Challenges and Solutions

  The Liquidator Group Inc. faces many challenges in society as a small furniture business. 

Challenges: Firstly, the main challenge is how The Liquidator can compete with big furniture stores and chains. Some of those chains include Raymour and Flanigan, Bob’s Discount Furniture, Ashley Homestore, and more. There’s of course more competition in the form of other small, local furniture stores, too. Even one down the street. But they need to stand out, how do we draw customers to the Liquidator, and not other furniture stores? 

Marketing is also a major challenge for The Liquidator. Marketing is defined as the action or business of promoting and selling products or services, including market research and advertising. The Liquidator needs a solid marketing plan in order to execute, and draw customers to their store, but what marketing tools should they use.

Lastly, staff is a challenge at the Liquidator. They do a ton of manual labor and operations, and those operations could take a lot of time without the proper staff numbers needed to operate a smooth business, which is essential. The Liquidator needs a very strong, But how can they hire good members to the staff to have a successful operation?

Solutions: First, in order to compete with the big furniture stores, and even the other small furniture businesses, the Liquidator needs to stand out. Offer things that maybe other stores don’t have, so customers will come back to fulfill their furniture needs. For example, we recommended a point credit discount system for loyal customers. Every time you come back to the liquidator, you get more discounts and rewards. Just something to get customers happy with our service. Also, customer service is huge. We're sure many people have had personal experiences with big chains’ customer service, and it’s not as ideal as you’d like as a consumer. We feel like the Liquidator should really focus on connecting with their consumers through customer service, and making sure the consumers feel at home, and want to come back.

When it comes to marketing, we highly recommend that they focus on social media advertising. Today’s society is so social media driven that so many people, from all age groups, will find The Liquidator ads on all platforms of social media if we invest into it. Platforms such as Instagram, Twitter, Facebook, etc. We want to reach as many potential customers as possible, and we feel that using Social Media is the most beneficial to reaching that goal.

Lastly, staff is something that needs to be addressed to assure a stable operation at The Liquidator. We feel that, the more staff we have, the smoother the operation will be. To go along with the marketing plan, in terms of being able to hire the right people, we feel as though The Liquidator should uses various job apps such as LinkedIn, Indeed, and ZipRecruiter, to get our brand out there, and let as many people know that The Liquidator could use their help. We feel as though this method could benefit The Liquidator greatly.