Marketing Mix - Tk Maxx

BA (Hons) International Business[Type the company name]

4/29/20132013

T.K. Maxx - Marketing MixBA (Hons) International Business

T.K. Maxx - Marketing Mix

Contents

Company History/Background...................................................................................................1

Market Segmentation, Targeting and Positioning......................................................................2

Market Segmentation.............................................................................................................2

Targeting................................................................................................................................2

Positioning..............................................................................................................................3

Product.......................................................................................................................................4

Product Life Cycle.................................................................................................................4

Pricing........................................................................................................................................5

Internal & External Pricing Factors.......................................................................................5

Pricing differentiation to competition....................................................................................6

Place (Distribution)....................................................................................................................8

Channels of Distribution........................................................................................................8

Promotions...............................................................................................................................10

Advertising...........................................................................................................................10

Personal Selling....................................................................................................................14

Public Relations...................................................................................................................15

Conclusions & Recommendations...........................................................................................17

Conclusion............................................................................................................................17

Recommendations................................................................................................................19

Bibliography.............................................................................................................................20


Company History/Background

T.K. Maxx offers brand-name and designer goods at highly discounted prices in areas such as

men’s women’s and children’s apparel as well as various other things such as home products,

toys, body and bath cosmetics and footwear and accessories departments which are currently

being expanded (T.K. Maxx, 2013). The stores measure about 32,000 square feet, claiming to

have about 50,000 items in stock and receive about 10,000 new items a week. (Yahoo, 2013).

T.K. Maxx is chain owned by the American organisation TJX Companies Inc. which was

founded in 1976 and currently operates 983 stores.

Picture 1: A typical T.K. Maxx Store

If we look at the history of T.K. Maxx we need to start from 1919 when the New England

Trading Company was founded by brothers Morris and Max Feldberg in Boston

Massachusetts. In 1929, the Feldberg brothers opened their first retail store selling ladies

hosiery. Twenty years later the store had grown into a chain of women’s apparel stores. In

1956 Stanley and Sumner who were the next generation of Feldberg established a new

company called Zayre discount department, the first ever self-service discount department

store which provided convenience, selection and quality. It was then that Ben Cammarata, a

young talented merchant was offered the opportunity to build a new off-price chain. And so

in the 1976 TJ Maxx was born under Cammarata’s leadership. It experienced mass growth

and with that success, the company grew into the TJX Companies Inc. which is now a leading

off-price retailer in the United States and worldwide owning T.J. Maxx, T.K. Maxx, Home

Sense, Marshalls and Winners (TJX, 2013).


T.J. Maxx is a major American department store which expanded to Europe in 1994 with the

launch of T.K. Maxx in the UK and then in Ireland and furthermore to Germany in 2007 and

to Poland in 2009. The first European store opened in Bristol in England and so the name was

changed to avoid confusion with the British retail chain TJ Hughes. There are now 332 T.K.

Maxx stores across Europe, 100 of which have been opened in the last 4 years (TJX, 2013).

Market Segmentation, Targeting and Positioning

Market Segmentation

Market segmentation is defined as ‘the identification of individuals or organizations with

similar characteristics that have significant implications for the determination of marketing

strategy’ (Jobber and Fahy, 2009). Thus, it involves the division of a diverse market into a

number of submarkets that have common features. The marketer then decides which

segment(s) to target and how to position the product within the market. There are five

methods of market segmentation – Geographic, Demographic, Geodemographic,

Psychographic and Behavioural. Demographic segmentation is amongst the most popular

bases for segmenting customer groups. It divides the market into groups based on variables

such as age, gender, marital status, income and/or occupation. This is the most applicable

method of segmentation in regards to T.K. Maxx. As discount retailers, their products are

aimed directly at consumers with relatively low incomes with an interest in designer and

luxury goods (Tutor2u, 2012). Age and gender are also a factor; though all ages and genders

are targeted they are targeted separately through the various departments i.e. men’s, women’s

and children’s.

Targeting

Market targeting involves developing measures of segmentation attractiveness and selecting

target segments. There are four aspects of attractiveness to be considered. The segment must

be measurable i.e. be of substantial size and have good potential for growth, it must have

profitable projections, it must be accessible meaning there cannot be barriers to entry and

there must not be too much competition and finally it must be actionable i.e. there must be

potential channels of distribution as well as sufficient available finance. In order to target full

market coverage there are three types of marketing which can be used – undifferentiated

(mass) marketing, differentiated marketing or single segment concentration/concentrated

marketing.


