Wednesday, August 28, 2019
Can Sears Holdings Latest Strategy Allow the Corporation to Become a Essay
Can Sears Holdings Latest Strategy Allow the Corporation to Become a Competitor in Retail Once Again - Essay Example Can Sears Holdings Latest Strategy Allow the Corporation to Become a Competitor in Retail Once Again? This plan was woefully inadequate and profit has decreased the preceding 19 quarters consecutively. Capital and store updates are the only possible solution that analystsÃ¢â¬â¢ feel could make a difference in the demise of both chains. Sears is now competing with mega giant discount chain Wal-Mart, stylish and up to date Target and electronic giant Best Buy. Though Sears was once the catalog choice of America it has failed in building solid ground in the online retail market where others have had success (Munarriz). The ANSOFF matrix is used to generate strategic directions using product market options, possible growth opportunities are noted and explored and presented to reveal four distinct strategies2. ANSOFF focuses on using marketing strategy to achieve growth though it does not provide solutions or suggestion of how this strategy should be implemented, which requires further analysis. Sears Holdings has recently acquired a new chief merchandising officer, Ron Boire, who has previously been responsible for the success of Brookstone while also being utilized at Best Buy and Toy R Us. With Sears being such a household name for so many years it is possible that with diversification and new market development along with the maintaining of current customers through the use of reward programs and targeted marketing that Sears Holdings can compete with the larger chain retail stores.