Maggie Bryant, T’iundra Evans, Kevin Ross, Megan Schneider, Matthew Windle Company History Sears was officially formed in 1893 Publicly held company held under Sears, Roebuck and Co. Currently there are 867 stores, 834 are full-line stores Each store 134,000 sq. ft. typically inside malls Many product categories Many private label brands Current Target Market 1st Target Market Affluent Trendy Deals 2nd Target Market Young family Intelligent purchase Price consideration Current Value Proposition Knowledge Selection Helpfulness Value Style Current Marketing Strategy Digital and Non-digital Multiple Facebook Pages Irrelevant Postings Too many mobile apps Sears2go Sears Craftsman Sears Craftsman Garage Sears Personnel Shopper Sears Kenmore Sears Auto Current SWOT Analysis Strengths Weaknesses • • • • • Soft good lines are unsuccessful • Target market not clearly defined Exclusive brands Craftsman warranty Selection and durability of appliances Long history which gives strong reputation and trust • Only department store to include automotive SWOT Opportunities Threats • Digital offerings could be more streamlined • Employee knowledge and training • Little interaction with the brand and the consumer • Competition • Downsizing • Bankruptcy Mock ups Entrance New Mock Ups New Target Market New home buyers 20’s to 30’s young family Informed decision reduce buyers remorse Value and style Social Media & Mobile The more simple, the better Make all mobile apps one cohesive app Streamline all social media Facebook, Twitter, Pinterest Use Pinterest to encourage customers to share their “create-a-space ideas” Helpful tips posted through Twitter Relevant Facebook posts Sears Spark Sears Spark Mascot Used for in-store signage Use with Facebook Gives consumers ‘someone’ to talk to and connect with Makes selling easier “Create-a-Space” Consumer generated “Create-a-Space” by choosing Room type Paint colors Home accessories Appliances Scroll over to show price, dimensions, buy now link, and DIY tips Post to FB and Pinterest Bookshelf DIY • Craftsman Table Saw $149.99 BUY NOW • Step-by-Step DIY Magnavox 32” Class LCD TV $299.99 BUY NOW “Create-a-Space” Create consumer involvement with Sears Facebook Contest Each month $500 Sears gift card Each quarter $1000 Sears gift card and their space created in their own home Once a year their space will be created in their own home, a mock-up in their Sears hometown store, and several other stores More diversity in the work place Hiring to win and hiring smart. Hiring a mixture of women and men, so that the consumers will feel comfortable asking for help. Some men don’t want to ask a lady for help with tools and vice versa, some women might feel comfortable asking other women about home décor. Training program Employees need to be knowledgeable about the products in the store. A training class on each sections of the store. Quiz over every section that the employee was trained on. Employees must get score a 90 or above to complete the class. Everyone must be crossed trained, so that they are all experts at all appliances at the store. People must be knowledgeable about a product to be confident in it and confidence sales. Partnerships HGTV 33% of users makes decisions off what HGTV suggest along with a 95% of consumers are brand aware Candice Olson Vern Yip DIY network 18% of consumers decides to purchase products based on this site. Josh Temple Amy Matthews Post SWOT Analysis Strengths Weaknesses • • • • • May lose customers by eliminating soft line product categories • Lose of customers that are not interested in DIY Trained and knowledgeable employees Clear understanding of target market Customer experience in-store and online Connection with consumers through social media SWOT Opportunities Threats • Grow and expand the “create-a-space” program • Gain more customers in the home owner and DIY market • Negative ROI • Stronger competition References Shapiro, L. (2012, April 12). Majority of us smartphone owners use devices to aid shopping. Retrieved from http://www.digby.com/mobile-industryresources/mobile-industry-statistics/ Smith, S. (2011, August 18). Sears reports deeper loss; ce sales lower. Retrieved from http://www.twice.com/article/472534Sears_Reports_Deeper_Loss_CE_Sales_Lower.php Stambor, Z. (2011, September 12). Social media dominates the web time of american consumers . Retrieved from http://www.internetretailer.com/2011/09/12/socialmedia-dominates-webtime-american-consumers Newsroom. (2012). Sears Holdings Website. Retrieved from http://searsmedia.com/sears/sears.htm Vranica, S. (2012). Knights, Pirates, Trees Flock to Facebook. Wall Street Journal, B1. Zimmerman, A., & Chon, G. (2012). Corporate News: Sears Seeks Offer for Lands’ End. Wall Street Journal, B4.