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Section 1

Contents

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EXECUTIVE SUMMARY .................................................................. 4

2 2.1

SITUATIONAL ANALYSIS............................................................... 5 Company Analysis ................................................................................. 5

2.1.1 Financials ............................................................................................... 5 2.2 Competitive Environment ...................................................................... 6

2.2.1 Tile Market ............................................................................................. 6 2.2.2 Wooden Flooring Market ....................................................................... 9 2.3 PEST Analysis ..................................................................................... 12

2.3.1 PEST Implications ............................................................................... 12 2.4 SWOT Analysis ................................................................................... 13

2.4.1 SWOT Implications ............................................................................. 13 2.5 Forecast ................................................................................................ 14

2.5.2 Wooden Flooring Market ..................................................................... 14 2.5.3 DIY Market .......................................................................................... 14 2.5.4 UK Economy Macroeconomics ........................................................... 14 2.5.5 The UK housing Market....................................................................... 15 2.5.6 Topps Tiles Sales ................................................................................. 16 2.6 2.7 Tile and Flooring Market Summary ..................................................... 17 Assumptions ......................................................................................... 18

3 3.1

OBJECTIVES .................................................................................... 19 Corporate Objective ............................................................................. 19

3.1.1 Key Operational Objectives ................................................................. 19 3.1.2 Key Financial Objectives ..................................................................... 19 3.2 Marketing Objectives ........................................................................... 20

3.2.1 Product ................................................................................................. 20 3.2.2 Distribution .......................................................................................... 20 3.2.3 Pricing .................................................................................................. 20 3.2.4 Marcoms ............................................................................................... 20

3.3

Marketing Dashboard ........................................................................... 21

4 4.1 4.2 4.3 4.4 4.5

MARKETING BUDGET .................................................................. 22 Past Spending and Affordability .......................................................... 22 Competitor Spending and Share of Voice ............................................ 22 Objective and Task ............................................................................... 23 Current Market Situation...................................................................... 23 Percentage of Estimated Sales Revenue in 2013 ................................. 23

5 5.1 5.2 5.3

MARKETING STRATEGY ............................................................. 24 Gap Analysis ........................................................................................ 24 Ansoff Matrix ....................................................................................... 26 Market Segmentation ........................................................................... 26

5.3.1 Competition Segmentation ................................................................... 27 5.4 5.5 5.6 5.7 Product ................................................................................................. 27 Pricing .................................................................................................. 28 Distribution .......................................................................................... 28 Strategic Marcoms and Relationship Marketing .................................. 29

5.7.1 Advertising ........................................................................................... 29 5.7.2 Public Relations ................................................................................... 30 5.7.3 Direct Marketing .................................................................................. 30 5.8 Relationship Marketing ........................................................................ 30

5.8.1 Product ................................................................................................. 31 5.8.2 Pricing .................................................................................................. 31 5.8.3 Distribution .......................................................................................... 31 5.8.4 Promotion ............................................................................................. 31

6 6.1 6.2 6.3

MARKET RESEARCH..................................................................... 31 Product Research .................................................................................. 31 Distribution Research ........................................................................... 32 Database ............................................................................................... 32

7 7.1 7.2 7.3 a) 7.4 7.5 7.6

MARKETING TACTICS ................................................................. 32 Marketing Mix ..................................................................................... 33 Advertisement ...................................................................................... 35 Public Relations ................................................................................... 36 Trade Events......................................................................................... 37 Direct Marketing .................................................................................. 37 Product ................................................................................................. 38 Month by Month Marketing Tactics .................................................... 38

8

CONTROLS ....................................................................................... 41

9

CONTINGENCY PLANNING ......................................................... 42

10

REFERENCES ................................................................................... 43

11

APPENDICES .................................... Error! Bookmark not defined.

1

Executive Summary
a) This marketing plan was produced to offer a review on the current situation of Topps Tiles and the marketing objectives to be implemented in February 2013 to the end of January 2014. b) The marketing plan will look at key components of the Tile and Wooden flooring market, including current trends within both markets, and the competition within those markets. The plan will analysis both component to produce a summary of the current market situation c) Using the Objectives as a reference, a carefully drawn up budget has been considered in which has been justified in this plan. The plan will also state the strategies and tactics that will be used to make sure Topps achieves its objectives for the next coming year(s). The strategy and tactics have also been carefully considered to maximize potential return, in terms of achieving the objectives set out. The plan will also look to the future to establish a contingency plan, which will outline a number of actions to be taken should a certain situation arise d) Current situational analysis, has identified a key downward trend within the Tile market which will prove worrisome for Topps as it is there main product, however analysis has also shown a upwards trend in the wood flooring market. e) Current analysis has also shown that competition within the tile and flooring market is become fierce with bigger competitors entering the market, with the like of B&Q and Homebase f) Analysis of trends has also shown week demand in the housing market over the past 5 years due to the recession and the effectives it has had on consumer confidence. This however proves to be a „double edged sword‟ as there has been an increase in the number of people renting properties which mean less DIY can be conducted on these properties. However with the current market situation people who own properties are looking to DIY as a cheaper form of increasing the value of their property g) The main objectives set out in this plan are as followed  To increase Topps Tile market share in the Tile market to 27%  To increase sales revenue by 5%, over the next year  To Increase the growth profit margin by 5% to 65%, over the next 5 years h) Using the objectives set out the current budget that we consider to be most effective in achieving these objectives is £5,310,000. This will be split
Budget (£) Market Research Advertising Public Relations Direct Marketing Product Contingency Plan 265,500 3,130,000 960,000 360,000 255,500 540,000 % of the total budget 5.00 57 17 7 5 10

549 (6.1 Financials Consolidated Statement of Financial Performance for the 52 weeks ended 29 September 2012 52 weeks ended 29 September 2012 £‟000 177.525 (70.624 152 (4.1 SITUATIONAL ANALYSIS Company Analysis Topps Tiles is engaged in the retail and wholesale of distribution of ceramic tiles and wood flooring (Reuters.103) 18. where it operates through its core values of offering offer high quality tiles at value for money with a friendly knowledgeable service.630) 7. offering products and help for people doing DIY.693 (71.980 356 (4.231) (5.883) (6. This product expansion has helped Topps to cement a strong position in the market.462 52 weeks ended 1 October 2011 £‟000 175.798) (1.108) (637) 12.755) (7.1.724) 9.638) (65.462 1.194) 5.051) (1.618) (4.908 (2.624) (5.1.621 (6. where it currently has a 26% market share in the tile market (Topps Tiles. Topps Tiles main customer focus has been the public.174 (1.2 2.493 (2.1 Group revenue – continuing operations Cost of sales Gross profit Employee profit sharing Distribution and selling costs Other operating expenses Administrative costs Sales and marketing costs Group operating profit before exceptional items Impairment of plant. 2012). However over recent years Topps have expanded their range of products to appeal to Tradesmen‟s.904) 104.144) 106.393) (6.714 Table 2.769 . property and equipment Write off of display inventories Property related provisions Group operating profit Other gains Investment revenue Finance costs Fair value (loss) on interest rate derivatives Profit before taxation Taxation Profit for the period attributable to equity holders of the Company Source: Topps Tiles Annual Report 2012 15.862) 13.460) 15.023) (67. while also offering trade discounts. 2012) 2.281) (1.

which started in 2007. 2011) which at its height in 2008 was worth £420 Million (Hucker. 2010).2. Topps Tiles specialize in this market. with totals sales for ceramic tiles in the retail market down 7.0 -8. with the market more than 20% smaller than 2008 (KBB Review.2.8 -8. such as carpet or wooden floors.8% in 2009 (Hucker. 2010) This had increase year on year until 2009 when the market went into decline. This was mostly due to a lag effort of the recession.80 million in 2009 (Topps Tiles.1 shows the value of the Tiles market from 2007 to 2011.  The Tile market would include any business that sells tiles.2.1 Source: Keynote Market Report on Wall coverings and Ceramic Tiles 2012 *Retail Selling Price The decline in the Tile market is evident Topps Tiles sales figure. 2011) and has „bounced‟ around this figure for the past 3 years. they are the Tile market.1 Tile Market The UK ceramic tile market is in a state of decline since 2008 when the recession hit.  This secondary. Table 2. Topps in 2009 represented around 23% of the tiling market an increase from 22% the previous year . flooring market is made up of companies that sell any type of flooring. 2. Table 2.2.1 Ceramic Tiles Value (£m at rsp*) % change year-on-year The Total UK Retail Market For Ceramic Tiles By Value 2007 475 2008 477 2009 440 2010 405 2011 372 - 0. which decreased from £208. and the Flooring market. This market is much bigger than the tile market.4 -7.08 million in 2008 to £178.2 Competitive Environment Topps Tiles can be split into two separate markets.

gives them an advantage of buying power over many of its competitors .400 2. This is nearly twice the sales revenue of the second largest competitor in the market Homebase.483 29.2.1(a) shows that B&Q are by far the largest company involved in the Tile market.197 19.1.200 1. while Topps with current sales of £177.2.280 44.257 17.617 68. 2012) *Finances submitted within the first 4 months of 2012 Table 2. as Topps specializes in tiles giving a commanding 26% market share in the tile market. but the four described below are the largest in the UK Table 2.512. However even though B&Q and Homebase as well as Wickes are turning over large amounts in comparison to Topps‟.05 Wickes 980.2.967 2.2.690 1. The economies of scale that Topps processes with this market share.1(a) The Financial Health of Topps Tiles Competitors (2011) (£.900 0 151. this does not mean Topps is not a main competitor within the Tile market.112 39.2.710.060 487 33 0 33 1.447. There are more competitors within the Tile market.1(a) shows the financial health of Topps Tiles biggest competitors within retail of tiles.445 755 28.1 Tile Market Competitors Table 2.338 428.000s) Turnover Cost of Sales Gross Profit Margin Operating Profit Profit after Tax Dividends Retained Profit Current Ratio B&Q* 3.1.693m comes in fourth after Wickes.900 5.198.200 178.11 Tile Giant* 36.1.859 763.28 Homebase* 1.967 0 44.700 151. by revenue.450 552.04 (Source: Keynote company database.242 684.1.

