- What is TJX’s mission statement? More U. S. and international customers
- What is TJX’s vision for itself in the future? They envision a marriage between stores and the web and plan to use $23 billion brick-and-mortar business and 700–person buying organization to increase the customer base and add incrementally to their top and bottom lines over time.
- What are the values that TJX strives to incorporate as it conducts its business operations? Are these consistent with their stated mission and vision? To stretch the boundaries of the off-price business model and take intelligent risks to offer consumers even greater value. Target Customer
- Who is TJX’s target customer? Are you TJX’s target customer? A middle- to upper-middle-income shopper. No, I am not. Value Proposition
- What are the four components of value that TJX offers its customers? Is this value proposition likely to appeal to the TJX target customer? Great fashion, brand, quality and price. Yes, they are.
- Business Model 6. What does TJX sell? It sells off-price apparel and home fashions.
- What are TJX’s key retail concepts? How do these retail concepts enable TJX to provide the four components of value they offer TJX’s customers? Synergistic,
- What is TJX’s business model? TJX’s business model is flexible, particularly for a company of size, allowing reacting to market trends.
- How does TJX achieve flexibility in its business model? Their opportunistic buying and inventory management strategies. Competition
- Who does TJX consider to be its competition? The local, regional, national and international department, specialty, off-price, discount, warehouse and outlet stores as well as other retailers that sell apparel, home fashions and other merchandise that we sell, whether in stores, through catalogues or other media or over the internet.
- Identify 5 risks that TJX faces that are beyond its control. Execution, Inventory flow, natural disasters, political instability and increasing cost.
- What are some of the strategies that TJX plans to utilize to achieve these goals? For each strategy you identify, match it to at least one of TJX’s goals. By set the right goods in right stores, distribute goods to store effectively, maintaining an appropriate mix and level of inventory in stores, appropriately changing the allocation of floor space of stores among product categories to respond to customer demand and effectively managing pricing and markdowns.
- How is TJX organized? How many business segments and stores overall? Where are they? How many new stores do they plan to open in the next fiscal year?
