Posted: August 6th, 2013
1. If the Williams-Sonoma continues with its present strategies and objectives, where will it be in 5 years?
If Williams-Sonoma continues with its present strategies and objectives, it will have a large market share in the next five years. Since it was founded, it has delved into innovation that has maintained its performance in the competitive environment. The various changes it has made in conducting business will contribute to its future progress. According to the case study (Rouse, 2010), Williams-Sonoma has many competitors in the market who specialize in the same commodities marketed in the retail stores. Its subsequent successes in sales prompted competition from other companies at national, regional, local, and departmental levels. Over the past years, Williams-Sonoma has tried to be at purr with its competitors by extending its originality in the wide array of home products. However, without competitive advantage, it may decline, owing to the challenges experienced in highly competitive specialty retail business.
Once the company updates the database of after sales services, potential buyers will be swayed towards its side on comparing the prices and product quality. Proper management of the website would lower costs on supplies because the potential customers will have the choice of choosing the best furniture or home products according to price and quality. However, Williams-Sonoma should control how information is communicated via the web to the customers to avoid imbalance in pricing. The web will provide a strong market support and each outlet will have a link to the online shop (Naunheim, 2011). Internet has worldwide coverage, which means that Williams-Sonoma will continue to diversify its market by establishing itself online. The company should pay close attention to the customers’ needs inasmuch as it focuses on its competitors.
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