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Kmart marketing strategy
Kmart strategic analysis
Struggles of kmart
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Kmart started off on the right foot back in 1899 and was a major player in supplying goods to the consumers from their small five and dime stores. From there they started to expand, they were a provider of low-cost merchandise but once the competition (Wal-Mart and Target) started opening they started loosing the fight. Since that time they have been through many changes and many hard times. By 1962 they started opening full line discount stores which continued to help the company succeed. From 1980 - 2002 five different CEOs ran the company. Some of their strategies were focused on the same track as the one before them while others had to change direction entirely in order to fight to turn the company around. Kmart has suppliers that they order their goods from so they can keep their shelves stocked. They do not make any of their own products however they do try to differentiate themselves by selling exclusive brands that include Thalia Sodi, Jaclyn Smith, Joe Boxer, Martha Stewart, and Sesame Street. Kmart¡¦s strategy has changed a few times since they started out and may continue to change in order to succeed. They have faced bankruptcy in the past and have fought to continue to compete against their competitors.
Kmart has many competitive and environmental forces impacting the industry today. As all organizations do some or these forces are opportunities for them while others are threats to the organization. A few of the forces are their rivals or competitors, the substitutes that can be used, and the new entrants into the market.
The main rivals among the merchandising companies are Wal-Mart, Kohls, Family Dollar and Target among many more. Wal-Mart and Target are their main rivals, this is because Wal-Mart is known for their niche as having the lowest prices and Target is known for their fashions and home furnishings both of these items Kmart tries to compete against. Also buyers see Kmart as a discount store which doesn¡¦t stand when other competitors have lower prices. Kmart¡¦s customer service and available products are two other items that Kmart fails to be a strong competitor in against these rivals. Therefore, the rivalry among the merchandising stores is a strong competitive force in this market. Another external force that affects the market is substitutes.
Substitutes are the items a customer can buy to replace the items they purch...
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...o the picture. By getting rid of their food items they would also have more room on the shelves to stock the much more requested items that customers want. Since Kmart is up against a couple well known companies they are going to need to stand out. They have their exclusive brands which is great if that is what the customer wants. They need to really push these items by marketing (TV spots and newspapers) so the consumer feels they need to have these items. They also need to put standards in place so that anytime research is done there is a project team put together to implement what changes need to be completed. Their strategy to win back the customer is failing because they are not implementing the needed changes. Instead they are closing down stores and not remodeling the ones that are still in business. They are loosing the market share to both Target and Wal-Mart because they are so focused on how to make another buck that they are not focusing on what really matters, the customers. Until the customers are satisfied with the stores product (being on shelves), the service they receive and the location and shape of the stores they will not return as loyal customers to Kmart.
The dancer, Martha Graham, once said “Censorship is the height of vanity.” Ray Bradbury would agree. Censorship makes media shallow and information limited; individuals living in a harshly censored society will be engulfed by feelings of hollowness. For instance, Montag from Fahrenheit 451 feels that his life is missing something, and believes that the books he burns hold it. Clarisse’s classmates learn absolutely nothing in school, and are tired out to the point that they cannot think. Even more, Beatty, the novel’s largest advocate for censorship, has a breakdown, in which he implied that he read heavily, and that his job as Fire Chief caused him deep, inner turmoil. In Fahrenheit 451, censorship and the obstruction of free thought is portrayed
Kohl’s also boasts a loyal customer base and strong brand equity. These strengths are critical to offset their weaknesses. Flaws include an imbalance on sales for men’s products and a lacking online presence. (Kohl's Corporation, n.d.) Another way that Kohl’s is actively counterbalancing their negatives is by capitalizing on opportunities. Kohl’s has found that their beauty sections are an immense source of opportunity. As a result, the company is expanding those departments in an effort to capture those sales that would otherwise go elsewhere. (Wahba, 2014) Finally, Kohl’s keeps the knowledge of their threats at the forefront of their decision-making. They understand that their coupon system can be abused and cause profit losses. They also recognize that price wars in their industry can also be very damaging. As a result, they are working towards more secure methods of offering savings and strategically making efforts to remain the leader for price setting. (Wahba,
The competition of Wal-Mart's low prices is a weakness for Kmart, because they are unable to match these prices. Another weakness is their stores are considered old and outdated, their distribution systems is not very efficient. Kmart does have some opportunities that could improve their sitituation, with the purchase of the IBM systems this will give them an improvement in customer relations and processing, update the old store with a new look, increase advertising of their strongest brands, work on developing a new supply chain management that can handle data efficiently, this will eliminate unnessacerry inventory in house. If Kmart puts these opportunities in place they might be able to stay in the game.
