Marketing Strategy and SWOT Analysis of Kohl’s
Fashion fans must be familiar with the brand Kohls. It is a famous American brand. Kohl’s Corporation has been a retail shop for almost 50 years. It operates 1,160 department shops in 49 of the 50 states in the United States. Furniture, bedding, mattresses, gadgets, and small appliances are all available. This blog will present a brief history of Kohl’s.
Vision and Mission Statements of Kohls
Kohl’s aims to be the foremost family-focused, value-oriented speciality department store, providing customers with excellent exclusive and national brand items in a convenient, pleasant, and engaging atmosphere.
When one walks into any Kohl’s store, one of their more than 140,000 Associates is always ready to assist and identify the greatest goods for their customers. Customers are a source of inspiration, and their demands are a priority. They tackle things with a “yes, we can” attitude, which clients like. The company’s culture instils honesty, teamwork, involvement, and accountability. Kohl’s is an affirmative action employer. It does not discriminate based on gender, colour, religion, or age. It is a just and equal working environment. The firm values its employees and gives several advantages, such as healthcare insurance, to meet their fundamental necessities.
Vision statement
The business vision statement of Kohl’s is, “We not only offer the best merchandise at the best prices, but we’re always working to make your shopping experience enjoyable.”
Kohl’s has implemented a consolidated check-out system. Kohl’s has exceptionally customer-friendly practices at the centre of every decision, and their comfort and convenience are most important. Customers may also purchase online and pick up their goods in-store, which will be ready when they arrive.
Positioning strategy of Kohl’s
Let’s look at one of their recent Instagram posts.
For millennia, mermaids have personified our deep-sea imaginations. This fabled female figure, half-fish and half-woman, is well-known worldwide.
The colourful and gloomy truths and clichés of women this feminine marine monster shows may justify the youth’s infatuation with it – a split personality that exhibits vulnerability and resilience.
Regarding back-to-school shopping, Kohl’s wants to ensure that every child feels represented and included. Since 2019, Kohl’s has been a pioneer in providing adaptable clothing for children with intelligently designed features like abdominal access, sensory-friendly and wheelchair-friendly alternatives. This year’s adopted kids collection expands with new designs that kids with disabilities may wear to feel trendy, on-trend, and confident as they begin a new school year.
After months of anticipation, the Little Mermaid revival, featuring Halle Bailey as the eponymous mermaid, has finally arrived in theatres. Just in time for summer, the latest live-action remake of a classic Disney animated picture provides a compelling escapist fantasy on TV and in our closets.
In the run-up to the film’s premiere, “mermaid-core” became a popular trend, with shopping roundups, resort season runways, and social media postings all begging for scalloped hems, ruffled skirts, and aquatic-inspired accessories.
Apart from the feminist perspective, it’s easy to see the reason behind coveting mermaids since their existence is so magical and beautiful, and they get to spend time at the beach!
These arguments lead us to the conclusion that the Everyman is the archetype to which Kohls belongs.
- The archetype yearns for interpersonal connections.
- The archetype tries to connect with people and blend in.
- The archetype’s strategy is to generate universal, meaningful ideals that are characteristic of themselves to fit in.
The message levels of the Everyman archetype are as follows:
When you feel separated and alienated, the archetype tells you to take action.
Because Everyman feels alienated and alone, the archetype represents those wanting association.
These businesses tell us that we need to improve our social skills, find a place to fit in and find support and companionship.
These businesses also serve as a reminder of the need to respect each person’s inherent dignity, regardless of their talents or circumstances.
The Everyman archetype is excellent if you want to develop your brand identity.
- People may feel as though they belong or that they belong because of its service.
- The price ranges from moderate to low.
- It was created or promoted by a corporation with a conventional management culture.
- It aims to distinguish itself from more premium competition.
One thing you should know!
We recommend reading “8 Steps to Complete Archetypal Branding” to see how it might improve your messaging.
After reading the book, you will have complete answers to the following branding questions.
To begin, you will learn how to express a distinct and clear message to your audience by understanding your product’s and brand’s mood. What is the essence of your message’s intended expression?
