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Williams-Sonoma continues with its present strategies and objectives, where will they be in 5 years?
In the next five years, Williams-Sonoma will make an impact on society as they are currently. One has to note that they will have become a multinational corporation (MNE). This is because they are continuously trying to find ways in which to grow, and their strategy will make this possible due to them having a website, catalog and so forth. Since they are now reaching out to the home, they are able to reach more people, especially because of using the World Wide Web to get as many customers as needed in order to gain revenue during this process (Pearson, 2010).
They are also reaching out to teens by having a website and a catalog available for them as well. This will make hype from that particular age group, especially since they will hear of the products available; all of them will want to tell their friends and family of how great their products are and word will spread because Williams-Sonoma doing whatever is needed to do mass marketing, which will become a success. One will continue to tell schools through this process, and people will continue to buy what it is he or she needs (Pearson, 2010).
As one can tell, they have many strategies. This includes a Pottery Barn and a Wedding registry as well as a gift registry. These will continue to become in demand due to meeting the needs of those in the community who are interested in buying items needed for their home setting. One can do much with this organization and much prosperity. Williams-Sonoma has a strategy that will continue to make a difference around the globe despite how much competition is present. They are reaching all ages and are utilizing every need possible in order to ensure that everything run smooth on a daily basis, such as the Internet and using mass marketing efforts. In the end, they will have many locations in which to serve their customers, which makes it all worth it (Pearson, 2010).
2. If you were the CEO of William-Sonoma what strategies would you recommend and why?
Here are the strategies I would recommend if I were the CEO of William-Sonoma. The first is that of the fact that they do not need to market to teenagers. This is because many of them are not on their own and do not pay for an apartment or a house. They would have no use for designing their own room. All he or she can do is request their parents to buy what it is one wants at that time; although, the individual will not have a job until the age of sixteen and not fully life on their own until the person is eighteen or in college. In place of it, I would suggest having the person look at what adults are doing for their house and for the teenage to choose from there. Through this approach, both are satisfied and a teenager is not forced to grow up sooner than needed (Pearson, 2010).
I do not believe that Williams-Sonoma needs a Pottery Barn. This seems quite irrelevant to them selling and retailing supplies needed for one's home. Instead, they can have a bigger product line. By doing this, they are able to differentiate their products because Williams-Sonoma is able to meet more needs. At the current direction the company is going is in the form of having a craft fair or store. When reading the case study, this has nothing to do with homes; therefore, one suggests that they do joint ventures with craft stores, so that they can have a bigger product line and bring in immense revenue for those in management and employees with William-Sonoma. In the end, everyone will benefit in the community and the world while having affiliate links added to their websites as well. Everyone will want to contribute by wanting to make money with Williams-Sonoma that believes in the products they serve as well as the classes their affiliates provide. These strategies can make all the difference for customers and those involved in making the business better (Pearson,…[continue]
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Williams-Sonoma continues with its current strategies and objectives in five years, it will be facing declining sales, declining profits and may be evaluating the merits of continuing some of these brands. Basically, the company's financials have been strong and it has responded with a variety of new brands and brand extensions. However, the company's business is cyclical, and correlated with the health of the economy and in particular the housing
What Williams-Sonoma must do is create a more unified multichannel strategy that seeks to manage the lowest-cost sales entirely online, further reduces Cost of Goods Sold (COGS) on their income statement. If Williams-Sonoma can do this they can quickly become even more profitable. The e-commerce strategies need to concentrate on creating such a unique online customer experience that prospects and longtime customers both use the Web to purchase directly
Crate & Barrel, in contrast, focuses more on furniture, with an even greater emphasis on Internet sales. Restoration Hardware because of the fact it sells even less necessary and kitschier items than Williams-Sonoma, stresses the design appeal of its stores. Pier 1 Imports and the Bombay Company likewise emphasizes the style conveyed by their stores to a greater extent than either Williams-Sonoma or Crate & Barrel, and have a
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