An Analysis of TK Maxx's Marketing Strategies and Plan

This report analyzes the marketing plan for TK Maxx, focusing on key elements such as the executive summary, target customers, unique selling propositions, positioning and pricing strategies, distribution plans, and promotional strategies. The report delves into the marketing mix, including price, product, promotion, placement, people, physical condition, and process. It highlights the importance of a clear promotional strategy and outlines the process of discovering data, setting a reasonable timeline, and incorporating specialist insights. The report also examines how TK Maxx can effectively target its marketing efforts to increase sales and profitability. References from academic sources are included to support the analysis.

THE MARKETING
GROWTH STRATEGIES
OF TK MAX
LO3

BASIC MARKETING PLAN FOR TK MAX
• Executive summary – It assists in summarising essential things within the marketing
plan which may be considered while development of the plan for providing effectiveness
and strength. Advisers, overview and employees must be involver in executive summary.
• Target customers – This section will support business to identify their target customers.
Clearly identified target customers helps an organisation to pinpoint its advertising
effectively.

CONT.
• Unique selling prepositions (USP) – Unique selling proposition refers to making unique
path to sell products and services that help them in differentiating them to other products
offered by the competitors in the market.
• Positioning and pricing strategy – Pricing and positioning strategy is critical for TK max
for making a premium brand as compared to others.
• Distribution plan – Distribution plan consist things related to the way customers will
purchase good and services offered by the organisation effectively.

CONT.
• Promotion strategy – Promotional strategy will support organisation in providing full
information with regards to goods and services offered by in the market to the customers
for increasing sales and profit. There are various promotional techniques such as trade
show marketing, television ads, online advertising, press releases and event marketing.

DETAILED COHERENT EVIDENCE BASED ON
MARKETING PLAN
• Discovering data
• Reasonable Timeline
• Specialists Insights
• Alerts

KEY PROMOTING PLAN
• Promoting target: Marketing target is likewise significant keeping in mind the end goal
to target what the business needs to accomplish with a specific end goal to expand deals
and benefit(Elenkov and et.al, 2014).
• Marketing strategy: Strategy and plans are figured by administration keeping in mind
the end goal to accomplish advertise deals and benefit which additionally help to achieve
wanted objectives and destinations successfully.

MARKETING MIX -
• Price - The measure of cash expected to purchase items
• Product - The real item
• Promotion (publicizing)- Getting the item known
• Placement - Where the item is found
• People - Represent the business
• Physical condition - The atmosphere, state of mind, or tone of nature
• Process - How do individuals get your item

REFERENCES
• Elenkov, D., 2014. Experiential Exercise with Multinational Student Teams: Researching
Together a Multinational Corporation and Developing Jointly a Strategic Marketing Plan
for IT Using Blackboard. Developments in Business Simulation and Experiential
Learning, 41.
• Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015.Marketing: an introduction.
Pearson Education.
• Westwood, J., 2016. How to write a marketing plan. Kogan Page Publishers.

THANK YOU