T.K. Maxx uses differentiated marketing which involves ‘offering a range of different

products for the different customer segments’ (Harris, 2012). It combines the best attributes

of concentrated marketing which specialises in a niche market and undifferentiated marketing

which ignores different segment differences and tries to attract all segments with the same

offering (Marketing91, 2010). As the company uses demographic market segmentation we

can see how they make use of differentiated marketing by offering different goods for all

ages of men, women, and children. There is also a section within the men’s and women’s

clothing departments called ‘modbox’ which targets teenagers and young adults. As well as

clothes; home ware, accessories, toys and cosmetics are on sale, with each department

appealing to different customer segments. All departments are promoted in different ways to

reflect the interests of the targeted customers. This is done partly through the different

coloured signage and posters placed above each section.

Positioning

Positioning is determined by the customer. If the customer perceives T.K. Maxx’s product

offering to be overpriced or of poor quality then that is their position. In my opinion, T.K.

Maxx has a mixed yet overall good positioning. I find that despite T.K. Maxx’s thorough

advertising techniques, some people are still unaware of the T.K. Maxx process and as a

result assume that products are fake or of second-hand quality. I feel that this is because of

the small number of T.K. Maxx stores in Ireland. On the other hand however, as an associate

in the T.K. Maxx store in Arklow, Co. Wicklow I would say that this particular store has a

service differentiation. It offers excellent customer service which I would say is notably

better than other stores within the shopping centre.

It also has a location differentiation being situated in the Bridgewater Shopping Centre which

is a well-known Irish shopping centre. Not only is it located here it is also one of the biggest

stores in the centre. Then of course there is the matter of price differentiation whereby a huge

range of discounted brand-name goods are on sale. Ultimately, T.K. Maxx has selected its

desired position and is communicating their competitive advantages very effectively through

well-invested advertising. We can measure the positioning of T.K. Maxx from its worldwide

success and reputation as a leading discount retailer of excellent quality branded goods.


Product

Product Life Cycle

The product life cycle is a four-stage cycle in the life of a product. The four stages are

introduction, growth, maturity and decline and are illustrated as a curve. The PLC emphasises

the fact that nothing lasts forever (Jobber and Fahy, 2009). The graph below shows the PLC

curve.

Graph 1: The Product Life Cycle (Blogspot, 2010)

As a retailer, T.K. Maxx does not necessarily follow the PLC curve from inception to demise

but it does experience the maturity to decline process. The maturity stage is when peak sales

are experienced and the objective is to maximise profits. But what goes up must come down

and so the next stage is decline. Sales begin to decline along with profits. The objective now

is to decide whether to keep or drop the product.

T.K. Maxx receives deliveries daily. These goods are put onto the shop floor for sale at full

price. This would be the maturity stage that brings in high profits. If goods do not sell 6

weeks after being brought into the shop they are reduced and put into the ‘clearance’ section

and this begins the stage of decline. If they are still there after a further 3 weeks they are

reduced again. This process will then continue every 3 weeks until the item is sold. With

goods that continue to have poor sales and experience the declining stage T.K. Maxx will

reconsider distribution methods and phase out unprofitable outlets.


Pricing

Internal & External Pricing Factors

All marketing decisions, including price, contribute to achieving company goals. The final

price set for a product may be influenced by various different factors which can be

categorized into groups – internal and external factors.

Internal factors are factors which are caused by company actions and decisions. Thus, in

some ways these factors can be controlled by the company and even altered if necessary.

Making a quick change however, is not always a realistic option. There are four main

objectives that influence pricing decisions yet in most situations, only one will be followed.

The objectives are to attain a return on investment (ROI), improve cash flow, increase market

share, and maximize profits (KnowThis, 2010).

For T.K. Maxx the main objective is cash flow. They seek to set prices at a level that will

ensure that revenue from sales will cover purchasing costs as well as marketing costs. Every

T.K. Maxx store is given a daily sales target as well as weekly target and so the stores’ aim is

to ‘comp’ and reach that level of revenue. If the store reaches levels of sales above target this

is simply an added benefit which helps to maximise profits. Price is a key marketing mix

decision and since all marketing mix decisions must work together, the final price will be

impacted by other marketing mix decisions. As marketers selling high-quality discounted

products, T.K. Maxx prices their products in a range that will add to the perception of the

products being inexpensive products of good quality.

