This report focuses on Watson Pharmacy's firm in Australia and its relationship marketing. Incentive speaking, advertisement, engagement of social media and endorsement are the tools for the acquisition strategy of Watson company. Program loyalty, dialogue, referrals are the factors that have discussed retention strategy. Proper usage tools such as Facebook, Linkedin, and Twitter are useful for the Watson store. Guardian store is the main rivalry for this company, and this report is also highlighted about retention and acquisition strategy.
Comparison as per products and processes are also provided in this chapter. The benefits of this strategy are appropriately analyzed and understand about the facilities that have provided through the Watson Company. Integrating data and mobile retention is the ways to improve the challenging areas of this Watson Company. It might help to increase the sale and profit margin of the company. Hence, a proper strategy to attract consumers and increase the growth of the business is the primary relationship strategy of this company.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Retention and acquisition strategy of Watson store
- Retention strategy and acquisition strategy of the competitors
- Comparison between the retail company and its competitor
- Discuss the benefits and drawbacks of retail's retention and acquisition strategy
- Recommendation
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This document examines the retention and acquisition strategies of Watson, a major retail company in Australia, and compares them to the strategies of its competitor, Guardian. The document aims to analyze the effectiveness of these strategies and provide recommendations for improvement.
- Retention and acquisition strategies of Watson
- Retention and acquisition strategies of Guardian
- Comparison of the strategies of both companies
- Benefits and drawbacks of each company's strategies
- Recommendations for improvement
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: Provides a brief overview of the company and its competitive landscape in the Australian market.
- Retention and acquisition strategy of Watson store: Examines the various strategies employed by Watson to attract and retain customers, including incentive speaking, advertisement, celebrity endorsement, and engagement in social media.
- Retention strategy and acquisition strategy of the competitors: Analyzes the strategies used by Guardian to acquire and retain customers, focusing on incentive speaking, advertisement, celebrity endorsement, and engagement in social media.
- Comparison between the retail company and its competitor: Compares and contrasts the strategies of Watson and Guardian based on a range of factors, including total outlets, social media presence, membership benefits, and exclusive products.
- Discuss the benefits and drawbacks of retail's retention and acquisition strategy: Explores the advantages and disadvantages of each company's retention and acquisition strategy.
Schlüsselwörter (Keywords)
This document focuses on the key themes of retention and acquisition strategies, customer loyalty, competitive advantage, and retail marketing in the Australian context. It examines the various approaches used by Watson and Guardian, including incentive speaking, advertisement, celebrity endorsement, social media engagement, and loyalty programs. Additionally, the document analyzes the benefits and drawbacks of each strategy, drawing comparisons between the two companies based on their market presence, social media activity, membership offerings, and exclusive product lines.
- Quote paper
- Moniruzzaman Kiron (Author), 2018, Benefits and Drawbacks of Retail’s Retention and Acquisition Strategy, Munich, GRIN Verlag, https://www.grin.com/document/505851
