7/10/12 Three Questions to Help Assess Your Strategic Position –


Question Description:

25

Please read the following post with the attached file. Give your own comment for the following post with 100 words and please don’t just summarize it. Urban Outfitters, Inc. (URBN) Urban Outfitters is a retail company that operates under Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN brands. They also operate a wholesale segment under the Free People brand. Their core strategy is to provide a unified environment that establishes emotional bonds with the customer. They also off products and market their brands directly to the consumer through their e-commerce websites. Furthermore, their omni-channel strategy allows customers to experience their brands. Store sales are mostly fulfilled through the store’s inventory, but can also be shipped from any store or a combination of fulfillment center and store depending on availability of the time. Their direct-to-consumer orders are mostly shipped out to customers through their fulfillment centers but can also be shipped from other stores or fulfillment centers also. This allows them to better serve customers and helps them to fill orders that otherwise may have been cancelled due to out-of-stock positions. 1) Would you say your company is becoming more effective at meeting customer needs? Yes, Urban Outfitters is planning to open approximately 15 more stores, globally in the fiscal year, 2014. They also design and develop their merchandise, which helps to keep their product current and unique. They offer an ever-changing mix of products to their customers which allows them to adapt their merchandise to prevailing fashion trends, and with their inviting and every-changing atmosphere and decorated stores, they believe that his encourages their core customers to visit their stores and websites frequently for their needs. They also seek to select price points for their merchandise that is consistent with the spending patterns of their target customers. 2) Has your company recently implemented a significant innovation campaign or launched numerous small-scale innovation pilots? Urban Outfitters uses web marketing, social media, merchandise expansion and website and mobile initiatives as a significant contributor to their direct-to-consumer sales growth. They are planning to continue to increase their investment in those initiatives for all their brands in fiscal year 2014. They are also very active in the social media and blogs because they believe that starting a conversation and interacting directly with their customers, most notably via Facebook, Twitter, Pinterest, and Instagram makes them more effective at understanding and serving their customers’ fashion needs. They also plan to implement the location expansion strategy in fiscal year 2014 that is similar to their fiscal year 2013 plan for their Anthropologie, Urban Outfitters, and Free People stores. 3) Is your company becoming more collaborative with outside firms? Yes, Urban Outfitters have sold their brand, Free People’s clothing worldwide through approximately 1,400 better department and specialty stores which include Macy’s, Nordstrom, Bloomingdale’s, Lord & Taylor, and Free people stores. ATTACHMENT PREVIEW Download attachment Three_Questions_to_Help_Assess_Your_Strategic_Position_-_H._James_Wilson_-_Research_-_Harvard_Business_Review.pdf 7/10/12 Three Questions to Help Assess Your Strategic Position – H. James Wilson – Research – Harvard Busin… HBR Blog Network / Research T hr ee Questions to Help Assess Your Str ategic Position by H. James Wils on | 1:32 PM A ugus t 24, 2010 I’ve s pent s om e of m y profes s ional life in s trategy res earch and cons ulting organizations , where developing diagnos tic fram eworks on com petition is the nam e of the gam e. But as com prehens ive and com plex as they are, thes e m odels are often unhelpful (or im penetrable) to front-line practitioners who m ight us e them to im prove day-to-day decis ions and actions . In contras t, I encounter s om e of the …

Answer

25