Create all of your brand elements using the archetypes. What precisely do I mean? The flowing story of the archetypes inspired the slogan, logo, packaging, and retail designs.
We must do this in the digital age by putting everything into action. How should I interact with my customers? How to use the 12 archetypes to achieve corporate goals and boost income.
The primary goal is becoming a hero, while the second is getting experience. We may combine these principles and use archetype-based communication to make the message more potent.
SWOT Analysis of Kohl’s
Strengths
Trustworthy suppliers: The firm has a solid base of reliable raw material suppliers, allowing it to overcome any supply chain bottlenecks.
Successful training and learning programs have resulted in a highly competent workforce. Kohl’s invests heavily in employee training and development, resulting in a highly trained and driven team to succeed.
Strong dealer community: It has established a culture among distributors and dealers in which dealers promote the company’s products and educate the sales staff to explain to the client how to get the most out of the items.
Product innovation requires a proven track record of developing new goods.
Strong Brand Portfolio: Kohl’s has invested in creating a solid brand portfolio. Kohl’s SWOT analysis emphasizes this point. This brand portfolio is beneficial if the company wishes to grow into other product categories.
A proven track record of successfully merging complementary enterprises through mergers and acquisitions. In recent years, it has effectively combined several technological businesses to simplify its operations and develop a stable supply chain.
The firm has achieved high customer satisfaction among current customers and substantial brand equity among future consumers thanks to its specialized customer relationship management department.
Excellent Performance in New Areas: Kohl’s has developed competence in entering and succeeding in new areas. The growth has assisted the organization in creating new revenue streams and diversifying the economic cycle risk in the markets in which it operates.
Weaknesses
Integration of enterprises with distinct work cultures could have been more effective. As previously stated, while Kohl’s is adept at merging small businesses, it still needs to integrate organizations with differing work cultures.
Compared to its competitors, it could be more adept at estimating product demand, resulting in a more significant proportion of missed chances. One of the reasons Kohl’s Day’s inventory is more prominent than its competitors is that the company could be more effective at estimating demand. Thus, it keeps more lists both in-house and in the channel.
Workforce attrition is high when compared to comparable firms in the industry. Kohl’s has a greater turnover rate and must spend significantly more on staff training and development than its competitors.
Investment in R&D is lower than that of the industry’s fastest-rising firms. Despite spending more than the industry average on R&D, Kohl’s has been unable to compete in innovation with the industry’s leading firms. It is a mature company eager to release goods based on market-tested features.
Financial planning could be more effective and efficient. The current asset and liquid asset ratios indicate that the Corporation can utilize its cash more efficiently than it is currently doing.
Because the organizational structure is only consistent with the current business strategy, growth into neighbouring product sectors is limited.
The firm needed help to meet the difficulties posed by new competitors in the industry, and it lost a modest market share in narrow areas. To address these issues, Kohl’s must develop an internal feedback process directly linked to the sales crew on the ground.
Opportunities
After years of recession and weak development in the sector, the economic rebound and rise in customer spending represent a chance for Kohl’s to gain new customers and boost its market share.
Lowering the cost of transportation due to decreased shipping rates can also reduce the cost of Kohl’s products, creating a chance for the firm to either enhance its profitability or pass on the savings to customers to win market share.
The new taxation policy will substantially influence how businesses operate and will provide new opportunities for established firms such as Kohl’s to boost their profitability. The government’s green initiative allows state and federal contractors to purchase Kohl’s products.
The new technology allows Kohl’s to pursue a distinct pricing approach in the new market. It will enable the company to retain its existing consumers by providing excellent service and attracting new customers through various value-added offerings.
Opening of new markets due to government agreement – Kohl’s has been allowed to join a new emerging market due to adopting new technological standards and a government free trade agreement.
The market development will dilute rivals’ advantages, allowing Kohl’s to strengthen its competitiveness compared to its competitors.
New consumer behaviour trends may offer up new markets for Kohl’s. It gives an excellent chance for the company to create new revenue streams while diversifying into new product categories.
