British Home Stores Marketing Plan
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Lecturer – Paul Green, Greame Stephen
British Home Stores is a UK based department store privately owned by the Arcadia Group since 2009, targeting to the family market selling clothing and home ware items throughout the UK and internationally. As marketing consultants of BHS we have advised and develop a marketing plan proposal to re-establish the brand as a British family favourite high street store. Regarding our market research we have found that BHS has a place in the market as people are still spending high volumes in the retail industry. In addition, due to the current recession the public are buying more low-valued garments which goes in favour of BHS as they cater towards a budget conscious market. Although, BHS have establish that their typical customer would be part of the grey market we aim to reposition our target market to younger families (30-50) as this is a market which is not cater for enough in the retail industry. This reposition will be achieved by locating in retail parks closer to the younger families homes and through social media as this is being increasing use by the market were trying to reach to. Our team have decided to implement a point’s card as a part of our loyalty scheme; this should encourage customers to make repeat purchases, creating loyal customers. Also, this will allow BHS to collect data of our customers and see high selling products an indication to increase stock levels and low selling products to reduce the stock. Plus, target customers individually by analysing trends of their purchases and then being able to send them offers and discounts on particular item their interested in. Our current brand image of BHS is outdated and although being recently rebranded it has not been carried out throughout all stores leaving some areas with the old fashioned styles store restricting us from reaching the younger marker. Therefore, our future plans for the brand image is to achieve one of our objective to create a strong and positive brand image with similar qualities to the company Coco-cola as they have a very powerful brand image. British home stores should, to increase customer awareness of the brand, incorporate social media a lot more into their marketing plan. Social media is becoming a priority over the coming years and like many competitors have already taken on board, social media sites such as Facebook and twitter can develop a huge customer base, keeping customers up to date with new things happening in the store as well as allowing the company to include competitions and view feedback about their products easier. A social media base can also mean BHS will be able to determine what consumers want. Bhs offer high quality clothing and home wear at reasonable prices to satisfy the needs of every member in a family. Bhs have a number of different departments within the store including women’s fashion, men’s fashion, children’s wear, home wear and wedding. It is suggested in the report that in order to boost sales Bhs should replace the wedding range – which has received very bad reviews online- with a cosmetic range. During market research, our marketing consultants have discovered how well cosmetics sell in the UK so this could help BHS’ sales.
Our current distribution plan is very effective and successful therefore, only small improvements are required. The improvements which will be emplaced will be investing larger transportation of double decker lorries to increase stock levels in store and reduce long distant journeys. Furthermore, additional suggestions of building a second distribution centre in Scotland to increase speed in stock distribution in the stores located in the north. BHS current pricing plan is effective as it is a policy of quality goods but at value for money prices, this policy has been set for numerous years and is one of BHS’s...
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