ASSESSMENT OF THE MARKET DEVELOPMENT STRATEGIES IN DELUXE FURNITURE ADDIS ABABA

Abstract

This study assesses the market development strategies employed by Deluxe Furniture in Addis Ababa, evaluating their effectiveness in driving business growth, increasing market share, and enhancing customer satisfaction. Using a descriptive research design, the study integrates both quantitative and qualitative methodologies. Primary data were collected via structured questionnaires distributed to employees, customers, and management, while secondary data were obtained from company records, academic literature, and industry reports. Findings reveal that Deluxe Furniture's product variety, quality, and customization options effectively cater to diverse consumer needs. However, opportunities for improvement were identified in after-sales support and the frequency of promotional activities. Pricing strategies were deemed competitive and transparent, although respondents recommended the introduction of more dynamic pricing models and promotional incentives to attract a broader customer base. Distribution strategies, including accessible branch locations and a robust online presence, were highlighted as strengths, with further suggestions to expand delivery services for enhanced flexibility. Promotional efforts significantly influenced purchasing decisions, yet a need for more interactive and customer-centric approaches, such as personalized marketing and social media engagement, was noted. The study concludes that Deluxe Furniture's market development strategies have successfully positioned it as a leading player in the Ethiopian furniture market. Nonetheless, addressing gaps in promotional efforts, delivery efficiency, and after-sales services can further strengthen its market presence. Recommendations include leveraging data analytics, expanding geographic reach, enhancing e-commerce capabilities, and introducing eco-friendly product lines to align with consumer trends. This research provides actionable insights for management while contributing to the broader understanding of market development strategies in Ethiopia's furniture industry.