Strengths
• Concept Stores
The company’s new concept stores are designed around collaboration. These new concept stores are RadioShack reimagined. Interactive displays, a speaker wall, idea centers, new display configurations, and different technologies that ease buying and encourage collaboration. The “Do It Together” idea center is part of the new campaign. Boston, Manhattan, and Lynwood, CA are three of the locations where concept stores were recently opened. Another thirty retail locations were also opened across the US and more in Asia, including China and Malaysia.
• International Presence
The opening of these concept stores will accompany at least 1,000 franchise stores that will be opened in Malaysia. The expansion into Malaysia is due to RadioShack’s agreement with Berjaya Retail Berhad in March of 2012 (MarketLine, 2013). This will open stores spanning ten Southeast Asia countries in the first ten years of the agreement. Emerging markets, such as urban Southeast Asian cities, lead the growth in purchase intent and ownership of the latest technologies (Accenture, 2012).
• Member of Consumer Electronics Association (CEA)
After only being the CEO of RadioShack for a year, Mr. Magnacca was asked to speak at a Consumer Electronics Association (CEA) event. As part of CEA, RadioShack gains access to CEA events, market research, free employee training, and business development opportunities. CEA Government and Legal Affairs (GLA) is the legislative voice for consumer electronics and the Political Action Committee (PAC) protects the freedom to build and sell consumer electronics products. CEAGLA and CEAPAC are committed to advising, lobbying and reporting on federal, state and international CE policy on behalf of members and t...
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... (2014, January 14). RadioShack Unveils New Brand Positioning Inspired by Collaborative, Do-It-Together Spirit. Fort Worth, TX. Retrieved from http://ir.radioshackcorporation.com/phoenix.zhtml?c=84525&p=irol-newsArticle&ID=1893671&highlight=
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Trading Economics. (2013). United States Consumer Sentiment. Retrieved from Trading Economics: http://www.tradingeconomics.com/united-states/consumer-confidence
U.S. Securitites and Exchange Commission. (2014, April 19). RadioShack Corp. Retrieved from SEC: http://www.sec.gov/cgi-bin/viewer?action=view&cik=96289&accession_number=0000096289-14-000005&xbrl_type=v
Waterman, J. (2012). Consumer Electornics Stores in the US. IBISWorld Inc.
Kohl’s is an incredible store to shop at for the whole house and will save their customers more money than Macy’s would save them. They have a huge variety of wear and everything is at a great low price. On top of their amazing low prices, their customers can also use a number of coupons to save even more money. Though they both offer amazing discounts for their card holders, Kohl’s offers their discounts to every one of their customers. Other stores can not compete with the amazing savings one can get at Kohl’s, like Kohl’s cash, coupons, reward points, and free shipping when one orders from a Kohl’s in store kiosk.
If we refer to products, people often take them as the things we get from suppliers with a price. Apparently, this is a definition from the perspective of exchanges and does not quite catch the essence of the meaning of product in the marketing discipline. In this regard, Rothschild (2009) offered a probably better definition for products as a bundle of benefits for customers. This definition also offers an important perspective for JB Hi-Fi to understand its products. Because after all, JB Hi-Fi is only a retailer and all its home theatre products are sourced from their manufacturers. If JB Hi-Fi only sees its products as the tangible parts, it may miss out the very important parts of the competition. However, if JB Hi-Fi sees the product as a bundle of benefits it can offer to its customers, the tangible part is only part of this bundle. There is much more for JB Hi-Fi to offer to improve the benefits to customers, and at the same time differentiate itself from its competitors.
J. Crew, also known as J. Crew Group Inc., is a private label company known for its preppy fashions that are fashionable yet costly. Essentially, the company was owned by the Cinader family for most of its history. Mitchell Cinader and Saul Charles founded the company in 1947. It was originally known as Popular Merchandise Inc. doing business as the Popular Club Plan, in which Mitchell’s son Arthur was the overseer. The company sold women’s clothing through in-home demonstrations. In the early 1980’s, Cinader and Charles observed catalog retailers such as Land’s End, Talbots and L.L. Bean reporting rising sales in revenue. With intentions to increase sales and duplicate success of these well known companies, Popular Club Plan began its own catalog (http://www.fundinguniverse.com/company-histories/j-crew-group-inc-history/).
