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Kelsey Buehler, Pierce Ford, Amanda Allen & Chandler RobertsonRetail Marketing - Spring 2017 - T/Th 12:30
TRACTOR SUPPLY CO. -
COLUMBIA
BACKGROUNDMission Statement: To work hard, have fun and make money by providing legendary service and great products at everyday low price
Headquarters: Brentwood, TN
Opened In: 1938
Growth Strategy: Market Penetration▸ Opened approximately 115 stores in 2016▸ 2500 Plan
Retail Mix
Retail Mix:▸ Currently offer 13 exclusive brands▸ Exclusive brands represented approximately 31% of
TSC total sales in fiscal 2015, 2014, and 2013.
Target Market▸ Recreational farmers▸ Home, land, pet and livestock owners ▸ DIYers
Characteristics:▸ Loyal and growing▸ Conservative and self-reliant lifestyle ▸ Consistent▸ Above average income and below average cost of
living
Target Market
Climate Change:▸ Seasonal Offerings
Competitors:▸ Lowe’s▸ Home Depot▸ Orschelns▸ Sherwin Williams▸ Lumber Liquidators
Low Brand Recognition
KEY ISSUES
KEY ISSUES-
CONT.Underdeveloped Omni-Channel Presence:
▸ E-commerce, M-commerce, Social Media
Market Expansion Opportunities:
▸ Women
▸ Urbanites and Suburbanites
▸ Strengthen in-store experience
ALTERNATIVES
1. Stay The Course2. Focus On Online Platforms3. Enhance In-Store Experience4. Target Urban Environmentalists
ALTERNATIVE 1:
STAY THE COURSE▸ Market penetration▸ Targeting customers who work in
occupations other than farming▸ Promotion:
▹ Newspaper circulars▹ Customer targeted direct mail▹ Digital offerings▹ Email offerings
ADVERTISING
EXAMPLES
ALTERNATIVE 1:
STAY THE COURSE
CONT.▸ Striving to be an environmentally
sustainable business
▹ LEED Certified
▸ Multichannel retailer
▸ Efficient supply chain
▸ Investing in inventory planning and allocation systems
▸ Emphasis on employees
ALTERNATIVE 2 -FOCUS ON ONLINE
PLATFORMSCurrent:▸ Digital offerings▸ Overwhelming website▸ Small social media following▸ Little brand recognition▸ YouTube▸ Order online, pickup in store
Suggested:▸ Simplify website▸ Closely monitor social media interactions and customer
reviews▸ Encourage customer reviews▸ Prospect marketing
ALTERNATIVE 3: ENHANCE IN-STORE
EXPERIENCE
Current:▸ Customers only stay 15 minutes
Suggested:Create interactive and more pleasant
shopping▸ DIY classes▸ Channel “Bass Pro” style seminars▸ Organize exterior more interactively▸ Add carpet, and more color interiorly
CREATE
INTERACTION
STORE AMBIENCE
ALTERNATIVE 4:TARGET URBAN
ENVIRONMENTALISTSCurrent:▸ Stewardship Program ▸ LEED certified distribution center
Suggested:▸ Smaller stores with urban garden products in urban
areas▸ Encourage more DIY customers
SUSTAINABLE
LIFESTYLE ▸ Offer DIY demonstrations of upcycling and urban
gardens
▸ Chicken Coop How-To
RECOMMENDATIONStay the course▸ Have competitive advantage ▸ Making critical investments▸ Growing tremendously▸ Guard against inertia
STOCK INFORMATION