Company Overview Of The Dollar Tree Company

Dollar Tree should continue to distinguish itself by the continuous buyout of firms that give them a competitive advantage and investing in technology. One of the main strategies that have led to the growth of the business is that Dollar Tree has been able to acquire other stores giving it a competitive edge. Acquiring stores instead of setting up one is one of the risk-free methods of market entry. Buying an existing business is profitable as it the new firm absorbs customers from the previous company. This should allow them the company to not spend a lot on their advertising budget. Its recent acquisition of Family Dollar enabled the company to access the urban and rural markets (Garcia, 2016). Dollar Tree usually operate in suburban areas

For example, Dollar Tree provides most of its products at an average price of $1 which is considerably low and competitive against other organizations such as Target and Walmart. Second, Dollar Tree should continue providing customer payment methods that are compatible to most if not all consumers. All Dollar Tree stores accept payments through checks, cash, credit cards and debit cards. Additionally, Dollar Tree stores accept EBT (Electronic Benefits Transfer) as well as food stamps especially in the stress that have freezers and coolers installed. The organization should continue offering payment methods which are easy to use by all customers. Third, Dollar Tree should ensure that the location of their stores is convenient and accessible to all consumers. Dollar Tree operates in at least 4800 stores in 48 states; this means that each state has access to a Dollar Tree store. Dollar Tree focuses on opening new stores, especially in shopping

Dollar Tree should initiate programs that ensure that it retains its loyal customers; such programs are called customer loyalty programs. Additionally, Dollar Tree should undertake activities that seem to increase its customer base. Dollar Tree should undertake regular promotion and advertisement activities so as to increase its customer base thus increasing its sales volume. Dollar Tree should change its competitive strategy concerning the duration the strategy is expected to achieve its goals. Instead of focusing on short-term competitive strategies that are risky, Dollar Tree should focus on short-term competitive strategies which are less