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Whitcoulls Strategy Plan
Transcript of Whitcoulls Strategy Plan
New Zealand based retailer of books, magazines, stationary, toys, arts and crafts and various other consumer goods.
Essentially competing in multiple market segments due to wide product offering.
Market has become fragmented due to technology and consumer behaviour.
Tackle the fragmented market by segmenting product offering and repositioning the brand in three distinctive markets.
Whitcoulls Marketing Plan
Founded in 1882 - has grown to become a prominent player in the New Zealand retail industry.
Recently experienced financial trouble due to changing market conditions and consumer behaviour.
Currently has 59 retail stores around New Zealand as well as an online store selling a similar range of products.
Worldwide, trends in technology and consumer behaviour are having a large impact on company's like Whitcoulls.
Printed book sales have been declinig globally - but the impact has not been as strong in NZ - a large proportion of consumers are still buying printed books.
Delivers added value through Top 100 reccomendations and Whitcoulls Rewards.
Technological andvancements have had a direct impact on Whitcoulls core product sales.
Lack of specialisation doesn't clearly communicate the value that Whitcoulls has to offer.
Whitcoulls competitors have better positioned themselves to deal with changing markets.
Presented by Jon Beazley
Problems and Opportunties
Where next for Whitcoulls?
Strategy to get there?
1. Maintain strong sales of printed books for the next three years. This means offsetting the 2.7% decrease that was experienced in New Zealand during the first 36 weeks of 2012.
2. Become a market leader in the growing technology driven eReader and eBook market over the next three years. This will be determined by market share and sales.
3. Establish a 25% market share in the specialist stationary market over the next three years.
Differentiation strategy: Create value for customers through differentiating features. In store reccomendations, Whitcoulls rewards and Top 100 list.
Positioning: Position Whitcoulls Books as a print book specialist by emphaszing wide, exclusive and unmatched product range and quality of service.
Price leadership strategy: Create value for customers through offering the lowest price eReader's and eBook's available to New Zealand consumers. Draw consumers away from international sellers.
Positioning: Position Whitcoulls Online as a market leader in the online retail industry through comprehensive product range and high quality service elements such as customer support and delivery.
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Differentiation/Price leadership strategy: Create value for customers through comprehensive product range and specialist stationary products for business, personal and schools at a highly competitive price.
Positioning: Position Whitcoulls Stationary as a stationary specialist, highly capable of meeting and exceeding customer needs and offering a high level of customer service.
Focus on augmented
product and product range
Library like servicescape
Key aspect in creating
added value for customers.
High levels of customer service. "Book specialists"
Physical evidence of service:
Focus on range of core products and augmented features: delivery, customer service and support.
Utilise internet marketing, SEO and Google ads campaigns to ensure customers looking for online retail find Whitcoulls Online first.
Key aspect of Whitcoulls online, free shipping.
Online customer service and support,
order tracking and returns.
Wide scope of stationary products
Use wide reach channels such
as TV and radio
Suburban and central store locations
Like Whitcoulls Books people will be used to add value for customers
High levels of customer service and support
Physical evidence of service:
Will communicate the 'specialist' aspect of Whitcoulls Stationary
Will communicate the distinct value Whitcoulls has to offer.
Use wide reach channels such as TV and Radio