Re: history of kmart -- Marketing370-Consumer Behavior

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Date Posted: 14:25:32 03/02/04 Tue
Author: corrie
Subject: Re: history of kmart
In reply to: jennifer 's message, "history of kmart" on 10:04:47 04/11/02 Thu

>History Of The Company
>
> Kmart was founded by Sebastian Kresge. Kresge
>started off in the business running five-and-dime
>stores in Detroit, Michigan. The S.S. Kresge
>Corporation ran Kresge stores, which offered people
>low prices that they could afford. By the 1950's, the
>company realized they had to change in order to stay
>competitive in the retail industry. The S.S. Kresge
>Corporation decided to open discount stores that they
>named Kmart. The Kresge stores were still open. The
>first Kmart store opened in 1962 in Garden City,
>Michigan. The company changed their name to the Kmart
>Corporation in 1977, since most of their business was
>from the Kmart discount stores (Hoover's, 883).
> Today Kmart employs more than 240,000 associates in
>2,161 stores (Hoover's, 883). The stores operate in
>the fifty states, Puerto Rico, U.S. Virgin Isles, and
>Guam. Kmart's mission is to sell to low and
>middle-income families. Specifically, Kmart's mission
>statement is:
>"Kmart will become the discount store of choice for
>middle-income families with children by satisfying
>their routine and seasonal shopping needs as well as
>or better than the competition" (Kmart 1997 Fact Book).
>
>Kmart's target is the middle class family. The stores
>want to provide them with products they need at prices
>they can afford.
> Kmart offers a variety of products. They carry many
>private labels, some of which are celebrity labels.
>For example, Jaclyn Smith and Kathy Ireland both have
>ladies apparel lines. Martha Stewart supplies her
>Martha Stewart Everyday line that consists of home
>fashions. Bedding and bath products are a few types
>of products that she designs for. Kmart also sells
>fishing gear (B.A.S.S.), Benchtop tools, Penske Auto
>products, and White-Westinghouse small appliances.
>The stores also have shoes and clothing available.
>Kmart carries Sesame Street clothing and merchandise
>for kids (Hoover's, 883).

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Replies:

Re: history of kmart -- corrie, 14:26:37 03/02/04 Tue