Family Dollar should be classified as having a Focused Low Cost Strategy because they have a focused product line contained in 7,000 square feet of retail space. They limited selection, but what they do offer is value driven by price. There store locations and merchandise reach out to its target customers demographics which are areas that have a high concentration of household annual income less that $30,000 which is below the 2008 US Census $52,000 per capita income. Their niche is serving lower income Americans and providing them with quality goods at low prices in a convenient location.
This is well stated in their mission and vision statement:
For Our Customers
A compelling place to shop. . .
by providing convenience and low prices
Our Vision:
To be the best small-format convenience and value retailer serving the needs of families in our neighborhoods
This Blog has been created for my MGT 656 class for MBA at the Murray State University. The goal of this blog is to monitor the public activities of the Family Dollar Corporation in relation to what I am learning and have learned in my studies. I will integrate my professional experiences and perspectives of product sourcing in the wholesale and retail industries to the blog as well.
About Me
- Brent- Family Dollar
- I have a background in sales and product management. I enjoy finding products that make it to the retail shelves and sell. I am wired half creative and analytical. I tend to see both sides of the issue. I know how to approach things rationally and I can switch gears to think “outside the box”. I enjoy traveling. I have had the opportunity to travel to many places in the world: Europe, South America, Asia, and Africa. I try to take on a global perspective when looking at the dynamics that are effecting an industry becasue we are in global economy.
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