Marketing Essay Example | Topics and Well Written Essays - 2500 words - 17

Marketing - Essay Example Founded in 1977, the company is one of the leading businesses in UK to provide hire business. This company offers products which are business to business in nature. â€Å"The Group was traditionally focused on tool hire, but now also has complementary businesses specializing in portable accommodation, lifting, surveying, compressed air systems, pumping and power generation equipment.†(Speedy Hire Plc, 2008). The major products of the company include access equipments, drilling/breaking, Gardening, Fencing, Cranes and other earth movers etc. Speedy Hire Plc work in UK which has relatively stable political environment. Considered as a secular country with strong market orientation, UK is currently experiencing slight slow down into its economic activity mainly due to subprime crisis and there is a possibility that housing markets, on overall, may cool down thus reducing the demand for hire industry however, market for the hire equipments were growing as the growth in the market during 2006 has been 6.6% whereas 2007 estimates are 121.5 GBP. The growing inflow of the immigrants into the country has increased the requirements for the housing sector in the country and the reduced cyclicality has allowed companies to anticipate the market trends more effectively. Companies including Speedy Hire Plc within this sector is continuously relying on the information technology therefore there will be increased dependence on technology in the future also. Legal environment in the country is favorable. Environmental concerns for comp anies are increasingly becoming a burning issue for the hire industry and it is believed that companies successfully addressing environmental issues will competitive advantage in the future. The company has two major divisions of equipment hire and tool hire. These two divisions then offer products mentioned above through various geographical