Situation Analysis

The MarketThe market for quality home furniture is growing rapidly due to a continuing surge in Guyanas housing sector that has resulted in many Guyanese becoming homeowners for the first time. Facilitated by easier mortgage arrangements from the banking sector, the proliferation of new housing schemes, construction of new homes, and the modernisation of existing homes all mean more customers for leading manufacturers and retailers of home furniture in Guyana such as Kissoons Furniture Store.

Company BackgroundKissoons Furniture Store is owned and operated by A. H. & L Kissoon Limited, which is a member of the Kissoon Group of Companies, a distinct and prestigious conglomerate with a long history of operations in Guyana. Throughout its 54-year history, the organisation has been at the forefront of furniture manufacturing, vertically integrating the entire processfrom raw materials to finished productsto ensure that only furniture of the highest quality and finest finish end up in the hands of Kissoons customers.

Marketing StrategyThe companys marketing strategy is one of differentiation in that Kissoon is seeking to command a premium price for its furniture and out-compete its rivals by ensuring that the quality of its products renders them distinct from and superior to those of its rivals, giving customers a lasting reason to prefer Kissoons Furniture Store above the competition.

Product MixCurrently Kissoons offers a wide variety of furniture and furnishings in the categories indicated below and on the stores website.Bedroom Wardrobes Vanities Chest of Drawers Night StandsDinning Room Dinning Room Suites Wall Dividers Tables & Stools

Living Room Suites Chairs Tables TV StandsOffice Computer Stations Desks Filing CabinetOutdoors Bar & Stools Patio Table & Chairs Pool Side Table & Chairs

CompetitorsAmong Kissoons competitors are some businesses that are exclusive retailers of furniture and others that retail furniture as a subset of wider offering. An analysis of the companys two leading competitors follows.COURTS Furniture & Appliances Store Ongoing sales promotions Direct marketing (primarily offline; occasional printed flyers in Sunday newspapers) Easiest hire purchase and down-payment arrangements Social media presence High variety in furniture category Wider offering, not limited to furniture alone Established brand and most store locationsMELSHAS Home Dcor Wide range of quality furniture No hire purchase arrangements No social media presence Limited use of direct marketing Only one store location

Target Audience

Research and statistics from the housing ministry suggest that about 35% of those taking advantage of Guyanas current home ownership and construction boom are young, working professionals between the ages of 25-35, taking a big first step together into building their future. They are in some cases recently married or are contemplating marriage. Other characteristics of the targeted demographic that predispose it toward the offering and render it more amenable to the tools of the Furnish Your Future IMC program are detailed below.

Target Segment A[PIC] [Name] [Income]

Motivated by achievement

Conservative, traditional and conventional

Well-informed about national and global events

Values order, knowledge and responsibility

Looks for durability, functionality and value when purchasing

Target Segment B[PIC] [Name] [Income]

Undergraduate degree holders

Frequent user of Smartphone, Tablets, Laptops

Takes pride in appearance

Self-confident and independent

Member of multiple social networks, including Facebook, Twitter and LinkedIn

SWOT Analysis

STRENGTHSWEAKNESSES

Wide product range

Strong company values

Ownership of entire value chain

Experience and reputation for quality

Good after sales customer service

Durability of furniture products

Diversification means not exclusively focused on furniture

Lack of social media, internet presence

Single store location

Slow and costly delivery to buyers home

Lack of hire purchase terms and paying arrangements

OPPORTUNITIESTHREATS

Real estate and housing industry booming in Guyana

Banking loans for home furnishing and renovation more affordable

Increasing demand for quality and durability in furniture due to failings of Chinese brands

High inflation and weak economy making reducing spending power

Easier online ordering from overseas furniture companies with websites

Chinese stores now stocking very affordable and good-looking furniture

Integrated Marketing Communications Plan

The following integrated marketing communication program is designed to raise brand awareness and brand loyalty in respect to Kissoons Furniture Store by convincing the target demographic that an acquisition from Kissoon's is an investment in their status and standing among their peers now and a down-payment on the future they desire and deserve. It is aimed at reminding the target that we are and become the choices we make. Thus when a person selects the durability, quality, and premium price of a Kissoon product, that one is actually predestining the kind of future he or she will have tomorrow. In this way, Kissoons Furnish Your Future the theme of this IMC campaign.

IMC Objectives

Increase percentage in the target demographic who associate the Kissoon's brand with the highest quality, the finest finish, and lasting durability for a premium price Increase furniture sales by 25% in 6 months Increase repeat purchases by 15 % in 6 months Increase internet presence and website traffic by 20% in 6 months Increase mobile and social media interactions and responses by 15% in 6 months

IMC Strategies

Create interactive web/mobile tools to engage target audience Develop sales promotions redeemable in-store only to attract customers from greater distances and increase in-store traffic Promote furniture quality and durability to potential customers through direct marketing Utilize social media to communicate with target demographic Develop a consistent and integrated creative theme for advertising media, social/digital media, internet marketing, public relations efforts