Which is absent in the Market (DIY.2. The smallest of the large competitors within the market analyzed. (Tile Giant. Offering products to the public and the trade (Tile Giant. 2012) Assumptions Resources and Capabilities Consumers are price conscious in the current market situation as times are hard for some Wickes parent company Travis Perkins has large revenue streams (Travis Perkins. Homebase are also trialing kitchen installations. 2012) Advertisement aimed at making DIY look easy.1. a large corporation and builders merchants (Travis Perkins. 2012) DIY 300+ and Online (Homebase. offering low prices on a range of its items. 2012) Trade and DIY 321 and Online (B&Q.1. Using the competitor analysis criteria in Contemporary Strategic Analysis by Robert Grant.Table 2. which can be used on a number of products and services Travis Perkins. a multinational corporation (Home Retail. 2012) Trade and DIY 107 and Online (Tile Giant. Tile Giant Tile Giant offers a range of tiles through its stores and online. 2012) Travis Perkins (Tile Giant. 2012) To give every customer the best service when they visit our stores with Giant range and Giant savings. Known more so for its furnishings Homebase uses nectar cards to attract customers in by rewarding them with points. to analyze their position and competitiveness within the market Background information Wickes Wickes operates as a trade and DIY store. 2012) This can be reinvested in the company. 2012) B&Q has also moved towards offering „Green‟ and „Eco‟ Products. 2012) Trade and DIY 200+ and Online (Wickes. 2012) The Home Retail Group. 2012) Owners/Parent Company Customer Base Number of Stores in the UK Strategy Kingfisher. 2012) To provide the best value for money in the DIY market B&Q B&Q operates as DIY store offering products ranging from tiles to flooring as well as garden ware and tools However B&Q does operate a trade store inside many of its large stores. called trade point which provides material for tradesman Homebase Homebase offers a range of home furnishings and DIY products. (Kingfisher.2. Products range from plumbing to carpentry and of course tiles. Travis Perkins also operates tile giant giving it access to millions of tiles Offers more products then just tiles.1(b) consists of Topps Tiles main competitors. Wickes also provides an installation service on kitchens and bathrooms. a large multinational corporation (Kingfisher. which can be reinvested back into its company in times of hardship or to make them more competitive. including tiles. while also enhancing activities on social networks Offering a move diverse range of home furnishing products using Homebases own brand name (Home Retail Group. the parent company has large capital. which can reinvested into the company and its subsidiaries However Homebase is not as well established in the tile market as its competitors. 2012) Offering a user friendly website. Operates the largest number of DIY stores in the UK Can attract customers in on products other than just tiles B&Q has the use of its store cards to create brand loyalty Home retail group has revenue running into the billions.1(b) Tile Market Competitor Analysis Table 2. they are less financial well of in terms of revenue then Topps . This can attract customers in who are looking to buy more than just tiles Customer Service is key within the market Kingfisher has revenue running into the billions. with the red pencil pricing scheme aimed at traders. Travis Perkins. which can be invested to expand the brand Travis Perkins also operates Wickes which is also present within the tile market giving both companies an advantage in purchasing power.

with wood and laminate flooring covering one sector. Furthermore the owners can reinvest this money into their companies to expand their product range to adapt to the competition  Travis Perkins. with revenues running into the £billions. This gives them large capital reserves in which to fall back on.335 2010 1.4 Source: Keynote 2013 report on the floorcoverings market The growing popularity of wood and laminate flooring has meant that sales have increase.9 0. This also gives them a considerable amount of say in the market when purchasing.2 Wooden Flooring Market The floor coverings market is split up into a number of sectors. with the biggest increase falling in 2010 when the value of the increased by 1. between 2008 and 2012 the sector grow by 3. with growth between 2011 and 2012 at 0. Tile Giant and Wickes along with the large trade base Travis Perkins already appeals to.2.9% from 2009 (Tutt.329 2009 1.2% share of the floor coverings market (Tutt. leading to lower prices.1.2.2(a) The wood/laminate flooring by value at current prices (£m at rsp) 2008-2012 2008 Value (£m at rsp) % change year-on-year 1.370 2012 1. Although growth has increased it has also started to slow. are owned by large multination companies. 2012) . with a 22. 2012).2 Tile market competitors: Implications for Topps Tiles  All the companies listed within the table.376bn (Tutt. this could make it hard for Topps to establish itself within the trade industry  All 4 companies mentioned are well established brand names which are well respected by. owns two firms within the market.5 1. The UK wood and laminate flooring market in 2012 was worth £1.4% (Tutt.2. 2013).5%.2. Table 2. especially Wickes which is well established within the trade industry with its „Red Pencil Pricing‟ 2.360 2011 1. 2013).376 - 0.7 0.

with buying power. 2012) Carpet Right Plc. Using the competitor analysis criteria in Contemporary Strategic Analysis by Robert Grant.2.000s) Turnover Cost of Sales Gross Profit Margin Operating Profit Profit after Tax Dividends Retained Profit Current Ratio Carpet Right* 471.Table 2.2.861 19.777 0.000 4. running into the billions.978 2. This means that if Bill gates is willing.500 195.00 18. Billionaire philanthropist. Meaning Wilkinson‟s can wither set prices or obtain higher profit margins However net profit margins are very low due to the low costs that Wilkinson‟s charge.2.96 (Source: Keynote company database. 6% owned by Cascade investment. There are more competitors within the market. capital can be injected into the company The demand for labour saving devices and DIY is extremely high Large revenues.60 Wilkinson‟s 1.539 617.2.500 276. However the other main competitors have already been analyzed in Table 2. selling wooden flooring as well as carpets.2. which is owned by Bill Gates (Hall. 2012) *Finances submitted within the first 4 months of 2012 Table 2. giving a strong position within the market. meaning they are no better off financial then carpet right Wilkinson Hardware Operates a number of stores across the UK focusing on household essential and of course hardware products aimed at DIY Wilkinson Family Owners/Parent Company Customer Base Number of Stores in the UK Strategy DIY Online Focus on students.565.260 13.1.2(c) consists of Topps Tiles main competitors within the wooden Flooring Market.400 947.2 (c) Background information Carpet Right Operates as a flooring specialist.201 11. Table 1. This gives them an advantage in purchasing as they will be able to negotiate low prices on products they buy Cascade investments is an investment vehicle for Bill Gates.2(b) Wooden Flooring Market Competitors (£.600 0 11. value and quality customer service will appeal to the consumer Carpet right has an extensive number including stores abroad with 679 stores in 4 countries. we have analyzed there position and competitiveness within the market.2(c) Wooden Flooring Competitor analysis Table 2. 2010) DIY 539 Continually improving the product range and customer service Grow sales through associated products Pursue opportunities to extend the brand in Europe Using Insurance replacement market to increase sales Assumptions Offering choice. They offer a free home consultation (Carpet Right.2.1(b).1(c) shows only two competitors in the wooden flooring market. This is why they are not included in Table 2. as the main customer Resources and Capabilities .2.000 0.

Revenue is considerably higher than that of Topps‟s along with the number of store run. This could ultimately lead to their demise opening the market for Topps‟s  Wilkinson‟s can attract customers to their stores and online through a range of other products that they stock. in the form of Bill Gates. Although this is unlikely it shows the risk that both run when operating and could potential be a weakness if revenues are lower than expected.2. Billionaire. which in turn could potential see investment poured in to overcome any problems.1 Wooden Flooring Market Competitors: Implications for Topps Tiles  The capacity of both carpet right and Wilkinson‟s far outweighs Topps‟s Capacity. which is below 1 showing that both companies would struggle to pay off short term debt should the situation arise when they are asked to pay it off at this very moment. This can take sales away from Topps  Carpet Right has a major investor involved in the running of the company. This could signal Cascade‟s intent on keeping the brand alive.2. giving it an advantage if the market turns . with carpet right managing the most stores.2. means they have a competitive advantage in being able to reach out to more consumers  However both carpet right and Wilkinson‟s have tenuous financial position when looking at their current ratio.

