Case Study on Market Analysis

However, strong brand recognition from the company has seen overcome this problem. Again, the H&B has invested heavily to ensure its workforce has the required skills needed for the growth of the company through internal training and development. (Part A) 1. To remain competitive in a market the company has to well analyze and understand its targeted consumers to as understand their preferences, taste, and choices. In H&B jewellery industry, this is done through means such as educating, empowering and inspiring the women. The affordable designer jewellery will be well established due to its high-quality products and features. This will counter the problem from copycat products from both large and small scale jewellery manufactures operating from the same market. The copycat products are produced to be introduced as close substitutes to the original product.

The high profile and brand reputation of the company will enable it to outdo the danger of new participants to the market offering the same product. Affordable products in the market will enable the company to serve its potential customers regardless of the prevailing industrial rivalry. It was one program in which all employees regardless of their status in the company designed one-off pieces that were potentially sold at H&B’S flagship retail store in Regina. At this forum, not only the most experienced designers had products to sell but it also saw the H&B’s manager emerge on One of Kind Friday as the best-selling designer. The company continued with this tradition launching one of the Kind monthly runs that were sold both online and at a retail location.

Through its distribution, the company realized the importance of communicating the brand's story. Like any other employee in the industry, the chief executive officer (CEO), Mielke, found the most effective way to carry out this was through bricks-and-mortar retail locations. This is because; the company has maintained its high brand reputation in the market. It has maintained potential customer relations as the close interactions with their customers allow clear understanding of each other and get fine feedbacks from their clients. By giving back to the society through organizing events such as charitable donations, they have been able to ensure profitable connections with the customers. Hillberg and Berk’s strategy compared to that of its competitors in several ways. One, by ensuring that the company takes into consideration the importance of maintaining its brand reputation.

This lines and collaborations have seen success and enabled H&B to connect a wider consumer group and markets for their products. On the other hand, in case the collaboration fails to go through, it may lead to fatal loses to the company. If the collaboration does not become successful, the effect to the business may lead to its collapse due to inability to compensate the other side. (c)Due to the rapid growth being witnessed in the Sparkle Collection, H&B has faced a lot of challenges with the supply chain. As the company had sourced its Sparkle Balls from a single offshore supplier, there had been difficulties with the consistent replenishment and quality. This is by ensuring that no complications in the supply system available and allow consistent replenishment and equality.