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Strategic Report of Harrods & Liberty - Essay Example

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Summary
Harrods and Liberty are affected by the different environmental factors thus influencing the manner in which the two stores conduct their trading activities. Considering that the stores lack control over the external environmental factors, they have had to strategize their…
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Strategic Report of Harrods & Liberty
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Strategic Report of Harrods & Liberty

Download file to see previous pages... have different business objectives thus their practices about the external environment is greatly variable, all aimed at ensuring they stay in line with the demands of the targets and principles for which the store stands. For instance, Harrods demonstrates a higher level of aggressiveness with the incorporation of modern technological innovations, whereas Liberty is apparently more interested in conservation of its reputation and image, as opposed to multi-engagements in macro-economic influencing factors. On the other hand, Harrods appears to have its focus on a wider range of audience as evident through its marketing techniques, which are largely technology-based. This undoubtedly enables the store to pass a busy and energetic feel of communication about itself. On its part, Liberty tends to position its practices on specific and strictly premium high-end market, giving the store a more relaxed ambience.
The external and internal analysis of the two stores based on their strategies of retailing suggests that the two organizations have not yet been able to fully exploit the business opportunities at their exposure. Of significant importance is the need for the two stores to adopt diversity in the products and services provided, and the manner in which this is done, in order to widen their customer base as well as helping them overcome some of the external and internal environmental barriers to business.
Over the past decades, there has been a significant transformation in the retail industry, which has equally posed more challenging moments for the retailers. Despite this, the global landscape of retailing, which is on constant change, has experienced massive improvement, even in the time of high competition from within the UK markets and that on the global scene (Thirumalai and Sinha, 2009). Evidence suggests that the move by the retailers to harness the multi-channel practices and the growing advances in technology have been key in increasing the stability ...Download file to see next pagesRead More
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