Kohl’s Strategies for Success and recommendations

  • —Differentiation strategy
    • —Will allow Kohl’s to channel resources and competencies to most profitable opportunities
    • Allow Kohl’s to re-image itself as a provider of unique merchandise
    • Allow sales of unique products at premium prices
    • —But, becoming too exclusive can raise price point beyond customers’ tolerance levels

  • —Enhance customer service
    • —Individualized customer service – leverage technology to achieve this
    • Makes customers feel valued thus increasing loyalty
    • —But, could be too costly when setting structures

Recommendations

  • —pursue a strategy of differentiation similar to that pursued by Target
  • partnering with exclusive labels and designers to offer product not available in other retail establishments or online
    • —=>can capture the attention of fashion-conscious customers at a medium price point
  • Such customers are likely to:
    • —Shop for other items thus increasing per transaction average
    • —Be loyal customers

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