In general merchandise retailing, Wal-Mart’s primary competitors are Target and Kmart. Retail superstores such as Circuit City and Bed, Bath, and Beyond, also provide retail competition. A survey found that the majority of respondents favored Wal-Mart over stores like Target and Kmart. Respondents claimed Wal-Mart offered lower prices, better variety and selection, and good quality. The needs of consumers is an important economic feature in all competitive environments. What attributes (price, variety, quality, etc.) prompt buyers to choose one retailer over another is very important in the competitive landscape.
As revealed by the SWOT analysis earlier Kmart has potential to pull itself out of its current position of facing closure. In order to exploit opportunities and counter threats Kmart needs to build on these competencies to strengthen its position and counter internal weaknesses against the single largest industry threat - increased competition in a mature market.
Crime is highlighted in either the consensus view, conflict view, or interactionist view. The consensus view identifies crime as offensive to the whole society. Substantive criminal law is a reflection of the beliefs and values acceptable to the current society. Consensus emphasizes the existence of a community wide agreement stating which behaviors should be classified as crime. This means that the existing legal structure of the society establishes the rules and beliefs and function together as crime when disobeyed. The conflict view views society in a constant conflict due to the fact that it is filled with several diverse groups. Groups with more power are capable of progressing their position via law and the criminal justice system. It seems that criminal laws are put into effect in order to protect the wealthier groups from the poor. Conflict view protects the upper classes’ power and position by adding to the low...
During the mid 1960 s Dr. Bruce Tuckman published his theory on four stages of team development known as the Forming, Storming, Norming, and Performing model. Throughout a teams developing stages, Dr Bruce observed that a team develops through four stages and during each stage of team development various types of demands are place upon a group of individuals. As the demands change so does their behaviour when in fact all they are trying to do is work together successfully by forming a team which has a specific purpose.
Mass media is a mediator that is used to broadcast information to public and it can present in numerous ways via print media, electronic media and interactive media. The function of mass media is very broad which can vary from an important role of shaping public opinion to individual for entertainment. In today’s world, there are lots of people using media to communicate and connect to the world, those people distributed to sender and receiver. Indeed, the largest sender is the origins of media such as newspaper, radio and internet. These senders give massive information to public, including propaganda, latest news and education. More and more people rely on the platform the media provided in order to socialize the interpersonal relationships
The introduction of a large grocer like Walmart into a community is not without controversy however. When a large corporate grocer comes into a community, it can be very difficult for smaller grocers to compete. Walmart has an extensive nationwide distribution system with many warehouses, allowing it to more efficiently store and transport inventory. This gives them a large advantage over smaller grocers, as it allows them to price items as a lower price since their expenses are also lower. In this regard, Walmart could be viewed as an economic disruptor by owners of former grocery stores, as it drives them out of business by possessing many competitive advantages. If the competition is driven away by Walmart, Walmart may be free to raise prices
On the other hand, Kmart is an also a well-known store that sells almost the same items at Target. But Kmart is closing due to its loss. Let's first look at how Kmart started. Kmart was also open in the year of 1962 in downtown Detroit Michigan. According to Sears Holdings, " The Kmart name has become a symbol of Americana, standing for quality products at low prices." at that time Kmart was the number three retail store behind Walmart and Target, which this also shows that Walmart was the first retail store in the
The key issues for K-Mart strategies are finding the right cost level for an opportunity to be aggressive, and differentiating the product for consumer in terms of different consumer and different intangible product attributes. K-Mart and Sears should be combined with a new overall corporate competitive strategy using a cost focus. This may turn out to be the only sensible strategy, and the one which best describes the strategy adopted. Strategies of cost leadership and product differentiation are often described as if they were mutually exclusive you can either pursue one or the other, but not both.
Goal clarity is a specific performance objective, phrased in such concrete language that it is
Overall, the norming stage is when group members start to work as a team. The team’s energy is now shifted to achieving the team goals and task. Production has now increased due to the cohesion of the group. The team may find that this is an appropriate time for an evaluation of team processes and productivity. This now brings us to our fourth stage,
Competition other nearby stores such as KMart, walmart, target, and many franchised clothing stores and etc.
This move came after Kmart proposed to buy Sears Roebuck for about $11 Billion. As per the terms of the transaction, Kmart shareholders received one share of the Sears Holding for each Kmart Stock (Article 13). At the time of the merger both companies were both top 10 retail stores, so they were hoping with the merger that they would become the top retailer in the nation. But after the merger they ran into some speed bumps. As Joe Clayton, president/CEO of Sirius Satellite “The Major challenge will be to address their different customer bases. They will probably have to amalgamate their operations. Maybe come up with a different merchandising Strategy” (Article 1). Analyst were also thinking with the merger that they would both go towards the IT direction of Sears. Rob Garf, an analyst at AMR Research Inc. said it would make sense for the retailers to head in the IT directions of Sears. “The combined entity needs to continue the momentum that Sears has gained over the last couple of years,” Garf said. “It’s important for them to not slow that process down” (Article