Assignment 3 Essay Example | Topics and Well Written Essays - 2500 words - 1

Assignment 3 - Essay Example Customers: The stores of Boots UK are mainly located in well-known localities and streets of UK. Hence, its main consumers are male and females between age group 15-45 years from nearby neighbourhoods. Strength: The primary strength of the company is that it has a well-recognised brand with wide product range. The company is established in the market and has strong reliance on research and development. Weakness: Boots UK considers that location and ambience of its store are outdated, which can prove to be a weakness. Apart from this, analysis showed that the company has little dependence on technologies, which increase processing time of activities. Furthermore, the company also charges comparatively high price. The company has applied SMART techniques to determine goals and objectives. The company is planning to achieve an increase of twenty-five percent in the sale annually. It also has an objective to attract ten percent more male consumers every year, compared to the previous year. These goals are specific, measurable, achievable, realistic and time-specific in nature. Realizing such goals can prove to be company’s competitive advantage. The company has used demographic and geographic segmentation while determining its target segment. Boots UK has placed stores mainly in the high streets of UK; so, the obvious target market of company is individuals from the neighbourhood. From demographic point, the company ensure that both genders, male and female, are its product users and the age range is between 16 and 45 years (Armstrong, Cunningham and Kotler, 2002). In its strategy, the company is planning to implement Ansoff’s matrix to decide upon products for existing as well as new markets. The model was proposed by mathematician, Igor Ansoff. It states that there are four growth strategies that a firm can adopt: Market penetration and product development for existing market and market