Poundland Strategic Marketing

1060 Words Jul 29th, 2013 5 Pages
Strategic marketing is the management of the processes for creating, communicating and set of goals that enable products and services to reach the customer profitably.(source)

This management activity is set in ways that enable coordinating its functions to be in line with the organizations objectives, strategies and goals. Poundland promotes their sales strategy through their slogan: "Yes, Everything 's £1!".[15] By having a set price for all of their stock, the company avoids the need to transmit pricing information to each store as well as the need to associate individual price tags with each item.[25] Although the retailer encountered apprehension from some manufacturers worried about selling their brands in a discount environment,
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if the company is selling a number of pencils as a set, this number could be reduced to account for changes in inflation.[26] Upon joining Poundland as CEO, McCarthy had plans to expand the price offering and increase the margin, envisaging a £2 section, a 50p section, a discount zone, and so forth. Upon visiting America to see how the discount stores over there did it, the overwhelming message was not to change the single price as customers understand it.[27] The retailer is able to dismiss concerns whenever the pound becomes weak, as this means shipping and freight costs also reduce, which counteract the impact of a weaker pound.[7]
Since November 2003, all of Poundland 's stores have been using an advanced point of sale solution, developed in-house running on Epson 's touchscreen Intelligent Registers (IRs).[28] The primary purpose is to track and understand which products customers are buying, allowing for up-to-date tracking of the most popular products, helping to ensure constant stock via automated ordering.[28] Their PoS system is set to improve further, with trials underway of contactless payments in two of their London stores for payments of £10 or less to make purchasing goods even quicker. The technology was introduced in 2007,

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