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What To Do When A Giant Moves In Next Door

What To Do When A Giant Moves In Next Door. to debate whether Walmart is a force for evil or a force for good in the world suppliers consumers in communities retailers downtowns employees to debate whether Steinbach should have tried to keep them out. Why are we here?. . .

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What To Do When A Giant Moves In Next Door

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  1. What To Do When A Giant Moves In Next Door

  2. to debate whether Walmart is a force for evil or a force for good in the world suppliers consumers in communities retailers downtowns employees to debate whether Steinbach should have tried to keep them out Why are we here?  •  to figure out what the effect of Walmart’s arrival will probably be on your businesses to figure out what to do about it •  

  3. Probable Effects  fears & hopes media stories anecdotes experience research  ? Yogi Berra •  It's tough to make predictions, especially about the future. ?

  4. Probable Effects •  experience Ille des Chenes Saint Adolphe Niverville Ste Agathe Steinbach Kleefeld Otterburne St-Pierre-Jolys Grunthal Morris Saint Malo

  5. Probable Effects • North & South Dakota, Minnesota, Wisconsin, Michigan, Montana • Fitzgerald, Wirtz, Federal Reserve Bank of Minneapolis • The Wal-Mart effect: Poison or antidote for local communities? • Mississippi, Iowa • Stone, University of Iowa • The Economic Impact of Wal-Mart Supercenters on Existing Businesses in Mississippi • Impact of the Wal-Mart Phenomenon on Rural Communities • The Effect of Wal-Mart Stores on Businesses in Host Towns and Surrounding Towns in Iowa • Nebraska • Rosenbaum, University of Nebraska at Lincoln • Big Box Stores: Their Impacts on the Economy and Tips for Competing • US overall • Jarmin, Center for Economic Studies, US Bureau of the Census • The Role of Retail Chains: National, Regional, and Industry Results research

  6. Probable Effects research • in • surrounding • Steinbach • area • groceries •    •  • restaurants •  • ? • furniture •  •  • building supplies •  •  • specialty* •   •  • general merchandise • - • - *gift shops, jewelry stores, book stores, sporting goods…

  7. Why are we here? • to figure out what the effect of Walmart’s arrival will probably be on your businesses • to figure out what to do about the probable effects

  8. range quality desirability uniqueness product features service execution Why do people buy from one place rather than another? • convenience • relationship • friendliness • trust “What’s my value proposition?” “values” price

  9. Value Proposition • to be useful, a value proposition must be • achievable • distinctive (usually) • hard to copy • valued • by enough people • who are willing to pay you a profitable price • that you can reach

  10. Value Proposition Options • PRICE • PRODUCT • FEATURES • SERVICE • EXECUTION • Direct • Tangible • Availability • price • range / options / choice • timing • discount structure • quality • convenience • rebates • performance • delivery • credit rates • proprietary properties • Reliability • pre- & post- sales service • Indirect • Intensity • guarantees • financial assistance • sales hustle • capital vs. operating • Intangible/Image • service hustle • life cycle cost • design • relationship • cost absorption • fashions • friendliness • prestige • trust • “personality”

  11. Strategy on a Post-It

  12. Making a Strategy Real

  13. What To Do When A Giant Moves In Next Door

  14. Additional Slides

  15. Service Quality offer delivery/pick-up services offer expedient check out offer classes & workshops learn your customer’s name & use it know your customer’s specific needs record all complaints, find their causes and solve them Merchandising reorient business by providing products not provided by Walmart target specific customers reward loyal customers. provide high quality products focus on a narrow range of products offer longer opening hours form a coalition of local businesses to compete against Walmart Location, Pricing & Promotions location should fulfill the following criteria. If not, consider relocating: actual customer traffic nearness to competitors construction growth patterns real estate costs insurance costs zoning restrictions tax breaks decrease prices on price sensitive products carried by competitors and increase prices on those not carried by them Competitive Strategy understand your industry and current trends and update plans accordingly improve inventory management by analyzing trends in historical data with an automated accounting system source: Rosenbaum

  16. place: Mississippi time: 5 years source: Stone

  17. place: Mississippi time: 5 years source: Stone

  18. place: Mississippi time: 5 years source: Stone

  19. place: Mississippi time: 5 years source: Stone

  20. place: Iowa time: 3 years source: Stone

  21. place: Iowa time: 3 years source: Stone

  22. place: Iowa time: 3 years source: Stone

  23. place: all US time: 25 years source: Jarmin

  24. place: all US time: 25 years source: Jarmin

  25. place: all US time: 24 years source: Jarmin

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