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Kmart Corporation: Seeking Customer Acceptance and Preference
HISTORY
Kmart was founded in 1899 in Detroit by Sebstian S. Kresge. At that time, the first store was offering low-price merchandise. The store was small in size (about 4,000 to 6,000 square feet).
The corporate passed several types of changes during its history. These changes include different types of strategies and changes. However, one of the most important changes is the one that took place in 1957 when the company entered the market of discount stores. During this period of time and after this time, the company used many types of strategies but almost most of them were not built on real studies. They were a result of the good position of the company.
The second change that took place was in the 1990 were the company started to focus its strategies in building a real business that is based on the results of the survey made on the market. This period had changed the shape of the company especially with the increase pressure from the competition.
Finally, the third expected change would take place after reviewing the results of applying the strategies of the late 1990s. This is because the discount department stores reached maturity and the results of the success made of the latest strategy could be the reason of the strong economy but not for the strength of the strategy.
OVERVIEW OF GOALS, STRATEGIES AND OBJECTIVES
The corporation has taken used many types of different strategies. The first one which was used in its first days depended on offering low prices items and the concept of “5 cents and 10 cents” or “variety store” were used. These two concepts were profitable for the organization at th ...