You are the Chief Marketing Officer for a U.S. based department store chain handling lower and higher ranged priced product categories with the primary focus on the lower-end. The department store chain has stores on the east coast, northern area, and the south with the locations in metropolitan cities. You have been tasked with shifting the marketing strategy from a focus on the lower-end products to the higher-end ones. Two key competitors will be Macy’s and Nordstrom.
1) Determine the marketing driven strategy that the company will take. Provide a rationale for your strategy.
2) Distinguish the product-market boundaries. Provide a rationale for your strategy.
3) Construct a marketing segmentation strategy. Provide a rationale for your strategy.
4) Develop a customer relationship management strategy. Provide a rationale for your strategy.
5) Generate a strategy for collecting information about potential customers.
