A Review Of Waitrose Marketing Essay

Published Date: 23 Mar 2015

Waitrose founded in 1904 as a small grocery is now the fastest growing supermarket in the UK with about 201 supermarkets and still counting. It operates as a John Lewis subsidiary. Although it operates in a highly competitive industry it has managed to create a niche for itself and an enviable reputation. Its objective is to provide high quality, healthy fresh products at a reasonable and fair price.

Principles

Waitrose will not compromise its stand on quality, freshness of food and value which they are have built over the years. They are also recognised for their desire to act responsibly. Their concern for environmental consciousness is engraved in their culture. For Instance, when other supermarkets where shying away from implementing the bag for life Waitrose was went for it and became the first supermarket that introduced the shift from the regular polythene carrier bags to the reusable bags in 1997. This initiative has saved about 80million carrier bags a year. They will stock only 100% British pork.

Planning and Process

* To reduce CO2 emission by 20% by the year 2020

* Energy efficiency of all shops by 20%

* Divert 95% of waist from land fill 2013, already diverts 50%

* Opening of more stores in other to reach more customers

* Work on price competitiveness

Waitrose segments its market based on income and geographical location. Most of its supermarket is situated in the south. This evidently shows it is targeting the upscale market. This has allowed it to identify trends and life style characteristics in different location

Strategic Marketing and Marketing Strategy

Waitrose strategy is based on three objectives;

Partners are co owners and members of the enterprise. Making sure they get job satisfaction and fulfilment Waitrose aims to be an employer of distinction

Tools and techniques

SWOT Analysis

This is a tool that identifies the key issues from the business environment and the strategic capabilities of an organization that are likely to impact on strategic development. SWOT analysis will identify to which extent its strengths and weaknesses are capable of dealing with the changes that are taking place in the supermarket retail industry. The strength and weaknesses are considered the internal factors whilst the opportunities and threats will be considered as the external factors.

Strengths

· Excellent reputation for providing healthy quality products

· Fresh quality food from own farms

· Operates as part Of the John Lewis Partnership

· Specialist service

· Reliable and consistent

· Excellent brand

Weaknesses

· Few branches

· Market share is small

· Perceived as being expensive

· Depends on performance of its label

Opportunities

· Sales of mainstream products apart from food

· Acquisition of other retail supermarkets and partnerships e.g. Somerfield.

· Opening of more supermarkets

· Expansion on affordable healthy, quality food as this is the trend.

· Changing the perception of customers that Waitrose brand is expensive

Threats

· Premium brands e.g. Sainsbury's Taste the difference.

· Manufacturers trying to legally stop own supermarket own brands

· Recession - low customer morale