(BBC.2. from 0. 2012c) Housing Market  Topps relies heavily on the housing market. (Helm. 2012a)  Increase in Stamp duty from 5% to 7%. 2012a)  Socio-Cultural Consumer Trends  Homeowners deciding not to renovate homes. which is good because products would be made to order. (BBC.  Better logistics  This allows products to be distributed quicker.1 million people renting houses Branding  Consumers do not perceive Topps Tiles as a high quality brand (In the white room 2012)  Community  Mosaic programs  Youth Football  Charity involvement.9%.7%.  Reduction in CO2 emissions with new low emission vehicles. (FT. (MEN.  Using the Internet as a marketing tool. This will have a detrimental effect on Topps who rely heavily on the DIY market (keynote. which will increase sales turnover . as they do not own the property. Making spreading out to European markets less desirable. as well as linking them. creating more homeowners. This shows that a move towards offering a better range trade products. (BBC. would be a sensible idea  The strength of the sterling against international has made purchasing products from abroad cheaper. Environmental  Replacing lighting installations to ones that use less energy. 2012d) Euro-Zone  The Euro-Zone is predicted to have a slump in growth.0% in Q3 2012. (BBC.5% to -0.3% in 2016-17. this decrease in demand for new houses has meant that renovation of new properties has dropped. (FT. making housing slightly more expensive.3 PEST Analysis Economic Economic growth  The UK economy increased by 1. whereas nationwide say they fell by 0. and save cash.1 PEST Implications  The current economic climate has meant that the housing market has stagnated.3%. This has meant a decrease in demand for products such as tiles and wooden flooring.6% according to Halifax. 2009). (BBC. who will be employed by the landlord to carry out the work. as people are more likely to buy tiles when they move into a new house. 2012b) Unemployment Rates  Forecasts suggest that unemployment will peak at 8. 2009)  Younger people renting houses rather than buying. until it is at 6. 2009)  House prices have fallen by 0. Moreover homeowners are declining to spend money on renovating properties to save money as consumers tighten there belt (FT. 2012)  3. 2012)  Technological E-Commerce  Topps Tiles offer similar service online as they do in store. 2010a) Borrowing  Responsible lending culture makes it harder to borrow money to fund home renovations. 2012a) Government Intervention  Increase of VAT caused less consumer demand.  A shift in the market towards renting has meant that consumers no longer have control over renovation. (XE. Political and Legal Housing  More funding for new housing in 2013. Help for Heroes 2. Having a „light at the end of the tunnel‟ will give consumer a sense of optimism.3. meaning that the cost of its product are lower giving Topps the chance to lower its prices to increase purchases or to keep prices the same and thus increase profit margins  The economy is recovering although it is at a slow rate as George Osborne in the budget predicted the country will not be debt clear until 2016 (BBC. (Guardian. 2012). total cut of 8% a year. so they can renovate and make it their own. then fall each year. 2010). 2012c) Exchange Rates  The value of the £ against the € is stronger than it was at the beginning of 2012. this may lead to increase spending habit. (BBC.

This may help Topps expand its market share as well as increase its revenue and maybe its profits. giving it better leverage within the market. this could damage Topps all-round. such as Ireland which has a similar culture to us The opportunity to move into fittings in order to compete with B&Q and Wickes.4 SWOT Analysis   Strengths Topps is the largest company within the tiles and wooden flooring market. such as Wickes and B&Q.  Topps may be able to use its competitive advantage of purchasing power and knowledge to dislodge the competition from the market. Topps can look to growing markets such as India and China to explore new markets There is also an opportunity to look into markets around the UK.  Competition is competing in different segments of the market. which is why they need improve their competitiveness and become aggressive in their marketing strategy. Topps over the past few years during the economic downturn has faced a barrage of problems which have weakened its position within the market. The economic downturn has made it difficult for most companies to operate. Through a combination of lower price. which have widened their product range to include tiles and wooden floors.     2. high quality products that appeal to the trade .  Topps has an opportunity to defend its position within the declining market by penetrating the increasing trade market. such as the decision by its credit insurer to withdraw its cover Topps dealing in discretionary products have weakened it over the downturn as people save their many rather than spend them on products that are not necessities Threats A change in preference away from tiles and wooden flooring would be catastrophic for Topps as it will be difficult to adapt to a new customer preference Facing strong competition from DIY shops.2. Topps is a specialist in the tiles and wooden floor industry giving It a more focused product range. giving it a competitive advantage over it indirect and direct competitors due to its knowledge and expertise within the tiles and wooden flooring market Topps has larger capital then many of its smaller independent competitors.4.1 SWOT Implications Topps is facing a strong threat from new competition within the market in the form of large well established DIY companies. Topps may In the future face stiffer competition from online competitors Many DIY stores such as Wickes and B&Q have moved into the tile and wooden flooring market        Opportunities The emergence of cheap labour in Asia has meant that Topps can capitalize on lower priced tiles. as stated before with buying power    Weaknesses Topps has placed itself in a position that will be difficult to change in the event that customer preferences change Topps doesn‟t have a fitting department which many of its competitors have.

2012) However „DIYer‟ are opting for quick fixes rather than large projects.g. This could adversely affect sales targets for the coming year as demand declines for tiles and wooden flooring.5 Forecast Forecasting the market is important in planning for future. e.85 improving their property.5. On the other hand quick fixes could mean people look to repair cracked tiles and floorboards. (TalkTalk. due to an ever increasing middle class 2.4 UK Economy Macroeconomics With George Osborne announcing that the UK debt will fall by 2017 (telegraph.1% on its current value as shown in Table 2. with sales down by 8. sales are expected to rise 12% through to 2017 (Belfast Telegraph) 2.1 Tile Market forecast According to a keynote report on the tile market (2012) the tile market has declines year after year.5.2 Wooden Flooring Market With the recession easing and the public is turning to wooden flooring as it is believed to increase the value considerable compared to other types of flooring (Easy Step Flooring.5. This could signal an increase in sales.2. 2012) Confidence in the market has increased. 2.3 DIY Market The average amount spent on DIY is expected to increase in 2013 with the average homeowner expected to spend £1. However the economy .5. with growing demand in emerging markets. This trend shows that the tile market is in decline and losing value. 2012) Worldwide growth also has a positive outlook. Forecasting can also be helpful in predicting future trends within the macroeconomic sector which has recently become of importance in light of the recession 2. This is why a move towards the paint market may bring some relief or even looking to expand the tile market into developing countries as demand there is high. a warning sign for Topps‟s. Kitchens and Bathrooms.1% in 2012 compared to 2011. This will help prepare for any future changes in the market. and the market looks to continue its downward slope with the value of the UK ceramic tile market expected to be down by 26.1.501. helping the company to adapt to the new market. as consumers look towards DIY shops for these items rather than trade shops.1.2. Moreover with the introduction of Dulux to many of the Topps stores this could counteract the decline in sales elsewhere as 18% of people survey stated they would give their home a new coat of paint.

5. when the housing market was at its peak before the recession took hold in September of that year.3% in 4Q of 2012.uk House prices are steady at the moment.5. as rental properties are limited to the amount of work that can be carried out on them. This impact is evident in Topps Tiles total sales results before the recession hit. Home owners are most likely to conduct a form of DIY or renovate there property through a tradesmen‟s. This correlation is shown in Graph 2.08m.co. with lambert (2012) forecasting that house prices are due to rise by 15% between 2011 and 2016. A healthy housing market means people can afford to buy a house.5 Average House Prices Source: http://www.thisismoney.shrank by 0. 2012) this may panic some investors.5. This was due to fall in demand for houses as the banks became tougher with lending out money for mortgages Graph 2. 2. which shows the moment the property bubble burst and house prices. This could see a surge in sales for Topps if forecasted correctly . This shows the correlation between the health of the UK housing market and Topps Tiles sales. This forecast if true may signal a return to spending levels seen in 2008 before the recession as this shows a demand for housing.5 The UK housing Market The health of the UK housing market plays a crucial role in terms of revenue for Topps Tiles. which without their money the economy may shrink for a second time. such as the Kitchen or the Bathroom. which would mean higher home ownership and bankers more willing to lend. In 2008 sales figures were £208. This gives them the opportunity to develop their property by renovating certain aspects. signaling that the UK could be heading for a triple dip recession (BBC.5.

of Analysts Low Estimate High Estimate Year Ago Sales Sales Growth (year/est) Sales Revenue forecast for the year 2013 and 2014 Current Year Sep 2013 Next Year Sep 2014 183. and having the consumers willing to spend money is showing a change in the current climate .5.4%. which would indicate a rise in marketing will be needed to maximise the potential for increased sales.yahoo.5 show an increase in growth of 3.6 were provided by yahoo finance Table 2.5.finance.5.L The figures in Table 2.6 Topps Tiles Sales Sales figures for 2013 are positive.2.88m 6 186.00m 183.5. with growth expected in the next 12 months. which has been predicted by professional analysts.69m 3. which will please shareholders if Topps decides to pay out dividends Table 1.70m 3. Estimate No.70m 6 183.5 also show great potential for the year following in 2014. with the increase in sales this will mean a potential high profits for the year.90% Source: http://uk.6 Revenue Est Avg.70m 196. The sales figure shown in Table 2.5.00m 184.40% 190.92m 177.com/q/ae?s=TPT.

