Published by MBA Skool Team, Last Updated: March 06, 2017
Marketing Strategy of Shoppers Stop analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Shoppers Stop marketing mix, help the brand succeed.
Shoppers Stop marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Shoppers Stop Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Shoppers Stop Product Strategy:
The product strategy and mix in Shoppers Stop marketing strategy can be explained as follows:
Shoppers Stop is one of the leading fashion retail brands in India. The product portfolio offered by Shoppers Stop is huge as it is a retailer for fashion. The various segments of products Shoppers Stop offers are women, men, kids, gifts and home furnishings and décor. All these help in understand the marketing mix product strategy. The men segment is further divided into clothing, accessories, shoes, jewellery and grooming products. Similarly in the women segment we have clothing, accessories, shoes, jewellery and beauty care products. In the kids segment we have boys and girls clothing, shoes, clothing for infants, toys section and kids accessories. The gifts offers sweets and chocolates, premium gifting section, instant gifting as well as gifting for special occasions. In the home furnishings and décor segment it has kitchen and dining section, furniture, bath ware, home décor, living room section, electronic appliances and a bedding section.
Shoppers Stop provides various international brands, domestic brands as well as some in-house brands. Shoppers Stop has sister brands such as Crossword which sells books, Home Stop which sells home solutions, Brio and Desi Café selling Amalgamated Bean Coffee, Hypercity which offers like a supermarket, M.A.C. which sells cosmetics range, MotherCare which sells product from mothers and babies and TImezone which looks after the entertainment division.
Image: company website
Shoppers Stop Price/Pricing Strategy:
Below is the pricing strategy in Shoppers Stop marketing strategy:
Shoppers Stop sells different international brands and are very competitively priced because there are many competitors such as Wills Lifestyle, Pantaloons, Future group, Myntra, Jabong, Trendin, Snapdeal and many more.
As the market has been flooded with so many competitors, Shoppers Stop has to provide discounts and has to come up with various sale events all throughout the year to sustain in the market. The discounts are generally placed on old stocks and new arrivals are generally not discounted. The apparels offered by Shoppers Stop can be found from very low prices brands of 300 and goes up to around Rs. 10000 for designer collections. The prices also vary according to categories also and the items to be purchased. Generally for the women there is a much wider variety as they shop more frequently and cover a more varied range of prices and brands. This gives an insight in the Shoppers Stop pricing strategy in its marketing mix.
Following is the distribution strategy in the Shoppers Stop marketing mix:
Shoppers Stop has presence in 35+ cities in India with 80+ stores in total which are present strategically all over the country. Hypercity, Home Stop, Crossword, MotherCare stores are also spread across India. Shoppers Stop also has presence in e-tailing where we can access the product through online and mobile apps which has access to over 1200 towns and cities.
Shoppers Stop has 4 regional distribution centres which work 24x7 to provide timely movement of the products to various stores all over the country.
Shoppers Stop Promotion & Advertising Strategy:
The promotional and advertising strategy in the Shoppers Stop marketing strategy is as follows:
Shoppers Stop uses print and online media as effective tools to advertise. Promotions of Shoppers Stop are mostly focused on advertisements of various kinds. It has print advertisements, outdoor advertisements such as billboards and other major places across cities. Shoppers Stop also ties up with many other companies to produce specialised apparels. Print advertisements has been used to showcases latest fashion and trends available at its stores. Shoppers Stop has First Citizen loyalty programs which has tied up Citibank credit cards to provide members with extra benefits. It is also using the online platform to make a dominance over various social networking sites such as Facebook and Twitter and opening YouTube channel named ‘Style Hub’. Shoppers Stop also has various sales promotion which its customers wait for such as the ‘End of Season Sale’ and other regular sales promotion. Shoppers Stop also conduct various social responsibility activities such as partnering with NGOs, providing vocational trainings for youth and training the handicapped for livelihood.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Shoppers Stop.
Shoppers Stop also focuses on enhancing the skill sets of its employees by continuously coaching them. Also various workshops are conducted for the employees to maintain quality of the employees. Fair evaluations and timely assessments are done for building leadership qualities among its employees. The frontline staff of Shoppers Stop are timely updated with the help of various training modules. Also. To enhance knowledge they are also updated with various technologies for enhancing efficiency in various processes. Shoppers Stop also enhances skills of its customer care representatives by career planning and trainings. It conducts satisfaction surveys of the representatives which helps in redefining the various policies to employee loyalty. Shoppers Stop has an employee base of around 7400+ and timely recruitment of qualified staff is done to cater to the needs of the customers and handling various functions. Shoppers Stop also has venues for training the executives such as the F.L.E.X. program which trained 176 department managers in 2016 to enhance the capabilities of various stores. Other learning systems are in place through the online platform to provide timely updates and rectify flaws in the processes.
Shoppers Stop has got various processes and frameworks. The layout of the Shoppers Stop stores are quite standardized and has ground floor having cosmetics, watches, perfumes and other accessories. The 1st floor has clothing accessories and the 2nd floor has shoes, formal apparels. The customers are provided with facilities of keeping baggage at a counter and entry through all the floors. To enhance customer experience they are provided with physical trial rooms by Shoppers Stop as well as virtual trial rooms which are online systems which provide real feel of wearing the garment. The checkout counters are placed on all the floors with multiple counters for speedier checkouts. During checkouts loyalty program members are given benefits of reimbursing points or gathering them as well as getting new customers.
To provide the best merchandise on the Shoppers Stop stores on the right places, specialized teams are in place. These teams fix the clothing line ups starting from colour to style and latest trends. Shoppers Stop also has a wide base of suppliers which are chosen after stringent evaluations and other alternate venues are in place to mitigate the adverse situations. Various IT systems are there to manage the backend processes as well as enhance the online shopping experiences. Customers are also asked for feedback through online channels for gauging there shopping experiences.
Shoppers Stop stores have more than 300 brands of apparels arranged in various places in the store and properly sorted according to the various segments so as to enhance the customer experience. The frontline staff of Shoppers Stop provides assistance to these customers in terms of consultation about latest trends and sizes and help in trials. They also guide them to various segment of the stores. Customers are also provided with trial rooms to try their outfits and choose according to their tastes. Customers are also provided with trolley bags to carry multiple items. They are also helped with the billing and packing process at the checkout counters. In the online format customers are provided with speedier deliveries and customer buyer guide to follow them through with purchase and make choices. This gives a summary of the Shoppers Stop marketing mix.
About Shoppers Stop:
Shoppers Stop is a player in the retail industry. Shoppers Stop has become one of the leading fashion retailer in its 25 year journey. It was initiated in 1991 by the K Raheja Group in Mumbai with men’s apparel. Shoppers Stop has diversified through years and has built specialized stores in various segment in the form of sister stores. It had earned a revenue of Rs. 34+ Billion. Shoppers Stop has got an employee strength of over 14000 and has reach over 38 cities in all over India and many more through its online platform. Shoppers Stop is currently the only member to be in the league Intercontinental Group of Departmental Stores which has various big retailers such as Karstadt in Germany, Selfridges in England and Manor in Switzerland.
Shoppers Stop has been also winning words since 2000. Recently it has been chosen as the ‘The Most Respected Company in Retail’ by Business World.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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