Kohl’s Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Kohl’s through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Kohl’s Product Strategy:
Kohl’s is America’s leading retailer and has a diverse portfolio of national and international brands. Kohl’s offers the customers all the brands they know, trust and love under one roof- from Simply Vera Vera Wang and Food network to Nike and Columbia. Kohl’s also sell their private brands like fe+Style, Tek Gear, Urban, So, Jumping Beans, Pipeline, Croft & Barrow, The Big One and Home Classics. All these cover the product mix of Kohl’s in its marketing mix. They offer products for home décor. Their home décor range starts from something as small as a picture frame and the list goes on and on. They sell furniture, Beddings, Mattress, electronics, small appliances. Kohl’s also have apparels for men, women, kids and babies. They have everything for just any occasion be it dresses, tops, shorts, plus sizes clothes, maternity clothes etc. You name it and they have it. They have a huge collection of fashion, casual and diamond jewelry. Other than all this they also sell shoes, accessories, swimwear and amazing merchandise for all the sports fans. They also offer wedding registry services in Kohl’s.
Image: flickr-photos/jeepersmedia/
This concludes the product strategy in Kohl’s marketing mix & strategy.
Kohl’s Price/Pricing Strategy:
Below is the pricing strategy in Kohl’s marketing mix strategy:
Kohl’s target customers are middle aged women who shops for their families and love rewards and discounts. It provides with a low cost structure.
Kohl’s apply the concept of centralized buying and distribution which helps it to pass on the savings to the customers and keep them happy. Kohl’s is very confident about its pricing. Any customer can bring a competitor’s in store price for an identical product and kohl’s will match it. Kohl’s have products from all price ranges as a part of its pricing policy in its marketing mix. From under $10 to as high as $500. They offer great discounts on their products. One can save up to $200 in some products. They have a clearance section on their website where people can save up to 80%. It offers great deals in every category. Though Kohl’s in store discounts varies from the online store discounts. Kohl’s mails its charge card members a special monthly mailer with additional sales and special percent off discounts. Customers get a special sales preview and a substantial discount.
Read more about Kohl’s
Kohl’s Place & Distribution Strategy:
Following is the distribution strategy in the Kohl’s marketing mix:
Kohl’s has a network of more than 1,100 stores in 49 states in the USA. Kohl’s has tried to give an omni channel experience to its customers. Other than the retail store Kohl’s has its own website and an app. They have web exclusive product lines with more brands and colors to choose from. The online store has more than three times the products than in the retail stores. Customers have always been the main focus for the company. Two years back, Kohl’s launched a buy online, pick up in store and ship from stores facilities to all the operating stores. They have launched three Off/Aisle stores in New Jersey, Cherry Hill and Wisconsin area to test new ways to allow customer avail huge discounts.
Kohl’s suppliers are made to sign legal contracts with Kohl’s Department Inc.
as they believe it is important for the suppliers to know the terms and conditions prior making a commitment to them.
Kohl’s Promotion & Advertising Strategy:
The promotional and advertising strategy in the Kohl’s marketing mix is as follows:
Kohl’s has showed preferences for emotional, message driven campaigns over just promotional plays. One such example id their “Find your yes” campaign which succeeds in touching the customer’s heart. Kohl’s has been increasingly spending its marketing budget on digital platforms and social media. The Kohl’s website is a brilliant marketing channel. It provides customers with regular discounts, sales, specials and codes on the home page itself. There are social media sharing icons available on the website so that customers can share their preferred products with their friends and family easily. This way the target audience is engaged in a pleasurable way. Kohl’s website is integrated with the app hence giving customer the convenience to shop from anytime, anywhere.
Kohl’s also provides a weekly circular to a large customer base to advertise sales, specials, and bargains available in both retail stores as well as online. The same is available in weekly newspapers, on the Kohl’s app. and website. Kohl’s has partnered with world class designers to bring unique, high quality designs that are affordable and yet stylish. FILA Sport, Marc Anthony, ELLE, Tony Hawk, Chaps, Mudd, Princess Vera Wang are some of the fashion assortment of brands offered by Kohl’s.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Kohl’s.
People:
The moment one enters the doors of any Kohl’s store one of their more than 140,000 Associates is always there and ready to help and find the best products for their customers. They see customers as a source of inspiration and they always put their needs first. They have a “yes we can” approach to things which is highly appreciated by the customers. Values like integrity, teamwork, engagement, responsibility are imbibed in the company’s culture. Kohl’s is an equal opportunity employer. It doesn’t discriminate against gender, race, religion, age etc. It is a fair and equitable workplace. The company cares for their employees and provides a lot of benefits to them like healthcare insurance to cover their basic needs. Kohl’s provide workplace flexibility and other resources to ensure a perfect work life balance for their employees.
Process:
Kohl’s has centralized a check out system. Kohl’s have very customer friendly processes where customers are always kept in the center of any decision and their comfort and convenience is of utmost priority. Customers can also order online and pick up their orders in store which will be ready for them by the time they reach the store. Customers can order online and track their orders on the website. It also provides international shipping through MyUs.com. Kohl’s has a great team of associates which take care of the sales inside the stores and also help customers in case they need something. They believe in constant improvement and serving their customers better in every way possible. Kohl’s have a feedback mechanism where customers can give their valuable feedback.
Physical Evidence:
Kohl’s has a network of more than 1,100 stores in 49 states in the USA. Kohl’s has nine distribution centers that serve more than 100 stores. They are responsible for the products to reach the retail stores on time and eventually to the customers. Kohl’s stores are huge in size averaging 86,500 square feet. They are designed keeping in mind the convenience and comfort of the customers in terms of location, layout and check point points. There are associates in the store to help the customers decide and choose among the plethora of products provided by the company. Kohl’s has an innovation center where store planning, construction, information technology and purchasing teas all come under one roof. It boasts green features like solar trees, LED lightings etc. Hence, this concludes Kohl’s marketing mix.
About Kohl’s:
Founded in 1962 Kohl’s corporation is a departmental store operator. Its first store was opened in Brookfield, Wisconsin. Kohl’s is a leading retailer in America who sells national and international brands. Since retailing is all about experience, at Kohl’s teams constantly explores and uses technology to design and develop different and unique ways to make customer’s shopping experience comfortable and effortless. Technology and innovation are the driving force of their businesses. Kohl’s has a talented team working of innovators and techies working for them. Kohl’s is a responsible company. It is constantly trying to reduce its footprint. Over 1000 stores are Energy Star certified. Kohl’s believes in creating lasting relationship with its stakeholders be it customers or the suppliers.
Their goal is to become the most engaging retailer in America. It faces stiff competition from Macy’s and Walmart.
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