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bass pro shops marketing analysis
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Bass Pro Shop has been a celebrated retail store, that is every outdoors man/woman, and child’s dream. This store gets more visitors each year than Disney World. When you walk in to a Bass Pro Shop store you’re walking into an outdoor sanctuary that provides, food, clothes, equipment for the great out doors, entertainment for the whole family, and so much more. As for marketing Bass Pro has it down to a “T” providing the needs of all people in a convenient location. Breaking down Bass Pro Shop’s success can be related to their S.W.O.T. The success of Bass Pro has also made other companies use the destination development method. To begin, Bass Pro is successful nation wide for many reasons mostly because they focus on their strength’s as a …show more content…
Bass Pro Shop has many United States locations, and the number one opportunity I see available is sharing their products worldwide. This would include opening new stores in different countries and trying to sell to a new target market. Although, this would be an expensive cost it could potentially pay off to increase their profit. Retailers that sell sporting goods are plentiful; causing major threats to the business Bass Pro Shop receives. The number one threat is competitors of other businesses. This would include Cabela’s, Dick’s Sporting Goods, and Gander Mountain. They all sell the same kinds of products and sometimes for cheaper. This aspect makes it hard for Bass Pro not to go over the top for everything. Bass Pro is a successful retailer for destination development that other companies are starting to pick up. Other companies are seen the success brought from providing everything in one place and they are doing it themselves. Stores that incorporate destination development include, IKEA and Trader Joe’s. Both retailers provide everything you need in more in one location. They make it fun for all ages whether you’re interested in those products or not. Everything on display is made to catch you eye, and almost everything is available for
Lowe’s grew through strategic choice by heavily focusing on key functional areas involving research and development (R&D), marketing, and logistics. Lowe’s important R&D investments included the creation of two prototype stores. The first prototype with 147,000 square feet catered to large markets and the other with 120,000 square feet catered to smaller markets (Rouse, 2005). Lowe’s used these store prototypes to help guide their continued growth and store placement. The prototypes also aided the company in designing future stores more efficiently with respect to energy and sustainability (Lowe’s Companies, Inc., n.d.). Furthermore, Lowe’s marketing strategy concentrated on attracting new customers and enhancing current customer satisfaction. To bring new customers to the store, Lowe’s engaged in a pull marketing strategy (Wheelen & Hunger, 2012). The com...
Bass Pro offers a wide variety of products and services allowing them to acquire shares in many markets. Bass pro’s Functional strategy would be that of a people strategy regarding the experience as an attraction and from an HR perspective. Bass Pro’s employee makeup is that of a diverse company and sometimes includes experienced and uniquely skilled craftsman. This type of recruitment often difficult and costly due to the lack of supply in skilled craftsman like boat makers, gunsmiths, blacksmiths. Bass pro’s website and boat manufacturing could be considered more product oriented in that they tend to be more focused on research and development as well as heavier marketing strategies. The E-business side of Bass focuses more on a support strategy allowing for the analysis of trends and data to drive marketing and operational processes. Bass Pro’s extensive diversity in product offerings allows them to develop multiple functional strategies for specific areas.
On April 4, 2008 Goldman, Sachs & Co. submitted a prepared prospectus for Dollar General Corporation. According to the prospectus, Dollar General is the largest discount retailer in the United States by number of stores. They serve a broad customer base and majority of products are priced at $10 or less and approximately 30% of products are price at $1 or less. They believe that their combination of value and convenience is what has kept them ahead of their competitors since opening in 1955. Dollar General has had substantial growth in recent years, growing their number of stores from 5,540 as of February 1, 2002 to 8,229 as of February 2, 2007. This growth encouraged Richard Dreiling,
In order to compete they would have to be able to price match their products and provide the wide array of consumer services like Best Buy. With over 1,700 stores in the U.S. this allows the consumer easy store access with product and employee interaction of which manifest the loyal returning consumer. These factors in combination would entail a vast amount of working capital from the start along with experienced employees and therefore detouring new
I would suggest that they incorporate more diversity in their ads and campaigns to reach different ethnicities if they want to continue to expand. Also, in stores, particularly the Willow Grove, PA location, is very large and spacious. Upon entering the store it is primarily women’s apparel and accessories, as well as men’s. Maybe the company can incorporate more of its products in this location, to provide consumers with more of a product assortment.
The opportunities to acquire other companies in Europe, Asia, and South America are virtually unlimited, and Wal-Mart always has the option to build its own stores there as well. Wal-Mart has also created additional opportunities for itself by designing several formats for its stores. The superstore concept which is such a success in the U.S. can be used in foreign countries where indicated, but Wal-Mart has also developed other store concepts that it can use where conditions seem to favor them: discount stores, neighborhood markets, and Sam 's Club warehouses, in addition to Internet web sites in the native language of the country ("Wal-Mart Fact Sheets"). Wal-Mart can exploit its opportunities by developing distinctive branding such as the Sam 's Club for every segment of its
Retailers rely on product positioning to bolster the value of their products. Determining product positioning requires the analysis of target customers, the market competition, the definition of competitive advantages, and the communications needed to deliver the chosen position to the consumer. Kohl’s is an example of a department store that has successfully deployed a pricing a retail strategy, which evaluates and incorporates price, place, product, and promotion.
Based on the articles and company literature, I believe that Bass Pro Shops need to propose the cultural integration to achieve greater synergies. When two companies merged, it is unlikely to have a 100% fit. A certain degree of change is inevitable. Since Bass Pro and Cabela has been in the industry for many years, each has its own competitive advantage. For example: Cabela ranked better in social media presence, returns, refunds, and exchange policy. On the contrary, Bass Pro do exceptional well in pursuit growth strategy by providing excellent customer satisfaction. I would recommend to take the best of both cultures and create a new one by using the following Action Planning.
Once the target market has been identified it is important to develop a marketing strategy. In today's fast paced, information overloaded society; conveying a message about a product seems to be more difficult than ever. The consumer is bombarded with advertising everywhere they look. Today advertising not only exists on television, radio, magazines, and newspapers, it can be found on billboards, park benches, in our mailboxes, on buses, taxis, at sporting events, and on clothing.
Advantage: Expanding the sale of products in foreign countries will help UA to become a global competitor in the world market for sport apparel and performance products; enhancing the global awareness of UA brand name and strengthening the appeal of UA products worldwide.
Breaking into new markets helps the company grow and brings in new customers, which leads to higher profit margins.
According to Forbes magazine, the electronics retailer Best Buy has been the downfall for many years due to a wide range of various different reasons.
The threat of new entrants is moderately strong. Incumbents do not strongly contest entry of newcomers, but existing industry members are consistently looking to expand their geographic reach and offer a broad product assortment. Brand awareness and customer loyalty are high and greatly important i this industry.
When analyzing an organization’s target market, the first step is to understand the business and what they hope to achieve through their marketing strategies. Targeting and positioning strategies consist of analyzing and identifying segments within a given product-market, choosing which segment or segments to target, and developing and implementing a positioning strategy for each targeted segment (Cravens & Piercy, 2009). The company’s target market determines what customer group or groups the company wants to serve (Cravens & Piercy, 2009). Analyzing IKEA’s target market allows the company to determine if their marketing strategies have successfully targeted their intended customer group or groups. Discussing the company’s positioning strategy helps determine if the strategy is effective or if the company must make improvements strengthen their positioning strategy. The company must determine if their targeting and positioning strategies may be lacking. If the company’s targeting and positioning strategies are lacking, the company must determine what they must do to strengthen their targeting and positioning strategies.
To increase the amount and type of stores internationally, as it is in the United States.