BES Academic English: Win Back Online Shoppers Group 3 Analysis 林晨尹文怡陈书华
Academic English: Win Back Online Shoppers Group 3 Analysis 林晨 尹文怡 陈书华
Agenda 1 Introduction BES 2 Analysis Opinions 3 Solutions Justifications LLHIHH-H
1 2 3 Introduction Analysis & Opinions Solutions & Justifications Agenda
Introduction > Analysis Opinions > Solutions Justifications Benjy's is a $40 billion electronics and appliance brick-and- mortar retailer owning 2000 chain stores. Electronics and appliance brick 2000 chain stores and-mortar retailer 万 y $40 billion market share Ethos: low-cost, high-volume Group 3 Analysis
Benjy’s is a $40 billion electronics and appliance brick-andmortar retailer owning 2000 chain stores. Introduction >> Analysis & Opinions >> Solutions & Justifications 1 2000 chain stores Ethos: low-cost, high-volume Electronics and appliance brickand-mortar retailer $40 billion market share
Introduction > Analysis Opinions > Solutions Justifications More people are coming to Benjy's to look at products but then buying them from its online competitors Phenomenon Cause Result Effect More people coming to benjy's .83% of people show -. Could not afford to match Chains sales nose-dived roomIng online prices Buying them from its online Facing nearly $700 million loss competitors enjy' s competitors offering discount prices Group 3 Analysis
Introduction >> Analysis & Opinions >> Solutions & Justifications More people are coming to Benjy’s to look at products but then buying them from its online competitors. Phenomenon Cause Result Effect • More people coming to Benjy’s • Buying them from its online competitors • Benjy’s competitors offering discount prices • 83% of people showrooming • Could not afford to match online prices • Chain’s sales nose-dived • Facing nearly $700 million loss 2
Introduction > Analysis Opinions > Solutions Justifications Disagreement occurred between the ceo and the chairman about the possible solutions towards this issue. Ben's idea CEOs idea Short-term low-cost measures Long-term costly risky measures To charge their suppliers fees for To make showrooming difficult promotions and access to prime shelf space Offense More helpful and attentive employees d Price war: More aggressive discounts A smaller-store format Price war 2 To get suppliers to impose · A curated product mix minimum advertised prices on their online Knowledgeable salespeople retailers · Follow-up services. Group 3 Analysis
Introduction >> Analysis & Opinions >> Solutions & Justifications Disagreement occurred between the CEO and the chairman about the possible solutions towards this issue. Ben’s idea CEO’s idea Short-term low-cost measures Long-term costly risky measures Defense: • To make showrooming difficult. Offense: • Price war1: More aggressive discounts. • Price war2: To get suppliers to impose minimum advertised prices on their online retailers. • A curated product mix. • Knowledgeable salespeople. • Follow-up services. • More helpful and attentive employees. • A smaller-store format. • To charge their suppliers fees for promotions and access to prime shelf space. 3
Agenda 1 Introduction BES 2 Analysis Opinions 3 Solutions Justifications LLHIHH-H
1 2 3 Introduction Analysis & Opinions Solutions & Justifications Agenda
Introduction > Analysis Opinions > Solutions Justifications SWOT analysis--What is the most urgent problem of Benjys Strengths Weaknesses Electronic market leader in North america Failure to capitalize on online market space Serving a large customer base tomer satisfaction and loyalty Owning a lot of physical stores Declining operating margins and market shares Having competitive advantage in offline service pportunities Threats Rising popularity of e-commerce Availability of substitutes Demand for technical expertise ng Intense online competition What kind of pricing strategy should benjy' s take to prevent further loss e. How to corporate with manufactures well in the new era of technology a. How to attract the customers to buy products offline in benjy s instead of Amazon Group 3 Analysis
