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Introduction
Successful promotion is one of the keys to the enormous success enjoyed by TJX Company. The company has managed to develop and realize the promotional strategies that differentiate its stores from the stores of other companies and constantly increase the number of customers.
Promotion
The main promotional objectives of TJX Company include creating the brand image that reflects the company’s determination to selling high-quality products for exceptionally reasonable prices. Therefore, the company relies on the concept of moderate pricing combined with great quality while promoting its stores. TJX Company has used the theme of effective shopping based on buying fashionable name-brand items without spending a significant amount of money as the basis for most of its advertising campaigns.
The company uses various methods of promotion, such as the declaration of organizational culture aimed at maintaining a family-like atmosphere in the stores, advertising, including internet advertising, television commercials, media ads, banner ads, etc., direct marketing, including catalogs and coupons, and corporate philanthropy (e.g. The TJX Foundation in the U.S. provides funding for programs aimed at providing services to disadvantaged children, women, and families) (The TJX Foundation in the U.S., n.d.). The mentioned elements of the company’s promotion strategy form the basis of the effective use of integrated marketing communications (IMC) by the company. IMC is very important to TJX Company, as it has helped it to build strong positive brand perception, attract an extensive number of returning customers, and deliver the message revealing the main advantages of the company as compared to the competitors to the wide publicity.
Competitive Advantage in Promotion
One of the main distinctive features used by the company to gain a competitive advantage in promotion is using the strategy of selling new instead of putting the old items at a discount. TJX uses the fast-fashion concept based on the provision of constant quick turnovers of the products sold in the stores. Instead of promoting the sales enabling the customers to buy old items for a smaller price, the company is determined to selling new items for the lowest possible price (Kowitt, 2014). Such a strategy contributes to customers’ satisfaction as they feel they keep up to the latest collection constantly. Therefore, the promotion of the brand image based on fast-fashion retailing gives a competitive advantage to the company.
Another distinctive strategy illustrating the company’s competitive advantage in promotion is hiding the “treasuries” deep inside the stores. Instead of using such type of promotion as putting the most amazing and cost-effective product offers at the shop window or promoting them with the help of a massive marketing campaign, TJX hides the treasuries of its new arrivals in the stores (Kowitt, 2014). Such a strategy creates the unique experience received by the customers visiting the company’s stores, as the person that manages to find the gem feels like he/she gets something unique and not available for others.
Other specifics of company’s strategy of creating competitive advantage in the promotion include personal selling supported by individual gift cards, coupons, and individualized cards, strong differentiation between the brands operated by TJX, and usage of a good reputation of the company in the native country for promotional purposes during the expansion to foreign markets.
The analysis of the promotional strategies used by TJX Company reveals that the company uses a special approach to promotion including the creation of a distinctive brand image based on the combination of quality with attractive pricing and provision of unique shopping experience.
References
Kowitt, B. (2014). Is T.J. Maxx the best retail store in the land? Web.
The TJX Foundation in the U.S. (n.d.). Web.
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