2012) This means that people are limited on the amount of work they carry out on the property. Carpet Right is also another firm that you do not want underestimate. because although it does not compete in the tile market. the DIY market is in decline as trends change.7 Billion in the UK this will appeal to many companies as an opportunity to bolster revenue as well as „out do‟ there competitors. due to the recession making obtaining a mortgage difficult (This is money. which in most cases is there income. This has could mean a forecasted rise in the trade market. which is why offering a better deal towards the trade will in hope. Topps and Tile Giant have existed in the market the longest. and even with an increase in rented properties. people still conduct small forms of DIY including replacing cracked tiles and broken floor boards. . with a combined market value of over £1. it does compete indirectly as carpet is an alternative to tile flooring. the more profit they make. with more people renting properties.6 Tile and Flooring Market Summary The Tile and Wooden Flooring market is very competitive. However Topps does have one „ace up its sleeve‟ in that it specialize in tiles and wooden flooring. as they do not own it and landlords would rather a tradesmen‟s conducted the work as it is professional done. In conclusion with the housing market changing in favor or traders and a declining participation in DIY a move towards increasing trade sales would be logical step to take. especially as the competition are larger than Topps in size and revenue. which then for convenience may buy there other products from the store. B&Q and Homebase have only recently tried to penetrate the market. With quality and price the number one factors stipulating where a tradesman would buy his products. Although there is money to be made within the Tile and wood flooring market. This means they have the advantage of traders buying another product. as the 20 million strong force (TalkTalk. for Topps to sit still would be the wrong approach. boast sales figures. with purchasing power high and knowledge of the market being imperative.. while Wickes. These customers are going to want cheap products.2. However this does not mean to count of „DIYers‟. Furthermore with competition becoming ever more fierce. Wickes and B&Q also offer a wide range of products that appeal to traders. as they are only replacements. by offering Tradesman‟s what they want. Topps can use this to their advantage. with B&Q (Trade-Point) and Wickes catering for specifically for the trade market. which is high quality products as the lowest price. giving it good balance on the economies of scale. Carpet Right does however compete directly within the Wood flooring market. This is essential for tradesmen as the more money they save on a job. 2013) should still be Topps‟s main target market. However competition is fierce within this market. This is one of Topps‟s „aces‟ as with the price promise.

This may also lead to lower unemployment levels as business‟ recover and sales increase as consumer spending increases. positive and negative Table 2. key assumptions need to be made regarding the economy and the market.7 Assumptions For the Topps Tiles marketing plan to be effectively implemented. If this problem does occur then prices must be increased. with a strict view on opening new stores and looking to just survive the current downturn by keeping costs low and risk to a minimum The value of the pound continues at its current growth rate compared to the Euro and the Dollar This will benefit Topps immensely in trading terms. then gross profit margins will stay steady or may increase.7 Assumption The economy recovers. which could signal a high demand for Topps products as homeowners look to increase the price of their property before putting it on the market Contingency Plan This is not guaranteed.2. with consistent growth over the next four quarters Assumptions for the year beginning February 2013 The Effect Consumer confidence will increase if the economy recovers. as many of the items are brought from the continent or further. This intern may lead to a resurgent in the housing market. If the pound continues at its current rate and does not depreciate drastically over the next year. The following section will analyze these key assumptions to establish the effect they will have on the marketing plan. This is all dependent on the Euro and Dollar If the value of the pound does decrease in the wake of a triple dip recession and further pressure from the troubled euro. then costs will increase as exchange rates become unfavorable. This will further damage consumer confidence. If the prices do not increase then achieving a higher growth profit margin will not be possible as goods become more expensive but selling prices does not change . as competition will be faced with the same situation. if the economy continues to shrink for a further two quarter it will signal a return to the recession. If the economy does head for a triple dip recession. The plan will be for Topps to continue with current trading measure. which may mean they continue to keep a tight fist on their finances. which may mean increases in spending as consumers become more settled and less worried about money.

1 Corporate Objective Corporate objectives are the most crucial within a business. with the view to acquiring a competitor over the next 5 years. the current market situation and trends. The view to open a store in Ireland within the next 5 years  Analyze current direct and indirect competition. 3. which will be incorporated into the company at the beginning of January 2013 with a plan of fulfilling the objectives within the next 5 years The following objectives have been carefully considered. taking into account.1. The following corporate objectives will outline the new direction in which Topps Tiles will follow. These objectives give the company a direction in which all departments within the company must work towards. 3.1 Key Operational Objectives  To increase Topps Tiles market share to 28% over the next year. along with the strategies and tactics that will be used to achieve these objectives. and Topps‟s current situation within the market 3.3 OBJECTIVES This section will contain the objectives.2 Key Financial Objectives     Increase sales revenue by 5% in 2013 and further 5% every year after Increase the gross profit margin from 60% to 65% over the next 5 years Reduce net debt by £5m each year Reduce inventory days from 133 days to 115 days by 2018 . from the current 27%  To continue with a conservative approach to opening new stores in 2013  To research and analysis expanding the brand into Ireland. Competition.1.

by the end of year 5 to have a net promoter score 95%.2. currently at 90. The aim is for the Dulux paint range to account for 10% of totals sales for the coming year (2013) and thus helping to push total revenue up by 5%  To increase the quality of tiles on offer by looking for new suppliers to work with over the next 5 years. The view to bring it nationwide within the next 2 years and having a base of around 50.3 Pricing  To be the best value tile retailer. to have the service implemented for the year 2014.6% .000 customers on the scheme by 2018  To increase the number of visitors to Topps Tiles website by 10% over the 3 years  Increase the net promoter score to 1% each year. this again will require negotiations with existing and new suppliers 3. especially tillers. to make it easier for consumers to shop by opening a further 20 more stores by 2018  To expand into the insurance market over the next 3 years. The aim is to decrease the number of inventory days of to 115 by 2018. with a 10% increase in Tile trade sales  Analyze current inventory levels.2.  To use the economies of scale to push for a 65% gross profit margin by 2018. This can be done through purchasing power but will require negotiations with existing and new suppliers  To be able to lower prices on tools by 10% by 2015. with at least one contract with a major insurance company in the UK 3.2 Distribution  To expand on Topps Tiles store consultancy service by offering a home consultancy service.1 Product  To implement the Dulux paint range across all Topps Tiles 306 stores.2 Marketing Objectives 3. rewarding customers with every purchase.4 Marcoms  Trial a new store loyalty card scheme. The aim is to increase appeal to the trade market. This will also reduce costs and may lead to high profit margins 3.3.2. reducing warehouse space by reducing the amount of products purchased. This will give a more comprehensive service to the customer. with the ai  To expand the channels of distribution. in terms of price for the next 5 years.2.

the ordinary „Joe blogs‟ to conduct the most simplest forms of DIY Offer a more comprehensive brochure. This dashboard is basic compared to the industry used dashboards.000 card holders by 2018 Increase the number of website visitors by 10% by 2015 Increase the Net promoter score to 95% by 2018 To establish Topps in the insurance market with a contract to at least one major insurance firm in the UK by 2015 To increase the gross profit margin to 65% by 2018 Increase market share to 27% over the next year Protect and Increase market share Increase sales revenue by 5% over the next year Advertise in local and nation newspapers Advertise on national radio Using in store promotion and advertising to promote the Dulux paint range Market research – update and increase the existing database for use of the loyalty card scheme Research the possibility of expanding the brand into Ireland to open new store there Use events to teach and help local tradesmen and „DIYer‟ offering our expertise and Topps tiles knowledge of the tile and flooring markets Continue to offer DIY videos online to help.3 Marketing Dashboard The dashboard shows the relationship between the key metric. once the outside business consultancy firm have been notified of Topps Tiles intentions for this year Goals Increase Sales Revenue Objectives Tactics Launch two new adverts to be shown for 9 months of the year Increase the number of stores to 326 by 2018 Increase Brand Strength Launch the Dulux paint range through Topps tiles 306 stores Implement a loyalty card scheme. Topps Tiles objectives and the tactics set out this year. with the aim of having 50. A more comprehensive dashboard will be made available.3. different brochures for the public and trade Increase Customer Loyalty Increase Brand Awareness .

