Reference no: EM131301382
Retailmenot Inc.
Do Internal Financial Analysis;
- Competitive position: Revenue/Costs/Trends(Competitors)
- Market Opportunities/Threats
- Profitability vs. Market: Products/Areas/ Customers/Distribution Channels/Costs
- Global Market
Potential Internal Strengths
- A distinctive competence
- Adequate financial resources
- Good competitive skill
- Well thought of by buyers
- An acknowledged market leader
- Well-conceived functional area strategies
- Access to economies of scale
- Insulated (at least somewhat) from strong competitive pressures
- Cost advantages
- Better advertising campaigns
- Product innovation skills
- Proven management
- Ahead on experience curve
- Better manufacturing capability
- Superior technological skills
- Other?
Potential Internal Weaknesses
- Sub par profitability because- Lack of managerial depth and talent/Missing some key skills or competence/Poor track record in implementing strategy/Plagued with internal operating problems
- No clear
- Obsolete facilities
- Falling behind in R & D
- Too narrow a product line
- Weak market image
- Weaker distribution network
- Below-average marketing skills
- Unable to finance needed changes in strategy
- Higher overall unit costs relative to key competitors
- Other?
Scanning the External Environment
Strategy "idea" With;
- Cost
- Benefit
- Payback period
Reward Companies;
For example;‘ you might find something better'
NextBee goo.gl/nE1hWK
Loyaltyworks https://www.loyaltyworks.com/incentive-rewards-programs/customer-loyalty-retention-distributor-incentives/
"like CVS, Extracare program but in a different strategy, Starbucks"
- Make products for Retailmenot" for example get some women/men ring, pin, notebook, calendar, electronics accessories, etc.from Alibaba.com" to sale in their website for members, there are no membership right now, and you can buy, and look at coupon without having a membership or account. So I would make the Reward program for Members only, in that case, we would encourage consumer to register, then we could collect information and data "Track consumer purchase behavior"
Gift Cards Levels;
1- When spending $1,000 you get Gift card for Retailmenot Products for $25
2- Spending $3,000 at least 2 products you will get a gift card for Retailmenot products by $50
3- Spending $5,000 with at least 3 products you get gift card for $150 for Retailmenot products
4- Spending $10,000 on at least 5 products you get gift card Retailmenot products by $300
Tracking consumer purchase behavior; with a third-party data OR Retailmenot employee" which lower cost and easier".
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