The Dollar Tree started as a variety store under a different name in 1954 (dollartree.com, 2013). This was a family business and was interested in offering products for less money than other retail stores were able to. This brought in huge profits for such a small “mom and pop” business. In recent years the name has changed a few times until in 1990 the store name was changed to Dollar Tree. It has been the same since that time.…
According to Dr. Parnell the Miles and Snow strategy typology “considers four strategic types: prospectors, defenders, analyzers and reactors” (2014, p.196). In applying the four strategic types on Dollar Tree’s method of business, Dollar Tree has commonalities of all four strategic types, but the company distinctly fits into the prospector and analyzer strategic types. Parnell states that prospectors “are typically focuses on corporate entrepreneurship, which is the creation of new business ventures within an existing firm” (2014, p. 196). In this aspect Dollar Tree has gained notoriety for being America’s ‘Dollar Store,’ in the same fashion that Band-Aid brand has become the name for all adhesive bandages. As a prospector Dollar Tree has…
This case study about J. C. Penney Co. is about how a company is endeavoring to increment profitability by attracting the best assets in business and customers. Lowering prices, marking down prices, and offering standardized products rather than unique and “designer” (Case Study, pg. 2) product are what this company's strategy is all about.…
Ron Johnson made some bad decisions that caused him to only last as the CEO of JCPenney for seventeen months (Kinicki & Williams, 2013). His bad decisions consisted of misreading what the shoppers wanted, no testing of ideas prior to execution, distancing himself from the essential consumers, misread the JCPenney brand (Tuttle, 2013).…
One would think that retail giants like Wal-Mart or Costco would dominate the market. However, in the past few years, it’s Dollar Stores like Great Canadian Dollar Store or Dollarama that have taken the advantage, with share gains significantly higher than the ones provided by other retailers (Supermarkets, Drugstores, Discounters, etc.). The concept is one of the most differentiated within retail today, in my view. Dollar stores price their products 20% below supermarkets and drugstores, yet offer equal or better convenience…
Best Buy Company is one of the leading companies in US and Canada dealing with the retailer of the consumer electronics. The company has over 400 stores worldwide offering a wide variety of products worldwide , among the company’s major products include the following ; mobile phones, gaming systems appliances, computers , televisions among other components and accessories. However, the company has adopted a variety of strategies that sees it enter successfully into the competitive markets; for instance, it has developed a culture that promotes excellence customer services, minimized or no commission on some products, employing highly experienced and skilled staffs . These have seen the Best Buy company expand to many successful branches and increased production over some a good period of time.…
"This is not a turn-around situation," George Bradt, managing director of executive consulting firm PrimeGenesis told us. "This is a 'turn off the lights' situation."…
Dollar Tree’s first problem is that they do not allocate enough money in their advertising budget to promote an effective campaign that has the ability to produce worthwhile reach and frequency. The best media strategy for Dollar Tree is to use a pulsing technique. The pulsing strategy is an advertising timing or continuity pattern in which there is noted variation of media spending in the media schedule. A pulsing strategy is most effective because consumers use their products year round, but there are significant seasonal spikes in consumer spending around holidays, mainly Easter and Christmas. To do this, it is important that Dollar Tree maintain a moderate level of reach year round to reach its target audience. To reach the targeted audience…
James Cash Penney founded JCPenney in 1902 in Kemmerer, Wyoming. It was originally called J.C. Penney Corporation, Inc. JCPenney is known for selling clothing, home furnishings, jewelry, makeup, and cooking supplies. JCPenney has a partnership with Sephora and Ralph Lauren, which are big name brands. Their current headquarters is located in Plano, Texas.…
From Map One, we can see that Lowe’s stores are spread out across the Toronto area, covering large areas of the GTA and each store has its own large service area without overlapping with adjacent Lowe’s stores. This arrangement allows Lowe’s to develop healthy and non competitive trade areas. The large distances separating each store apart prevents internal competition forming up by individual stores wanting to gain more market control.…
JC Penny has cost a lot of money to make its strategy work and the increasing costs of the company have let down their stock prices. The retailer reported a second-quarter loss of $147 million and sales slide 23% to $3 billion according to data compiled by Bloomberg. So the retailer and stores have been losing sales and consumers, so the losing on their profits has been letting down their stock prices as well. JCP also faces lower profit margins in the due to rising commodity costs which will increase its clothing costs. They spend a lot of money refreshing their stores and putting commercials on the TV to attract consumers, but that also add a lot of costs…
There are several initiatives Dollar Tree can continue to utilize as part of its strategy to distinguish itself in this discount retail industry. First, completely closing the current Family Dollar acquisition will set Dollar Tree out front as the leader in the industry, but several next steps will need to be taken in order for consumers and investors to view this as a successful venture. First, whether the organization intends to use the Family Dollar name or convert them to Dollar Tree stores will be a point of focus. Also, determining which of the over three hundred Dollar Tree stores the organization will need to close in order to meet United States regulatory approval of the acquisition will also be important. Assuring how both of these…
Upon completion of this assignment, the student will be able to identify the structure and…
Wal-Mart, although one to the largest and most productive organizations in the world, faces many threats and challenges. Critics and groups everywhere are lining up to take shots at this global giant and destroy its image. Some of Wal-Mart’s current challenges can be seen in daily operations, its internal and external environment, product sourcing, healthcare, wages, communities, diversity, employee benefits, and social challenges. Though these challenges or weaknesses pose a very large threat to the organization, they also pose great opportunities to turn them into strengths. If these challenges are met correctly, Wal-Mart stands to gain a great amount of profit and respect among its critics.…
* Focus on continual growth and improvement while providing a reasonable return to our investors.…