ipl-logo

Market Analysis: Hobby Lobby US

803 Words4 Pages

MARKET ANALYSIS CUSTOMERS Company Country Products offered Art Pol Poland Hobby Lobby United States Multicraft Canada Raffia Pacini Trade Italy Craftime Unlimited Corporation is a Philippine-based company which specializes on making handicrafts such as holiday décorations, Angel figurines, Burlap, Sinamay, Raffia, Abaca scrunch, Shells, Placemats, baskets, easter decorations, Halloween decors, capiz and sisal. From these product offerings it was discovered that the handicrafts that are of high demand are Raffia, Sinamay, Abaca Scrunch, Angel Figurines, and Paper Mache. These handicrafts are made to promote the Filipino-made products. From the design creation up to its production, the locals of our country are the ones who made every step …show more content…

Mr. and Mrs. Green started making miniature picture frames and know Hobby Lobby have more than 750 stores, 32,000 employees which operation in forty-seven states. Hobby Lobby offers numerous selection of arts and crafts including hobbies, picture framing, jewelry making, fabrics, floral and wedding supplies, cards and party ware, baskets, wearable art, home accents and holiday merchandise. Furthermore, Affiliated companies include Hemispheres, carrying unique home furnishings and accessories from around the world, and Mardel Christian and Education Supply, offering books, Bibles, gifts, church and education supplies as well as homeschooling curriculum. Hobby Lobby also maintains offices in Hong Kong, Shenzhen, and Yiwu, …show more content…

Founded by Rick Kumar, who grew up in an entrepreneurial family environment who’s actively involved in the craft industry, he realized that several products in the market are being sold at a higher price which is quite expensive for the average crafter’s budget. Due to these high costs, a part of the market would rather not buy these craft items. Mr. Kumar saw this as a great opportunity to start a business where crafters can purchase craft items at a reasonable and affordable price. He strategized on buying products in larger volumes which drives to decrease. Multicraft will then enhance, improve and develop the design, production and distribution methods of these fine craft items. Around the world, multicraft collaborates with over 140 factory partners. One of these is Craft time unlimited corporation in the Philippines. Multicraft offers a wide array of products for their customers, from General & Kids Crafts, Decorative Painting, Paper Crafting, Beading & Jewelry, to Home Décor, and much more. They offer these products at a lower price range

Show More
Related
866 Words | 4 Pages

The company is now producing and distributing over 70,000 products for hobby and craft lovers across the U.S. All of their products are distributed from one warehouse their home base in Oklahoma City. Hobby Lobby strives to keep prices affordable for those that are living on a budget. The products sold in their stores include thread, yarn, fabric, flowers, décor, greeting cards, picture frames, buildable crafts, scrapbook crafts, seasonal items, wedding products, jewelry, wearable items and more. The product lines vary in color, style, material, size, room location, type, brand, and many more. Each month district managers visit each store to check the inventory and safety stock levels of 100 different products.

Read More
554 Words | 3 Pages

Cutco corporation is the largest manufacturer and marketer of kitchen cutlery and accessories in the United States and Canada (instructors manual, Pg. 22). This company utilizes a direct marketing channel to distribute their high quality goods to customers allowing for most direct route from manufacturer to client. One of the incredible attractions for customers is the “forever guarantee,” that is offered with the purchase of any Cutco Product. The corporate objective is simple, to design and manufacture the highest quality product available. The foundation of this manufacturers product is incredibly high in quality and it has the backing of the forever guarantee ensuring that their support extends long after the purchase date,

Read More
2638 Words | 11 Pages

Specialty paint stores, lumberyards, and independent hardware stores have a larger share of the market in nonmetropolitan areas. a. Customer relations is more important in these areas b. Could be accredited to less competition in these areas The amount of competitors that are in direct competition with Janmar Coatings, Inc. has diminished over the years, but those who are still around have been capturing a larger portion of the market due to competitive pricing. Specialty paint stores are able to control a larger portion of the market in nonmetropolitan areas, which makes this an attractive region for paint companies with premium products. Customers 50 percent of architectural coatings dollar sales come from do-it-yourself (DIY) painters.

Read More
1076 Words | 5 Pages

Hobby Lobby is well known for it’s large selection of art and crafts products, along with their framing center and decorative pieces they offer to customers. What once started as a home frame making production, has evolved into a huge corporation that continues to be sound in its core beliefs as it first did during the home production. David and Barbara Green, decided to open up the first Hobby Lobby in 1972 (Our). From the Greens’ home made miniature picture frames to a selection of over 70,000 crafts and home decor products, the family always wanted to ensure they remained grounded in their religious beliefs (Hobby, Our). Hobby Lobby’s core values are stated in their mission statement, “Honoring the Lord in all we do by operating the company

Read More
1710 Words | 7 Pages

3. Chapter 2 – Methodology 3.1 Introduction This chapter challenges all levels of knowledge, according to the ‘Bloom’s taxonomy’ method. Within this chapter the aim is to focus on a specific US clothing line called American Apparel, founded in 1989 by a Canadian named Dov Charney. Today, this company is based in all corners of the world, however its main quarters are in Los Angeles, California.

