Toys R Us Marketing Mix
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Marketing mix is a composite of product, place, price, and promotion, also referred to as ôthe four PÆs.ö Each of these elements is an important factor in a companyÆs marketing strategy. ôProductö is the companyÆs products, with all of the attributes that make them uniqueùdesign, packaging, functionality, and virtually everything pertaining to how a product looks and what it does. The companyÆs brand name is included in the product category and can become synonymous with the product, as in the case of Coca-Cola. ôPlaceö is where the product can be found, such as in physical stores and online in virtual stores; it includes everything connected with getting the product from the place to the customer, as well, such as warehousing, inventory management, transport, and distribution. ôPriceö includes all price-related factors, such as both the retail and wholesale pricing, coupons associated with the sale of the product, volume discounts, and any other costs which must be factored into the price, like the cost of fuel for transportation. ôPromotionö is everything related to promoting the productùpromotional strategy, publicity, advertising, modes of selling (personal selling, sales force, Internet selling, etc.), and the restrictions on the promotional strategyùbudget, legal constraints, and corporate directives (ôThe Marketing Mixö).Toys ôRö Us is a for-profit organization that has implemented a winning marketing mix within its marketing strategy.
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sical stores (Tapper).
Products at Toys ôRö Us are always being expanded, and the toy superstore has now branched out and added another arm of the businessùBabies ôRö Usùwhich is co-branded with Amazon.com to sell on their web site (ôBabies ôRö Usö). There are now 218 Babies ôRö Us stores of the 698 total Toys ôRö Us stores, making the marketing mix heavily slanted toward babies (ôBabies ôRö Usö). In addition, there is Books ôRö Us, a bookstore within Toys ôRö Us that stocks 1,200 titles (Leckey 1995 1). Other store-in-stores are the Barbie Shop, the Lego Shop, Parties ôRö Us, and a Little Tikes shop where children can play on large castles, playhouses, and slides (Leckey 1995 1).
Promotion is something that Toys ôRö Us is good at, even though the brand name alone is enough to draw customers; they know that they are likely to find virtually whatever they want there. Toys ôRö Us offers coupons, puts out newspaper inserts, has sales, conducts in-store promotions, and generally knows how to toot its own horn. Since in many cases, Toys ôRö Us is the only store in an area that has enough of a hot item to supply the majority of customers, many customers are simply in the habit of looking there first.
Price is a part of the Toys ôRö
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Some common words found in the essay are:
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Approximate Word count = 1252
Approximate Pages = 5 (250 words per page)
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