Furthermore, another starting point for setting prices is considering the costs of getting the

product to the customers. Obviously the price paid by customers must exceed these costs in

order to make a profit (KnowThis, 2010). T.K. Maxx must analyse all relevant costs needed

to get the product to the market. These costs would include marketing, distribution and

company administration. These costs are then categorised into two types of costs - fixed and

variable costs. Fixed costs or overhead costs are costs that are not affected by sales. For T.K.

Maxx these costs exist in the form of expenditure for carrying out an advertising campaign,

paying a server to host the company’s website and fielding a sales force as well as a team of

‘buyers’. T.K. Maxx must be committed to these costs, regardless of sales levels so that the

company will continue to run efficiently.

Variable costs are directly associated with product sales and so may change as levels of sales

change. These costs are typically evaluated on a ‘per-unit basis’ since the cost is associated


directly with individual items. Whereas applying fixed costs to individual products is less

straightforward (KnowThis, 2010). For T.K. Maxx the majority of variable costs involve

costs of items which are components of the product e.g. packaging and tagging. They are also

associated with the warehousing of the products e.g. electricity to support the warehousing

process.

External factors are influencing factors that are not controlled by T.K. Maxx but will still

impact pricing decisions. As a result, the company must conduct market research in each

market to be constantly aware of what is happening in each market served by the company.

This must be done continuously to monitor whether marketing decisions require adjustments.

If adjustments do need to be made T.K. Maxx ensures that they understand what affect a

change in price could have on the demand of the target market. This requires a firm

understanding of the economic concept of elasticity of demand which relates to the change in

the quantity of purchases as a result of a change in price. With elasticity it is assumed that

only price changes and all other things are ‘equal’.

Elasticity deals with three types of demand scenarios. These are elastic demand, inelastic

demand and unitary demand. T.K. deals mainly with elastic demand which means that ‘a

certain percentage change in price results in a larger and opposite percentage change in

demand’ (KnowThis, 2010). This means that if T.K. Maxx increases price this will lower

total revenue while decreasing price will increase total revenue. The most prominent external

factor that influences pricing is the expectations of customers. When customers make

purchasing decisions they assess the ‘overall value’ of the product rather than just the price

(KnowThis, 2010). Thus, when deciding on prices, T.K. Maxx must evaluate what ‘price

points’ are deemed acceptable by customers in terms of ‘overall value’ so as not to

discourage purchases.

Pricing differentiation to competition

T.K. Maxx essentially majors on price as their differential advantage. This requires massive

buying power and vigilant cost control. T.K. Maxx focuses on affordable prices for goods

which elsewhere, are a lot more expensive. They consider their consistently low prices to be

more favourable than higher prices supplemented by occasional promotions such as money-

off deals, three-for-two or buy one get one free. It is important for T.K. Maxx to satisfy the

needs and wants of their customers better than their competitors through this competitive

advantage. It can be difficult to do so however as brands which are sold in store are often


better known in brand name shops or even in other department stores. For example, most men

looking for a Ben Sherman shirt would be more inclined to go to a Ben Sherman shop rather

than T.K. Maxx. The same goes for sports brands such as Nike whose goods are purchased

mainly in sports shops. This is why T.K. Maxx must continue to highlight their discounted

prices and exceptional quality and variety.

In terms of the T.K. Maxx store in which I work, it has many competitors in the shopping

centre because of its wide variety of goods. As the shopping centre is not that big however I

would say that T.K. Maxx has a huge price advantage over the other stores as it offers the

same goods at cheaper prices. The fact that all the shops are extremely close to each other and

do not have many other competitors, many people would be inclined to get the goods in T.K.

Maxx. The availability of many different goods in one shop would also appeal because of

convenience. In addition to all this, T.K. Maxx uses psychological pricing on all full-price

goods. This is ‘the careful manipulation of the reference prices that consumers carry in their

heads’ (Jobber and Fahy, 2009). Consequently, the price of most goods ends in ‘.99’ because

the psychological difference between 2.99 and 3.00 is much greater than the actual

difference. Without realising, people find it easier to buy things priced psychologically and so

this too is a pricing advantage.


