1. What is Tractor Supply Company’s growth strategy? What retail mix does TSC provide?
They call themselves the growing company. They want to increase traffic and sales through constant improvements, so they invest in every aspect and they are focused on everything, not just how to sell and make a profit. They want their customers to be happy and come back again. TSC have their own goals and strive towards it constantly, and therefore they are in a growth phase. Their growth strategy is to give their best in all aspects, from customers to employees, goods, products, stores and everything they possess.
They care a lot about their customers, they want them to be satisfied and to success in their business. In my opinion, TSC uses many retail mixes; from an assortment of goods, services, design shops, visual things, location and price. As I have already said, it all has its role in the sale. They possess the essential items for the farm, but also for farmers.
They have good service because they have trained employees, who are farmers and love their jobs. Stores are arranged by the regulations that customers can manage and enjoy shopping. Also locations of the stores are available for customers. In front of stores there is plenty space, which serve for visual marketing and sales. They have a price range in which each customer can find what they want.
Why and how has TSC’s target customer changed over time?
At the very beginning the company has experienced success and their sale was very good. Diffusion of their stores brought them the big profit and a good start. However, when they opened additional stores to serve the needs of local farmers, things have changed. Local farmers who were serving in the TSC were being acquired by large farming and ranching corporations. These large firms buy agricultural supplies and equipment directly from manufacturers rather than through local farm supply stores like TSC. Because of that TSC had to change their target customers. They are focused on other types of customers; the people who have left the city and urban style of life and are dealt with farms and ranches because they love it. Also they focused their sale on farms which survive from their own income.
How does TSC’s retail mix provide the benefits sought by its target market?
TSC company have their own target group and their goals are focused on that particular group and they give their maximum to please their customers. They used their retail mix for different purposes and have the benefits of them. Their retail mix is useful for the TSC, as well as for their customers, because each customer can find in stores what suits them; products and services, and reasonable prices. Their target are the people who are into farming and ranching. Their goal is to attract customers and keep them as long as they can, they want to satisfy them, so they can return again and again. Through the process of the whole selling they fail to achieve that. Both sides have a lot of benefits from TSC’s retail mix.
How vulnerable is TSC to competition? Why is this the case?
The competition is vulnerable to TSC for the few reasons. They use the weaknesses they have, but in my opinion they do not have a lot of them. The reason could be that competition does not have target group of customers, they target everybody, which TSC does not do. Their strength might be in a fact that they are bigger than TSC and have some products that TSC does not have. But maybe that is not a problem for TSC, because they target other kind of farmers. They are also vulnerable because the stores are not located close to big and strong farmers who need some products every day. Some people do not buy at TSC because of their mission, which is “To work hard, have fun and make money by providing legendary service and great products at everyday low prices”, which can be understood as an insult. But in my final opinion, it is not a big case, because they know what they want and how they want to work.
Why does TSC place so much emphasis on training employees?
Every big company wants to keep their customers as long as they can and attract the new ones. It is possible only if a company satisfies their needs and wants. Customers are different and have different needs, so company must have quality goods and ideas, but also skilled employees. Because of that TSC tries to hire store employees who have farming and ranching backgrounds. To make sure that their employees are good, TSC has training programs which thoroughly cover all steps of quality and good training. Skilled employees are very important because they are there for customers all the time. They help them to make a right decision in shopping and give them answers for anything they do not understand. Another reason why TSC places so much emphasis on training employees is because they want that their employees feel comfortable on their jobs and to progress through their work.
Cite this TSC Company
TSC Company. (2016, Nov 18). Retrieved from https://graduateway.com/tsc-company/