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Kmart: What they are doing well Kmart is an American-based chain of discount department stores established in 1962. It is the world’s third largest discount store chain after Wal-mart and Target. Kmart currently operates a total of 29 super Centers and 1, 278 discount stores located in the U. S., Guam, U. S. Virgin Islands and Puerto Rico (Pride & Ferrell 36). These stores sell several grocery products, electronics, furniture and many other goods. There are key competencies that this company has managed to exploit and this paper focuses on listing some.
Kmart has successfully managed to establish and market its brand name, which is a trusted and well-known national brand as designer clothing and a private label that has several low-cost, well-located, and leased stores throughout the U. S. (Pride & Ferrell 36). This has helped the company attract and retain loyal shoppers. The company management has also gained staffing confidence in its market through the achievements of its managers and employees and awards given to its staff. Kmart has adopted and implemented turn-around strategy, which has significantly transformed management structure. This implies that unprofitable stores and underperforming employees are retrenched, in any renewal (Pride & Ferrell 36). This strategy ensures that a high performing staff is retained, and employees are promoted to where they can work effectively.
Kmart has also managed to limit face-to-face competition from its key competitors, such as Wal-mart and Target, by locating its stores away from them. It has employed expertise that plans the appearance and layout of stores to satisfy different customer segments (Pride & Ferrell 36). Finally, the company has established an effective retailing system through focusing on certain key areas of technology. This system helps in controlling supplier payments and inventory. It also monitors income versus profit margins, and track customer behaviors across all stores (Pride & Ferrell 36).
Works Cited
Pride, William M, and Ferrell, C. Marketing. Boston: Houghton Mifflin Co, 2008. Print.