Staples marketing objectives and strategies are comparable to their competitors. Especially when it comes to online stores, the objective is similar. The three different segments to their marketing strategy are Small Business/Home office needs, Medium size around 20-500 employees then larges businesses over 500 employees. And of course the seasonal sales like back to school. These separate sales channels have marketing power to reel in each segment making for high sales. As a reminder, Staples is a brick-and-mortar store and they're competing with online stores. So what makes them different? Well it's all in the marketing and they're hitting their target every time. Why? Because Staples branding strategy was successful because of the phrase “That Was Easy”. That simple phrase shoed there potential clients that they have a large product portfolio, in stock availability, and hassle free shopping experience. Staples online marketing strategy was lacking the face-to-face communication and they didn't understand how to grasp this market at first.
Staples objectives are very straightforward and comprehensible. Staples had a global impact between 2011 and 2014. Staples sales revenues were $24 billion. What isn't bad a company who's against the new age of shopping “online”? Staples needed to also maintain an operation margin of at least 10%, and like any other company, they needed to exceed their organic growth of occupant safety market. All these factors were clearly stated and well implemented as Staples exceeded their expectations as well as significantly outperformed the industry average. For example, Staples net loss was $210 million with a ROE at 10.1 percent and they turned a profit of $620 million with a ROE -3.4 percent in 2012. The constancy is beyond expectations; the companies' portfolio has a steady growth over the years. By gaining more popularity with the public they've exceeded in every aspect. There isn't a significant difference when the statements are calculated versus the reported dollars the data with each other. The impact trends had a huge effect to Staples past performance if it didn't the business would have had a totally different affect to the market. The analysis that's taking place shows support I the past and pending decisions. There is a competitive advantage that finance provides to Staples it all starts with the simple objectives as stated above, “no long-term debt”. The comparison of the corporation financial performance with another similar corporation Staples surpasses the competitor by a minimum of 30%. Financial managers get creative when it comes to improving the performance of Staples. Financials managers have an important role in the strategic management process. They need to free cash flow, asset management, profitability ratio, and risk assessment etc. Finance copes with global financials issues by trading currencies and pulling out or minimize the risk in foreign business.
Staples objective is to perform better in every aspect. There strategies have had a big role in their unsuccessful consistency of their R&D shows in the performance and sales. Staples is lagging behind in the online retail category, with its focus on brick-and-mortar stores, as opposed to mobile technologies and e-commerce. Staples connects with their customers with social media but it's not fun. In some cases, they try to get a feel from the public and understand what they want and what they are willing to pay. Staples' re-invention strategy was focused on reducing its physical footprint and investing heavily in its online retailing business. The company appears to be catching up to online competitors rather than coming with new and innovative products and services to increase growth and profitability.
The operations and logistics is a major artery in Staples. Staples vision is clearly stated to provide every product that a business would need to be successful. For example, early in the corporation's life, they implemented different sized stores for different areas. Staples created smaller more convenient stores in the city and larger stores outside the city. As the Internet became prevalent, convenience changed to online ordering, so it adapted with online trends. Therefore, the company remained in line with their corporate mission, objective, and strategy, in both internal and external environments. While Staples had both domestic and international presence, its domestic operation capabilities are superior to its foreign operations. Domestically, the company established facilities and offerings not just based on location, but by the purchasing tendencies of its large, midsize, and small clients. While in foreign markets it had a more “vanilla” service offering in that it wasn't as strategically targeted for specific areas or company needs due to size.
Staples has so many brick-and-mortar stores all over the world, as well as many fulfillment centers. Staples has primarily low wage earning associates employed due to the nature of the business. There is not a large mix of support staff and professionals due to its product offerings. Staples appears to be performing well against its competition. Staples overtook Office Depot in 2005 as the number one office supply superstore and remained on top through 2013. Staples sheer number of store locations has created an incredible distribution channel, which has allowed it to leverage marketing, distribution, and supervising costs. The North American commercial segment has been structured to accommodate customers by segment (large, medium, small) since office needs vary. Over time they have also evolved to support Internet sales and deliveries. The trend Staples has been following, which entails leveraging new opportunities such as the Internet, is in line with its strategic objective and mission, which is to provide easy and hassle free office supply shopping in the most convenient way. These trends certainly portray the company's future trends and performance. Since most competitors have also strategically aligned themselves in similar ways, for example, Amazon with its online presence and Office Depot competing in both the brick-and-mortar and online services, the one competitive advantage that Staples has over the competition is the ability to keep its prices low through its logistics and supply channels.
Staples updated its corporate values policy in 2012, which provided guidelines for associates' interaction with customers and each other. This was implemented because the majority of associates were low-wage earners, which can cause HR issues through employee apathy and high turnover rates. This new implementation was called “Staples Soul,” which aimed at encouraging ethical behavior, establishing sustainable business practices, and diversity. Diversity was discussed as part of Staples success through employees' diverse individuals, which claimed to spur new opportunities for innovation and growth. This appears in line with the company's mission, objectives, and strategy. The “Staples Soul” corporate values policy is a technique that was discussed, but there was no mention of how successful it has been. Staples HRM is addressing how HR can improve corporate performance, but it doesn't appear to be an area that has much to leverage, other than low cost.
Information Technology is an important view in today's world of business. Due to Staples “in stock guarantees” and its gizmo of finding products in store and online, one can determine that they must have a robust information systems infrastructure around inventory.. This clearly fits their objective in being the “easy” and convenient pick by comparison to its competitors. The article talks about Staples' database and it does talk about its website and how it makes trend to continue to find products easier through web apps and doing price matching with competitors. This falls in line with its strategy of offering the most convenient and cheapest option for office supplies. It does not appear that it is a competitive advantage. The company appears to be leveraging the Internet appropriately; however, it does not appear to be pioneering any innovative technology with it. The company does have a global Internet presence; however, it does not discuss getting data across national boundaries.
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