Place (Distribution)

Channels of Distribution

Distribution decisions involve how to deliver products to the consumer and where this should

take place. It includes all stages between the manufacturer and the final consumer. These are

referred to as the channel levels. Choosing a method of distribution depends on certain

factors such as company objectives, customer preferences, cost effectiveness, competitor’s

distribution strategy and market trends. The Channel of Distribution involved with T.K.

Maxx however differs to most other retail stores. Goods are purchased by T.K. Maxx

‘buyers’ through an opportunistic buying system. They can buy from a range of people – it

could be a retailer, a supplier, a wholesaler or even a manufacturer, anywhere they can get

excess, discounted and unwanted branded stock.

In order to bring in consistently new products and ranges TJX have developed a ‘highly

sophisticated’ and unique approach to logistics, distribution and warehousing. This involves

very short supply chains with distribution services from four Processing Centres located in

Wakefield, Stoke and Walsall in the UK and Bergheim in Germany.

Picture 2: T.K. Maxx Processing Centre

Merchandise bought by the ‘buyers’ are received in these centres and undergo a series of

processes to be made ready for sale in store. Individual orders are then dispatched to a series

of Logistics Centres and Cross-Docking Centres, allowing for regular delivery to T.K. Maxx

(T.K. Maxx, 2013). T.K. Maxx runs their own delivery service exclusively for the speedy

delivery of goods to T.K. Maxx Stores.


Picture 3: T.K. Maxx’s ‘super model’ delivery truck

Intensive distribution is involved in the TJX distribution process as they have hundreds of

different distributors from which their buyers buy from. Intensive distribution allows the

principle that ‘more is better’ meaning manufacturers should maximise the amount of

companies they distribute to, a principle that strongly agrees with the T.K. Maxx formation.

T.K. Maxx are also taking part in some recent trends in distribution such as longer opening

hours (on Thursdays and Fridays), Sunday trading and speed of delivery service. These trends

are increasing market share but at the expense of independent retailers who are falling

behind.


Promotions

Advertising

Advertising is ‘any paid form of presentation and promotion of ideas, products or services by

a company or organisation’ (Harris, 2013). T.K. Maxx is renowned for their extensive

advertising campaigns. They fund advertising extremely well and rely heavily on television

adverts. T.K. Maxx’s latest ad campaign is the Spring/Summer 2013 TV advert. The first step

in developing this ad was to identify the target audience. Using differentiated marketing T.K.

Maxx highlights the diversity of target markets through the use of the strapline ‘Do Your

Thing’ which encourages all people to celebrate their individuality through fashion trends.

Catrina Funk, TK Maxx creative director, says “Our spring/summer TV campaign is a

celebration of each and every one of us. From old to young, TK Maxx loves the fact that

everyone is different with their own individual style- they walk and dance to their own

unique beat” (Marketing Week, 2013).

Next they must determine the response sought, which of course is for everyone to be inspired

by T.K. Maxx to accentuate your own personal style and individuality. An important step

then was to select the right message. In this case, the message content focuses mainly on

emotional appeal in the sense that it draws on people to embrace their individual style which

people can sometimes shy away from because of the fashion ‘norms’ of society. It also

focuses on the positive which is the price. The voiceover states ‘Love your style, respect your

money’, encouraging people to enjoy the ‘latest fashion trends’ at ‘up to 60%’ off RRP.

Essentially, T.K. Maxx is trying to shed its perception as a cheap clothing retailer by focusing

more on current fashion trends (Marketing Week, 2013).

The correct media must then be selected. Because of little to no budget constraints when it

comes to advertising, T.K. Maxx could use the most effective form of advertising for an

almost worldwide company which is television advertising. This provides visuals as well as

sounds and can reach a very large and diverse market. Then they chose a message source.

The person delivering the communication can be crucial to the effectiveness of the campaign.

This ad features a diverse range of people dancing to an upbeat song by Irish-English singer-

songwriter and rapper Maverick Sabre which he exclusively created for T.K. Maxx’s

spring/summer campaign. This in itself is extremely effective as it creates a celebrity source

which appeals to many consumers. A voiceover then cuts in in a relaxing voice with a hint of

a Jamaican accent with the ‘Love your style, respect your money’ slogan. The ad is then


concluded by a cool and crisp female British accent briefly explaining the ‘always up to 60%’

promise.

This ad can be seen at:

http://www.youtube.com/watch?feature=player_embedded&v=GTORgRsjpeY.

