Executive Summary
Best Western-Objective
Best Western Australia is part of Best Western International group which is one of the world’s biggest hotel chains with over 3,000 hotels in 99 countries worldwide. There are approximately 300,000 guests who sleep in a Best Western hotel, which equates to over 144 million guests annually. There are over 150 hotels, apartments and resorts across Australia, New Zealand and the South Pacific which range from three star to five star hotels, motels, apartments and resorts which are independently owned and managed with a commitment to the common worldwide standards of quality, service and value.
Target Audience
Best Western has a varied target audience primarily aimed at Families, Singles, Business Professionals
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Best Western is positioned well in countering competition from these brands as Best Western has developed a targeted marketing strategy that has identified what the customer is looking for in a valued product and has developed a niche market for our services. A dedicate marketing and advertising campaign will ensure that the Best Western product is a market leader in providing valued choice within the travel and tourism industry.
Risk/Opportunity
Increase opportunity to capture a larger share of the international traveler market
There is a risk that the product can become too general as other companies try to mimic the Best Western product. Best Western will need to be one step of the market when deciding on future directions of the company.
Conclusions
With the ever changing domestic and global economy with uncertainty of unrest within certain demographics, Best Western will need to review their market strategy to evolve to the ever changing world. Digital technology within the industry becomes a challenge as technology grows with customers needing to be educated on the different ways of utilizing the technology to enjoy Best Westerns product on
Dicks Sporting Goods retailer is one of the leading companies in selling athletics products. Over the years, the company has achieved tremendous milestones in the industry. However, this being a competitive sector, there are various factors that inhibit the company 's progress. This research paper will conduct a SWOT analysis of the company, and there after offer possible recommendations on the effect.
Some main strengths of Trader Joe’s are the strong brand image, their employees, organic and private label products, customer loyalty, and offered unique products. Trader Joe’s strong brand image helps them to attract and retain more customers. Their private labels are named according to the background and nationality of food. They offered an extensive line of private label items with brand names such as Trader Joe’s, Trader Ming’s, Trader Jose, Trader Giotto. Due to their strong brand image, they established themselves as a leading retailer of food and non-food items in the US. Americans ranked Trader Joe’s overall as No. 1 retailer in 2013 (Ager & Roberto, 2014). Trader Joe's offered unique and high-quality products from different countries which attract customers to try new items and stocks of 4,000 items, 80% of which bear one of its own brand names. Trader Joe's describes itself as "your neighborhood grocery store" (Wikipedia, Trader Joe’s). Trader Joe’s claimed that 80% of its customers had attended college. The company described its target market as “intelligent, educated, inquisitive individuals” and they reach this customer by opening store among well-educated residents (Ager & Roberto, 2014). Their customers are too loyal towards their brand image so they keep coming back. Instead of targeting all customers, they need to target new customers in order to grow their business and to keep being a leader in the retail industry in the US. And also, their employee are valuable assets of the company, who led them towards the further growth of the company, therefore they are treated fairly and trained to provide the nice and friendly service to Trader Joe’s customers. Almost most of the people want to work at Trader Joe’s because they pay more than minimum wage and higher compare to other retail stores. New part-time hires earned $12 per hour and full-time employees earned approximately $50,000 per year which is above minimum wages. Plus, they contribute 15.4% of employee's salary towards retirement Saving. Furthermore, they offer good health and others benefits even to part-time employees (Ager & Roberto, 2014).
Walgreens headquarters is located on 200 Wilmot Road in Deerfield Illinois (Walgreens Corp. Office), they currently operate 8,173 stores in all fifty states, district of Columbia, Puerto Rico and the Virgin Islands (Facts & FAQ). With this many locations they have a large workforce, employing over 240,000 people (Facts &FAQ). About 30% of employees are healthcare providers which include pharmacy technicians, pharmacists and other heath-related professions (Facts & FAQ).
