The overall goal of marketing of a firm is based on the level of competition in the areas of operations. Marketing involves a thorough analysis of customers’ preferences and uses the analysis to make the decision to beat their competitors. Therefore there raise the need for firms to adopt marketing concept to meet their objectives. The setting of marketing goal is the first step to consider to define the purpose of the activities. The core concepts in marketing are the ability to manage the social and managerial process of the firm. The firm should consider the location of the retailer to help them reach customers and satisfy their needs. Firms should encourage meeting the marketing mix concept (Peter, Olson & Grunert, 2013). Marketing mix includes place, promotion, products, and price. The manufacturers should ensure that the goods get to the final consumer by locating or distributing to retail and wholesalers. Managed supply chains ensure that good are near the customer and can reach them quickly. Quality products that fully satisfy the needs of clients gain the firm a competitive advantage over their competitors. Promotions make people know the existence of products and their use. In most cases, the producers use price to show the value of the products. They should first evaluate the target market then set the prices that the consumers can afford. In this paper, it extensively looks into the marketing concepts of a retail shop (Pradiptarini, 2014).
The retail shop chosen is David Jones. David Jones is a department store that is owned by Woolworths Holdings Limited. It is a public company that deals with a variety of products including home items, fashion, electrical and beauty products. The company has limited liability from its owner, and therefore the company is entirely liable for debts of the enterprise. It is also responsible from its owner, Woolworth Holdings Limited South African retail group. The company was founded back in 1838 by a Welsh immigrant named David Jones. It has operated under this name since it was founded and therefore stands to be the oldest in the world to use its first name continuously. The departmental has continuously grown rapidly and established its stores across the territories of Australia. (Jain, 2014).
In 1920 it established another store along Elizabeth Street that was succeeded by Jones’ child who was visionary. During the Second World War David Jones faced a lot of problems regarding capital and loss of its employees in the armed forces. It victorious managed the hardships and later took a collection to Sydney of Paris styles. From 1955 to 1985 it was the time that the company has grown rapidly in Queensland, south of Australia and Victoria. In the 2000s the enterprise hired an ambassador to represent their products and feature marketing campaigns. It signed a lot of agreement with manufacturers to avail their products in the stores.
The store has faced stiff competition from Myer that has developed the need to set marketing strategies to beat the competitor. In the middle of 2016, they had expanded their operation to New Zealand in Wellington where they set another store to enable them to reach them customers. Still, the headquarter were moved to Richmond from where they were situated in Sidney. David Jones has the old operating departmental store that is widely established in all parts of Australia.
In the range of products in the David Jones corporate store the selected branded product is Maxwell &Williams. They are home items mainly kitchen products that have more than 305 differentiated products. Maxwell & William products include mugs, plates, bowls, teapots and more (Goodman & Thibodeau 2013).
The main reason why I select this product in David Jones store is that the products of Maxwell& Williams are recognized globally for the designs and affordability. The popularity of these products is well known across UK and parts of Ireland. The products are sold in more than 50 markets in the world and more retailers including David Jones. They are trendy and use new designs that attract customers from where they are placed on the counter. The price of the utensils are affordable and do not sacrifice the quality of the product.
Another reason that made me choose the product is the lifestyle that customers deserve. Customers got changing needs and preferences, and therefore manufacturers need to conduct market analysis and learn what to change (Pradiptarini, 2014). The products of Maxwell &Williams are at par with the current lifestyle to satisfy the needs of its customers. The goods are unique with a variety of collection that gives users a chance to make choices on what they want. The diversity of its collection can be noticed from other home brands commodities. The varieties of ranges are designed to supplement and improve users’ daily life.
The third reason is that their products have a vast market share that has gained the loyalty of the customers. Through producing latest designs, they keep their customer loyalty and purchase the items. Their products run from kitchen all the to the dining room where they provide table tops other dinning products.
Market segmentation divides the business market or consumers into subgroups. The segments that result from the division are clearly identified by the Maxwell& William on the needs, characteristic and wants characteristic of each segment. Through segmentation of the market, Maxwell William can determine where their customers are located, and use distributors like David Jones reach the customers. David Jones avail products of Maxwell& William to where customers can reach them quickly and easily (Edwards, Gordon & Reich, 2014).It can know when the goods are required or when their products are purchased in large amounts and plan for the peak seasons. Market division gives the Maxwell & William as well as David Jones on the best promotional techniques. In some cases, advertising through television can be an advocate to reach to large numbers. Billboard also reaches out to a large part of the market. Different market segment needs different prices for the products. This is to ensure that products are affordable both to the wealthy and also to the middle class.