Below are some screen shots from the ad which show the range of styles used with all age

groups and genders as well as the use of bright colours to give a summer vibe.

Picture 4: Young male dancing

http://www.youtube.com/watch?feature=player_embedded&v=GTORgRsjpeY


Picture 5: Young Women dancing on the beach

Picture 6: Elderly couple dancing happily together


Picture 7: Young Male with dog


Below these is another screenshot which is from their 2012 winter ad campaign which again

was extremely well done and shows the focus on seasonal advertisements

Picture 8: Happy family at Christmas time

Personal Selling

Personal Selling is seen as ‘a communications tool which involves face to face activities to

inform/persuade a customer to purchase a product/service’ (Harris, 2013). The key to

personal selling is that the message is personal. Therefore the message can be adjusted to

meet the needs of a specific customer. It is extremely effective in retailing as there is direct

interaction with the customers. T.K. Maxx do not operate under a personal selling strategy

per say but instead, as mentioned already in the positioning section, has excellent customer

service and are extremely customer orientated. This is especially apparent in the store in

which I work which was awarded a customer service award this year. This is the first year the

award has been given out and I feel this will act as an incentive to encourage more effective

personal selling.

In T.K. Maxx personal selling is used when requested on the shop floor and at the check outs.

The associates on the shop floor are always available to offer guidance, assistance and

recommendations. The same goes for the associates at the registers who are extremely

friendly and informing. The effectiveness of T.K. Maxx’s customer service can be measured

from an online survey offered to customers with their receipt. The survey gives the customer

the opportunity to give feedback about the associates and also enters the customer into a draw

giving them a chance to win €1,000. Overall, the majority of feedback is always positive and


personally, I have never heard of negative feedback regarding any of the members of staff

that I work with.

Public Relations

Public relations (PR) were introduced by Eddie Bernays following World War II. PR

‘attempts to establish and maintain good will between a company and its publics’ (Harris,

2013). These publics may be internal in the form of employees and shareholders or external

in the form of the media, suppliers, customers and interest groups. Public relations are now a

vital cog of all enterprise in the modern world. Public relations have multi-purpose functions

including enhancing the reputation of the company in the public, providing vital links to other

businesses and can be an important tool to develop and expand contacts both in the

commercial and public worlds.

TK Maxx uses public relations extremely well in forming a real connection with their target

market. The importance of this is invaluable as it provides the customer with a sense that the

products and services provided by T.K. Maxx are something that they need in their lives.

Other advantages of public relations are that the image of the company is upgraded and the

cost of public relations is also a benefit given that it is free and so a potential increase in

customer base should be realised (Mahony, 2013).

The key to effective public relations is to develop excellent media relationships for both the

coverage of positive news stories as well as for crisis management which will create damage

limitations. For example, in the store in Arklow the local media covers various charity work

done by T.K. Maxx in the local area. Below is a photo of some of my fellow staff members

showing their support for Mark Dickens, a survivor of the Manx 2 airplane crash who cycled

from Belfast to Cork following the same route as the plane. T.K. Maxx sponsored Mark and

his partner’s cycle, helping them raise funds for the Children’s Leukaemia Association.


Picture 9: T.K. Maxx staff Arklow, Co. Wicklow

On the other hand, in previous years T.K. Maxx in Bridgewater had come under scrutiny in

relation to an increased number of thefts in-store. The shop was criticised for having poor

levels of security yet because of their good relationship with the local media, little was

published regarding the incident. As a result, many customers new nothing about this and so

their views regarding the store were not affected.


Conclusions & Recommendations

Conclusion

In conclusion, I found it very interesting learning more about the company I work with.

Methods and strategies used in my job now make more sense to me as I had simply accepted

them as chores and never questioned the purpose behind them. As well as some research,

even putting more detailed thought into my day-to-day job revealed information which was

applicable to this project and so the biggest thing for me was realising how much I already

knew about T.K. Maxx’s marketing strategy without even realising it. The first thing I learnt

a lot about was the history of the company. Prior to this the only thing I knew was that T.K.

Maxx was somehow connected with T.J. Maxx. I found it interesting to learn so much about

the background of a company, especially one in which I work in.

In relation to market segmentation I enjoyed analysing the ways in which T.K. Maxx

segments the market as before I had not put much thought into the matter. The way in which

T.K. Maxx uses demographic segmentation made a lot of sense to me once I put some

thought into it. This was the same for their use of differentiated market targeting. Positioning

again was something I could analyse myself and by doing so actually taught myself more

about T.K. Maxx’s methods.

