Therefore, companies employ various strategies to advertise and sell their products or services. Companies try to promote and sell their products to customers that they have identified in a target market. They implement marketing strategies to help accomplish the goal of profitable sales. Hence, marketing strategies are vital to the success of the company and the marketing strategy that a successful company employs will seek to overcome shortcomings and increase the company’s revenue. Lane Bryant is one such retail store that has developed marketing strategies that has made them one the most profitable retail stores for women who are larger in size.
Quality is about meeting the needs and expectations of customers, and for a business such as Tesco, it is vital to get it right. Tesco is the largest market share holder in their market, and are expected to maintain the quality of their services and products they sell. As a result, Tesco would be seen as the place to shop in that market type, bringing about more revenue, customers and maintaining their market share. Therefore quality is important to maintain the business’s image or reputation they hold in that market. High quality of Tesco’s products and services is important so they can maintain their customer loyalty.
SWOT Analysis Essay on Best Buy Strengths Best Buy has already established a good reputation in the global market. It has been recognized not only for the large hypermarkets but also for the credibility that the company has earned in providing the best service possible for the customers. Currently, the company holds a large market share in retail industry. Apparently, the revenue of the company is continuously moving upward as Best Buy constantly penetrating the global market. The company has developed a strategic plan which enables the company to relocate the store shelves of Best Buy based on the behavior of the market.
Complex retail IT systems help Greggs management monitor store and product performance, manage cash flows from the tills and deal directly with ingredient and other key suppliers. 10 One of the founding principles of Greggs is that the business put people first. Greggs are passionate in their belief that if the business treats its people correctly, they will treat customers with similar consideration. As well as giving staff an enjoyable place to work with good career prospects, Greggs also look to fairly reward all its employees. A number of pay schemes and fringe benefits are on
Chase Paymentech can also be credited as helping fuel the growth of ecommerce worldwide. I believe that when it comes to ethical principles Chase really has it down. In regards to customers Chase Paymentech wants to give its merchants the best methods to accept credit card payments from their customers with excellent pricing. They have come up with different programs for all types of business, ranging from small to large. The company helps these varying business with affordable pricing, tools to help grow and maintain their businesses.
Starbucks realized early on that motivated and committed human resources were the key to the success of a retail business. Therefore the company took great care in selecting the right kind of people and made an effort to retain them. Consequently, the company's human resource policies reflected its commitment to its employees. Starbucks other challenge would be to ensure that the company's image as a positive employer survived its rapid expansion program and to find
Zappos’ leadership would agree with this statement since they believe their company culture is the differentiator. Hsieh states, “Our belief is that if you get the culture right, then most of the other stuff—like great customer service or building a long-lasting, enduring brand—will happen naturally.” Aside from how this may have impacted the company from a financial performance perspective, this was the driving factor behind the attention Zappos was receiving from consumers, the press, and academics. People were interested in taking tours of the company’s headquarters and understanding more about Zappos. This is partly because of Zappos’ unprecedented focus on its’ unique company culture. Since people talked about it and gave that aspect of the company attention, it clearly impacted Zappos in a positive way.
Customer service is something we do for customers that improves the customer’s experience and that happens before, during and after a purchase of services or products. According to Harris (2010) customer service is essential to any business because it will guarantee that the customer will give you good feedback and with that you will have a great reputation. Great repetition of the business will make for more business by new customers, and will keep your older customers returning. Another reason it is important is because customers are key to your company’s success. A positive customer service experience I have had personally was when I called my credit card company to dispute chargers.
Factors that have been particularly favorable to Marks and Spencer in diversifying its retail businesses into financial services (lending, pension, life, assurance etc.) , • Good image and reputation of the company. A company's image is what makes it stick in the minds of potential customers. It's so important because your image instantly tells all your customers and vendors what kind of company you're running. If your image is excellent, it will make your company stand out from its competitors.
In any business, clear direction is vital. Tesco vision guides the direction and the decisions they take as an organisation. Tesco is a company built around customers and colleagues, high-quality assets around the world and multiple opportunities for growth – and these characteristics are central to their vision for the business. Tesco wants to be the most highly valued business by: the customers they serve, the communities in which they operate, their loyal and committed colleagues and of course, their shareholders. Tesco employees work in a wide range of position in a store and in a non store function such as customer service, department managers, warehouse employees , office based and logistic.Improving skills and job satisfaction of employees are the key of a growing company and this is the key of Tesco.