Kmart has many competitive and environmental forces impacting the industry today. As all organizations do some or these forces are opportunities for them while others are threats to the organization. A few of the forces are their rivals or competitors, the substitutes that can be used, and the new entrants into the market. The main rivals among the merchandising companies are Wal-Mart, Kohls, Family Dollar and Target among many more. Wal-Mart and Target are their main rivals, this is because Wal-Mart is known for their niche as having the lowest prices and Target is known for their fashions and home furnishings both of these items Kmart tries to compete against. Also buyers see Kmart as a discount store which doesn!|t stand when other competitors have lower prices.
Kmart!|s customer service and available products are two other items that Kmart fails to be a strong competitor in against these rivals. Therefore, the rivalry among the merchandising stores is a strong competitive force in this market. Another external force that affects the market is substitutes. Substitutes are the items a customer can buy to replace the items they purchase for the same need previously. Kmart!|s competitors are able to supply goods to substitute the items they are purchasing at Kmart. Many times these items may be better quality or lower prices. However many customers grow attached to a brand or store and in turn become loyal to that brand/store. However, a customer may only shop on the basis of price or customer service.
The Term Paper on Staff Member Electronic Item Customer
Major It Assignment Introduction As a part of year 12 subject Information Technology we had to create an electronic database, we were given a question sheet and we had to follow it. We were given our choice of making a database on anything we wish as long as we meet all requirements. We also had to do a write up for our database, once the database is created we will assume that it is actually ...
In Kmart!|s case they do supply products that are exclusive to Kmart, for instance, Thalia Sodi, Jaclyn Smith, Joe Boxer, Martha Stewart, and Sesame Street. This may make or break a customer which means that competition from substitutes is a moderate force in the market. For Kmart, the customers using substitutes for their product may be a tough one for them to outlive. However, there are other external forces that affect the market which may not be so difficult for them to compete in. One of these could be the entry of new entrants or competitors in the market. Every company has to be concerned about the threats of new competitors.
The cost to open a store and compete in this market is not ridiculous however with the competition being as high as it is today it would be hard to succeed unless it was a large a chain or they differentiated themselves in a way that the consumer felt the product was worth the money. For a new entrant to successfully compete against them it would take time and money to build a good company. Therefore, the threat of new entrants into the merchandising market is a low competitive force for Kmart at this time. For Kmart there may be some great opportunities out there they could really open up the market and show the consumers this is the store they want to shop at. Kmart!|s technology has improved over the years however the high quality of technology today could make their world an entirely different place if they would invest. They could use it to account for all the products that are sold and instead of ordering the items themselves they could be directly connected to their suppliers.
This would enable the supplier to know when a certain product is purchased. This in turn will allow them to send another one out to the store so the inventory of products is what the customer wants. This could cure the issues they are having with the product needed not available on the shelves. They could also create self checkout lanes to enable more workers to be on the floor and answer questions. This could improve their customer service. They would also be able to place !yenhelp me!| buttons throughout the store so if a consumer is having trouble or needs assistance the employee would know right were they are to get to the customer in a satisfactory timeframe. There are so many ways Kmart could improve their stores by updating the technology.
The Essay on 2004 At Approximately Customer Company Store
White Marsh Electronics, Inc. 1000 Bel Air Rd. White Marsh, MD 21236 April 1 st, 2004 John Leonard 1313 Wake Forest Way Baltimore, MD 21234 Dear Mr. Leonard: This letter is to inform you that because of numerous offenses against the company's rules and regulations we are terminating your employment with us effective immediately. This letter will spell out all documented occasions with times and ...
Kmart also has an opportunity to improve by implementing the research that they have completed. Kmart has done quite a bit research to find out what needs to be done to win back their customers and if they would work on fulfilling these results they would be a better company. Not only would the company be able to solve their inventory problems but they would be able to satisfy their customers. Kmart has been going down hill for a period of time and with Wal-Mart and Target being such hard competition Kmart would be able to improve their stores and make consumers visits more pleasurable which in turn would make them want to come back again and would make Kmart more successful. On the other hand external forces are not the only items that impact the way a store should be ran. The company has some internal forces that impact how successful the company can be as well.
Kmart!|s competitive advantages and related strengths that have continued to help the company succeed are: “.