With the product life cycle it took me a while to think about how I could apply it to T.K.

Maxx. It was hard to research this and so I made use of just two stages of the PLC as best I

could. Again, it was an eye opener when I finally thought of how to apply it yet I feel as

though it is lacking in information so I would say this was the section I struggled with the

most. On the other hand, on the pricing section I had too much information to give. For

internal and external pricing factors I did further research and discovered how these factors

affect T.K. Maxx’s price setting. I found that T.K. Maxx were influenced more so by internal

factors. Prices are set by Head Office and so the individual stores have no say in price setting

but from my knowledge, they are extremely focused on covering costs and then maximising

profits.

Pricing differentiation is a huge thing for T.K. Maxx considering it deals with discounted

brand-name goods. I found this very easy to apply to the store that I work by analysing

various competitors within the shopping centre. Overall I feel that they have quite a big

advantage over competitors both in the shopping centre and in all stores. For the distribution

section I again struggled slightly with the channels of distribution. T.K. Maxx does not


follow a traditional channel and so I was unsure how to go about this section. I did however

do some research and did learn about processing centres. I had always wondered how the

process worked but had never actually questioned.

The final part was the promotions section. I enjoyed this part of the project the most. I did not

learn much new information but it is one of my favourite aspects of T.K. Maxx and despite

not learning new information, I realised how much I like T.K. Maxx’s methods of

promotions. Their advertising campaigns were particularly appealing and I came to the

realisation that I would enjoy working in this area of T.K. Maxx, or even just this area of

business. I decided to go into detail about the current spring/summer campaign as I would say

it is one of their best ads to date, as well as one of the best ads around at the moment. I

admired the way in which the ad has the full ability to appeal to every market which is

essentially what T.K. Maxx aims to do and I felt that this ad conveyed this extremely well. I

have also noticed that T.K. Maxx’s ads always use songs that are not very famous but are

very good songs which again can be enjoyed by nearly everyone. I felt also that the ads

always convey a strong feeling of joy and happiness that is able to captivate people. These

types of ads that have an effect on people are the types of ads that I would love to be involved

with.

For personal selling and public relations I could again use T.K. Maxx in Arklow to use more

detailed, personal information. This made me realise that T.K. Maxx has a very good image

in Arklow and is extremely committed to its customers. Something I notice a lot since I

started working in T.K. Maxx is that customer service in T.K. Maxx in comparison to a lot of

other Irish stores is very friendly and helpful. I often have encounters with rude members of

staff in big chains such as Dunnes, Tesco, and Penneys and always find myself outraged

when I compare to how friendly I try to be when I am in work and also about how our

managers would not condone that level of rudeness.

Overall, I really enjoyed doing this assignment. I would recommend that everyone should put

some research into their place of work as I found it extremely interesting and a huge learning

experience. I feel that in some ways I had a slight advantage over those in my class who did

not enjoy doing it as much and possibly did not achieve the same type of learning and

realisation I gained from doing this assignment.


Recommendations

After learning more about T.K. Maxx, despite them being extremely successful and efficient,

there are some areas in which I personally think some improvements could be made. A small

thing that the company could possibly do is to provide the associates with information

regarding the history of the company. It would not have to be a compulsory part of the

associate’s job it would simply be an option for the associate to read up about the company’s

history. Thus, I would recommend that associates be given a hand out about the company

background.

I also think it would be a good idea for associates to be more informed about T.K. Maxx’s

distribution process as it is huge factor of T.K. Maxx as well as the ‘buying’ process. This

would also help with personal selling as associates would be able to further inform customers

about the store and how things work. As far as promotions go, T.K. Maxx goes about this

extremely well yet locally in Arklow I feel that some people are not that well informed about

T.K. Maxx. Thus, I would recommend the Arklow store to request permission from Head

Office to increase promotions in the local area.

Furthermore, in terms of the shop itself, something which I find customers often have a

problem with is the miscellaneous lay out of the store. There is however a structure to the

layout and so instead of changing the layout of the store as this is the charm of T.K. Maxx,

they could simply use more signs to explain the lay out and how to locate things that people

are looking for. In my opinion this would actually increase sales thus improving cash flow

and maximising profits.