Used novel techniques by opening concept stores in Boston and New York to attract customers.
under a different name of the Top Hat. Tony Smith started the company as a
The branding Ms. Klein wrote about only appears to work because the idea of “choice” as defined by the brick-and-mortar retailers is an illusion. Anyone entering a department store or mall understands this quiet truth. There are many styles to choose from, it seems, b...
b. Sears Essentials was originally planned as stores in areas where there was no competition, but may be expanding into areas with high levels of competition
Best Buy’s History & Main Characters: Best Buy is Minneapolis-based and is North America's leading specialty retailer of consumer electronics, personal computers, entertainment software and appliances. Throughout Best Buy's 37-year history, the company has maintained the tradition of making life fun and easy for customers and employees, while providing a significant return to partners and investors. It has 80,000 employees and over 550 stores in the U.S., in addition to the brands Best Buy Canada, Future Shop and Magnolia Hi-Fi. Their leadership is led by Dick Schulze, Founder and Chairman, Brad Anderson, Vice Chairman and CEO, Al Lenzmeier, President and COO, and Darren Jackson, Executive Vice President of Finance and CFO. Chairman Dick Schulze founded Best Buy in 1966 with the Sound of Music, an audio component systems store in St. Paul, Minn. In 1973, Vice Chairman and CEO Brad Anderson joined Sound of Music as a salesperson. The company quickly expanded into video products and computers, was renamed Best Buy in 1983, and became a public company in 1985. Best Buy’s revenues for fiscal year 2003 were $20.9 billion and net earnings of $622 million. It was ranked number 91 on the Fortune 500 in 2003 (Bestbuy.com). Best Buy stores are redefining the way customers shop by offering an unparalleled assortment of affordable, easy-to-use entertainment and technology products and services available through its network of more than 550 retail stores in 48 states and online at BestBuy.com. Best Buy is scheduled to open 60 new stores in fiscal 2003 and is on track to have 650 stores by fiscal 2005. Magnolia Hi-Fi is a high-end electronics retailer specializing in audio and video solutions for homes, ...
The strategy of WFM, co founder Mackey, is to continue offering healthier options for its customers. The movement into Canada and the UK in the last few years, lays the footprint for additional global expansion. Mackey intends to increase WFM to 1000 stores. The question is whether it will happen through acquisitions or new store locations. The answer based on their history is a combination of both. The store in Canada opened in 2002. Since brand recognition is not as strong, the store struggled somewhat in the beginning; however, the expectation is that it will grow to one billion in the next ten years (Patton, 2013). The stores in UK, which are in the greater London area, have received mixed receptions, and some stores are selling well while other locations are not. However, Mackey is not deterred and believes that longevity will produce the desired results.
Kohl’s Corporation (2013, March 22nd). Form 10-K 2013. Retrieved February, 7th, 2014 from SEC EDGAR website http://www.sec.gov/edgar.shtm
Ron Johnson spent a great deal of time and money to promote his ideas of “stores-within-stores” by turning floor space into an area to house several branded boutiques. He did this in order to attract a target market of a wider demographic which includes age, gender, and generation. One of the m...
Hoopes, C. L. (n.d.). The hewlett-packard and compaq merger: A case study in business communication. (Master's thesis, Brigham Young University).
Sears has seen many different changes in business and has had to adjust to t...
...nal supermarket retailers will reinvent themselves over a period of time, in order to attract and maintain a loyal customer base. New concepts, neighborhood marketing, and innovation will be the key to success over the next decade.” (Imlay, 2006) What is propose is that a smart mix of products, perhaps catering to demographic tastes and needs, may tempt the shopper not drive out to the big box store, but instead loyal to their local market.
Metro Holdings Ltd is a multi-national company that operates two major business segments, namely Property Development and Investment, and Retail. This report explores the retail arm of Metro, which manages three department stores and four specialty “accessorize” stores in Singapore, and another five department stores in Jakarta and Bandung, Indonesia.