The HMV group is a global specialist retailer of entertainment, portable technology products and books. With its first store opening on Oxford Street, London in 1921 the company has expanded to open 700 stores in 7 different countries. The HMV group within the UK have expanded the entertainment business by being majorly involved in music venues, summer festivals and other related ticketing events.
A business aim is where the business wants to go in the future, its goals. It is a statement of purpose. The HMV group’s aim is to develop within the entertainment and ticket market. A business objective is a measurable target of how to achieve its business aims. The objective set by the HMV group is to expand the business by creating more events through HMV live venues and HMV tickets. More so grow in these two sectors to increase the HMV ticket share of the £1bn UK ticketing market.
A business strategy is a long term plan of action to achieve a particular goal or objective. The HMV group strategy is to expand the business by being more involved in the entertainment market and creating more events through the HMV live venues and HMV tickets. More so to grow in the certain business sectors. These strategies were influenced by consumer wants and the popular demands of today society. Such as more people being interested in seeing live concerts and buying tickets for these various concerts and events. Consumer wants has been the drive the proposed strategies.
By the HMV group being part of the online retail stores it is able to compete against other high up retailers. It benefits from this online competition as it is able to gain more customers as well as gain popularity from the perks that they offer to their customers.
Consumers benefit from the online store competition as they are able to go onto the HMV website and order items rather than go to store to see whether it is in stock or not. But in order for the HMV store to be competitive it comes up with perks...