1. Evaluate Family Dollar’s retail strategy. Will it work in both good and bad economic times?
Family Dollar’s retail strategy will work in both good and bad economic times. The company’s mission: is to provide our customers with a compelling place to shop, our team members with a compelling place to work, and our investors with a compelling place to invest. Our vision is to be the best, small format convenience and value retailer serving the needs of families in our neighborhoods. (Family Dollar 2012 Annual Report) During the economic downturn, Family Dollar reevaluated the company’s goals. One of the goals the company will be refocusing on will be to build customer …show more content…
4. How can a full line discount store do better in competing against a variety store like Family Dollar?
In order for full line discount stores to compete with Family Dollar, they would have to down size and open a neighborhood store. They would also need to significantly reduce the price of their products and also package them in smaller sizes. Full line discount stores would have to draw in consumers possibly by carrying a larger variety of brand name products. The layout of the store