Read More
1277 Words | 6 Pages

Major Business propositions for Woodmere and HomeHelp The business proposition for Woodmere in this case study is as follows. Woodmere would be able to secure an exclusive distribution with HomeHelp, which is a market leader in Home Decorating retail market, if it can implement time-based logistics. Woodmere’s prospective customer segment is heavily consolidated resulting in stiff competition.

Read More
951 Words | 4 Pages

Create the Value: Market Segmentation Analysis and a Value Proposition for New Retail Brand Dunkin' Donuts Kidd Milky Beverages Brief Description of the New DD Retail Brand - Dunkin' Donuts KiDD Milky Beverages Dunkin Donuts has pursued a policy since 2000's to be more than ' just a donut store, the company started putting more emphasis on growing its coffee business (Champagne, Iezzi, 2014). Specially since 2006, DD's proved its brewed coffee, espresso, cappuccino and latte options to the 'fancy' coffee drinkers and today, more than 3 million customers per day visit 11,300 Dunkin Donuts restaurants in nationwide and 36 other countries (Dunkin' Donuts Press Kits, 2015). The brand's slogan "America runs on Dunkin" is now evolving to "Kids

Read More
812 Words | 4 Pages

Market Segmentation: To be of value market segments must be measurable, substantial, accessible, differentiable, and actionable (Kotler & Keller, 2012). Segmentation of demographics for Costco is vast as the current product offerings include all genders, ethnicities, incomes. age groups, and social classes. When considering demographics, it is important to consider the average or typical characteristics of the target market. As mentioned earlier the target market or focus for this company is supplying the small- to medium-sized business and targets the middle- to high-end consumer with its private label brand Kirkland Signature.

Read More
1625 Words | 7 Pages

Segmentation, Targeting and positioning, also known as STP are an essential part in marketing today. This model is important for generating marketing communication strategies and it aids the marketers to prioritize schemes and deliver personalized and pertinent messages to diverse audiences. This approach is audience oriented rather than product focused in terms of communication, which results in conveying appropriate messages to the members who are more commercially appealing. Segmentation benefits the managers in finding out the area on which they have to concentrate on in terms of geography, demographics, social factors or behaviors.

Read More
1190 Words | 5 Pages

Enhancing creation potential and concentrating volumes are key so as to accomplish low cost. The vast supplier

Read More
3863 Words | 16 Pages

1.0. INTRODUCTION Every organization strives to benefit from creating value for its customers, in the most effective way, for the purpose of attaining competitive advantage in the business environment in which they operate. Philip Kotler(2015) defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit”. According to Hollensen (2003), a strategy is a fundamental pattern of present and planned objectives…”

Read More
1346 Words | 6 Pages

a. The product and production orientation of marketing asserted that a company should first develop product and then they should scan the market for sale opportunities. Now days in the modern world the market have changes. The process orientation of marketing requires a company to first to analyse the market, understand customer requirement and then develop products. In todays world, the modern marketing is based on the reverse process, in which the first the customer needs and demands are identified. The subsequent market program of the firm depends on how the market identifies the potential customer, profiles them, target them and positions his offering in the minds of customer.

Read More
2051 Words | 9 Pages

For the company, it gets the raw materials like wood and wood fiber from its internal suppliers and other raw materials like metal from its external suppliers. At this stage, parties like IKEA Industry and IKEA’s external suppliers are involved. Since IKEA has to purchase materials from numerous suppliers, the company has 31 trading service offices in 26 countries so that new idea testing, production monitoring, quality checks and price negotiations can be carried out efficiently. This ensures that the material costs are at its lowest and at the same time, material comes in good

Read More
2034 Words | 9 Pages

In 2006, Toys "R" Us adopted an integrated store strategy which combined Toys"R"Us and Babies"R"Us under one roof. In order to provide customers with a one-stop shop, the company has converted approximately 25 percent of its wholly owned global store base to a

Read More
1093 Words | 5 Pages

Market structures describe the competitive environment in which a firm operates. The characteristics of the market structure will have a major-influence on the competitive strategies and tactics that are implemented by firms. (Octotutor, 2014). For the purpose of this analysis, I have chosen to analyze the Coco-Cola Company, which operates in an oligopoly. This type of market has many implications for both consumers and competing firms.

Read More

More about Market Analysis: Hobby Lobby US

Related Topics

Open Document