2010 2010 42. and a lag effect on the consumer.000. This is outlines below      Past Spending and Affordability – 2% of Sales Revenue Competitor Spending and Share of Voice – 2% of Sales Revenue Objective and Task – 4% of Sales Revenue Current Market Situation – 2% of Sales Revenue % of estimated sales revenue in 2013 – 2% of Sales Revenue 4.19% increase.5 Change % 39.000.50 5.3% of forecasted sales for 2013 (£183. in fact revenue for 2011 fell by almost £8.2 Figures £m B&Q Homebase Wickes Competitor spending on marketing from 2009 .168.511. as Topps Tiles needs to stay competitive. . Although this data cannot be compared to Topps Tiles previous budgets as they have a wider range of products. which did see an increase in sales revenue by £2.000 .4 MARKETING BUDGET 2013 Marketing Budget = £5. This increase shows there may be a correlation between the amount spent on marketing and the resulting sales revenue for that year 4.000 in 2010.9 19.385. Although the amount spent is considerable lower than its competitors. while B&Q. The table below shows the amount spent on marketing by some of Topps Tiles competitors.68 Source: Billetts Media Monitoring 2010 (Retail Week.1 Past Spending and Affordability In 2011 Topps Tiles spent 2% of its sales revenue.000 from the previous year. Topps has a more focus ranged of products. This however may be due to the economic climate. This is a 30.600. Topps continued with its current format of using 2% of sales revenue for the year 2012.8 10.13 83. Table 3.3 2009 30. 2011) In the same period Topps Tiles spent £2.000 in 2009 and £3.4 21. and B&Q. Homebase. Its indicates the amount spent on drawing customers into their stores.2 Competitor Spending and Share of Voice Competitor spending is vital in evaluating next year‟s marketing budget.4 20. with strong brand recognition. Wickes.70m) The marketing budget for the year ending December 31st 2013 is calculated using a combination of methods. However this increase in spending did not result in the desired effect of increased revenue. which affects Topps as the competitors stock products that are the same our similar to products marketed by Topps.

These companies can invest large sums of money in their subsidiaries to increase revenue or just to survive.08m in 2008 to £175. Taking into consideration the objectives and task set for 2013. 2011). This is most likely due to the current economic climate. Another difference that must be taken into consideration is the corporate ownership of the competitors which are owned by multi billion pound companies. This means setting aside the right amount of money to be able to complete these objectives. as well as current sales within the markets.5 Percentage of Estimated Sales Revenue in 2013 Analysis the growth of the ceramic tile and flooring market. which has seen consumers spend less as they tried to save money as confidence in economy is low. 2012). 4.Homebase and Wickes have a broader range of products. the budget will build on previous year‟s budget to determine the marketing budget for the for the year running February 2013 to January 2014 4. The current evaluation of the tile and flooring market has a combined value of £1.742b. will give a good indication of the amount need to be effective in attracting customers to buy from Topps Tiles. . planning is crucial to the objectives being SMART. which is why a gradual increase in the marketing budget will prevent Topps tiles name when the market recovers 4. However marketing is key to keep the brand fresh in the consumers‟ mind. with revenue declined from £208.52m 2011 (Topps Tiles. This downturn in sales has meant that retailers are making their marketing budget stretch further as companies start making cuts (Retail Week.4 Current Market Situation Topps Tiles has had a turbulent couple of years with sales growth.3 Objective and Task With the objectives for next year and also looking into the future.

6 20.1 to work out target sales. especially if they stick to the objectives set in Section 3.5 5.25 forecast and target sales (%) TT‟s % 25.6 38. However with regards to Topps Tiles whose 2012 sales had a 1.1 MARKETING STRATEGY Gap Analysis Table 5. Table 4. 2012 2012 700 2013e 695 2014e 688 -1.3 25.1% increase from their 2011 sales whilst the rest of the industry was going down.1 Market Growth Forecasts UK Market Value (£m) % Change -0.1 25 It is clear to see that there is a decline within the market.6 168 2017e 654 -2.1 below shows a forecast of Topps Tile‟s and the UK Tile and Wall covering‟s market.4 25. Because of this it is plausible that Topps‟s future sales may not suffer from this market wide decline. Using the objectives set in Section 2.0 164 196 5 206 5 216 5 227 5 12.5 25.7 year on year TT‟s 178 176 forecasted sales* (£m) Target sales N/A 187 (£m) Target year N/A 5 on year % change Difference in N/A 6. and that decline does not appear to be slowing down. .4 28.3 171 2016e 668 -1.3 -0.3 market share *Using % above e=Estimated Source: Keynote.0 174 2015e 679 -1.1 25.

1.1(b) Gap analysis for year 2012 Target: £187m Gap: £11m Forecast: £176m The graph in figure 4. There is a gap of £11m between the targeted and forecasted revenues. which is why the results are different to the analysts‟ expectations set out in Table 2.1(a) Gap analysis graph over the next 5 years. This would inevitably lead to growth within the company and possibly even market wide.1(b) is a sub-gap analysis graph. Target: £227m Gap: £63m 2013 gap: £11m Forecast: £164m The gap analysis was constructed using the market growth data present in Table 4. it shows the gap of the year 2012.6 In order reduce the gap between the forecast and target revenues Topps will need to remain as the market leader and implement the strategies proposed in this section Figure 4.1) shows the gap between the Topps‟s forecasted sales and their target sales from 2012 up to 2017. Figure 4. This analysis was constructed in house. Using this data. . These statistics suggest that for Topps to reach its targets it will need to implement strategies that allow all of the objectives previously mentioned to be fulfilled. we can estimate the Topps Tile forecasted sales for 2013 and the target sales in which will hope to achieve.5.(Figure 4.

to reward customers and thus increase retention of customers Advertising directed at trades people and „DIYers‟ Product Development Offering home consultations to improve customer service Expand the range of products for tradesmen to increase sales Introduce Dulux Paint range into all stores to increase overall sales Expand into the insurance market.  Ansoff Matrix New Products Diversification Expand into the wallpaper market to attract more customers and intern increase sales Expand into the carpet market  Acquisition and Joint Venture By observing current trends in the market it is possible to see whether or not it is worthwhile to acquire another company to venture into other market segments. but the industry sales are increasing 5. if successful.2 shows the objectives that should be focused on when looking at increasing growth over 2013. I.1.2) illustrates the strategies that to be implemented within Topps Tiles 2013 marketing plan in order to achieve the objectives set for 2013 and beyond.5m £3. With a split focus throughout each quadrant of the matrix it would be assumed that each strategy. Using information taken from Keynote (2012) the following figures can be assumed.0m £2.5.5m £4.e.0m *Acquisition strategy not likely to happen in 2013.2 New Markets Existing Products Market Development   Expand the brand into Ireland. broadening the customer base. Topps Tiles customers tend be between the ages of 25-54 (Alliance and Leicester. should gain enough revenue to get closer to the £187m target revenue set in Table 4. Bathstore or CarpetRight.2 Ansoff Matrix (Figure 4. 2012) with customers over the .0m £13. leading to increase in sales    Figure 4. by offering low prices for insurance contractors. with 20 million „DIYer‟ in the UK last year there is still strong prospects for the market.*      Existing Markets Market Penetration  Improving the range of tiles and wooden flooring by constantly evaluating trends to keep up with customer tastes Build on Topps‟s core principal of offering value for money Bring in a loyalty card scheme. Expanding distribution channels. Figure 4. with the market currently being researched to assess the feasibility of this.3 Market Segmentation Currently Topps Tiles primary customer base are home owners looking to conduct a form of DIY on their property.0m £1. Market Development Diversification Market Penetration Product Development Acquisition or Joint Venture* Total £2.

tile accessories & room accessories. room accessories. 5. which is viewed by around million people and appears on early morning TV. This has come in the form of the sponsorship of channel 4 Weather. low price) Nectar card Loyalty B&Q club While all 3 competitors have very similar demographics and offer very similar products. Over recent years Topps‟s has put a greater emphasis on its trade products.3 Demographic Number of stores in UK User Status Product Competitor segmentation Topps Tiles 25-54 306 Homeowners & Tradesmen Tiles. and has recently signed up to sponsor ITV‟s Daybreak weather. curtains. (Mid quality. trades people with the emphasis on Tillers and flooring specialists. This together with the factors mentioned in section 4.3 shows how Topps compares its main competition.2 will benefit the company‟s future and make growth more likely. curtains. This will cause the store to split into two different customer segments. Dulux and tiles that appeal to tradesmen. Topps is different enough with its focus on tiles to differentiate itself from the competition. The aim to catch the attention of views interested in seeing the weather forecast before heading off to work. B&Q 30-70 (focus on older people) 321 Homeowners & Tradesmen DIY tools. (Mid quality.3. midprice) None at present. tiles. carpets.4 Product With the main objectives of Topps Tiles revolving around releasing more diverse product ranges. carpets. particularly Tillers and Flooring specialists. tiles. 2010) Topps has targeted this audience using a range media. Table 4. Another form of media Topps has used to appeal to customers is TV advertisement. which was released two such advertisements emphasis there low prices across their whole range of products (Topps Tiles. (High quality. low price Diamond card (For over 60s) Homebase 25-54 300+ Homeowners DIY tools. B&Q and Homebase. due to the products ranged offered by Topps. 2012) Topps Tiles secondary customers would be traders. to appeal to the older audience. room accessories. 5. such as. however this will also appeal to the .ages of 38 the largest group. the average first time buyer (independent.1 Competition Segmentation Table 4. using in store advertising and also offering trade prices.

