Hbc: from Fur to Fendi
HBC: FROM FUR TO FENDI
1. Describe at least three strategies used by HBC prior to its sale to Zucker and NRDC.
3 different strategies used by HBC prior to its sale to Zucker and NRDC are: 1) Creating a new rewards program that would allow customers to receive rewards based on the purchases they made. This strategy would then induce customer to buy more products and then receive some sort of compensation for it. 2) Next strategy which they had used but did not fare as well was known as "reduced focus on steep discounts". Early in 2001, it tried to reinvent itself with a more fashionable image. 3) The final strategy was to provide customers with online shopping. This would allow customers to view and purchase products in the comfort of their own home 2. Describe at least three strategies HBC adopted since the sale.
3 Different strategies HBC has adopted since the sale were to: 1) The first strategy was to focus on retracting customers by dropping over 60% of its former brands 2) Another strategy was to relaunch the "Room", a plush VIP suite at one of its Toronto locations, with high-end designers such as Armani, Ungaro, and Chanel 3) HBC also become the official sponsor for the 2010 Olympics in Vancouver. They had become the official outfitter of the Canadian Olympics team and the only provider of any Olympic brand merchandise
3. Categorize the above strategies in to either business- or corporate-level strategies
Business Strategies: 1) Giving customers Online Shopping 2) Starting a rewards program
3) A focus on retracting customers by dropping over 60% of its former brands
Corporate Strategies: 1) Reduced focus on steep discounts
2) They relauched the "Room", a plush VIP suite with high end designers
3) Became official outfitter of the Canadian Olympics team and the only provider of any Olympic brand merchandise
References
Schermerhorn Jr., John, and Barry Wright. Management Second Canadian
1. Describe at least three strategies used by HBC prior to its sale to Zucker and NRDC.
3 different strategies used by HBC prior to its sale to Zucker and NRDC are: 1) Creating a new rewards program that would allow customers to receive rewards based on the purchases they made. This strategy would then induce customer to buy more products and then receive some sort of compensation for it. 2) Next strategy which they had used but did not fare as well was known as "reduced focus on steep discounts". Early in 2001, it tried to reinvent itself with a more fashionable image. 3) The final strategy was to provide customers with online shopping. This would allow customers to view and purchase products in the comfort of their own home 2. Describe at least three strategies HBC adopted since the sale.
3 Different strategies HBC has adopted since the sale were to: 1) The first strategy was to focus on retracting customers by dropping over 60% of its former brands 2) Another strategy was to relaunch the "Room", a plush VIP suite at one of its Toronto locations, with high-end designers such as Armani, Ungaro, and Chanel 3) HBC also become the official sponsor for the 2010 Olympics in Vancouver. They had become the official outfitter of the Canadian Olympics team and the only provider of any Olympic brand merchandise
3. Categorize the above strategies in to either business- or corporate-level strategies
Business Strategies: 1) Giving customers Online Shopping 2) Starting a rewards program
3) A focus on retracting customers by dropping over 60% of its former brands
Corporate Strategies: 1) Reduced focus on steep discounts
2) They relauched the "Room", a plush VIP suite with high end designers
3) Became official outfitter of the Canadian Olympics team and the only provider of any Olympic brand merchandise
References
Schermerhorn Jr., John, and Barry Wright. Management Second Canadian
References: Schermerhorn Jr., John, and Barry Wright. Management Second Canadian Edition . 2nd. Mississauga: Wiley, 2011. Print.