Pier 1 Imports Marketing Plan
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The paper discusses how in recent years, Pier 1 began to lose their grip on what was seen as their impenetrable hold on the import gift market. The paper explains the causes behind the decline in the company's profits and explores its revised management and merchandising strategies. The writer of this paper is of the opinion that Pier 1 has made some good adjustments, and some adequate changes in its plan to bring the retail chain back to the forefront of unusual merchandise for the finicky consumer.
From the Paper:"Pier 1 Imports is a publicly owned company that is well known for its distinctive style of products and shopping environments. From its very beginning, Pier 1 strove to meet the demands of a very particular audience by supplying them with unique items from all over the globe. Over the years the company has grown from a single storefront to well over 1,300 stores worldwide. It has tapped into new markets in Canada and Mexico, as well as added new ecommerce and catalogue ordering to its merchandising empire. In recent years Pier 1 has begun to lose their grip on what was seen as their impenetrable hold on the import gift market, and they have begun to rethink not only their marketing campaign, but more importantly, their management and merchandising strategies. The company hopes to implement many new changes that will not only allow them to adapt to the needs of their customers, but also go back to the basics of their company and use the strategies that allowed them to become a dominant force in retailing in the first place."
Sample of Sources Used:
- MacNealy, Jeremy. 19 Sep. 2006. Fools on Call: Rebuilding Pier 1 After the Storm. Motley Fool.com. 27 Nov 2006 < http://www.fool.com/news/commentary/2006/commentary06091916.htm>
- O'Loughlin, Sandra. 10 July 2006. Pier 1 Makes Room For New Furnishings. Brandweek: 4.
- Pier 1: About Us. 2006. Pier 1 Imports, Inc. 27 Nov. 2006 http://www.pier1.com/company/aboutus.aspx
- Pier 1 Imports, Inc. Reports October Sales. 2 Nov. 2006. BusinessWire: Forth Worth, TX. 27 Nov. 2006 <http://www.businesswire.com/news/2112006.asp>
- Pier 1 posts $73.1 M loss. 18 Sep. 2006. Furniture Today. 27 Nov. 2006 <http://www.furnituretoday.com = search>
Cite this Marketing Plan:
Pier 1 Imports Marketing Plan (2010, June 03) Retrieved December 10, 2019, from https://www.academon.com/marketing-plan/pier-1-imports-marketing-plan-120107/
"Pier 1 Imports Marketing Plan" 03 June 2010. Web. 10 December. 2019. <https://www.academon.com/marketing-plan/pier-1-imports-marketing-plan-120107/>