Published by MBA Skool Team, Last Updated: February 05, 2019
Marketing Strategy of ShopRite 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 ShopRite marketing mix, help the brand succeed.
ShopRite marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the ShopRite Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
ShopRite Product Strategy:
The product strategy and mix in ShopRite marketing strategy can be explained as follows:
ShopRite supermarkets is one of the most popular retail chain brands in the USA. The ShopRite supermarket provides wide range of grocery products like fruits, vegetables, Gourmet products, baby food, hair and beauty, beverage shop and other convenient goods. They also offer platters, cakes, pharmacy and retail dietician as a part of its marketing mix product portfolio. The products are targeted on average middle class customers. They have catalogues which shows seasonal specials and have a ShopRite app. It offers products from multiple brands across various categories.
ShopRite Price/Pricing Strategy:
Below is the pricing strategy in ShopRite marketing strategy:
ShopRite offers products at reasonable and competitive prices for its customers.
The pricing is reasonable as target segment is the average income population. There always offers on the products like ‘Extra ways to save this January’. ShopRite have money market services as well where the customers can opt for services to manage their money, provides money transfer services. There are saving stamps, business and gift cards. There are ways like through contests to buy airtime, free education.
Following is the distribution strategy in the ShopRite marketing mix:
ShopRite provides online grocery delivery and online grocery pickup options. There is a store locator on the website through which customers can find their nearby ShopRite supermarket. There are currently 290+ stores and it is present in 300 locations.
The ShopRite company is dominant in cities like New Jersey, New York, Connecticut, Delaware, Maryland, Pennsylvania.
ShopRite Promotion & Advertising Strategy:
The promotional and advertising strategy in the ShopRite marketing strategy is as follows:
ShopRite uses creative promotional strategies like ‘ Extra ways to save this January’, ‘Extra back 2 school savings’ , Act for change providing chance to have free education an year, Offers on various bakery dishes and organising programs for entrepreneur and showcasing on the YouTube. The Can Can sale and New Year pantry are some other strategies. The company also have Price plus club where customers can access weekly discounts and offers. ShopRite also promotes itself through print ads, posters, OOH, online ads, social media etc.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of ShopRite.
ShopRite has physical stores in 300+ locations and also offer online grocery delivery services, online grocery pick up options. There is no specific format for the stores but they include creative ideas like phone booths to increase attraction. The logo is red and has a shopping cart depicting, ShopRite is one stop solution for shopping. Its website, online presence, packaging etc also form a part of its physical evidence.
ShopRite company has 40+ members and the customers are the key. The employees are trained to be friendly and provide cordial services. There are programs for employees as well. There is customer care platform on the website were the ShopRite customers can complain regarding any problem they facing or suggestion they want to provide regarding their services. There are several community initiatives, the company takes to make a difference, fight hunger and empower women.
ShopRite, like every retail company, has a strong supply chain, distribution, inventory management etc which help in its business processes. The customers can buy goods from the physical stores or order online where they get both home delivery and pick up options. The employees assist the customers in the stores and provide a seamless experience. Hence this concludes the marketing mix of ShopRite.
ShopRite is a range of supermarkets which are cooperative in nature. It was founded in 1946 and it’s been 72 years since ShopRite came into formation.
The parent organisation is Wake Fern food corporation. ShopRite ranked as one of the top in terms of sales and business.
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.
Browse marketing strategy and 4Ps analysis of more brands similar to ShopRite. The Marketing Strategy & Mix section covers 4Ps and 7Ps of more than 800 brands in 2 categories.