Price and promotion will be “key” to Superdrug’s marketing plans over the next year, with a focus on own brand products and improving its loyalty proposition.
While many beauty retailers focus on the premium end of the market, high street staple Superdrug has always been more value-focused . In 2010, for example, the retailer launched its then-£1 cosmetics line MUA.
Marketers have long lost sight of the fourth P of the marketing mix, but they will need to reassert control over pricing if their brands are to stand up to the pressures of inflation.
For a repositioning to succeed, it’s crucial to take the project “out of the marketing bubble” and engage the wider business, says Boots CMO Pete Markey.
With 91% of the population concerned about the rising cost of living many are already adapting their behaviour to save money, including choosing cheaper brands and cutting back on luxuries.
Motor retailer Halfords has introduced dynamic pricing in its services business to drive profitability by directing demand to its under-utilised autocentres.
The Competition and Markets Authority will probe the extent price promotions are only available to people who sign up for loyalty cards.
The broadcaster’s CMO Penny Brough exclusively tells Marketing Week the inside story about why it felt the need to make the change to U, the research that underpinned it and what it hopes it will achieve.
Marketing Week is proud to name HSBC’s Ucheora Obi-Wheeler as one of our inaugural Future Marketing Leaders, sponsored by Digitas.
