The Importance of Marketing in Woolworths Ltd

The assignment content discusses the concept and process of marketing, its importance, and the change in perception. The report highlights Woolworths Ltd as a major retailer company in Australia and New Zealand, emphasizing the significance of marketing in their expansion and growth. The discussion also covers various marketing concepts, including production, product, selling, and marketing concepts, and how they are applied by organizations to achieve their objectives.

DISCUSSION FORUM POST

Table of Contents
INTRODUCTION.........................................................................................................................1
a) Concept and process of Marketing..........................................................................................1
b) Importance of Marketing.........................................................................................................2
c) Change in perception.................................................................................................................2
CONCLUSION..............................................................................................................................2
REFERENCES................................................................................................................................3

INTRODUCTION
Marketing is an activity, which is associated with buyer and seller. It includes
advertising, selling and delivering product to costumer. The ultimate goal of marketing is to meet
customer needs and wants, thereby assure profitability, (Dietrich, 2016). In present report
Woolworths Limited has been chosen for further detail. Woolworths Ltd is a major and second
largest retailer company in Australia and New Zealand. In Australia, Woolworths Limited
operates under Woolworths, Countdown (supermarket), Thomas Dux, Food For Less, Flemings,
Petrol- Caltex, BWS, Dan Murphy's, Big W, Home Improvement, and Hotels & Gambling
(Tadajewski and Jones, 2016).
a) Concept and process of Marketing
Marketing is the wide scope of exchange services with the respected features. Marketing
includes buying , selling and delivering of product services to the selected customers. It includes
various concept of marketing, which used to satisfy its organisational objectives. Marketing and
marketing concepts are directly related. (Hollensen, 2015.)
1. Production concept: In this concept customer will refer only those product and services
which are easily available on reasonable cost. Consumers prefer only those products,
which are easily available and inexpensive.
2. Product concept: Customers will buy only those goods and services that have higher
quality as opposed to normal items.
3. Selling concept: consumers will buy products only if the company aggressively promotes
or sell these products.
4. Marketing concept: In this, company only focus on needs / wants of target customers and
delivering better quality services from other competitors. Marketing concept believe in
pull strategy.
Process of Marketing- Firstly understands marketplace and customer’s wants and needs. Then
design a customer-driven marketing strategy along with construct a marketing plan. Then build
profitable relationship with customers, and last create profit and customer equity.
In generally Woolworths followed the proper marketing planning process and follow up
the Marketing concept, where Woolworths newly innovative quality products so the customers
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automatically attract with those products. Along with Woolworths also provide better quality
service product from over the other competitors. (Duliniec, 2015)
b) Importance of Marketing
 Marketing is a very important for the each and every organisation because financial success
often depends on marketing ability. (Vargo, 2014)
 On the basis of Woolworths Ltd marketing helps in expansion and growth in products and
services.
 Marketing aid build unity of command in Woolworths Ltd, so that can be help in achieving
objectives.
 Marketing is helpful in increasing and maintaining the standard of living of the community.
 In Woolworths marketing is helpful to increasing employment in an organisation.
 Marketing helps increase source of income and revenue.
 Woolworths marketing is very helpful in exchange and movement of goods from one place
to another place.
c) Change in perception
As per the above report I learn about marketing concept, where company chose among
these a best one. I discovered importance of marketing for Woolworths Ltd, which also helped
me in getting knowledge about marketing significance. Apart from this among various concepts
organisations use to focus on making there products superior which state that quality of product
are an important concept. I also learn marketing planning process, which are properly followed
by the companies. (Gates, 2013)
CONCLUSION
As per the above report marketing is very essential for the organisation. Marketing
success often depends on proper marketing planning and apply proper concept of marketing in an
organisation. In above report we found that Woolworths Ltd has chosen marketing concept to
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gain the competitive advantage. Those marketing concept is extremely beneficial for the
Woolworths.
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REFERENCES
Tadajewski, M. and Jones, D.B., 2016. Hyper-power, the marketing concept and consumer as
‘boss’. Marketing Theory. 16(4). pp. 513-531.
Hollensen, S., 2015. Marketing management: A relationship approach. Pearson Education.
Kowalik, I. and Duliniec, E., 2015. The Entrepreneurial Marketing Concept and Its Application
by the International New Ventures. Chinese Business Review. 14(5). pp. 253-264.
Lusch, R.F. and Vargo, S.L., 2014. The service-dominant logic of marketing: Dialog, debate,
and directions. Routledge.
McDaniel, C.D. and Gates, R.H., 2013. Marketing Research Essentials 8th Edition. Wiley.