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The company holds only 7.9% market share (FY10) to main competitor Bed, Bath and Beyond with an astonishing 34.4%. (William-sonoma.com/investors) BBB’s strategy is to offer competitive prices for quality products. Its’ target market is middle to upper middle class and this is the reason it fairs better in the current market. The Bombay Company’s strategy was to increase its’ footprint by increasing outlet store locations so it could offload clearance items and increase sales to the outlet mall customer base. (Homeaccentstoday.com). Crate and Barrel decided to complete a nationwide marketing campaign that targeted catalogs and websites. While Pier 1 Imports, in a bold move consolidated chains, and licensed their name to Sears in Puerto Rico. (turnaround.org). Door to Store decided to convert and market to style-minded customers at low prices capitalizing on web selling and shipping nationwide. (buyfurnitureyoulove.org). Rolling Pin Kitchen Emporium switched most of its locations to upscale malls and targeted marketing thru websites and catalogs. While Restoration Hardware seemed to advertize to its wealthiest customers targeting the top 10%, attempting to expand its base. If I had to choose one of these strategies I would have to go with the one I mentioned first. I am aware that this was not a in the original case study but in researching I found the Bed Bath and Beyond strategy to be most formidable
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(prophet.net).This shift was so successful it moved the use of the internet to Pottery Barn, and other retail outlets. The result was 500% increase in internet sales and a 1 billion dollar profit. They also used the web to launch PB Teen which focused on the gap in age between Pottery Barn and Pottery Barn Kids. Each website is interactive now but PB Teen was the first with outstanding success. This appealed to dialed in kids wanting something to improve their own piece of sanity, their bedrooms. The interactive site allows the exchange of ideas, instant feedback and the customer has the ability to view products they like. Williams-Sonoma has already completed its’ internet shift. I feel they can rely more on the model by providing 24 hour online support to those consumers that have odd hours. Furthermore I believe the company should limit its’ use of hardcopy catalogs unless specifically requested because this focus had established itself as a business, does nothing for it in the future. Another approach is marketing thru social networking sites. This approach, along with direct marketing does have its’ costs and would show profit after the initial cost blast. If the company wishes to improve its’ position of 7.9% market share, it will need every edge it can possibly
(prophet.net).This shift was so successful it moved the use of the internet to Pottery Barn, and other retail outlets. The result was 500% increase in internet sales and a 1 billion dollar profit. They also used the web to launch PB Teen which focused on the gap in age between Pottery Barn and Pottery Barn Kids. Each website is interactive now but PB Teen was the first with outstanding success. This appealed to dialed in kids wanting something to improve their own piece of sanity, their bedrooms. The interactive site allows the exchange of ideas, instant feedback and the customer has the ability to view products they like. Williams-Sonoma has already completed its’ internet shift. I feel they can rely more on the model by providing 24 hour online support to those consumers that have odd hours. Furthermore I believe the company should limit its’ use of hardcopy catalogs unless specifically requested because this focus had established itself as a business, does nothing for it in the future. Another approach is marketing thru social networking sites. This approach, along with direct marketing does have its’ costs and would show profit after the initial cost blast. If the company wishes to improve its’ position of 7.9% market share, it will need every edge it can possibly