer in UK, at the moment experiencing a sales decline within the domestic market. The current weakness showing in negative results is general to the retail market although the domestic competitors have not been affected likewise. The negative development is balanced by the increasing growth in foreign markets such as the Asian market experiencing a rapid growth to continue.The DIY concept former essential to the retail industry has been replaced with a new concept being 'home improvement' targeting a new customer group being the women. The women are representing a buying power only to develop further in the future.By using relevant analysis and models the development has been described giving an overview of what steps B&Q must pursue to regain domestic market shares and position.The analysis concluded five areas of which B&Q is recommended to take into consideration. The strategic options covers the concept of 'home improvement', directing the new target group being women, integration of the Internet, focus on cost-reduction and using experience and size to gain competitive advantages at primarily non-penetrated markets.IntroductionAs stated in Financial Times (2006) "Things can only get better seems to be the mantra of the UK do-it-yourself market". The market development has not been beneficial when evaluating the UK accounts, however better results are proven within the European and Asian market (Tran, 2006). The reduction within sale at the British market is described to be caused by a general weak market demand, a slowdown within the housing market as well as higher debts and bills (Walsh, 2006).B&Q is a part of the Kingfisher, at the moment the biggest retail brand accounting for 50 per cent of the annual sales (Rigby, 2006). The Kingfisher also covers retail brands as Castorama, Brico Dépôt and Screwfix Direct located in Europe and Asia (Tran, 2006). B&Q faced a global market when approached the Asian customers in the late 1990s, a process made possible and based on cooperation with local government seeking foreign investment (The McKinsey Quarterly, 2006). The learning's gained from being a part of the Asian market is likely to be transferred to other parts of the Kingfisher.The industry itself no longer voice the term DIY earlier highly popular as referred in the Guardian (2006) reporting "Doing it yourself is no longer the consumer obsession that it was in the 1980s". DIY has been replaced with a new trend called the 'home improvement' concept targeting another group being the women. The rationale behind this new concept is based on assumptions of the female shoppers as referred by Finch (2006) saying "The rationale is that B&Q must work in its female appeal because women make 80% of the decisions about home improvement projects". One could question, or even challenge, the assumption when considering the development in the society telling that...

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