Spencer’s Retail Marketing Mix: Spencer’s Retail is associated with the retail and lifestyle industry. It was founded of Indian origin and was established in 1863 under the brand of Durrant & Spencer by its co-founders William Spencer and Charles Durrant. It is currently an affiliate of the parent company, RP-Sanjiv-Goenka Group. Spencer’s Retail has emphasized quality throughout its Product and service quality, as well as the customer-engagement programs.
Contents
Marketing Mix Of Spencer’s Retail
Marketing Mix Of Spencer’s Retail is brand-based. In Marketing Mix Of Spencer’s Retail, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Spencer’s Retail Marketing Mix. Below is the detailed Marketing Mix Of Spencer’s Retail.
Let’s talk about Spencer’s Retail Marketing Mix.
Spencer’s Retail Main Competitors
- Pantaloon Retail
- Lifestyle Brands Ltd
- N Stores Food Retail Pvt Ltd
- Aditya Birla Retail Ltd
- Big Bazaar
- Reliance Fresh
Spencer’s Retail official website: www.spencersretail.com
Product in the Spencer’s Retail Marketing Mix:
Spencer’s Retail, as the name implies, is a chain of stores offering various items. It began with the Food-First model, but many of its outlets contain multiple products. Spencer’s Retail encourages weekly, daily, and specialty shopping to meet every customer’s desire and desire. The product catalog includes the following items:
Food Items
- Spices and condiments
- Meat and Fish
- Dairy Products
- Processed Food Items
- Beverages
- Staples
- Fruits and Vegetables
Specialty Products
- Fun-filled celebrations
- Dry fruit and Nuts
- Baby Food
- Pet Food
- Diet Food
- Organic Food
Home Products
- Stationery and Toys
- Travel needs
- Dining Essentials
- Kitchen Essentials
- Bathroom Essentials
- Furniture for the Home
- Home Decor
Personal Care
- Personal Hygiene
- Grooming for Men
- Baby Care
- Oral Care
- Hair Care
- Skin Care
- Beauty Products
Accessories and Fashion
- Footwear
- Accessories
- Innerwear
- Women’s ethnic wear
- Casual Wear for Women
- Office Wear for Men
- Casual wear for men
Electronics and Electricals
- Digital Equipment and accessories
- Electrical Fittings and the accessories for them
- Kitchen Appliances
- Home Appliances
Place in the Spencer’s Retail Marketing Mix:
Spencer’s Retail has spread its presence over thirty-five cities to include more than one hundred twenty locations in India. Its headquarters is in Kolkata, located in West Bengal. Spencer’s operates through a retail chain with a twin format. Hypermarkets are referred to in the form of Spencer’s Hyper, and a Convenience store is referred to as Spencer’s. The biggest outlet is located in Kolkata located in South City Mall and is sprawled over an area of 72,000 square feet.
Other significant stories can be found in Allahabad, Bengaluru, Chennai, Baroda, Durgapur, Ghaziabad, Hyderabad, Lucknow, Mumbai, Noida, Warangal, Varanasi, Tanjore, and Haridwar. Spencer’s Retail offers convenient and personalized shopping at convenient locations with a relaxing environment via Spencer’s Hyper, Spencer’s Super, Spencer’s Daily, Spencer’s Fresh, and Spencer’s Express.
Price in the Marketing Mix Of Spencer’s Retail:
Spencer’s Retail is one of the most well-known retailers in India. In India, the two main ways to survive are discounting and differentiation. The company has placed its burden upon both. Spencer’s is among the oldest retail stores in India, with a number of firsts to its name. It has earned its place as a top destination for shoppers with an extensive selection of high-quality merchandise at affordable prices. Spencer’s Retail has adopted an affordable pricing policy and made its prices affordable to grow the customer base. It has instituted a promotional policy that offers incentives to boost sales by bulk to earn higher profits.
Promotions in the Spencer’s Retail Marketing Mix:
Spencer’s Retail has adopted promotional strategies to boost its brand’s exposure. It has printed ads in brochures and newspapers by providing information about current incentives. It has received a number of numerous awards and distinctions in a variety of categories, including Most Admired Food and Grocery Retailer of the Year at the Cocoa Cola Golden Spoon Awards, 2016 Best VM & Retail Design in the Hypermarket Category, and the highest job creator within the Eastern Region, Best Practice Award, and Most Admired Retail company of the year 2013.
For its promotion strategies, Spencer’s offers incentives like Monsoon Dhamaka Discount Sale, Monsoon Dhamaka, and periodic sales. They reward their loyal customers with their smart rewards Program. Regular customers earn points with every purchase and can redeem them once an amount is earned. Spencer’s Retail has launched Spencer’s Gift Card to make a great gift for family and friends. It can be loaded with a value of between Rs 500 and 9,999.
This is the Marketing Mix Of Spencer’s Retail. Please let us know if you have additional suggestions to add.
[wp-svg-icons icon=”bubbles” wrap=”i”] Let us know What do you think? Did you find the article interesting?
Write about your experiences and thoughts in the comments below.