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.
This has proved to be hugely successful as they forge longtime customer relationships. Salespeople at Nordstrom will do everything they could and even beyond to give the customer perfectly customer service. A salesperson who gives individual attention to customers like assisting a customer with one leg that wants the sale of only one shoe is on a self-service level. The level of full-service entails salespeople that assist customers with the locating of products those are not located within their store, and their exchange policies that have no questions to ask customers when they are making returns. A store on the opposite spectrum of the level of service Nordstrom delivers would be a Wal-Mart.
MACY’S Originally R.H. Macy & Co. 2. J.C. PENNEY COMPANY INC. WHY DO I FIND THIS TOPIC INTERESTING? The project highlight in learning the organizational changes and analyzing the impact they create in the development of their companies. J C Penney and Macy’s are well known over all in U.S. and Macy & JC Penney both are in the retail industry. But what I find interesting is what made these companies bigger.
The distribution networks of the new companies are high and tends to affect the operations of JCP. Therefore, the company should build a strong distribution network so as to counter significantly the operations of the new companies that produce similar products. The “mom and pop” stores have been reported to resort in selling products online, otherwise they become obsolete. J. C. Penny’s SWOT analysis The strengths of the company are: * The existence of more than 1100 locations worldwide * Their quality products such as clothing, jewellery, beauty products and even footwear and furniture * The company also offers shipment of their goods for customers, which gives their customers the best experience in the end, hence attracts more customers. * The company also offers free haircuts for the children The weaknesses of JCP Since its competitors give similar products, the company is faced with limited market share 2. International business operations have also challenged the services of JCP due to the current emerging economies worldwide.
The differentiation strategy involves production of product or services, which is unique throughout the industry and because of its uniqueness the customers are willing to pay more for it. The uniqueness may be in terms of design, brand image, technology or customer service. In case of Zara, it is the fast fashion philosophy adopted by the company. Zara’s unique selling point is to design and produce the latest fashion trends within a short span of two weeks. And these new styles are only available for sale on the floors only for a period of 4 weeks.
Walmart sells many items at ridiculously low prices. They are able to offer low prices on their items due to an incredible mark-up on imported products. Especially in today's economy, the buck is the big winner. Everyone wants to save money, and they can do that by shopping at Walmart, where many items are the lowest price in town, even if it's only by a few pennies. But consumers aren't helping their fellow countryman earn his own living by buying these imported items.
Costco Wholesale Corporation Part II Costco Wholesale Corporation is an extremely competitive industry. The following writing will discuss the financial health, technological advantages, globalization, and conducting benchmarking analysis in comparison to Wal-Mart and Target Corporation. To manage financial statements efficiently is by means of income statement, balance sheet, and cash flow. The technology has advance and made developments through the year, technological advantage in Costco Company is helping the progress for success. Globalization is the key to survival that allow to a company to be competitive and offer diverse services and convenience to consumers.
“Explain why it is important to maintain a vibrant and exciting retailing experience within the CBD” (10) The CBD, or central business district, is the heart of the city. Most businesses in a service economy like the UK depend on retail for their revenue, so to keep generating revenue, they need to make the retail experience as vibrant and exciting for potential consumers as they can, and maintain that level so people don’t feel that they would prefer to shop online, at online retailers such as Amazon or out of town retail parks like The White Rose Centre in Leeds. With the CBD maintaining vibrant and exciting it attracts large businesses, such as H&M in Trinity Leeds, and therefore brings employment to the area and keeps the economy in the area strong as these people will be on a wage and will spend that likewise in the CBD helping keeping it going. With Trinity in Leeds the building of the centre created 1,000, temporary, construction jobs, and 3,000 retail jobs in the shops inside the actual centre. Companies are always looking for ways to improve and enhance the “shopping experience” of the CBD, by building and adding new and exciting stores.
INTRODUCTION Wal-Mart is a leader in the retail industry and dominates all of its competitors combined. The company would not be the giant it is today without the help of the visionary leaders behind it. The purpose of this paper is to discuss Wal-Mart as a leader in the retail industry, founder and visionary leader Sam Walton, current CEO and exemplary leader Mike Duke, and the values of servant leadership within the company. With a company as successful as Wal-Mart, it is necessary to examine the attitudes and beliefs of the company’s culture as this is what has led to its success. Sam Walton believed in putting customers first and knew that the most important associates at Wal-Mart were the ones who work directly with the customers.
Pleasing the personnel is one of the principal goals of any business to survive and develop in this huge competitive trade. This indeed is a vast trial that is to be reached by the business. For the personnel to be pleased it