Sear Essay

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Recommended: Evaluate the importance of product life cycle to a business

Introduction
Being one of the largest retailer in US, Sear Holding Corporation, a parent company of Kmart, Sear Canada and Sears, used to enjoy high market share and a strong reputation. However, the sales of Sear has been declining and people are skeptical of its ability to survive in the market. The latest news revealed that Sear is going to close 64 more Kmart stores across the 28 states (Hayley Peterson, 2016). Several factors are causing the downfall of the sales of Sears. Besides the changes in consumers’ behavior and saturated market, the rash strategic decisions made by the management also led to the negative performance. This essay will evaluate the business model of Seah based on the product life cycle approach and porter’s generic …show more content…

It can be considered in a discounted retailer industry and competes with a range of retailers such as discounters, home improvement stores, consumer electronics dealers. Examples of their major competitors are Walmart, Target, Kohl's, J.C. Penney, Macy's, The Home Depot, Lowe's, Best Buy and Amazon (Annual Report, 2015). It has approximately 178,000 employees in the United States as of 2016, including the part-time employees (Annual Report, 2015). According to the contributor to Forbes, there were four main mistakes made by Sear since 1981. The first strategic decision was to invest outside its main business, into the financial and real estate services. The second decision was to restructure their operation and recruit people with not much relevant experience. The third decision was to sell their best retailers to raise funds whereas the last unwise decision made was that the improper handling of the management relationship. One of the biggest mistake that was made by Sear could probably be the acquisition of Kmart in

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