They can do this through all number of means. Another of the objectives set by in section 3 revolves around the selection of tiles available being constantly updated by removing undesirable products from the catalogue. Topps should adopt the promo model if it wants to attract sales. In order to allow this strategy to thrive. Ideally the product ranges would be very similar to keep costs down. The other half will cater for „DIYers‟. this is their main way of selling goods to customers. Diversification and Market Penetration are the two main areas that Topps will need to focus on. confirming the consumer‟s needs. place additional products infront of customers. It would be obvious to apply the learnings from this study to Topps. it is difficult to compile the information into the Boston Matrix framework. This is because not only will the products be constantly changing.5 Pricing In order to achieve the objective set in section 2. Collecting customer info after a purchase would imply a follow up visit. which shows the Brighton store. (B&Q. however they could be branded towards the different segments. but the consumer trends will change both over time and from customer to customer. Price perception will mean that the consumer will believe they are getting more for their money. if they choose to implement the above strategies there is a very high chance that those areas of the matrix will be fulfilled. This will ensure that the only products available are the ones that will sell. It is easy to find a store through their website. but the brand. with each store having it‟s own webpage. Due to the vast amount of products that Topps sells. As pointed out by the Ansoff matrix in figure 4. 5. These are all likely to also increase the customer satisfaction. With costs of moving from EDLP to Promo being cheaper than vice vesa. such as Homebase and B&Q.2. A study published by Stanford Business School (Nair. making it an experience. collecting customer info and standing out from the competition.average builder and renovator. through how they are displayed both in store and online. Which does make it harder to assume which strategy is best for the company.5. 2012) 5. and providing larger revenues. as seen in Figure 5.6 Distribution Topps have 307 stores nationwide. . Currently the stores appear to be located in trading estates. Topps will need to increase their price perception. 2011) found out that Promo (promotional) attracts more customers than EDLP (everyday low prices). Topps are required to continue researching the trends in the markets (both consumer and trade markets). creating loyalty. Because of this Topps‟sss should focus on marketing products in store rather than externally through adverts. The limitation with Topps Tiles is that it is hard for the marketing to be aimed directly at products. This strategy is implemented throughout the companies in the market. it is the obvious direction to move in.

1 Advertising Advertising will be crucial in this year‟s marking plan. this will also advertise their brand through the logo being placed on the delivery vans. as Topps looks to expand on the current market. The strategy for the coming year in terms of advertisement. (However it it the same for every store. 5. . They can also expand their channels by creating autonomy within the business.Figure 5. (i. By having their own delivery network. just changing the name and store name) Tiles can be extremely This shows the store rating. and it would increase the brand awareness (Neighbours of the customers would see Topps Tiles vans down their road). it will result in an increase in distribution channels. will be to use a number of sources to raise brand awareness not only to „DIYers‟ but also traders. if a store is out of stock of a certain tile. However it is worthwhile for them to take the opportunity.7. with a segment written by the manager. It would seem illogical to not utilize this ability. Source: having their own They can expand their company by Topps Tiles (2013) delivery company for home deliveries. and by following the personal touch mentioned earlier they can add value by giving details of who is seeing them for the consultancy through the booking confirmation. from customer feedback Topps successful if they What this distribution store reform their systems. Topps Tiles lacks a home consultancy service. Topps should also use online booking to book appointments as well as in store. „You will be seen by David at 13:00 on 13/03/2013‟ this is bound to create price perception at minimal cost.e. which meets one of the objectives set in section 2.7 Strategic Marcoms and Relationship Marketing 5.5 Brighton Store Webpage Link that sends visitors to another page. With negative feedback to help from Map coming offers the 3rd party delivery find the store company they‟re using via forums. which is why they may choose to pass on this. It is another way to reach the customer. This will mean uses advertisement effectively as it can be costly but very effective at increasing brand awareness. to achieve maximum ROI on the marketing budget.g. they can order the tiles in from the nearest store at the convenience of the customer). It would cost a lot to start this venture up though. e. for a personal touch. store to store. and yet it has the devices to have one.

as the ROI on marketing is maximized due to the projected being aimed at the target market The projects will also include helping existing and potential Traders across the whole board. By targeting this particular market. This will be calculated using a new database system that will be developed in the coming year. This will help to expand Topps‟ customer base. as a trial of the new loyalty card scheme set out in these years‟ objectives. 2006).7. This will help drive up customer purchase and increase loyalty as customers will want to use the points to obtain a discount. Because of this they should make sure that the strategies used encourage customer retention. this will involve activity getting Topps Tiles customer base involved in certain aspect of the building world.3 Direct Marketing In this year‟s plan. These points can then be used to get money off a range of products. we hope to expand on our current target market of „DIYers‟ in an effort to increase sales and market share This year is also an exciting year. A new approach to public relations is now needed. builders and flooring specialist. The data stored will also prove useful for the marketing department in assessing what they are purchasing and when. as well as support through the existing Topps approved fitters‟ scheme. 5. by marketing products particularly suited to a certain group. The scheme will involve awarding customers with point every time they purchase a product. will be used in a number of stores in the hope of increasing brand loyalty amongst Topps‟ entire customer base. which has been used over the past couple of years to increase brand perception. The project will help by giving traders our expertise and knowledge of the market. this means tillers. These factors are likely to retain customers if executed correctly and according to Payne‟s research.8 Relationship Marketing As previously mentioned. which is currently „DIYers‟.5.7. “Most companies‟ marketing effort is focused on getting customers with little attention paid to keeping them” (Payne. although this has been arguably successful. in this case traders across the whole board. retention is often neglected.2 Public Relations Topps Tiles has a good community help scheme. we hope to use the existing database to increase Topps tiles reach. provide higher revenues for the company. which can then be used to configure stores to maximize appeal to the customer and increase sales 5. By teaching the public how to conduct a simple form of DIY will increase brand perception and also increase band awareness. The products that will be discounted will be items that will be most appealing to the customers. . it is key for Topps to retain customers.

and increase brand perception of Topps 5. by offering products that customer wants. Wickes etc.550) Market Research will have 5% of the total marketing budget allocated for next year.3 Distribution Store/Web exclusive content and product previews will help customers to find exactly what as well as help if they have any issues. a Loyalty schemes a will help tailor products sales to the consumer. which as stated before can attract customers in through one item for them to buy another item while in the shop 5. The scheme will also help build up a relationship with the customer as they feel there needs are being met. Topps needs to attract more customers in.8. as they feel they get what they want Cross selling (selling additional products) to increase sales.2 Pricing By bring in price incentives. something which our competition lacks 5. This gives customers the peace of mind that they can test the product out before taking it home.8.8. This diversification can be seen in Topps Tiles competitors.8.000) This will focus on the key points set out in the objectives for 2013 . This strategy will be to show customers our price promise scheme and also shows customers our expertise within the market.5. By selling a range of products customers feel they can get all there „wants‟ from one place. as Customers feel they are getting more for their money. The aim is to attract customers that would otherwise shop at B&Q. This will help build on brand perception and awareness 6 MARKET RESEARCH (5% of the Marketing Budget: £275.1 Product Allowing customization to the order to maximize the appeal to the customer. This will show customers the quality of products that Topps processes. This money will be used to fund research into looking at a number of areas set out in the objectives for 2013 6.4 Promotion As stated in the strategic marcoms.1 Product Research (£90. this will hopefully increase spending.

removing any products that are outdated to clear up warehouse space and save money. This data can then be used to enhance the shopping experience for all customers 7 MARKETING TACTICS The section below will outline the key tactics that will be implemented in order for Topps to achieve its strategy and in turn its objectives.3 Database (£65. to provide a more detailed outlook of Topps Tiles customers. e.2 Distribution Research (£120. Wickes. which will be deducted from the remaining market budget . The section will explore the cost of such tactics.  Research the idea of offering home consultations. as well as the benefits and drawbacks 6. Using the database. targeted advertising can be used which will better appeal to the customer. Current Data stored can also be used to better understand customers‟ shopping habits. This will improve the product range and bring Topps into competition with other rivals.g. Research into new tile and flooring designs that will appeal to the trade as well as the public in the coming year to keep up with trends and stay ahead of the competition  Analysis the results from the Dulux trial to determine the success of placing it in all 306 stores. The new database can be used in conjunction with what hopes to be a successful launch of a loyalty card system. where a trained professional will be able to give a more comprehensive opinion  Look into setting up a loyalty card scheme.000)  Research the prospect of expanding into Ireland to determine the success of opening the first stores within 5 years.550) Update and enhance the current database used. the costs of setting up such a system. B&Q and Homebase  Look into the current product portfolio. with the hope of increasing profit 6.

