Demand Shifters for Auto Parts Industry
- Online Sales Growth by 12.3% annually
- DIY customers (Target Market) are willing to spend more on a product when the company has CSR initiatives
Strategy Formulation:
- Strengths - 75% of customer base is DIY and Millions of Customers visit the AutoZone website every week
- Opportunities - Projected 12.3% annual growth in online auto parts sales, Companies that participate in CSR Initiatives outperform companies without similar programs
- Threats - Customer Preferences are shifting from retail stores to online
- EFE - Change in consumer preferences in the industry and projected online sales have the greatest weight
Strategy: OnTrack Initiative
"Keeping Cars and Communities OnTrack"
- Utilize the power of CSR to bring value and growth to the communities in which AutoZone operates
- The implementation of OnTrack will contribute to AutoZone's growth in online sales
- Adding value to customers will ultimately add value to Stakeholders which will increase top-line revenue
Implementation Process:
- Hiring qualified personnel to facilitate the success of the OnTrack Initiative
- Marketing Strategy - Engaging the DIY market through online and digital presence
Stakeholder Value:
- Increase Online Sales by 6% through OnTrack Initiative
- Low Cost strategy for Long-Term Growth
Strategy Evaluation:
- Financial - Increase Market Share and Online Growth
- Customers - Develop the customer relationship and increase Customer Satisfaction through the OnTrack Initiative
- Internal Processes - Cost-Efficient, while increasing customer value
- Knowledge and Growth - Implement CSR initiatives and increase employee satisfaction
Galatians 6:9 - And let us not grow weary of doing good, for in due season we will reap, if we do not give up (ESV)
- AutoZone exists to bring value to their customers. The OnTrack Initiative accelerates that vision by standing alongside their customers and advancing the well-being of the communities in which they operate.
Bottom Line:
- Satisfy Customers
- Increase value for internal and external stakeholders
- Increase Top Line
Credits:
Created with images by tookapic - "retro car orange" • stokpic - "car oldtimer beetle"