Comprehensive Report: Waterstones' Marketing Mix and Strategies

This report provides a comprehensive analysis of Waterstones' marketing mix, a British book retailer with a significant presence in the United Kingdom. The report meticulously examines Waterstones' strategies across the 7Ps of marketing: product, price, place, promotion, people, process, and physical evidence. The product section highlights the variety of books and strong brand value. The price analysis focuses on discounting strategies to attract customers. Place discusses Waterstones' distribution network and market reach. Promotion explores the company's investment in advertising and celebrity launches. The people section emphasizes customer service and employee training. Process focuses on inventory management and online delivery systems. Lastly, physical evidence discusses the packaging and store ambiance. The report concludes by emphasizing the importance of the marketing mix in promoting products and services and achieving customer reach.

Waterstones the
Marketing Mix

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Marketing mix...........................................................................................................................1
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Marketing mix is defined as a set of actions as well as tactics which a company uses to
promote its brand as well as product in markets. Marketing mix is considered as a foundation
model for various businesses that are centred around their product, place, price, promotion,
physical evidence, people as well as process (Kythor, 2019). Marketing mix generally used by
companies to advertise their product or services in corporate markets. This report is based on
marketing mix of Waterstones that is a British book retailer which operates in 283 stores majorly
in United Kingdom along with its nearly countries. This report includes marketing mix of 7Ps
that consists of product, price, place, promotion, people, process as well as physical evidence
along with its conclusion.
MAIN BODY
Marketing mix
Marketing mix of Waterstones are as follows:
Product: As marketing mix P in product in terms of company Waterstones deals in selling
their products under 5 white categories along with company is serving their different separate
products lines along with that its products are sold under brand name of company (Williams,
2018). Waterstones is selling their product with a lot of variety present that allows various
customers to choose a product variety according to their choices in terms of books. As company
is having strong brand value along with providing premium quality of books in terms of
information that states in having multi-level supports through online as well as in their physical
outlets.
Price: This P of marketing mix in terms of water stones company deals in discounting of
their bestsellers that are considered to be a strong and effective point of company (Thomson and
Camp, 2018). As Waterstones is always focused in in active of interest as well as excite their
customer's along with regularly inspiring them to read as well as engage in their books with
discounting concept.
Place: This P of marketing mix of water stones company is having a strategy of gaining
highest position in a book sector which is a type of distribution that has regards to its product. As
market reach of water stones is very high in comparison to its competitors by opening their store
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at old Brompton road in 1982. With company is having more than 300 stores at present date
which are providing various facilities in terms of reading of customers.
Promotion: This marketing mix P relates in in promoting Waterstones products. As company
is investing a lot of amount along with has paid of starting from piggyback strategy which they
are used for selling less interesting books for handling it along with best sellers as well as selling
it with the cost profitable for them to have big celebrity launch for their new books. Waterstones
is also engaging in having their contracting with publishers so that they can ensure that they do
not lose out competition in corporate markets in terms of books sector.
People: This P of marketing mix is used by Waterstones company for having an effective
service two customers. It relates to have working of people that are under its sales team which
plays an important role for creating marketing of their books that are launched newly. Company
is focused on hiring employees for working in their customer service department. As these are
contacted through customer in case of any issue regarding their books as well as these employees
could direct customer according to process of getting issues to be resolved (Taylor, 2019). As
this marketing mix P consist of employees that consists of working at book retail shops that helps
customers on site by answering their questions along with helping them in deciding best suited
books for their requirements. And for that the stones should provide training to its Salesforce so
that customer service as well as purchasing of customers could be e carried effectively in terms
of delivering values to customers in providing books. Waterstones should provide incentives to
its sales force by reading them bonus in terms of fulfilling their planned targets or provide
commissions to them.
Process: This marketing mix P of Waterstones should ensure that their products are to be
available at their book retail stores that has system installed so that they could be e get notified
when their inventory levels are low and provide them with more books. Waterstones is having
online delivery method in which orders of customers are received through computer system as
well as according to orders of customers relevant books are to be provided from their inventory
which is shipped to delivery service provider to customers. In order to improve process water
stones should use computers in order to handle its various process so that their efficiency as well
as timely delivery to customers could be increased in higher terms. Along with that company
should regularly look for different ways to innovate as well as improve its process in terms of
cost and delivery of books.
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Physical evidence: This P of marketing mix in terms of company Waterstones deals in in
selling its product in a variant colour packaging that could be easily determined on their retail
shelves. As books are placed on special shelves that are provided by company through a distinct
colour as well as design (Harkkila, 2020). That it will be easier for customers to locate for their
selected books easily. Order to improve their physical evidence Waterstones should collect
feedbacks as well as reviews on their customers in terms of their packaging so that they could
work on it according to customer's requirement along with that Waterstones should focus on
setting up their own stores where it provides a shopper friendly surrounding as well as ambiance
that could make customer easier to avail their products.
CONCLUSION
From above report it could be concluded that marketing mix is said to be an essential
element which is used by every companies in order to promote their product as well as services
in market so that customers will be able to reach out to them for availing their services. This
report explains about marketing mix of book retailer which explains about its 7 Ps of markets.
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REFERENCES
Books and Journals
Harkkila, J., 2020. Developing Relationship Marketing of Keltainen kirjasto.
Kythor, E., 2019. An ‘Un-businesslike-business’: Publishing Danish literature in translation in
the UK 1990-2015 (Doctoral dissertation, UCL (University College London)).
Taylor, I., 2019. Crime in context. Routledge.
Thomson, A. and Camp, L., 2018. No Small Change: Why Financial Services Needs a New Kind
of Marketing. John Wiley & Sons.
Williams, R., 2018. Melancholy and the infinite treatments: An investigative study into the
marketing of antidepressants (Doctoral dissertation, Cardiff University).
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