Tractor Supply Company
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Tractor Supply Company
- 1. Kelsey Buehler, Pierce Ford, Amanda Allen & Chandler Robertson Retail Marketing - Spring 2017 - T/Th 12:30
- 2. TRACTOR SUPPLY CO. - COLUMBIA
- 3. BACKGROU ND
- 4. BACKGROUND Mission Statement: To work hard, have fun and make money by providing legendary service and great products at everyday low price Headquarters: Brentwood, TN Opened In: 1938 Growth Strategy: Market Penetration ▸ Opened approximately 115 stores in 2016 ▸ 2500 Plan
- 5. Retail Mix Retail Mix: ▸ Currently offer 13 exclusive brands ▸ Exclusive brands represented approximately 31% of TSC total sales in fiscal 2015, 2014, and 2013.
- 6. Target Market ▸ Recreational farmers ▸ Home, land, pet and livestock owners ▸ DIYers Characteristics: ▸ Loyal and growing ▸ Conservative and self-reliant lifestyle ▸ Consistent ▸ Above average income and below average cost of living Target Market
- 7. Climate Change: ▸ Seasonal Offerings Competitors: ▸ Lowe’s ▸ Home Depot ▸ Orschelns ▸ Sherwin Williams ▸ Lumber Liquidators Low Brand Recognition KEY ISSUES
- 8. KEY ISSUES- CONT.Underdeveloped Omni-Channel Presence: ▸ E-commerce, M-commerce, Social Media Market Expansion Opportunities: ▸ Women ▸ Urbanites and Suburbanites ▸ Strengthen in-store experience
- 9. ALTERNATIVES 1. Stay The Course 2. Focus On Online Platforms 3. Enhance In-Store Experience 4. Target Urban Environmentalists
- 10. ALTERNATIVE 1: STAY THE COURSE ▸ Market penetration ▸ Targeting customers who work in occupations other than farming ▸ Promotion: ▹ Newspaper circulars ▹ Customer targeted direct mail ▹ Digital offerings ▹ Email offerings
- 12. ALTERNATIVE 1: STAY THE COURSE CONT. ▸ Striving to be an environmentally sustainable business ▹ LEED Certified ▸ Multichannel retailer ▸ Efficient supply chain ▸ Investing in inventory planning and allocation systems ▸ Emphasis on employees
- 13. ALTERNATIVE 2 - FOCUS ON ONLINE PLATFORMS Current: ▸ Digital offerings ▸ Overwhelming website ▸ Small social media following ▸ Little brand recognition ▸ YouTube ▸ Order online, pickup in store Suggested: ▸ Simplify website ▸ Closely monitor social media interactions and customer reviews ▸ Encourage customer reviews ▸ Prospect marketing
- 14. ALTERNATIVE 3: ENHANCE IN-STORE EXPERIENCE Current: ▸ Customers only stay 15 minutes Suggested: Create interactive and more pleasant shopping ▸ DIY classes ▸ Channel “Bass Pro” style seminars ▸ Organize exterior more interactively ▸ Add carpet, and more color interiorly
- 16. STORE AMBIENCE
- 18. ALTERNATIVE 4: TARGET URBAN ENVIRONMENTALISTS Current: ▸ Stewardship Program ▸ LEED certified distribution center Suggested: ▸ Smaller stores with urban garden products in urban areas ▸ Encourage more DIY customers
- 19. SUSTAINABLE LIFESTYLE ▸ Offer DIY demonstrations of upcycling and urban gardens ▸ Chicken Coop How-To
- 20. RECOMMENDATION Stay the course ▸ Have competitive advantage ▸ Making critical investments ▸ Growing tremendously ▸ Guard against inertia STOCK INFORMATION
Editor's Notes
- Kelsey How many of you know what Tractor Supply Company is? How many of you ever been inside TSC?
- Kelsey
- Kelsey George Strait
- Chandler
- Chandler
- Chandler U5: As in established suburban communities, housing is dominated by single-family dwellings but includes rental apartments to accommodate younger households with growing incomes. Owners will tackle do-it-yourself home improvement projects such as simple lighting and bathroom upgrades as well as painting and staining. They also enjoy caring for their lawns and gardens.
- Amanda Climate Change: troublesome because TSC operates seasonally
- Pierce
- Pierce
- Pierce
- Pierce
- Kelsey
- Chandler
- Extend petting zoo days Offer snacks IN store services ( Handyman;vet) Seminars, advertise these DIY demonstrations
- Paint Exterior make more appealing and noticeable from the road. Display outdoor merchandise more interactively. Revitalize the interior with carpeted aisles More organized drive aisles, seemed like overstock was piled in center. Paint colors inside feels like a warehouse inside,create more home like atmosphere.
- Amanda -Urban environmentalist TM -Installation of energy management systems, high efficiency lighting and heating/air conditioning systems in our stores, and recycling programs in our stores, distribution facilities and the Store Support Center. Our Store Support Center, opened in 2014, and our new distribution center in Casa Grande, Arizona, opened in 2015, were each awarded LEED (Leadership in Energy and Environmental Design) Silver certification for environmentally sustainable design, construction and operation. We also installed solar arrays at the Store Support Center in Brentwood, Tennessee and our store in Hendersonville, Tennessee. For example, columbia’s TSC is located in the Tapestry Segment- Great Expectations that focuses on -segment has a higher proportion of residents who are in their 20s and a higher proportion of householders younger than 35 years -Owners will tackle do-it-yourself home improvement projects such as simple lighting and bathroom upgrades as well as painting and staining. They also enjoy caring for their lawns and gardens.
- Pierce