Competitive Strategy Assignment Example | Topics and Well Written Essays - 4250 words

Competitive Strategy - Assignment Example Most Waitrose stores are located in the upmarket areas of London, enjoying relatively prime areas compared to its competitors; a 1995 survey by Which? Magazine rated Waitrose as the most expensive supermarket chain based on its prime location. The price differences were influenced by its locations, with most of the chains being located at the Home Counties, Southern England, London and South-East England, which are among areas largely populated by middle to high-class customers (Williamson et al 2008, p.190). The business operates with the mission of making all its employees happy and a vision of dealing honestly with a customer to secure their trust in provision of high value services and a wide choice of products. John Lewis partnership largely deals in a wide range of products in addition to food products. The partnership has a good market command in dealing with a variety of merchandise that include household products, electrical gadgets , furnishing products, home based applianc es and devices, a wide range of fruits, beef and chicken products among other daily products, fashion ornaments and raiment, mushrooms among other numerous products (Bloomberg Business Week, 2011). Essentially, John Lewis partnership has something for everyone and strategizes to suit the needs of every customer, a strategy that has worked wonderfully in attracting and retaining its customers and as a critical strategy to the partnership. In addition to the above merchandise, John Lewis Partnership offers a relatively wide range of auxiliary services in insurance packages that range from pet insurance, wedding based insurance packages, travel insurance and life insurance covers to its employees (Rendall & Seth 2011, p.91). According to Finch, John Lewis partnership to achieve this end has elaborate plans to open more stores within and outside the UK market. This would be achieved by taking products as close to the customer as possible, and employing creative approaches that would hav e the partnership identify specific consumer needs and target them as precisely as possible. For instance, one of the strategies undertaken by John Lewis was to have consumers buy term insurance products directly over the internet and phone, with Greenbee, a direct services company being unveiled to undertake this innovation. This is aimed at ensuring customers have the same level of trust and confidence in their level of services as they have in consumer goods and foodstuffs (Money Marketing 2006, p.3). Waitrose, one of the major businesses under John Lewis was not affected by the recent recessions that greatly affected most businesses, but realised more than 11% growth at the same period (Finch, 2011). The impressive record as Finch observed beats John Lewis up market rivals such as Marks and Spencer, with high expectations of growth being projected in the future as the partnership lays its expansion plans to other markets. According to John Lewis Plc (2012, pp.4-5) the Partnershi p’s financial statement shows that its profitability reduced significantly in 2012 compared to 2011. In 2012, the company had an impressive performance with the partnership’s turnover increasing by 6.45% to ?8.73 billion, though the group’s operating profits fell by 8.9% to ?391.0 million. This led to a