Sir Name 3
Place
For the place, Sears needs to improve how customers access its goods. Considering that
the growth of the internet and technology has made people to prefer buying from home rather
than going to the market, the company needs to introduce online stores where clients buy online
and goods are delivered to them. Such stores can only perform well if the company utilizes as
many online payment methods as possible in order to capture clients with different modes of
payments. Therefore, the company needs to partner with as many companies offering online
money transfers as possible, such as Skrill, Paypal, credit card, debit cards, wire transfer,
Payoneer, western union, among others. Such an online market will help the company expand its
market not only in the US, but also in other parts of the world where people have access to such
payment methods.
Promotion
Because Sears has literary fallen, it needs a promotion strategy that will present it as a
new company that has come with completely new ways of operation. Rather than advertising its
current strengths, Sears Holdings needs to come up with new strengths and make them known to
the public through advertisements. It can start with something small such as a distinct way of
serving customers in a better manner to ensure that they are satisfied. Presenting such strength
will be better than just presenting what it has been presenting as it will help the public to view
the company as revived. Also, because the company is making loses at the moment and may not
be able to fund costly promotion activities, it can focus on cheap ones such as social media
advertising, customer service improvements, among others. With time, the company can
introduce more expensive advertisements.
