123 Department Stores, Inc. recently bought the 456 Company and will soon begin the process of closing some stores and renaming others.
- Make five recommendations to 123 for keeping old customers
- Make five recommendations to 123 for gaining new customers
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Make five recommendations to 123 for keeping old customers
– make sure to have loyalty cards that are valid at both the old and the renamed stores.
– when you decide to close store X, have a 2-4 week closing sale during which you give out discount coupons valid at another of your locations.
– emphasize in your PR that the remaining stores will still be open and carrying the same merchandise
– move your top employees from the closed stores to other stores so they carry their customer base with them
– make sure something in the new name lets customers identify it with the old brand
Make five recommendations to 123 for gaining new customers
– grand opening for renamed stores
– heavy well-publicized discounts for discontinued merchandise
– strong social media campaign for new store name
– coupons valid at renamed stores
– sponsor a community event under the new name
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