Retail Marketing And Promotion
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Unit 5
Retail marketing and Promotion
Assignment 2
In this assignment I will be more focusing on how the companys use retail mix, what are the components of a retail mix etc.
Retail mix is a retail tool, It is a checklist. It focuses attention on various elements of marketing needed to carry out the marketing strategy. First I will be looking at Tesco.
tesco currently are number 1 in the market. This has given tesco a very respectable image to its customers and business. Tesco are well known in the U.K and abroad.
Pricing strategies- tesco are always looking for strategies to lower prices from their competitors, they have even got price checkers on their website (www.tesco.co.uk). Which allow customers to compare prices between their supermarkets, this shows how confident they are on what they offer. Like every business, tesco price their products for example Ј1.99p instead of Ј2.00.
Product range- because tesco are a supermarket they have almost everything a customer would want for example from dog food to home mortgages. They are a business which has a range of different products (Breadth) for example they will have a certain style of TVs.
Place- because Tesco have to consider where they are located when opening a store. They have to locate their stores at places which are close to the public for example high street.
Distribution- have to consider how they are going to distribute their products, via Internet/ or customers coming to the store.
Design/ Atmosphere- They have to consider also the design and atmosphere of their stores. Tescos corporate colures are Red, White and Blue, the stores have open and fresh feel about the place. This is because of the white floors, to make the place look bigger, rows of stocks and easy to read signs to help you find the product you are looking for.
Like tesco boots have similar components of retail mix.
Product range- Boots product range is based on health and beauty products, they are a in depth business for example they would have a selection of toothpaste ranging from sensitive to mint. Unlike a Breadth store which will just have couple of selection.
Pricing strategies- Boots pricing strategy is simple to give customers great products, with high quality for low affordable prices. This is done considering they are still trying to maximum profit.
After sales services- boots offer you service like if you have a problem with the product or does not