Marketing Strategy of Argos
Marketing Strategy of Argos
Argos is an popular and maybe one of the biggest retailers based in the UK and Ireland. In this article, we will analyze its marketing strategy.
‘Single-minded’ Digital Marketing Strategy
In 2016, it was acquired by Sainsbury’s. So sometimes you can see Argos located in the big Sainsbury’s. This is one of the reasons why Argos is attractive for customers.
Digital Marketing is the major trend in these years. In contrast, the advertisement on paper became less important. Not exception of Argos, it also applied the digital strategy for building online customer loyalty.
Besides, we can noticed the brands, including Sainsbury’s, Argos, and Tu Clothing, are belonged to a single agency. This ‘single-minded’ marketing strategy could aggregate the customer data for building a better performance.
In the technology era, creating a data pool is efficient for the business. Thus, more brands are trying to partner with others or practice M&A strategy for establishing a bigger data. Because the big data can tell the company how to manage the supply chain better and what to provide to the customers. In these days, many businesses are ambitious to build a larger business empire.
4Ps Marketing Mix analysis of Argos
4Ps is a way to analyse the company’s customers and marketing strategy.
Argos utilized the catalogue to show its diversified products. Followed by trends currently, it updated their products and expand the product category too.
Thus, Argos does not have a clearly segmentation and a concentrated market. And it has a wide range of products. However, too broad choices for consumers could be a downside. Because they might not know how to choose.
Argos focused on low-pricing strategy. Thus, it established good relationship with the suppliers to get the good price. Besides, the price in the UK and Ireland might be different.
Generally, Argos has a balanced segmentation marketing strategy. And this can attract most household no matter rich or poor. However, Argos has focused more on ‘more affluent’ customers later. It offered more high quality products. Then, the improved strategy has profited the company.
Argos located mostly in the UK and it is the market leader in the industry. Besides, the multichannel retailing, in-store and online shops, is an advantage for Argos.
We have the suggestion for Argos to expand its business internationally. This might improve its price and place strategy by partnering with more countries. Because of its close relationship with suppliers, it would be beneficial if the business could expand its supply chain and market.
Argos relies a on multichannel promotions, including online and offline advertising campaigns. Especially it focus on online buyers recently because of the improvement of technology. Also, the word of mouth caused by low price is important.
To sum up, the Argos’ success might due to its wide category products in the beginning. Yet, the focus on digital channel and expand its customers make it better.
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