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Marketing Essentials Assignment | TK Maxx

   

Added on  2021-01-02

19 Pages3956 Words103 Views
Marketing

TABLE OF CONTENTSTABLE OF CONTENTS..............................................................................................................2INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3PORTFOLIO...................................................................................................................................3Overview......................................................................................................................................3Promotional techniques...............................................................................................................4TASK 2..........................................................................................................................................11Application of 3 marketing theories to TK Maxx.................................................................11CONCLUSION..............................................................................................................................16REFERENCES..............................................................................................................................17

INTRODUCTIONMarketing is an essential part for every organisation, this is critical to market productotherwise it can not be sold effectively and profitability can never be attained. Throughmarketing the product and organization both are m advertised and prorated to make people awareabout them. Marketing plays a crucial role in growth, development and profitability of acompany as with this only the sales are increased. The present report in about the marketingplans and strategies used by the clothing brand TK maxx. In the report the marketing portfolio,promotion mix and theories which are used and applied by the organisation is explained in detail.TASK 1PORTFOLIOOverviewIn store:TK Maxx is referred as American department store chain and selling at prices which arelower as compared to similar stores. It comprises in Retail industry and founded in 1976, 42years ago by Bernard Cammarata. It has presence of more than 1000 stores in Puerto Rico andUnited States as one of the largest retailers of clothing in US. Its products are of clothing,furniture, jewellery, handbags, beauty products, bedding and domestics. It is located moreapproximated 1238 places. They have approx 249000 employees with $35864664 sales as on 3February 2018 (Annual report of TK Maxx, 2018).LocationHigh streetLayoutsFlexible store layoutsSize of shop3500 sq metersSpecial offersBlack Friday deals, A white Christmas.New launchesAustraliaWaiting time at tills1-2 yearsAtmosphereHigh quality clothing, footwears, accessories and great value ofhomewaresMusic BackgroundInstrumental musicCustomer RelationshipAppropriate feedback and personal queries will be solved,proper queues.It will impact organization for setting competitive advantage.Staff249000The staff is enough for every activity of fashion store and to give

attractive brand image.Away from store:Promotional techniquesAdvertising: TK Maxx uses various technique for presenting goods, ideas and servicesthrough determined sponsor. It advertises messages in customised aspect for employingmass media like newspaper, television, magazines and radio. Advertising might target itsindividuals on basis of their profile features and behaviour. The advertising is highlyfocussed for promoting retail banners instead of individual products such as promotingnumerous banners and it also contributes in advertising budget.Figure 1 TK advertising(Source: Campaign, 2018)Digital marketing: It covers huge ground through websites, search engines, social mediamarketing and content as well. The tools of digital marketing and its techniques evolve in

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