|Type of paper:||Research proposal|
|Categories:||Communication Psychology Government Writers|
The Bed bath and beyond are retail stores that are found in the United States. They offer shop services for selling bath towels, beddings, kitchenware, and many more products. In addition to the existence of these stores, it also faces some competition from other marketers like Amazon that offer likely products like theirs. The firm has key boosting factors that contribute to the achieving of more advantage in the market level. (Klein, et al. 2015) Therefore, this paper will entail the analysis is done under the two factors that are a competitive advantage and the strategic positioning of the Bed Bath and Beyond stores. Further, the analysis evolves on the internal and external analysis of its environment in addition to the five forces.
The firm stores are well positioned in the market level because its products are based on the strategic positioning strategies theories. Firstly the firm offers the products that are positioned based on the needs. The products that they offer are with the aim of covering all the needs of a given customer segment. Their products are of good quality and quantity in addition to the concentration of the specified products that address their customers. Secondly is the positioning based on the value of products. The stores offer products and services that are of quality. Their choice of products is good because the products address all the housing needs of their customers.
Bed Bath and beyond also has a more competitive advantage despite the threat from Amazon that is its competitor. To begin with, there are factors that contribute to the competitive advantage. The business is in possession of the online websites that offer the selling of their products. The online service contributes to the advantage over the rivals that offer the same products. Secondly is the Bed bath effort to move beyond the coupon. This contributes to its competitive advantage because the retailers go up to the extent of offering free shipping. The above factors indicate that these retailers have a competitive advantage over their rivals because of many customers.
Bed bath and beyond retailers also consider the two environments; internal and external. Firstly the internal environment consists of the factors that they can be able to control while the external consists of the factors that are not in control of the Bed bath and beyond management. The external factors of the retailers compose of the political factors, economic factors that are basically the types of an economic system that the firm operates, social factors and technological factors. The retailer management takes consideration of the factors because of the steps of online marketing, continued paying of taxes and production of products in concentration to the segments of their customers basing on demographics (Anthony et al. 2018). The company also considers the internal factors composing of how they manage their chain stores in addition to the dynamic capabilities. The retailers give good pay to their employees because of the good relationship that exists between them. The pricing of their products is average because of the aim of profit maximization. Secondly, the firm also offers its products to the suppliers on time and also provides its customers with quality and quantity products.
The analysis basing on the five forces is also considered in the various retail stores. The first being the threats and new entrants, the Bed Bath, and Beyond tackle it by innovating of new products that do not exist. Secondly is the bargaining power of the suppliers that the firm has achieved by ensuring an increased number of supply chain and the number of suppliers increased. Thirdly is the bargaining power of buyers that also the firm has attained through its rapid innovations of new products and the building of a big customer base. Fourthly is that Bed Bath and beyond deal with the threats of substitute products and substitute through its effort in increasing services and creation of an understanding of their customer needs. Finally the firm deals with the rivalry among their competitors through coming up with more complex differentiated services. The retailers also give a more impact in collaboration with their competitors so as to avoid much threat.
In conclusion from the above analysis, it's clear that the Bed Bath and Beyond has a more competitive advantage than its competitors because it works hard so as to be beyond the rivals. It also strategically positioned because its customers are able to get access to the products and the services. The retail firm also is surrounded by the external and internal environment factors that it has to meet. The factors when met contribute to the better placing of the stores in the marketing sector. Bed Bath also considers the five forces so as to drive its marketing to a more dignified dimension.
Anthony, S. D., Viguerie, S. P., Schwartz, E. I., & Van Landeghem, J. (2018). 2018 Corporate Longevity Forecast: Creative Destruction is Accelerating. Innosight. https://www. insight. com/insight/creative-destruction.
Klein, R. B., Etter, M. A., Wood, B. D., & Song, Z. (2015). U.S. Patent Application No. 29/495,471.
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