000 5.000 20.000 60.000 10.000 40.000 240.125 60.000 10.000 30.000 40.000 150.000 20.000 Newspaper Advertisement 150.000 20.000 40.000 20.000 20.000 25.000 Sep-13 22.1 also shows where the money is being allocated to within the marketing department.35% 8.000 30.125 Jun-13 22.000 17.1 2013 Figures (£) Tactics Market Research Marketing Mix Breakdown for the year beginning February Month Jul-13 Aug-13 22.18% 0.000 150.1 Marketing Mix Table 7.000 40.000 20.1) shows how much is being spent each month and where Table 7.125 60.000 10.000 20.000 10.000 25.000 40.000 20.71% 6.7.000 40.000 20.000 20.000 30.000 20.000 5.000 150. to make it clearer to assess where the marketing budget is being spent and (Graph 5.71% 2. but have been comprehensively researched to make the numbers as accurate as possible Table 7.125 60.625 414.000 20.000 60.1 shows the breakdown of the costs of the tactics that will be implemented over the coming year.000 20.000 40.000 20.000 150.000 20.000 20.000 15.000 30.000 30.125 22.000 20.000 Total % of Budget 265.125 120.000 10.000 10.000 40.000 120.000 20.35% 4.000 22.000 30.000 10.000 20.000 30.000 10.000 Traders magazines 5.000 25.18% 4.000 30. (Figure 5.625 352.000 5.000 5.000 25.98% 32.125 422.000 5.000 5.000 150.000 360.000 150. e. Advertisement.000 40.000 25.64% - - - - - - - - - - - - 540.125 422.000 40.000 25.125 22.000 100.000 240.125 422.625 352.000 40.000 Marcoms Public Relations Direct Marketing Product 25.125 414.000 480.000 150.000 9.000 5.000 40.125 482.000 1.000 40.000 5.000 150.000 30.000 10.000 10.000 5.125 422.000 20.000 Oct-13 Nov-13 22.000 Topps Tiles Website DIY Videos Trade Events DIY Events Sponsorships Brochure In store advertisement Continguency Planning 10.125 Dec-13 22.000 30.125 60.500 17.125 422.000 60.000 60.09% 8. The costs are only estimates.000 10.000 4.000 Radio 40.125 Jan-14 22.000 40.80% Estimated Expenditure 492.000 150.66% 1.000 5.000 40.000 40.53% Advertisement TV Advertisement 120.000 480.125 Apr-13 May-13 22.000 10.125 22.000 20.000 40.125 5.00% .000 20.g.500 15.000 5.000 150.500 15.500 660.000 150.82% 11.000 255.000 40.000 30.000 Feb-13 Mar-13 22.1) shows the total allocation of these funds in value and percentage.000 40.500 4.000 20.125 352.800.000 40.511.000 40.000 30.000 20.000 10.000 40.000 40.

17% 3. 5% Market Reaserch 360. This is due to the lower DIY activity taking place in the three months.000 .000 .500 .500 .130.000 500. which is why marketing spending is lower.000 - (Graph 5. This is to prepare for the Homebuyers season in the spring and the DIY season which occurs in spring and runs till the end of summer. 5% Graph 7.000 300.1) shows slight rises in the months of February and June as these are the month chosen for a new TV advertisement to be developed. January is spending slightly increases to prepare for homebuyers season in the spring .000 . This would also explain the high costs associated to attract more customers. 57% Direct Marketing Product Contingency planning 265.1 Month by Month Spending Marketing Budget: Total Monthly Spend 600. 6% Advertsing Public Relations 960.Figure 7.000 100. compared to the months of October to December. 10% 255.000 .000 400.000 200.1 Market Budget Allocations Marketing Budget Allocation for 2013 540.

800.000 each week (Marketing Minefield. which means they have an interest in the adverts placed. newspaper attracting millions.000 An effective newspaper advert can go a long way with today‟s newspaper readership. 2013).000 Advertising in trade magazines is an effective marketing campaign as they can be relatively inexpensive but highly successful due to the readers belonging to the target market. attracting skilled tradesmen and lower. as most adults work during the day and finish late afternoon. This means getting great value for money while also targeting a very viable target market with possible 10. 2012b) with a high proportion of readers belonging to ABC1C2 Adult category. The plan is to place adverts in several well respected magazines.000.£660. early evening. The adverts will run from February to May and June to September and will emphasis the value that can be added to property from a little form of DIY and also the ease of conducting DIY. to upper classes of society. 2012) c) Trade Magazines – £60.000 Topps has a history using the media of TV to attract customers.2 Advertisement . 2013) b) Newspaper Advertisement . with around 35% of likely to decorate their property (TalkTalk. The plan for 2013 is to release a full page advert into the Sun on Sunday every week costing £30. there is a plan to advertise in a number of newspapers in the East midlands areas. However trade magazines are far less expensive due to the .£1. 2012) with £60. this need to be expanded on to drive up sales and thus increase Topps‟s market share. The months chosen are relatively inexpensive compared to the rest of the year (Channel 5.000 impacts. Furthermore.000 being spent on each advert. DIY over the next. Each magazine will have an advert placed every week.130. this will make the adverts are effective across a more polarized market. The adverts will run mainly during the evenings to make sure the advert is attract the right target audience. The proposal is to make a new advert is the months of February to prepare for home buying season in spring and in in June for the summer months when people are most likely to conduct a form of DIY (TalkTalk. 2013) The Sunday Sun being chosen as it has a readership of around 2 million (Guardian. which would represent a large proportion of Topps target marketing. flooring specialists and builders in general.000 (57% of the Total Marketing Budget) a) TV Advertisement .£3. The figures for the market budget had been researched and obtained from a TV advertising source to make sure the budget is as accurate as possible (TV Advertising. These groups are most likely to conduct some form of DIY or buy Topps‟s products for work purposes.7. with the hope of increasing the effectiveness of the campaign. similar to the newspaper campaign. that are read by tillers. which is projected to spend the most on.

3 Public Relations . help can be a valuable tool to increase the preiced value of Topps brand name. and is relatively inexpensive compared to other forms of the marketing mix . The cost of this campaign will be relatively inexpensive compared to other forms of advertisement but can be very effective if used in the correct way (Radio Advertising. Websites can also be relatively inexpensive to run as they automated.000 (17% of the Total Marketing Budget) Public relations is vital is building Topps Tiles brand name. especially around the East Midlands area. 2012) This shows the number of potential customers a website can reach.lower readership. With the use of the videos and a glossary to help even the most amateur „DIYer‟ to understand the vocabulary used in the trade. proving to be a valuable tool in attracting both market segments.000 Radio is an effective tool in some circumstances.000 With Topps Tiles primary market consisting of „DIYer‟ many of which most likely to be inexperienced.£10. The website also means the Topps is effectively open 24 hours 7 days a week. This may help persuade people to conduct a form of DIY themselves rather than employ tradesmen. 2012) d) Radio . This will help drive up sales and a good user friendly site will help increase the net promoter score f) DIY Videos . as people listen cannot skip the adverts or confined to a car where they have to listen to the adverts. meaning customers can have access to Topps Tiles product all year round.000 A website is a very effective tool in today‟s society and is something of a must have. the hope is that customers will benefit from this greatly helping to pushing up Topps‟s net promoter score 7.£480. The proposal is to expand on these videos. so much of the work can be done by just a few people. 2012) e) Website . The proposal for 2013 is to advertise on a number of key regional stations. There is already a range of videos advertised on the websites which show how to conduct a range of DIY solutions on your property. but this is made up for with the proportion of readers who fall into the target market category (Marketing Minefield. This advertise would not only be effective it attracting the attention of the „DIYer‟ But also tradesmen who listen to the radio while they would.£960. to make DIY easier and thus attracting for more people. expanding the companies reach.£120. with over 2 billion people worldwide accessing the internet (Internet World Statistics. running the website and distribution.

This sponsorship deal would guarantee to attract both forms of customer making it excellent value for money 7. this will be very similar . with the hope of implanting the Topps Tiles brand name within the customer head to enhance the perceived value of the Topps Tile brand name. There will also be a trade brochure which will be sent to every Topps registered traders home using the existing database. The proposal for 2013 is to release a brand new brochure. As well as how to tile correctly and the benefits of cosmetic enhancements on house prices and how inexpensive it is compared to hiring a tradesman c) Sponsorships . The Trade events will be used to endorse Topps‟s brand name and will incorporate a number of aspects including why buy from Topps Tiles? And what are the benefits to the trader? Gathering local traders‟ details to add to Topps‟s database. with dates and locations of the DIY events.£360. Topps needs to expand on its range of sponsorship to attract the right target market. The event will teach the event goers different forms of DIY.4 Direct Marketing . Move over the channels are also watched by keen tradesmen who learn new designs and ideas. This is why a sponsorship deal with sky on its living channel section would be great for Topps as they attract large numbers and are watched by people interest in making small or large changes to their own property.£240.000 Topps tiles has sponsored Channels 4 weather report in 2012 and is now going to sponsor ITV‟s daybreak weather report in 2013 (Topps Tiles. this can then be passed onto customers to complete building work.000 DIY events will be held in very much the same way as the trade events. The events will also help endorse people who are looking to move into a trade position. handy tips for keen „DIYers‟.£480.000 Trade events will be held weekly. news and events. using Topps‟s vast knowledge and expertise to help find training course and credible apprenticeship schemes.£240. from repairing a cracked tile to replacing a broken floor board.a) Trade Events . in a new town. which will include in it a product list with prices. Furthermore the event will also be open to people looking to make career working for Topps Tiles b) DIY Events .000 (17% of the Total Marketing Budget) a) Brochures – £360. The DIY events will emphasis the ease DIY. occurring within a different region as the trade events to reduce conflict.000 Brochures are used by many large retailers to advertise the products they stock. This will maximize the number of traders Topps will come across. and a price comparison with Topps‟s „lowest price guarantee‟. 2013). The brochures will be available in stores for customers to pick up as they exit the store.