SWOT analysis——What is the most urgent problem of Benjy’s. Introduction >> Analysis & Opinions >> Solutions & Justifications • Electronic market leader in North America • Serving a large customer base • Owning a lot of physical stores • Having competitive advantage in offline service • Failure to capitalize on online market space • Lower customer satisfaction and loyalty • Declining operating margins and market shares • Rising popularity of e-commerce • Demand for technical expertise • Availability of substitutes • Showrooming • Intense online competition Strengths Weaknesses Opportunities Threats • What kind of pricing strategy should Benjy’s take to prevent further loss. • How to corporate with manufactures well in the new era of technology. • How to attract the customers to buy products offline in Benjy’s instead of Amazon. Key Problem 4
Introduction > Analysis Opinions > Solutions Justifications Questioning Map--What is the most urgent problem of Bestbuy. Questioning Map Analysis Environmental Impact of . Products Data Privacy of Connected Devices Foundational issues Supplier relations (lean (Emerging issues Product (Differentiating issues arcing connected supply chain Labor and Human Rights Customer Diversity and Inclusion Ethics and Compliance Technology Corporate Governance and Opportunity Gap Innovation Key Problem Employee Talent Attraction and Climate and Retention Supplier Relations Emerging issues Innovation(uniqu (Foundational issues) consumer experience) Higher mpact on the business Group 3 Analysis
Questioning Map——What is the most urgent problem of BestBuy. Introduction >> Analysis & Opinions >> Solutions & Justifications Foundational issues: Supplier relations (lean connected supply chain) Emerging issues: Innovation (unique consumer experience) Questioning Map Key Problem Analysis 5
Introduction > Analysis Opinions > Solutions Justifications Comparative analysis--Industry analysis: from traditional retail to new retail 1 From traditional retail to new retail New retail core competitiveness Channel M Targeting FOR RETAILERS, BRANDS, E-PLATFORMS Oriented Production customers AND CONCEPTS STORES Increased New metrics Higher Minichannel visibility strategy reca stock management, customer flow management, Product Mass Nurturing FOR THE CUSTOMER Oriented Customization/fans Qualit Catering to Social Marketing Local services Personalized A memorable Value for money individualistic (e.g. click and collect) services experience (e.g. available online (practical, informative, fun, etc.) 3New retail 020 comparative analysis 2)④ Lower prices 24/7 No need to go Being able Getting Ensuring that 56% hopping to a store to see, touch products products are 46% 40% and try goods immediately suitable 53% 33% Group 3 Analysis 6
Comparative analysis——Industry analysis: from traditional retail to new retail. Introduction >> Analysis & Opinions >> Solutions & Justifications Product Oriented Channel Oriented Mass Production Targeting customers Mass Customization Nurturing fans Quality Value for money Catering to individualistic Social Marketing Past Now 1 From traditional retail to new retail 2 New retail core competitiveness Online Offline 3 New retail O2O comparative analysis 6
Introduction > Analysis Opinions > Solutions Justifications Opinions for Benjy's--New retail industry o20 innovation model SWoT analysis--Benjy,'s Offline Model How to make it easier for customers to buy products in physical stores. Brick-and Proximity How to attract the customers in store to buy Mortar Commerce products offline on a higher price through providing specific service Questioning map--BestBuy Foundational issues: Supplier relations(lean Manufacture Mobile /Brands Consumer connected supply chain) Commerce Emerging issues: Innovation(better consumer experience) Comparative analysis--Industry Social E-commerce From traditional retail to new retail Commerce New retail core competitiveness New retail 020 comparative analysis Online Model Group 3 Analysis
Online Model Foundational issues: Supplier relations (lean connected supply chain) Opinions for Benjy’s——New retail industry O2O innovation model. Introduction >> Analysis & Opinions >> Solutions & Justifications Comparative analysis——Industry SWOT analysis——Benjy’s Questioning map——BestBuy Brick-andMortar Proximity Commerce Mobile Commerce Manufacture /Brands Consumer Social Commerce E-commerce Offline Model • Foundational issues: Supplier relations (lean connected supply chain) • Emerging issues: Innovation (better consumer experience) • How to make it easier for customers to buy products in physical stores. • How to attract the customers in store to buy products offline on a higher price through providing specific service • From traditional retail to new retail • New retail core competitiveness • New retail O2O comparative analysis 7
