ESSAY : Vision Statement

Please respond to the question below
Dr. Shane Howell
Curtis,

Well said. In addition, retailers need to build and maintain consumer loyalty by anticipating consumers’ needs and wants. This is the key to success in today’s consumer products industry. Sixty-nine percent of survey respondents say they are very loyal to certain stores, and 82 percent say they will pay more for a brand name they like (KSA Reports, 1999). However, cultivating loyalty has become more challenging with today’s expanding retail and product options. Consumers cannot be loyal purchasers if they cannot trust that retailers will consistently have the merchandise that meets their needs. To earn consumers’ loyalty, retailers must have the right product in stock at the right time and at a price the consumer is willing to pay. Retailers will have to think and plan from the consumer’s point of view, selecting the right assortments for their customers, and presenting these assortments in a manner that encourages purchasing.

Would you consider this a strategy that a vision statement should include? Why or why not?

Reference

KSA Reports. (May 10, 1999): Consumer loyalty is the key to profitability. PR

Newswire. Retrieved from the World Wide Web February 18, 2021:

SAMPLE SOLUTION

This definitely is a strategy that a vision statement should include because customers are essential stakeholders in retail businesses. Developing a strong connection with clients will have them coming back for more. In that case, retailers need to develop and implement their business model based on the customer’s needs and preferences. It is hard to retain clients compared to getting new ones, and that path demands vigorous marketing and sales, which increases expenses to a business. A happy and satisfied client will always bring new ones, and therefore, having…