Tuesday, January 14, 2020
HBC From Fur to Fendi Essay
1. Three competitive strategies that the company HBC used prior to its sale to Zucker and NRDC are the differentiation strategy, the growth strategy and an e-business strategy. HBC used the differentiation strategy by reinventing itself with a more fashionable image through designer depot/Style depot. HBC used the growth strategy by expansion of the corporation to strengthen its share of the market with the acquisition of other retailers such as K-Mart Canada. They also opened the HBC Rewards Program to entice costumers back to its stores. HBC also used the e-business strategy by opening their online shopping program, allowing customers to have the option to shop online instead of having to go to the store. 2. Three strategies HBC adopted since the sale would be the renewal strategy, the focus differentiation strategy and the diversification strategy. Under the NRDC leadership, The BayÃ¢â¬â¢s main focus was reattracting customers. They did this by dropping over 60 percent of its previous brands and relaunching the Ã¢â¬Å"RoomÃ¢â¬ , which was located at one of its Toronto locations. Ã¢â¬Å"The RoomÃ¢â¬ is a VIP suite containing high end designers. HBC also used the focus differentiation strategy by becoming an official sponsor for the 2010 Olympics in Vancouver. By selling Olympic branded merchandise this allowed the Bay to be open to a whole new market. Selling Olympic merchandise allows Olympic fans to have the option to buy that merchandise at The Bay. HBC uses the diversification strategy by launching Ã¢â¬Å"The RoomÃ¢â¬ which allowed The Bay to then sell designer merchandise to customers, which broadened their variety to a whole new market of customers. 3. The competitive strategies mentioned before can be categorized into two categories, business or corporate level strategies. The business level strategies included, the differentiation strategy and the focus differentiation strategy. The corporate strategies included the growth strategy, e-business strategy, renewal strategy, and the diversification strategy.