CURRENT EVENT/NEWS ANALSYSIS
The following headline appeared on Fox Business News yesterday “Bed Bath & Beyond overhauls strategy after closings, layoffs”.
The New Jersey-based company announced Wednesday that it would “deepen” its connections with five core customer segments as part of an overall “three-year growth strategy.”
BED BATH & BEYOND INC.
In doing so, the company plans on fine-tuning its selection of products by offering a better assortment of low-priced merchandise while also improving its supply chain.
The struggling retailer is also further investing in its Omni channel shopping experience, wherein it plans to build on the recent launch of its Buy-Online-Pickup-In-Store (BOPIS), curbside pickup and same-day delivery services.
CEO of BBBY, Mark Tritton, and sets the strategy to help the company, your job, as Marketing Manager, is to:
● Prepare an Analysis of:
○ Problems (what is forcing BBBY to embark on new strategies)
○ Solutions (your recommendations – plans and execution)
● Presentation in written format 750 words with appropriate credits given to sources.
● Financial Impact of events (how much is it going to cost and the net impact – extra credit if you can estimate the stock price at the end of November 2020!).