Provide a response to this discussion post in your own words: Factiva provided f

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Provide a response to this discussion post in your own words:

Factiva provided financial statements from 2013-2017 (attached below) which shows an upward trend and history of increased gross income, operating income, and net revenue until 2017. The current condition of the company is a path of a downward trend in terms of finances but it is too early to see if it will be temporary or an ongoing decline.

Key factors of Vitamin Shoppe’s financial situation (USD, in millions):

Net revenue: 1,178.69

Gross income: 351.51

Selling, General, and Administrative Expense: 300.94

Net income: -252.15

Operating income: 27.47

Considering the current downward looking financials, The Vitamin Shoppe needs to be smart about new strategies and how they allocate their funds. Their industry is rapidly changing how items are being distributed to customers so they need to keep up with current trends better than they have been in the past. Not all strategies need to take up a lot of their finances and they should explore cheap/free marketing strategies in addition to improving on what has made them successful in the past.

With the Vitamin Shoppe being in one of the most competitive industries, they need to constantly come up with new strategies to stay ahead of the curve and recognize consumer trends sooner rather than later. Their business was able to get to where it is today by having good core values and sticking to them. They need to maintain those values while improving on many aspects of the business such as: rewards programs, distribution channels, and customer service.

Explanation / Answer

Vitamin Shoppe has been doing better in the previous times but as we can see through the financial situation of Vitamin Shoppe, declination is taking place. The world is changing and implementing new technologies for marketing, vitamin Shoppe should also implement the same structure to increase their overall customer engagement. Allocation of the points should be based on prioritising customer engagement rather than focusing on distribution. For better distribution platform, automation is key thing which should be considered for warehousing and inventory management.
Designing new Strategies for the organisation would help it to stay competitive into the market and to excel in the market segment. By using different forecasting techniques and understand my customer demands as well as an industry orientation, vitamin Shoppe can easily increase their overall effectiveness in doing business within the industry. Redesigning the core values of the organisation and improving accordingly should be the main goal when should implement new programs including regarding the employees for boosting the performance or better customer experience by implementing news channels for customer care.

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