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Home/Marketing/Based on what you have read and what you know about Williams-Sonoma (WS): Identify what kind of growth, diversification strategies WS has been pursuing. Be specific and provide examples to support your analysis. Recommend whether WS should continue to use this approach or use a different approach to growth. Justify your recommendation.

Based on what you have read and what you know about Williams-Sonoma (WS): Identify what kind of growth, diversification strategies WS has been pursuing. Be specific and provide examples to support your analysis. Recommend whether WS should continue to use this approach or use a different approach to growth. Justify your recommendation.

Williams-Sonoma successfully applies the strategy of Michael Porter in the company’s growth strategy. This approach focuses on cost leadership, differentiation, and focus. Thus, the company is given the advantage of using a competitive advantage by reducing costs or differentiating its offers from competitors by the most valuable parameters in order to justify the premium price. The company also productively uses Market Penetration. It implies stimulating sales growth within the existing customer base.

Thus, the organization functions to increase market share by focusing on the existing product. Moreover, this strategy played a special role in the initial stage of the formation of the Williams-Sonoma company. This strategy helped to increase brand awareness, thanks to high market penetration. I believe that this strategy is well suited to this organization, as it primarily contributes to maintaining customer loyalty, which is considered an important factor in the growth and competitiveness of the business.

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Academic.Tips. (2022) 'Based on what you have read and what you know about Williams-Sonoma (WS): Identify what kind of growth, diversification strategies WS has been pursuing. Be specific and provide examples to support your analysis. Recommend whether WS should continue to use this approach or use a different approach to growth. Justify your recommendation'. 21 December.

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Academic.Tips. (2022, December 21). Based on what you have read and what you know about Williams-Sonoma (WS): Identify what kind of growth, diversification strategies WS has been pursuing. Be specific and provide examples to support your analysis. Recommend whether WS should continue to use this approach or use a different approach to growth. Justify your recommendation. https://academic.tips/question/based-on-what-you-have-read-and-what-you-know-about-williams-sonoma-ws-identify-what-kind-of-growth-diversification-strategies-ws-has-been-pursuing-be-specific-and-provide-examples-to-support-you/

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Academic.Tips. 2022. "Based on what you have read and what you know about Williams-Sonoma (WS): Identify what kind of growth, diversification strategies WS has been pursuing. Be specific and provide examples to support your analysis. Recommend whether WS should continue to use this approach or use a different approach to growth. Justify your recommendation." December 21, 2022. https://academic.tips/question/based-on-what-you-have-read-and-what-you-know-about-williams-sonoma-ws-identify-what-kind-of-growth-diversification-strategies-ws-has-been-pursuing-be-specific-and-provide-examples-to-support-you/.

1. Academic.Tips. "Based on what you have read and what you know about Williams-Sonoma (WS): Identify what kind of growth, diversification strategies WS has been pursuing. Be specific and provide examples to support your analysis. Recommend whether WS should continue to use this approach or use a different approach to growth. Justify your recommendation." December 21, 2022. https://academic.tips/question/based-on-what-you-have-read-and-what-you-know-about-williams-sonoma-ws-identify-what-kind-of-growth-diversification-strategies-ws-has-been-pursuing-be-specific-and-provide-examples-to-support-you/.


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Academic.Tips. "Based on what you have read and what you know about Williams-Sonoma (WS): Identify what kind of growth, diversification strategies WS has been pursuing. Be specific and provide examples to support your analysis. Recommend whether WS should continue to use this approach or use a different approach to growth. Justify your recommendation." December 21, 2022. https://academic.tips/question/based-on-what-you-have-read-and-what-you-know-about-williams-sonoma-ws-identify-what-kind-of-growth-diversification-strategies-ws-has-been-pursuing-be-specific-and-provide-examples-to-support-you/.

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"Based on what you have read and what you know about Williams-Sonoma (WS): Identify what kind of growth, diversification strategies WS has been pursuing. Be specific and provide examples to support your analysis. Recommend whether WS should continue to use this approach or use a different approach to growth. Justify your recommendation." Academic.Tips, 21 Dec. 2022, academic.tips/question/based-on-what-you-have-read-and-what-you-know-about-williams-sonoma-ws-identify-what-kind-of-growth-diversification-strategies-ws-has-been-pursuing-be-specific-and-provide-examples-to-support-you/.

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There are many ways to segment a market. Describe three possible consumer segments for WS (Williams-Sonoma), in detail, and explain why they might be a good fit. Refer to demographics, psychographics, behavior, and geography, as appropriate. Out of the segments you identified, identify which of these consumer segments WS should target. Explain your choice. As part of your answer consider the keys to a good target such as its size, the company’s ability to reach it effectively, growth potential, etc.
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