unit 8 case study

Unit 8 Case Study Name: Institution: If the Williams-Sonoma continues with its present strategies and objectives, where will it be in five years? (200 word minimum answer) Looking at today’s economic trends, it is going to be very hard for the company to continue enjoying the economic bliss it has had in the past. Most of their products are really expensive. The trend in the market today, however, customers want more value for their hard earned cash and not fashionable expensive products. Even though the company, targets part of the population that is wealthy, which accounts for less than 10% of the total population it is still going to be very tricky for them to maintain their hold the customers. Even though the company made more than 3.5 billion in profit for the year ended 2010, within the next five years even this part f the population is going to grow the cost conscience and the company will be too late to recoup its losses. It is therefore important that they look for other ways to generate revenue, or adjust their pricing mechanisms to conform to the market trends. It is important that the company reduces its prices, so that those that are not within the 10% wealth brackets can be in a position to buy their product. This group has the majority of customers, but the catch is the price at which the products are offered to them. Sonoma’s marketing strategies need to be reviewed, especially with the entry of the cheap products from china and other parts of the world, which offer the same quality of service at the fraction of the price. In the next five years, with the same marketing strategies, William Sonoma will close down, due to their poor pricing mechanisms. However they can turn this fate around and use the internet, like they did in the Pottery Barn, while offering price that majority of the customers are comfortable with. If you were the CEO of William-Sonoma, what strategies would you recommend, and why? (200 word minimum answer) W...