Company XYZ has been struggling financially for many years. The demographic focu
ID: 332425 • Letter: C
Question
Company XYZ has been struggling financially for many years. The demographic focus is on the ages 8-17. The company has not made a profit in almost 5 years and needs to revive their marketing strategy. Most sales come from in store purchases (80%), and their online stores are (20%). In their industry, there are less specialized stores that offer similar products as XYZ.
* XYZ has about 800 domestic stores and 800 international.
* Financial information: see attached
* A major competitor uses an e-commerce platform to sell products whereas Company ABC uses more physical locations so people can view the items before purchase.
Create a Marketing Strategy to save Company XYZ. How can the team create the most value for the smallest amount of money?
Possible ideas include but are not limited to:
- SWOT Analysis
- Changes in Organizational Structure
- Marketing Plan (how to keep current customer base, how to get new customers)
- Come up with an advertising plan and include price
- Distribution Plan
Explanation / Answer
XYZ company needs to follow an Omni-channel Marketing and Distribution- Delivery strategy, that is, customers can view/ buy/ pay/ pick from both physical stores and online/ website buying by getting similar buying experience, if XYZ wants to beat it’s competitors in both online and offline segment.
Since its online sales is only 20% of its revenue, hence, it needs to improve its Weakness in online selling platform as:
Develop an Operational Plan to Improve the Customer Service processes by following ways:
For boosting Physical Store sales, Marketing and Operational Plan should on following points:
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