Free «Wegmans Marketing Concepts» Essay Sample
Wegmans Food Markets, Inc., a major player in the regional supermarket chain business, has as its target market consumers who are busy and time conscious, mindful of price and quality, but with high food and health interests. These are working men and women, both with and without children, in the 18 to 60 age group. Their clients live in and around the city, and as such, Wegman stores are conveniently located close to their market. Their customers range from the standard middle class to the upper middle class, a large part of which are parents who are quite conscious about eclectic tastes where convenience and quality goods are musts. As such, their stores merge both market schemes and typical supermarket designs. Their target consumers are both time and health conscious customers. Their customers require high quality goods and services, hassle-free shopping at the competitive prices.
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Marketing mix employed by Wegmans is quite distinctive that has enabled the company to reach their target market and keep them. It has effectively created a unique mix of product, promotion, price and place. As its clients are very discerning when it comes to the quality of the goods they consume, Wegmans only offers high quality products and services in all their stores. They have very strict quality assurance practices to ensure that the goods they sell are only of the highest quality. They are not only continually checking on the product quality, but also on product safety. They also have brand specialists who untiringly work with their consumers and designers to continually improve their products and services. Due to the wide range of products their clients look for, Wegmans has also stocked its stores with products that range from organic to gourmet aside from the regular supermarket items.
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Consumers who have never shopped at Wegmans are quite amazed that they actually offer low and competitive prices, despite the high quality of goods and services, excellent customer service it offers, as well as the inviting ambience and grand premises of their stores. Wegmans adheres to the philosophy of the real cost for every grocery product. Due to the volume of products they buy and the non-stop promotions they employ, they are able to consistently lower the cost to everyday costs. Wegmans has ensured that all its stores are conveniently located for easy accessibility by its consumers. Wegmans currently has 79 stores in the East. They have 47 stores in New York, 14 in Pennsylvania, 7 in New Jersey, 6 in Virginia, 4 in Maryland and 1 in Massachusetts. Wegmans has also strategically and deliberately displayed the huge variety of goods they carry, to make it easy for their customers to find. Aside from supermarket goods, gourmet, standard fare and organic produce, Wegmans also offers other goods and services - a bookstore, pharmacy, bakery, patisserie, deli, restaurants and cafes, digital photo center, complements department, floral and gift shop, bath and body shop, video rental as well as a Wkids Fun Center. They ensure that goods and services are easily accessible to their on-the-go clients, as well as to ensure one-stop shopping.
Wegmans also relies heavily on the promotions variable of the marketing mix. They employ traditional advertising elements, such as television and radio ads, as well as flyers. They have their own magazine, Menu. They have created their own website which also offers on-line shopping. Terrific personalized customer service forms the bulk of their personal selling which has created customer’s loyalty and brought in new customers through the word-of mouth endorsements by their loyal clients. Wegmans has also made use of public relations through its community service and community building programs. Wegmans depends heavily on sales promotions. They have the Shopper’s Club card which allows members additional savings through electronic coupons/discounts, rebates and other privileges. Wegmans also has continuous weekly specials, both in-store and on-line. They heavily employ the use of end cap displays and shelf talkers/screamers which have successfully enticed clients to make a purchase. Wegmans makes use of demonstrations/classes, consumer contests and in-store sampling to further promote their products and induced many a sale.