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Ace Hardware Research Presentation

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by

Meimei Meng

on 25 November 2013

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Transcript of Ace Hardware Research Presentation

SWOT Analysis
Growth Strategies
Marketing Analysis
Weaknesses
Opportunities
Threats
Additional Businesses
International Expansion
External Environment Assessment
Strengths
Convenience
The State-of-the-Art Distribution System
Franchising Strategy
Superior Services
Advertisement
Higher Penetration with Smaller Retailer Customers in the U.S.
Greater customer oriented experience by caring about every customer
Customize each store with different products for that area

Attract new customers to expand our brand name

Growing Food/Kitchen Service Sector
Noticed that there is a gap in the market for a neighborhood store
Wide assortment of kitchen appliances and accessories
Measures to Enhance Operations

Find new ways for consumers to recognize our brand name and image

Try to established retailers' cooperatives
Create new ways to cut costs and make our supply chains more efficient
Transient Firms
Firms changing from one strategic position to another
They would be taking potential customers away
Private Label Growth

New ways to enter our market with their products

Erosion of Market
Erosion is referred to our profit margins

We need to avoid aggressive expansion
We need to maintain a balance between good expansion and profitability
Highly Competitive Market

Large number of producers to compete with

We are growing to become America's neighborhood hardware retailer

Cost to Maintain a Sizable Inventory
Competitions between Franchisees
Target Market
Year 1
• Opening two more distribution centers in China
• Acquiring small manufacturing factories
• Start selling some special and high quality products online in China
Year 2
Year 3
Expanding to more Asian countries
Expanding to Japan and South Korea
OR
Going Public in China or one of the South Asian Countries
Year 1
Year 1

• Offer employees certifications for home warranty areas
• Perfect the 'call-center-in-the -store' concept
• Begin over-the-phone (or live chat) troubleshooting with customers
Year 2
• Use in-depth customer feedback to form consumer opinion data
Year 3
• Review performance metrics to ensure that customer needs are met and to determine if the new venture is profitable enough to warrant further expansion
Year 2
positioning the brand in the maintenance and repair group

Brand Position
Brand Value and Culture
Focus on convenience and service

Marketing Strategy
Can cooperate with a real estate firm for direct marketing.

Social media marketing and public relations are the main marketing promotion approach

Ace Hardware Growth Strategy
Introduction and History
• Conduct research to decide which cities to roll out the new business
• Increase inventory stores of typical home warranty repair parts
• Hire licensed repair technicians
• Purchase work vans
• Design Advertising Strategy
• Create Terms and Conditions of Home Warranty Contracts
• Begin advertising in select cities
• Redesign Ace stores to reflect the new business
• Begin collecting home warranty contracts
• Focus on core competencies of ‘friendly’ and ‘neighborhood’ feels
• Use home visits to try and up-sell other Ace products
• Begin tracking business metrics to be able to see the strategic direction to take the new company (in the future)
We collected data that is used for our strategic planning
Identify the changing customer needs and desires
More people are moving away from contracting
Quickly becoming a nation of do-it-yourselfers
We have opened numerous more stores than our competitors like Home Depot
People expect a better customer experience when entering any of our stores
evolved its marketing positioning from an in-store shopping convenience benefit to a customer service benefit
Target first time home owner, women, and younger generations
Increase customer awareness
Deliver the key benefits of the service: convenience, quality, and inexpensive
Target high-income professional and educated class
“do-it-for-you” approach
Full transcript