Haverwood Furniture Essay

Published: 2020-04-22 08:25:56
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Category: Business

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Haverwood Furniture, Inc.

Q1 How would you characterize the HH wood Furniture Industry? ¢Haverwood L Room & Bedroom
¢Haverwood has own sales force 10 sales/ 2 Reg
¢Upholstered 50%/ Wood 40%
¢Total Ind Sales 3 Mil
¢Top 10 Wood Manu = 1/3 of total sales
¢Asia imports driving down prices (BPuerto)
¢US Manu downsized 100 Manu
¢$15 million sales = 6% mkt share
¢Hwood uses 1000 specialty style (Selective distribution) ¢Gallery concept prevalent
¢Do not have full line in all retailers
¢Do not have galleries in all retailers

Q2 How do consumer buy?
¢94% enjoy shopping
¢Lack confidence about quality or evaluating price
¢95% get redecorating ideas from Mag.
¢84% believe higher price = higher quality
¢72% browse even when not buying
¢Rely on sales people for ideas but want to be left alone to shop ¢85% read ads before shopping
¢Difficult to select styles

Attributes
¢Styling/Design (1)
¢Brand Name/Image (5)
¢Price (4)
¢Construction Quality/workmanship (2)
¢Store Quality/Image (3)

Buying Decision
¢Joint decision
¢Difficult guidance
¢Little Knowledge

Q3 What is the role of Marketing Communications
¢Consumer advertising
oinforms about styles, arrangements
oEmphasize Quality
oDevelops share of mind
¢Company Salespeople
oSell thru as much of line as possible
oSell-develop rapport
oTraining retail sales people product quality %& feature oBuild enthusiasm w/ RSP
o100% sales time
¢Trade Advertising
oPoint of purchase anything that goes on at the time of sale oBrochure take away
¢Cooperative Advertising
oGiven by the retailer but funded by the manufacturing
¢Builds bond between retailer and brand

Q4 Objectives for 2008
¢Broaden advertising incl online
¢Penetrating boomer demo (Buy hi-quality)
¢Lower ad budget if possible
¢Marketing many lines
¢Broaden full line penetration
¢More galleries
¢Reach consumers at critical decision points

Q5 How might objectives be translated into budge?
¢Sales Increase
oLast Year 75 M * 1.04% = $78000000
oSales person option $135000 (SALES)
o5% of 78000000 =
¢3900000
¢3675000
¢225000
o1% = 780000 (AGENCY)
¢562000
¢218000

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