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For this paper I will be looking at an old established company that has re-addressed its target market To increase penetration in the market and expand in new markets Sears has refocused its market concept In the past Sears was where your grandparents shopped for quality product As they sat back and enjoyed the comfort of their brand name and reaped the benefits other companies sliced away at the market with new concepts in advertising until about five years ago when Sears woke up to a lagging profit margin Sears began a recovery to regain market shares lost through complacency To do this they gathered their staff and commenced to focus on new innovative techniques to cater to the needs of their consumers First they looked at the production which was well established but could be streamlined Some items could be eliminated or replaced by other brand name products to give the consumer a broader choice of items For example they sold the Advantis computer branch to IBM when the projected competition would limit revenues in this area They also negotiated lucrative contracts with brand name companies for the exclusive retailing rights for their product an example of this is the Nordic Track home fitness equipment in January of this year They targeted school age children with the new styles which they refer to as the Relaxed Uniformity which increased sales in July of 1998 This helped bring in the younger and health conscious consumers who did not feel that the Sears brand name was right for them This stream lining effort would include shutting down some of the lagging catalog sales offices This allowed them to establish more competitive prices in the market and better returns for their shareholders This led to an increase in domestic revenues by 42 percent in 1998The next areas they looked at were the location of their stores and the placement of the products in their stores Some of
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