There are four main basics of segmentation of the Maxwell& William products that is based on behaviours, demographic, psychographics, and geographical location. Regarding responses of people to change the preference of designs, the products are supplied in many designs to cater for the behavioural segmentation. Supply of products to David Jones stores is to reach to the customers in Australia and other parts of UK (Reich, Gordon & Edwards, 2014). Through the supply of goods to David Jones then it can reach to customers that stay around the store, therefore, satisfying the geographical segmentation (Eldering, 2013).
Another is demographic segmentation which targets female customer. Some people love colourful Maxwell& William products while other want single colored items. They produce all these products to satisfy those who need interesting kitchen items and who don’t. The psychographic segment is based on lifestyles. The product in David Jones counter is a clear reflection that the segmentation of the market is based on customers’ needs and wants.
Marketing strategy helps the organization defines its objectives and direction. Articulation by the firm on how to deliver goods and satisfy the customer can be accomplished by identifying the target market. The target market is the potential customers that both David Jones and Maxwell& William should keenly identify. In this caser, they are mostly women customers. This is because of the cheerful colors that are portrayed by most of the products (DiMingo, 2014). The market can be identified through carrying ought analysis and also taking feedback from customers. This helps the firm to learn the mistakes and lifestyles that are upcoming or clients expect.
Through identification of customer tactical implementation strategies are put in place to reach the customers. For Maxwell& William products they have largely invested on marketing mix tactics. They offer similar but differentiated products. (DiMingo, 2014). The products are differentiated regarding colors, sizes, and Materials. Different customers have their choices on what colour and material they want. They have substantially invested in the differentiation of products which is intended to create a different impression to different customers.
Another tactic that product in the counter shows is the environmental presentation of goods. Maxwell& William’s products are perfectly presented to reach their customer and create a positive impression. David Jones is one of the most favourite stores in Australia. It has also been the oldest, and it has a vast market share since most of the customers are loyal and want to shop in these stores. Placement of Maxwell &William’s product in this store is to ensure that clients can get the product easily and create awareness of the products’ existence to new customers in the stores (Pradiptarini, 2014).
The buying experience that customer get in David Jones Stores is cool, and most employees love shopping in the department store. The tactics used not only reach the target market but improve the customer loyalty.
Positioning helps to create an impressing image in the mind of the customers. This can be done through advertising the products that they may know more about the [products. This helps to position the products in the market since people will start looking for those products in the stores and wholesalers. (Cravens & Piercy, 2012).
Maxwell& William Brand products are placed on the counter where they are named that attracts the attention buyers to try to know more and that curiosity can lead then to buy. They are put in other similar items from other companies, and their attractive designs and colors attract the attention of buyers. This helps to create a distinct image in the mind of employees. This is the best positioning of the products that leads to impulse buying. Improving in designs help customers to choose the products for buying (Brandt, 2014).
The goods are placed in check-out points where they attract buyers. They can be seen easily than other similar products. These help customers to have an easy time to find the products than when looking for competitor’s goods. Through this David Jones increase, their sales and also Maxwell& William earn more profits (Brooksbank, 2013)
Price is another that has positioned Maxwell& William products at a high level since the prices are affordable. The Products are differentiated regarding prices and that make them accessible to people of all class.
Conclusion
In the paper is clear analysis the marketing strategy used by Maxwell & William branded products to gain market share. The tactfully use the marketing mix concepts to entice the customers in David Jones stores. They use price which they make it affordable to all classes of people. They avail in the nearest stores close to customers reach. The positioning of the good in the stores promotes the goods and makes their awareness new and existing customers in the stores. The markets for these products are divided into four parts that are demographic segmentation, psychographic, geographical and behavioral. The producers can learn change of behaviors of customer and tailor the products according to the customers. They are to divide the market according to the areas that their products are in more demand. According to the history of David Jones, it is the oldest with more than 175 years of survival in the market. It has continuously increased to grow to respond to the need of many customers who depend on them. The business has faced challenge particularly in the time of world war that it successfully managed. (Eakin, et al., 2014).
References
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