Big Lots Turnover

In: Business and Management

Submitted By latinofool12
Words 2235
Pages 9

By: Edwin Majano
PART I Company Overview

Big Lots Inc. is one of the nation’s largest and most successful broad line closeout retailers that exist today. Facing adversity and changing trends, the company has remained stable and has continued to strive with what the economy has had to offer. With the motto “Brand names at closeout prices!” the company has built its foundation by acting on what they stand for. With its well organized business plan, Big Lots continues to make improvements for its customers as well as employers. As the years progress, the company has been able to monitor what demands are wanted and how to supply it in a manner that brings in the most profit. Success can only be measured by researching the techniques in which a company such as Big Lots has successfully implemented, to which most strategies are much more simple than what people think. The company exposes its main goal by simply stating its mission statement. Big Lots mission is “To be the best at saving our customers money by creating excitement with brand name closeouts and bargains though a unique shopping experience." With that being said, Big Lots has positioned itself to be better stabilized in regards to the competitive standpoint by demonstrating to its customers that their main goal is to make shopping the least expensive. As the company strives, more and more strategies are established on a daily basis. In order to grasp how the company maintains a well rounded organization, we need to analyze the basic markets and products that Big Lots has to offer. The company meets the needs of customers by providing an assortment of merchandise, including consumables, seasonal products, furniture, housewares, toys, and gifts. Unlike Wal-Mart or Target, Big Lots participates with a strategy to which brings in most of its products at the cheapest price. About…...

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