A strength in a SWOT analysis is something beneficial to the company while being an internal factor that they control. Two strengths of Bed Bath & Beyond are their registry service and personalized products. Bed Bath & Beyond offers their customers wedding, commitment ceremonies, baby, housewarming, anniversary, college, and birthday registry services. A registry is a listing of items, or a “wish-list”, of specific products that other people can purchase for you. An advantage of a registry is that it can be done electronically and is efficient for both the buyer and receiver. It is efficient because it is one central location people can go to purchase specific desired items. Bed Bath & Beyond’s most popular registry service is its wedding registry. It is regarded as the best registry by Kristi Kellog, in her article, “Where to Register: The 50 Best Wedding Registry Sites & Stores”. Kellog states, “When it comes to one-stop shopping convenience, few retailers can beat Bed Bath & Beyond. It’s the perfect place to scan all of your essentials, like housewares, linens, and appliances. And since they offer tons of different brands, you can select must-haves at a range of different price points. Plus, with free announcement cards to tell friends and family where you’ve registered, expert consultant to help you decide which items to pick, and a competition program that lets you purchase your remaining gifts at a discounted price after the big day, the retailer is a
Best Buy Co., Inc. is currently the world’s largest retailer for consumer electronics. The company has 1,400 brick and mortar stores and is a popular online retailer as well. The stores serve as display room for various online retailers. Best Buy consumers can purchase electronic products such as mobile, corded and cordless phones, televisions, cameras, personal computers, laptops, appliances and more (David & F.R., 2015). Today’s society relies on convenience and technology, forcing companies to implement new ideas and projects in an effort to maintain their ability to compete with other companies. For continued success the company must look at the internal and external issues the company may face as well as their competitors and their best practices that are contributing to their success.
Walgreens is a drugstore that also sells health and beauty products, household items, office supplies, toys, and food and beverages. The wide variety of items combined with the in-store pharmacy makes Walgreens a popular destination for shoppers who have busy lives and need a one-stop-shop for affordable prescriptions and everyday essentials. The Walgreens Black Friday ad is always popular, because the retailer offers great deals on tons of items across all departments in the store. In addition to restocking your pantry and home with the essentials, you can also find great prices on small gifts, including beauty, toys, and electronics.
The early years of the Walgreens organization focused on expanding the footprint of the operation. (Wagner & Orvis, 2013) To support this expansion Walgreens used a “command and control” strategy as a means of exercising leadership and communicating with employees. (Wagner & Orvis, 2013) As the competitive landscape began to change, Walgreens recognized that it too needed a makeover. (Wagner & Orvis, 2013) New competition entered the market such as mail order pharmacies, big box retailer pharmacies, and internet options such as Google and Amazon were selling the same products as Walgreens. (Wagner & Orvis, 2013) The healthcare industry was changing. Heightened by the passage of the Affordable Care Act, Walgreens recognized that it needed
Walgreens has to have business objectives and they are to be the best pharmacy retail store, walgreens wants to be the first choice when it comes down to either Walgreens or CVS. Walgreens wants to offer many different types of services to cater any need a customer might need. Walgreens wants its employees to give ECC (Extraordinary Customer Care) to every single customer so it feels like a family oriented business. According to the Annual Report of 2015 the main goal for walgreens is “to help people across the world lead a healthier and happier lives”(Annual Report). Now talking about walgreens financial strategy according to Rob is the financial strategy is to try to sell everything for a price, meaning if an item is supposed to be B1G1
Quick to react to market trends due to its supply chain design, operation & delivery
I agree with you. Kroger has a very good profile of every customer, or most of the customers who are the ones that use the Kroger member card when we pay at the register. They know what you buy, when you buy, what brand etc. Also with the app they track you in a real time when you enter the store. That way they know what island is the most visited and how the customer move inside the store.
SWOT analysis is very essential to be prepared by any company because it reveals about its strengths, weaknesses, opportunities, and threats. By doing this type of analysis, it will help to increase the company’s revenue, improve its performance, and try to solve its current and future problems.
The ‘Fortune 500’ is a list of top 500 companies, with the highest gross revenue in the United States. The list is complied and published on an annual basis by the Fortune magazine, and it includes both publicly and privately held companies arranged in decreasing order of their gross revenue adjusted for excise taxes. The Fortune 500 list was first was published in 1955, and originally included only manufacturing, mining, and energy industries, but now it has been extended to include service companies as well such as life insurance companies, commercial banks, retailers, transportation etc.
Best Buy demonstrates several of strengths that have influenced their growth and made them into successful business. These strengths include but are not limited to a strong market presence, great international acquisitions, trained and knowledgeable staff, excellent customer satisfaction and service, and online presence. Best Buy demonstrates a strong market presence by focusing on their customer centricity model and its goals to marketing. The model focuses on the customer’s specific needs and behavior (Hoffman, 2009). In order to provide accurate product details to the customer, the company ensures their staff has the appropriate and adequate training to be knowledgeable of all products.
They hope to become the most innovative and responsive brand within their market without compromising their values that make them who they are. They strive to commit to providing top quality products at affordable prices,
To be the world 's largest low cost store that carries all types of merchandise for all possible consumers.