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4.2.2 Disadvantages of the marketing strategies ofWatsons’ store brand.22
Chapter Five Conclusion26
5.1 Major findings26
5.2 Limations27
References28
Appendix30
Chapter One Introduction1.1 General Statement of the PaperWatsons is a leading health and beauty retailer in Asia, currently operating morethan 4,800 stores and 1,400 pharmacies in 11 Asian and European markets. For manyyears, Watsons is famous for its high quality and brave innovation. Aligned with itsphilosophy of bringing more to customers’ lives, Watsons inspires and enables everyone of its customers to look good and feel great so they can enjoy life to the fullest.Looking Good, Feeling Great, Having Fun is what Watsons has been pursuing.Nowadays with the further opening of economy, the competition in the market ismore fierce. The management patterns of domestic retail enterprises are becomingincreasingly homogeneous. What’s worse, enterprises are earning less and are trappedin a dilemma.
This situation is in need of changing. Therefore, seeking for a newdevelopment model has become the breaking point. Watsons has survived in thissituation by virtue of its store brands. On the basis of its good reputation, its price,20% to 40% lower than that of other brands, is the main advantage of Watsons’ storebrands.This thesis will take Watsons as an example. 4P marketing strategies are widelyused both abroad and at home. It is clearly pided into four parts, namely, product strategy, price strategy, place strategy and promotion strategy. What’ more, eachmarketing strategy consists of some marketing tactics. Marketing strategies ofWatsons’ store brand will be thoroughly studied by using 4P marketing strategies. Aquestionnaire has been designed in terms of product, price, place and promotion. Twohundred questionnaires will be given to college students on wechat and QQ. It’shoped that some feasible strategies will be found out through the research conductedand thorough analysis. Advice will be given to other retailers struggling in the fiercecompetition.1.2 Research Significancestore brand, first came into being in 1880s, has been developing over a centurynow. In western countries, the theoretical study and application of store brands aremature. Sales of store brand contributes a lot to the development and prosperity ofWalmart, the largest retail enterprise in the world.
There is no denying that store brandplays an important role in western countries.Watsons, Asia’s leading health and beauty retailer, currently operates over 4,800stores and more than 1,400 pharmacies in 11Asian and European markets. store brandis a powerful weapon which enables Watsons to survive in the fierce marketcompetition. For Watsons, store brand is not only important, but also indispensable. Inthe long term, store brand is an effective way to produce products without requiring alarge manufacturing or design team.However, in our country, we still lack both theoretical study and actual application of store brand. Therefore, store brand in our country has just embarked onits journey. This study looks into the marketing strategies of Watsons in terms ofproduct, price, place and promotion. It is hoped that the results of this study willprovide valuable advice for other retail enterprises to develop their store brand.1.3 Overall Structure of the PaperThe paper is pided into five chapters. Chapter one is an introduction, includingthe general statement of the paper, the objectives and the practical significance of thestudy. Chapter two is a literature review, which consists of the predecessors’ studies ofstore brand and marketing strategies of Watsons’ store brand. Also, it explains 4Pmarketing strategies, on which this paper is based, namely, product strategies, pricestrategies, place strategies and promotion strategies, in detail. Chapter threeintroduces methodology. It includes research questions, research subjects, researchinstruments and research procedure. Chapter four talks about the marketing strategiesof Watsons’ store brand as well as its implications. The last chapter summarizes themajor findings as well as the limitations of the paper.