Threats
The demand for highly profitable items is seasonal, and any unexpected incident during the peak season may influence the company’s profitability in the short to medium term.
Changing customer purchasing habits through Internet channels may challenge the current physical infrastructure-driven supply chain architecture.
Because the firm operates in several countries, it is vulnerable to currency changes, particularly given the turbulent political atmosphere in some regions worldwide.
Responsibility laws vary by country, and Kohl’s may be subject to various responsibility claims if rules in those regions alter.
In some areas, growing local distributor strength is challenging since competition pays larger margins to local distributors.
New environmental restrictions enacted in the Paris Agreement (2016) may threaten specific established product categories.
Intense competition: Stable profitability has expanded the number of industry participants over the previous two years, putting downward pressure on profitability and overall sales.
Imitating counterfeit and low-quality products is also challenging for Kohl’s, particularly in emerging and low-income areas.
Kohl’s chosen segment.
We shall start with a commercial.
Everyone wants to look their best on the first day of school, and Kohl’s has all of the season’s top brands for everyday style for whatever the school year has in store. Families will discover a fantastic choice of attire and accessories for the next year, from adaptable essentials to new denim styles, dresses, and retro apparel.
“The start of a new school year brings the opportunity for shoppers to refresh their wardrobes, and we’re excited to offer everything they’re looking for, from versatile basics to fall trending styles, all at a great value,” said Nick Jones, Kohl’s chief merchandising and digital officer. “At Kohl’s, we want to make it easy for customers to express their style by offering a diverse selection of apparel and accessories that fit into their daily lives.”
Tees, dresses, jeans, backpacks, sneakers, and essentials are the building blocks of every back-to-school outfit. Only at Kohl’s can you get brands like SO, Jumping Beans, Little Co. by Lauren Conrad, and Sonoma Goods for Life at affordable rates. School outfitting has never been more accessible or reasonable, with select kids’ shirts for $10 and $29.99 under denim for juniors, teenagers, and tweens.
Check out Kohl’s ‘Meetings to Me-time: Everyday Savings’ 30-second TV commercial from the Department Stores business. Keep an eye on this page to learn more about the music, characters, and celebrities in this television ad.
Based on some of the features mentioned above, the highlighted group inside Kohl’s are Floaters.
What are our present perceptions about Floaters?
Values and lifestyle:
The lives of this part rely upon providing good care for their family. The females in this category spend much time at home. They are either preparing delicious dishes or cleaning their house.
Floaters ensure their families have a pleasant life despite their low financial means.
Home is an integral part of the Floaters’ daily lives. They spend almost all their time at home – raising their children and ensuring the environment remains safe.
Floaters should be more concerned with their appearance or themselves. They purchase clothing for the sake of comfort rather than fashion. Floaters think that others must accept them as they are.
Floaters like to stay in familiar settings. A career is simply a means of earning money for them. As a result, they are looking for something other than new opportunities or responsibilities at work.
This strategy also applies to the segment’s personal life. Floaters place a premium on long-term relationships. In this stage, the women’s responsibility is to care for the children and the house. Being held accountable for such things is more important than living for their pleasure.
Using a brand:
When it comes to making extra purchases, floaters are pragmatic. People prefer to choose lower-priced brands. Floaters are always on the lookout for good bargains and discounts. They consider every penny.
Floaters prioritize quantity above quality when it comes to shopping. As a result, special offers such as “buy one get one free” are regularly available to Floaters.
Floaters are not the first to purchase new brands or things. Instead, this industry waits for the hype to die down and represents the majority of customers.
Other amazing facts:
Floaters live a quiet life focused mainly on their home and family. They would rather stay at home instead of going out in the evening. Sports and social events could be more appealing to this population. Their primary source of knowledge is television, and they could read more periodicals and newspapers. Floaters despise the internet because it causes them to become confused. Similarly, their radio listening is lower than the national average.
This leads us to the conclusion of the blog. We talked about Kohls. Its purpose, vision, archetype, SWOT analysis, and sector all received attention. If you want to read more posts like this, visit our main page.
