Some online retailers will adjust their margins so low that the only money to be made is from the phone contract, not the actual hardware. For Radio Shack to compete using its current model of neighborhood expertise it must push that idea- expertise. In order to ensure this to the degree necessary in the competitive market, it must incentivize its retail sales force so that they not only work to sell the appropriate product, but are retained at RS in order to build a paradigm of expertise.
Ethical Business- However, in line with appealing to a broader market, Radio Shack initiated a series of initiatives designed to push the consumer back into its stores: the Customer Service signage and program; revamping fixtures and upgrading stores; increased marketing to consumer segments, and reconnecting with the do-it-yourself customer, which has been the core basis of the company's success for almost a century. Radio Shack has the opportunity to buttress this strategy even more by focusing on what it does well -- well-trained and knowledgeable staff, solid products and pricing (forget being the newest or coolest); and more than anything, using sponsorships and event marketing to reconnect with the type of customer needed to ensure the organization's growth (Martin, 2012). This is an ethical and moral imperative for Radio Shack in the sense that it needs clear servant and charismatic leadership from the top to both solidify and organize the future of the organization.
REFERENCES
Annual Report 2011- Radio Shack. (2012). Retrieved from: http://ir.radioshackcorporation.com/phoenix.zhtml?c=84525&p=irol-irhome
Radio Shack Reports Financial Results for Third Quarter 2012. (2012). Radio Shack News Release. Retrieved from: http://ir.radioshackcorporation.com / phoenix.zhtml?c=84525&p=irol-newsArticle&ID=1748509&highlight=
Radio Shack Mission. (2011). About.Com Retail Industry. Retrieved from: http://retailindustry.about.com/od/retailbestpractices/ig/Company-Mission-Statements/Radio-Shack-Mission-Statement.htm
Blankenhorn, D. (June 22, 2012). How Radio Shack Could Come Back. Seeking Alpha. Retrieved from: http://seekingalpha.com/article/678141-how-radioshack-could-come-back
Chernev, a. (2012). Strategic Marketing Management, 7th ed. New York: Cerebellum Press.
Enright, a. (November 8, 2012). Staples Lets Amazon Use Stores as Package Pickup Points. The Internet Retailer. Retrieved from: http://www.internetretailer.com/2012/11/08/staples-lets-amazon-use-stores-package-pick-points
Martin, V. (February 22, 2012). RadioShack Still Has Hope, but Needs a Strategy Change. Seeking Alpha. Retrieved from: http://seekingalpha.com/article/384241-radioshack-still-has-hope-but-needs-a-strategy-change
Peterson, K. (April 24, 2012). Why Does Radio Shack Still Exist? MSN Money. Retrieved from:
http://money.msn.com/stock-broker-guided/latest.aspx?post=7b27e36b-9688-403d-a8f4-159805f06b93
Citation
An unforeseen benefit of this online strategy Dell used to increase brand awareness and remove some of the tarnish from their brand image was Word-of-Mouth (WOM) of the brand began to grow significantly as a result (Jarvis, 2008). Dell had not experienced WOM success of its brand awareness strategies in nearly a decade prior, and what the marketing managers attributed this to was the commitment to listen and respond
This action is expected to produce more reliable information. Sprint Nextel keeps in close and strong connection with its customers, through advertising campaigns that are designed to being the newest and the most complete information to its customers, and through call center that are designed to assist customers, on the other hand. Regarding convenience, the company has implemented a series of actions designed in order to facilitate purchasing for customers.
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