Waterford Wedgewood

7/30/2019 Waterford Wedgewood

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WATERFORDWEDGEWOOD


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Introduction and history

Founded in 1759 by William and George

Penrose

Got a reputation of excellent quality

Stopped operation for nearly 100 years

Reopened after the world war 2

Got listed in London stock exchange in (1967)


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Took part in many mergers

Now listed as WATFF

Waterford has recently diversified

decline net come and sales

net income of negative 270.8 million Euros

and of 183.9 million Euros


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Mission and vision statement

No vision statement

ProposedVisionStatement:

"Create the finest quality crystal and objects of

beauty which represents Luxury, Elegance

&Hard work

Mission:

To continue to be the world's leading portfolioof luxury lifestyle brands with particular

emphasis on tabletop, gifting and the home


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Components of a Mission Statement:

Customers: NO

Products or services: YES

Markets: NO

Technology: NO

Survival, growth and profitability: YES

Philosophy: NO

Self-concept: NO

Concern for public image: NO

Concern for employees: NO

Proposed Mission Statement:

We Offer our customers and consumers lavishness, innovation & high-quality, of the world's greatest ceramics and developing a true English stylethat is able to transcend global fashion boundaries to bring beauty into thelives of our customers


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External factors:


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EFE MATRIX


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Internal factor


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IFE MATRIXKey internal factors Weights rating Weighted scoreStrengthsStandard production

procedures(high quality

production)

0.06 4 0.24

Handmade, unique crystals 0.03 3 0.09Socially responsible 0.03 3 0.09Introduction of new high quality

product lines

0.06 3 0.18Collaborative and cooperative

relationship with designers and

internationally known chefs0.04 3 0.12

Positive perception by the public 0.07 4 0.28Has the goodwill of

Waterford(been in market for 225

years)0.01 4 0.04

Weakness:Negative net income from 2006 to

20070.16 1 0.1

Decline in revenue 0.17 0.17No vision statement 0.02 2 0.04Lack of advertisement 0.04 2 0.08Problems with debt management 0.06 1 0.06Centralized production 0.05 2 0.1Products considered to be old

fashioned0.01 2 0.02

Brands are not being market

together as complementary

product0.07 1

Height labour cost due to

handcraft

0.12 11 1.68


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SWOT Matrix

StrengthS1 products have modern

designsS2 trained craftsmenS3 handmade unique crafted

crystals pieces

WeaknessW1 decline revenue from

772.6 million to 741.5 millionW2 lack of advertisement

OpportunitiesO1.Explore Asian marketsO2.Collaboration with

retailers like Bed, Bath and

Beyond and Robert MondoviO3.Further enhancing its

public image by adding

something about ethically

produced products to its CSR

policies

SO StrategiesMarket Development Target

new Asian markets and introduce

their unique designs (S1,O1)

WO Strategies1.Farward integration(W1,O2)

2.Newmarketing Strategy

(W2,O3)


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ThreatsT1.Threats from the

competitors in the form of

highly diversified products

and better distribution

channelsT2.Competitive Asian

Companies a major threat

ST Strategies

Low cost leadership, low cost

best value(S2,S3,T2)

WT Strategiesforward integration (W1,O2)marketing strategy(W4,O3)


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Grand matrix


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IE MATRIX


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Quantitative StrategyPlanning Matrix (QSPM)

and Analysis


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CONCLUSION


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Waterford Wedgewood

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