4 Topps Tile Brochure Source: http://www.to the normal brochure.£255. The hope as well is to be able use the brochure system in conjunction with the loyalty card system when introduced in the coming years Figure 7.6 Month by Month Marketing Tactics Month by Month Marketing Tactics Table 7. The displays will advertise a number of deals and also to emphasis the new range of Dulux paint that will be stocked. The advert will explain how a „little bit of DIY‟ can increase the value of the property.125  Start the research projects set out in the market research section  To produce an advert aimed at homeowners looking to sell their property.(17% of the Total Marketing Budget) a) In Store Advertisement . for home buyer‟s season in the spring.php 7. as Topps attracts a new range of customers. displays stands and banners will be placed in every store.inthewhiteroom. This will help Topps to achieve high sales. While also raising brand awareness . the only difference being the prices and the location and dates of trade events instead of DIY.5 Product . particularly painters and decorators 7.com/brand-marketing/portfolio-topps-tiles.500 To maximize the customer awareness of Topps‟s product range.6 February 2013 Monthly spend: £492.

125  Continue with the research projects set out in the market research section  Continuation of the tactics used in February. and a number of regional newspapers (Midlands. one for the Trade events and the other for the DIY events. Once these teams are fully trained they will be sent out around the country stopping at major towns and cities To contact a number of home improvement networks about sponsoring there TV program To produce a new brochure To produce a new in store advertisement board and banner to announce the availability of the Dulux paint range March 2013 Monthly Spend: £422. due to the higher DIY expenditure in this region) every week throughout the year to raise brand awareness amongst Traders and „DIYers‟ with the latest deals To produce a radio advert aimed at increasing brand awareness among traders Produce an advert aimed at traders. with emphasis on raising brand awareness ready for the Home Buying season April 2013 Monthly Spend: £422. especially tillers. with emphasis on raising brand awareness ready for the Home Buying season June 2013 Monthly Spend: £482.         for Topps Tiles To produce a full page newspaper advert to be placed in the Sunday sun.125  Continue with the research projects set out in the market research section . to be placed in a number of trade magazines throughout the country To continue use of Topps Tiles website.125  Continue with the research projects set out in the market research section  Continuation of the tactics used in February. by maintain and update continuously To produce a new set of „how to‟ DIY adverts to be placed on Topps Tiles website To ensemble two teams. with emphasis on raising brand awareness ready for the Home Buying season May 2013 Monthly Spend: £422.125  Continue with the research projects set out in the market research section  Continuation of the tactics used in February.

with the home buyer‟s season now over. newspapers and trade magazines. The advert will show how easy some forms of DIY can be. as Topps tries to counteract this fall in demand with demand in the trade sector.625  Continue with the research projects set out in the market research section  Pull the TV advertisements. as demand for DIY products fall. Continuation of the tactics used in February  To produce a new TV advertisement for aimed at people conducting a form of DIY.125  Continue with the research projects set out in the market research section  Continuation of the tactics used in February  Continuation of the TV advert released in June aimed at „DIYer‟ August 2013 Monthly Spend: £422. While emphasizing the Topps brand name at the same time July 2013 Monthly Spend: £422. to encourage more Britons to conduct a form of DIY.125  Continue with the research projects set out in the market research section  Continuation of the tactics used in February  Continuation of the TV advert released in June aimed at „DIYer‟  Reduce the amount of spending on instore advertisement as people spend less money on DIY around this period as they save for Christmas October 2013 Monthly Spend: £352. However keep current spending levels for radio.125  Continue with the research projects set out in the market research section  Continuation of the tactics used in February  Continuation of the TV advert released in June aimed at „DIYer‟ September 2013 Monthly Spend: £414. who work all year round  Drop in store advertising levels further for the autumn and winter periods .

Table 7 The Balanced Scorecard . while maximizing brand awareness. newspaper and trade magazine advertisement.November 2013 Monthly Spend: £352.6 shows the tactics that will be implemented each month. being too risky at this time in the current economic situation with large high street shops closing down. with an emphasis on certain periods of the year when demand is likely to be higher. A new advertisement will be made in February after a new marketing budget is agreed Table 7. 8 Controls Using the Balanced Scorecard framework. depending on sales results for this year  Run a previous year‟s TV advertisement shot in February ready for the home buyer‟s season. with the emphasis on keeping cost and risk low. This is why the marketing plan has taken a more conservative approach. Analyze sales results from stores in the areas they visited to assess the impact they had  Increase in store advertisement back to September levels ready for an increase in spending in February. newspaper and trade magazine advertisement. Although the tactics do seem bland.125  Analyze the results from the various research projects. ready for the result to be analyzed in January  Continuation of the radio. Large amounts of spending and risky projects would not seem to be the most appropriate course of action. emphasizing discounts on trade items as Topps tries to counteract a drop in sales in DIY December 2013 Monthly Spend: £352. Ready to be published for the following years marketing plan  Bring back both sets of teams. emphasizing discounts on trade items as Topps tries to counteract a drop in sales in DIY January 2013 Monthly Spend: £414. Topps Tiles can measure various objectives and implement tactics that should help achieve those objectives. set out in the market research.625  Start to conclude the research projects.625  Continue with the research projects set out in the market research section  Continuation of the radio. This framework can be seen in table 7. from the DIY and Trade events.

cost/benefit analysis.Objective To Increase Revenue Measure Sales Revenue Target 5% year on year Financial To Reduce Debts Total Debt* £5m reduction each year Customer To Increase Customer Loyalty Net Promoter Score 1% increase each year with a goal of 95% in 2018 115 days To Reduce Inventory Days Internal Business Process Number of Inventory Days Learning and Growth To Increase Brand Awareness Expansion Brand Exposure Analysis results 10% increase each year Initiatives Increased market spend on trade market. Online exclusive offers. TV adverts. Restructure liabilities (exchange for lower interest loans) Loyalty card aimed at traders with discounts for repeat visits Reduce the price of the tiles that are not selling. 9 Contingency Planning Having a contingency plan is vital in making sure that the company is prepared for future events that may have a negative impact on Topps Tiles in some way. *Total debt can be found in Appendix 1. Trade shows Expansion into Researching Ireland Irish market. Donating to community. crossselling (bundle deals) Obtaining business grants (being green). The plan will involve analyzing different Scenarios that could affect Topps‟s and how to overcome these problems should they come to fruition. which may damage Topps‟s significantly . This will reduce the negative impact a scenario will have on the Topps Tiles.

(2011) Carpetright issues warning as sales sink [Online] <http://www. to be used if sales continue to stagnant. e. C. as the price of an individual tile increases. to reduce the impact on sales Price the tiles according to what the competition do. Don‟t increase the price if the competition doesn‟t as it may damage the brand name Have spare cash available to be able to overcome the lower gross profit margins which may lead to lower profit Increase the marketing budget. do nothing.com/diy/jsp/bq/account/design_consultation. or if they do nothing.jsp> (Accessed 17th January 2013) . as tiles did A natural disaster affects the mining of clay sending up the price Contingency Plan The impact on Topps Tiles This would impact Topps‟s profit. which sets a new trend in the market. The price of Tiles needs to be lower than what the competition are selling it for.diy.ft. to aggressively advertise and sway the public opinion towards Topps‟s brand name Research the reason behind the lack of sales. This may also lead to lower profit. with the money to be invested in increasing brand awareness and to be able to survive while the underlying problem is affecting sales A new entrant to either the Tile or wooden flooring market Lower than expected sales Sales may be hit hardest. to see where money can be saved while sales stagnate.(Table 9) shows a number of different scenarios which could affect Topps within the next year Table 9 Scenario A new product is released.html#axzz2HwKbMtfS> (Accessed 4th January 2013) B&Q (2013) Book a design consultation [Online] <https://www. Don‟t be too hasty though as profit is still strong with current sales Reserve some cash.com/cms/s/0/ba397d7e-2e28-11e0-873300144feabdc0.g. as operating profit declines Contingency Plan To be able to adopt a new product into Topps‟s range within a short time. with Topps Price promise. Look at expanding the marketing budget for the next year to increase brand awareness or look at cut backs. as sales of Tiles and/or wooden flooring decline This would affect gross profit margins. depend on the public‟s opinion of the new brand Profits will most likely decline 10 References Barrett.

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