Creating, Communicating, Capturing & Delivering Value at Hamleys: As we wind down to the last chapters in our text, we are covering the the 4 P’s which are the foundation of any marketing strategy- Product, Place, Price, Promotion. The best way to evaluate a 4 P strategy is to examine one that has proved to be successful for one retailer… Hamleys. The toy industry has had its challenges; we recently discussed Toys R Us closing their stores. There are several retailers selling the same item at a similar price, so what distinguishes one from the other? How does the retailer provide greater value for the consumer over their competitors? Toy retailers sell the same item, so how do they differentiate themselves from the competition? One retailer has managed to do so for over 250 years! As the world’s oldest and largest toy retailer, Hamley’s provides an excellent example of Product, Place, Price and Promotion strategies working together. For your marketing analysis assignment, view the video below and describe Hamley’s use of the 4 P’s in its marketing strategy which they use to differentiate themselves from the competition. Identify and discuss their product, place, price and promotion efforts- in other words how they create value, deliver value, capture value, and communicate value. After 250 years, they must be doing something right! Hamleys Retailing Experience https://www.youtube.com/watch?v=Ezp51uRwGIw&feature=youtu.be
Write-ups should be no more than 3-pages, single spaced, 12 pt font, 1 inch margins. Upload your write-up to the assignment dropbox on Canvas by the start of class. Have Fun!
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