Williams-Sonoma: Strategies and Future Prospects

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Table of Contents

Future Performance for Williams-Sonoma
New Strategies as the CEO
Strategies Used by Competitors
Current and Future of the Internet as a Distribution Channel
References

Future Performance for Williams-Sonoma

Williams-Sonoma is a prosperous retailing company. The company started in with Charles Williams as the CEO in 1956. Currently it is a leader in the household retailing business.

Williams-Sonoma has acquired new retail concepts to improve its business in the last four decades. Now it is marketing various goods and products such as cutleries, furniture and pottery products.

The retailing company relies on its effective strategies to achieve its goals and objectives. For instance, Williams-Sonoma responds to consumer needs, develops innovative products and offers support for proper marketing.

The company has expanded its business thereby selling its products to more customers. If Williams-Sonoma continues with this strategy, it will open more stores, acquire new business concepts thereby becoming successful (Rouse, 2010).

The company will deliver its products to more customers in the country and abroad. With a few retail outlets in Canada, the present objectives and strategies will ensure the company becomes a leading business player. It will also offer stiff competition to its competitors in the business.

In five years, Williams-Sonoma will be a leading partner in the business. It will have new customer outlets and offer a new line of products to the customers. With the company acquiring new concepts, it will definitely because a leading competitor in the market.

New Strategies as the CEO

The CEO of Williams-Sonoma is doing the right job at the company. However, given the job, I will continue with the positive work at the company but also offer new ideas and recommendations. To begin with, I will consider the specific concepts that will make the company profitable.

Having identified these concepts, the next thing is to improve the marketing approaches that can promote the companys business. I will also open new concepts to compete with other companies in the specialty retailing business.

One important thing is that Williams-Sonoma does not take marketing seriously. As the new CEO, I will conduct more research to develop the best concepts to promote the business (Wheelen & Hunger, 2010). The issue of pricing determines the success of a business.

For this company, I will provide the best prices to make the company competitive in the industry. The trick to a successful business is maintaining a positive brand. It will be easy to recognize the companys brand thereby making the marketing strategy successful.

The other thing is that I will concentrate much on electronic marketing. Many competitors are using the approach to market their products. These new strategies will make Williams-Sonoma a successful company. It will also offer stiff competitors to the other companies in the industry.

Strategies Used by Competitors

Williams-Sonoma is facing enormous competition in its business. The competing companies have their unique strategies to make their businesses successful. Crate and Barrel is a major competitor in the business. The company operates lesser stores while marketing its products via the website and catalogs.

Restoration Hardware has specialized on glasses and decorative structures thereby becoming a major competitor. Part 1 Imports markets its products to many customers in various countries such as Mexico, the United Kingdom and Puerto Rico.

The Bombay Company has not borrowed modern technologies to market its products. It has emphasized on classic methods of marketing traditional decors and accessories to the customers. This is the competitive strength of the company.

Door Store uses customer-friendly prices to compete against Williams-Sonoma. Rolling Pin Kitchen Emporium adopts a similar approach of marketing its products via its website and catalogs. From this discussion, I believe that the most effective marketing strategy is the one adopted by Door Store and Crate and Barrel.

These companies use pricing strategies and technological approaches to compete in the retail specialty business (Wheelen & Hunger, 2010).

For a business to succeed in this retailing business, it would need to adopt similar approaches to market its products and make huge profits.

Current and Future of the Internet as a Distribution Channel

Williams-Sonoma uses its website to market some of its products. The distribution channel is effective. This is because it has increased the companys sales and profitability. The internet promotes e-commerce because it helps reduce costs incurred when operating physical stores.

The marketing strategy is fast with minimal expenses. At Williams-Sonoma, the distribution channel is one of the strategies used to market and deliver the products to the final users. However, the company is not relying on internet resources as required.

This is an effective approach required to increase profitability. The internet will continue providing new opportunities for companies to market their products (Wheelen & Hunger, 2010). The other thing is that more people are using the internet than ever before.

Any company can utilize the opportunity to achieve the greatest gains and profitability. I would recommend that Williams-Sonoma Company use the internet as its major marketing and distribution channel.

As more people begin to use the internet, it becomes an opportunity for doing business and promoting profitability. This will promote the companys competitive advantage and make it successful in the retailing business.

References

Rouse, M. (2010). Williams-Sonoma Case Study. Opportunities for indigenous Investors, 1(2), 26-34.

Wheelen, T. & Hunger, D. (2010). Concepts in strategic management and business policy. New Jersey: Pearson Prentice Hall.

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