Bed Bath and Beyond Case Study

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1. Explain how Bed Bath & Beyond practices the retailing concept. The retailing concept is a strategic guide that should be understood and practiced by all retailers. This concept includes four (4) main principles: Customer orientation, coordinated effort, Value driven, and goal orientation. Bed Bath & Beyond (BB&B) practices the retailing concept by being goal oriented, value driven and customer oriented. It says in the second paragraph of the case, that BB&B’s long-term goal is to operate 1,300 stores, while also highlighting how close they were to achieving this goal. BB&B has annual sales of $7 billion and a net income of $562 million. It is evident that BB&B sets their goals and integrates strategies to attain them, and clearly these strategies have been working for them. As a retailer, BB&B is value driven as they provide value to their customers. The fact that customers of BB&B continue to shop there, is revelatory to the fact that they are satisfied with the value they receive from having appropriate pricing levels for the product offerings and the customer service of BB&B. “BB&B management (as well as many retail analysts) attributes the chain’s strong sales performance to its superior customer service. BB&B is obsessive about its customers receiving a consistently high level of customer service.” These statements allude that BB&B thrives on being customer oriented. This part of the retailing concept involves retailers determining the attitudes and needs of its customers and endeavors to satisfy these needs to the fullest. (Berman & Evans, 2010). Based on customer feedback, BB&B is said to have excellent in-store customer experiences. 2. Evaluate Bed Bath & Beyond’s growth plans. Bed Bath & Beyond’s growth plan is highly effective. BB&B has opened hundreds of stores over the last few years, ranging in size from 30,000 to over 80,000 square feet, and has

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