Overall however, I feel that T.K. Maxx are doing an extremely good job at being a unique

type of retailer who can provide something for everyone. I feel that if they continue with their

brilliant advertising they will remain profitable for a very long time.


Bibliography

Blogspot (9th March 2011) ‘the five stages of the product life cycle’ [Online] Available: http://mgt2413.blogspot.ie/2011/03/five-stages-of-product-life-cycle.html [Accessed 2nd May 2013]

Harris, D.H., 2013. Advertising. Marketing Mix [Class Notes]

Harris, D.H., 2013. Personal Selling. Marketing Mix [Class Notes]

Harris, D.H., 2013. Public Relations. Marketing Mix [Class Notes]

Harris, D.H., 2012. Market Segmentation. Introduction to Marketing [Class Notes]

Jobber and Fahy, D.J. & J.F., 2009. Foundations of Marketing. 3rd ed. Berkshire: McGraw-Hill Education

KnowThis (2010) ‘External Factors: Customer Expectations’ [Online] Available: http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/external-factors-competitive-and-related-products/ [Accessed 14th March 2013]

KnowThis (2010) ‘External Factors: Elasticity of Demand’ [Online] Available: http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/external-factors-elasticity-of-demand/ [Accessed 14th March 2013]

KnowThis (2010) ‘Internal Factors: Costs’ [Online] Available: http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/internal-factors-costs/ [Accessed 14th March 2013)

KnowThis (2010) ‘Internal Factors: Marketing Objectives’ [Online] Available: http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/internal-factors-marketing-objectives/ [Accessed 14th March, 2013]

Mahony, C.M., 2013. The development of Public Relations. The Public Relations Journal, 5, 18.

Marketing Week (25th March 2013) [Online] Available: http://www.marketingweek.co.uk/news/tk-maxx-highlights-fashion-and-style/4006091.article [Accessed 16th April 2013]

Marketing91 (2010) ‘Differentiated Marketing’ [Online] Available: http://www.marketing91.com/differentiated-marketing/ [Accessed 9th March 2013]

TJX (2013) ‘Our Businesses’ [Online] Available: http://www.tjx.com/businesses_tkmaxx.asp

[Accessed 7th March 2013]

TJX (2013) ‘Our History’ [Online] Available: http://www.tjx.com/about_history.asp

[Accessed 7th March 2013]

T.K. Maxx (2013) ‘Distribution Centres’ [Online] Available:

http://www.tkmaxx.com/content/ebiz/tkmaxx/resources/careers/working-for-tjx/distrubution-

centres/index.htm [Accessed 19th March 2013]

http://www.tkmaxx.com/content/ebiz/tkmaxx/resources/careers/working-for-tjx/distrubution-centres/index.htm

http://www.tkmaxx.com/content/ebiz/tkmaxx/resources/careers/working-for-tjx/distrubution-centres/index.htm

http://www.tjx.com/about_history.asp

http://www.tjx.com/businesses_tkmaxx.asp

http://www.marketing91.com/differentiated-marketing/

http://www.marketingweek.co.uk/news/tk-maxx-highlights-fashion-and-style/4006091.article

http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/internal-factors-marketing-objectives/

http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/internal-factors-marketing-objectives/

http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/internal-factors-costs/

http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/internal-factors-costs/

http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/external-factors-elasticity-of-demand/

http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/external-factors-elasticity-of-demand/

http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/external-factors-competitive-and-related-products/

http://www.knowthis.com/principles-of-marketing-tutorials/pricing-decisions/external-factors-competitive-and-related-products/

http://mgt2413.blogspot.ie/2011/03/five-stages-of-product-life-cycle.html


T.K. Maxx (2013) ‘How we do it’ [Online] Available:

http://www.tkmaxx.com/page/howwedoit [Accessed 7th March 2013]

Tutor2u (23rd Sep 2012) ‘Market Segmentation – Demographics’ [Online] Available:

http://www.tutor2u.net/business/marketing/segmentation_bases_demographic.asp [Accessed

9th March 2013]

Yahoo (2013) ‘Industry Center >> T.K. Maxx Company Profile’ [Online] Available:

http://biz.yahoo.com/ic/133/133845.html [Accessed 7th March 2013]

http://biz.yahoo.com/ic/133/133845.html

http://www.tutor2u.net/business/marketing/segmentation_bases_demographic.asp

http://www.tkmaxx.com/page/howwedoit

Documents

Marketing Mix - Tk Maxx