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K-Mart SWOT Analysis Madison Allred MKTG 1030 2/23/15
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K-mart Hours are usually 8 a.m. To 9 p.m. But are extended during holidays. Located throughout the U.S. Employee numbers vary Offer store brand (Essential home/garden) as well as exclusive celebrity clothes and “WWE” merchandise.
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Company Mission Statement "We are committed to improving the lives of our customers by providing quality services, products and solutions that earn their trust and build lifetime relationships."
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Strengths Year round reliable Layaway system. Store brand “Essential Home” “Essential Garden” providing quality Upgraded K-marts known as “Big K's” provide range of products for customers. Popular celebrity brand such as Vanessa Hudgens, Jaclyn Smith, John Cena, etc. Partnered with large recognizable brand “Sears”
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Weaknesses Multiple questions asked at checkout frustrate customers. High employee turn over rate. Uncommonly short hours Priced higher than competitors (not always for better quality/same quality)
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Opportunities Turning more K-marts into Big K's. Fine tuning “Shop Your Way” Rewards program. Increasing benefits and pay for employees
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Threats Big competitors such as “Target” and “Walmart” Constant rumors of closing down More stores and districts closing each year.
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Recommendations Improve customer experience with Rewards program. Report to media on closing stores and if the brand will be sold. Continue to advertise strengths.
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Sources Farfan, Barbara. "Kmart Company Mission Statement - Vision, Headquarters and Founders Facts and Trivia of the Kmart Brand." About Money. About.Com. Web. 23 Feb. 2015..http://retailindustry.about.com/od/retailbestpractices/ig/Company- Mission-Statements/Kmart-Mission-Statement.htm McIntyre, Douglas, Ashley Allen, and Michael Sauter. Fox Business. Fox News Network, 10 Aug. 2012. Web. 23 Feb. 2015..
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