Sherilynn Sherrouse George Polanco Calli Buckelew SEARS.
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Transcript of Sherilynn Sherrouse George Polanco Calli Buckelew SEARS.
Sherilynn SherrouseGeorge PolancoCalli Buckelew
SEARS
Company History
Richard W. Sears came up with idea in 1886 when a box of watches was mistakenly delivered to his house.
Alvah RoebuckHoffman Estates, IL2005 merger with
KMart
SEARS ROEBUCK & CO.
Mission Statement
“WE ARE COMMITTED TO IMPROVING THE
LIVES OF OUR CUSTOMERS BY
PROVIDING QUALITY SERVICES,
PRODUCTS, AND SOLUTIONS THAT
EARN THEIR TRUST AND BUILD LIFETIME
RELATIONSHIPS.”
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Product: Apparel, major home appliances (refrigerators, dishwashers, etc.), home improvement/home repair, auto repair services, kitchen appliances, and electronics.
Place: Lower-end malls in suburban areas.
Price: Good quality products at a low price. Started sending out catalogs with prices printed inside in 1894.
Promotion: “Wish Book”
CURRENT SWOT ANALYSIS
Strengths• Wide range of product
offerings• Strong private label
branding (i.e. Craftsman, Kenmore, etc.)
• “Wish Book”• Good Variety of Brand
Mix
Weaknesses• Low inventory
turnover/low sales• Stagnate while
competitors adapt• Customer service• Store layout/design• Target Market
Opportunities• Increase online sales• Increase store sales• Update store layout• Decentralize operations• Further growth of private
labels• Broaden target market
Threats• Increasingly intense
competition• Low consumer loyalty• Economic slowdown• Decrease in department
store popularity• Online Retailers
(Amazon.com)
Problem #2EMPLOYEE QUALITY
Problem #1DECLINING IN-STORE
SALES AND TRAFFIC
Problem #3
DECLINING ONLINE SALES
Questions?
WHEN WAS THE LAST TIME YOU SHOPPED
AT SEARS?WHEN WAS THE LAST
TIME YOU BOUGHT APPAREL AT SEARS?
WHY?
New Target Markets: Appliances: Middle-Class to Upper Class
suburban families. Majority of purchasing power from women. Mid-20’s to Mid-30’s. First time homeowner’s. At least one full-time working adult. Demands reliable products.
Apparel: Price-conscious consumers. Men and women looking for stylish clothes at a low price. Early-20’s to late-30’s. Live in both urban and suburban areas.
Lawn Equipment and Home Improvement: Men ranging from Mid-20’s all the way into their 50’s. Homeowners. Middle-Class. Work full time. Use projects as a way to “blow off steam” or wind down from hard day’s work.
Objective: Increase traffi c by 20% in each store through implementation of marketing to new target markets thus posit ively impacting sales
PROBLEM #1: DECLINING IN-STORE SALES AND TRAFFIC
NO
RD
ST
RO
M Who targets diff erent markets in one
store successfully?
McMillan DoolittleHire full-time regional customer service representative Objective:
Increase customer satisfaction by increasing employee qual i ty.
PROBLEM #2: EMPLOYEE QUALITY
Number of transaction/Number of people who have come into the store.
Many retailers use conversion as a way to see if customer service is where it needs to be.Kate Spade, Juicy Couture, Lucky Brand, etc.
Objective: Increase conversion percentage to 25% by increasing level of customer service
PROBLEM #2: EMPLOYEE QUALITY
Improve layout of the storeAdd showrooms to showcase different ways to use the products being sold
Weaving in and out of departments
Hire visual Manager for upkeep of visual updates
Expert sales associates
Objective: Increase t ime that each customer spends in the store by updating store layout and creating a more comfortable atmosphere
PROBLEM #2: EMPLOYEE QUALITY
IKEA
PROBLEM #2: EMPLOYEE QUALITY
Social Media Website Advertising
BloggersFashion, Cooking, Crafting, Organization, etc.
Objective: Increase onl ine sales by 40% by increasing awareness of the website and its off erings
PROBLEM #3: DECLINING ONLINE SALES
New Marketing/Advertising Strategy: Customer counters at every entrance of the stores in able to count the amount of traffi c we are seeing. Goal: Increase of 20% from fi rst month of running new advertising.
Employee Quality: Customer service surveys online sent through email. End of each month manager will receive results.
Conversion: Number of transactions/Number of people who enter the store
Increase online sales by raising awareness of website: Count amount of traffi c coming to the website via advertisements and backlinks.
EVALUATION
Thank You!ANY QUESTIONS??