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To address these, a brief background on Sears Holding Corporation would be introduced prior to expounding on the executive summary, as required.
The history of Sears Holding Corporation is traced in 1886 when its incorporator, Robert Sears, started selling watches for the purpose of augmenting his source of income as a station agent (Sears: Chronology, 2010, par. 1). With hard work, perseverance and innovative marketing approach, the legendary growth and ability to meet challenges in its business environment led to its continued successful existence after more than a century of serving the customers’ needs. Today, with its merger with Kmart Holdings Corporation in 2005, it is considered the “fourth largest retailer in the United States, behind Wal-Mart, The Home Depot, and Kroger (Stores.org, 2006). With the combined efforts of Kmart and Sears, the organization’s executive summary of the marketing plan for the year appears below:
Sears Holding Corporation (SHC) has attained a successful profitability performance boasting of “$1.8 billion of Adjusted EBITDA, an improvement of more than $200 million over 2008” (Sears Holding Corp.: Chairman’s Letter, 2010, par. 1). With the financial success despite the global financial crisis, SHC’s five pillars of marketing strategy assisted in directing all efforts towards growth and improvement, to wit: “(1) Creating lasting relationships with customers by empowering them to manage their lives; (2) Attaining best in class productivity and efficiency; (3) Building our brands; (4) Reinventing the company continuously through technology and innovation; and (5) Reinforcing “The SHC Way” by living our values every day” (Sears Holding Corp.: Chairman’s Letter, 2010, pars. 7 – 11).
For the coming year, the objectives of the company are summarized herewith: “(1) focus on new and innovative products for the Kenmore laundry business; (2) enforce leadership through heavy marketing efforts and
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This is because it is at the introduction stage that more information and education needs to be given out as part of promotion of the product or service (Saunders, 2005). It is based on this understanding that the current marketing plan is considered
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