Hewlett Packard Inc. is a technology company that provides gadgets and services to the market in more than 170 countries in the world. HP is one of the most prominent companies in the world in terms of customers’ loyalty and quality of products that are being offered. The company has a wide range of technology products such as storage devices, printers, enterprise servers, and computing devices. Through the constant development of HP products in the market, the company was able to gain large revenue in the market (Hewlett-Packard, 2009).
Internal Analysis: Strengths and Weaknesses HP was able to dominate the market with its products that have easily attracted the potential buyers and gained the brand awareness through proper advertisements and publicity. The company has been known for innovating products that capture the attention of the people (Waller, 2003). Just recently, HP launched a new product which would portray the colored and exact images of a certain thing in an electronic paper. Apparently, HP has contributed much to the constant and fast evolution of technology (The Economist, 2009).
The company established a good position in the marketplace which makes it hard for the competitors to penetrate the industry of technology. As a matter of fact, the company is included in the most respected companies in the world along with other companies that venture in other industries (The Wall Street Journal, 2009). This achievement is a manifestation that the company was able to gain the company’s goal and objectives, not only in producing quality products but also in executing their marketing plan.
However, the continuous release of gadgets from HP still needs immediate actions from the researchers in order to produce more projects in a year. Before, the company was focusing on small projects which lengthened the process of developing new products. However, the company plans to restructure the research laboratories and focus on bigger products to be able to produce more than what the company expects.
External Analysis: Opportunities and Threats. Nowadays, technology has given marketers new opportunities to reach the market and gain larger profit in a very short time. Aside from marketing online, the society has now gone through a lot of changes making everyone acquainted to the internet. This means that the company may also be able to enlarge its target market giving the other clusters an opportunity to use their products and services. The company may develop high cost products but may also manufacture gadgets that can be affordable for other clusters in the society.
The price war in the industry of technology can open another door for improvement for a huge company like HP. This technique could gain more customers and profit at the same time. Since the economic situation of the world is one of the factors why the demand for gadgets has decreased, HP can solve the problem by adjusting to this kind of challenge. The post modern society has been the strength of HP in dominating the market. However, the existence of competitors that produce gadgets in the market can be a threat for company’s survival.
Even though HP has been considered as the market leader in developing gadgets, other companies are still striving hard to reach the revenue of the company. The constant innovation of gadgets in the market gives birth to another need for the customers. In other words, the intense brand rivalry could create a negative impact to HP regardless of the company’s position in the market. Moreover, the inconsistent demand of the society for new gadgets may affect the expansion of the company’s business.
Since companies like HP has the ability to create demands in the market, other companies may also generate new concepts to persuade the customers to try other brand aside from HP. Today, the economic situations of the countries where HP operates could also give negative effects to the company. The suppliers are starting to see the significant decrease in the demand of new gadgets (Waters, 2008). This conflict can be viewed as a conflict or threat for a big company; however, in the case of HP this can be an opportunity to expand the business more.