Harrods Essay
Brand Audit - Harrods
A Marketing Audit on the brand Harrods on how it markets its products to the British market.
Marketing Management
CHAN LI, Dixie Embleton, Hsin Yi Lee
14/10/2014
Contents
1. Brand Introduction 1
2. Marketing Environment 1
2.1 Micro-environment 2
2.2 Macro-environment 3
3. SWOT Analysis 4
4. Recommendations 7
REFERENCES 9
APPENDIX 13
1. Brand Introduction
Harrods is a department store located in London, and founded in 1834. Global blue (2014) who offers advice to foreign travelers view there is much more to it than a department store, quoting “Harrods is a British institution, rich in history and romance, shaped by its owners and customers and, above all, its staff.”
Harrods is famous for being luxurious and its British heritage and they know the importance of their brand …show more content…
It would be expensive for another company to set up and they wouldn’t have the space or location. Harrods takes up 5 acre space and over one million square feet (My Private Brand, 2011).
Harrods has a great access to supply chains, providing a massive range of luxury products, giving a chance to consumer to experiment with other brands (UK essays, 2014). Harrods is in a great position with suppliers having a low bargaining power and there buyers having a high buying power.
Threats:
London has been a target of terrorist attacks and threats; putting people off from visiting the city and Harrods. Also London experiences very busy shopping periods such as Christmas and this again puts people off from going in store and they are not able to see what Harrods Brand has to offer.
The trend of online shopping could be used as a strength, but a concern would be that, what Harrods is all about is the experience you get from visiting the luxury store maybe lost on online shopping.
4. Recommendations
4.1 Harrods could create or buy a new
A Marketing Audit on the brand Harrods on how it markets its products to the British market.
Marketing Management
CHAN LI, Dixie Embleton, Hsin Yi Lee
14/10/2014
Contents
1. Brand Introduction 1
2. Marketing Environment 1
2.1 Micro-environment 2
2.2 Macro-environment 3
3. SWOT Analysis 4
4. Recommendations 7
REFERENCES 9
APPENDIX 13
1. Brand Introduction
Harrods is a department store located in London, and founded in 1834. Global blue (2014) who offers advice to foreign travelers view there is much more to it than a department store, quoting “Harrods is a British institution, rich in history and romance, shaped by its owners and customers and, above all, its staff.”
Harrods is famous for being luxurious and its British heritage and they know the importance of their brand …show more content…
It would be expensive for another company to set up and they wouldn’t have the space or location. Harrods takes up 5 acre space and over one million square feet (My Private Brand, 2011).
Harrods has a great access to supply chains, providing a massive range of luxury products, giving a chance to consumer to experiment with other brands (UK essays, 2014). Harrods is in a great position with suppliers having a low bargaining power and there buyers having a high buying power.
Threats:
London has been a target of terrorist attacks and threats; putting people off from visiting the city and Harrods. Also London experiences very busy shopping periods such as Christmas and this again puts people off from going in store and they are not able to see what Harrods Brand has to offer.
The trend of online shopping could be used as a strength, but a concern would be that, what Harrods is all about is the experience you get from visiting the luxury store maybe lost on online shopping.
4. Recommendations
4.1 Harrods could create or buy a new