Aspects of the Marketing Plan- Report

Added on -2020-02-24

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RUNNING HEAD: MARKETING & ENTREPRENEURSHIP
0
Marketing &
Entrepreneurship
Woolworths
MARKETING & ENTREPRENEURSHIP
1
Table of Contents
Introduction........................................................................................................... 2
Company Background & Products description.......................................................2
SWOT analysis....................................................................................................... 2
Marketing objectives.............................................................................................. 4
Target Market........................................................................................................ 4
Marketing strategy................................................................................................ 5
Marketing Mix........................................................................................................ 5
Recommendations................................................................................................. 6
Conclusion............................................................................................................. 7
References............................................................................................................. 8
MARKETING & ENTREPRENEURSHIP
2
Introduction
Marketing can be defined as a business function that deals with the customer. It aims at
creating, communicating and delivering superior value to the consumer. It enhances customer
relationship to create mutual benefit for the companies and customers. A marketing plan can
be described as a comprehensive document containing information about marketing
objectives, current opportunities and threats in the marketing, trends prevailing in the market
and intended marketing strategy of the firm. The knowledge gained from the market analysis
should be demonstrated in the marketing plan of the firm (Kotler, et al., 2015). This report
analyses key aspects of the marketing plan of the supermarket division of Woolworth Group
Australia.s
Company Background & Products description
Woolworths Australia is one of the leading companies in Australia. It has the presence over
Australian and News land markets. The company was established in 1924 by Percy
Christmas, Stanley Chatterton, George Street, Cecil Scott Waine and Ernest Williams.
Woolworth group own some of the most trusted brands in the nation. These brands are
majorly classified under three segments Woolworths food group, endeavour drinks and
portfolio business. The company has a team of 205,000 members to serve approximately 29
million customers worldwide (Woolworths, 2017). Woolworth’s supermarket is a major
business division of the company, with 955 stores in the largest supermarket chain in the
country. The company provides fresh foods to customers with partnering from Australian
farmers and growers (Woolworths, 2017). The supermarket consists of a variety of products.
Major product segmentation of the company includes fruits & vegetables, meat & seafood,
bakery products, dairy products & eggs, pantry, freezer, drinks, liquor, tobacco, pet, baby,
health & beauty and household (Woolworths, 2017).The company keeps on upgrading
project portfolio satisfying its customers.
SWOT analysis
SWOT can be defined as strategic analysis and strategy development framework. SWOT
stands for strengths, weakness, opportunities, and threats (Ferrell and Hartline, 2010). SWOT
analysis for Woolworth is done as follows:
MARKETING & ENTREPRENEURSHIP
3
Strengths
The key strengths of the company are listed as follows:
Established in Australia since a very long time
Woolworths is present in the Australian markets for over 90 years. It is the major strength of
the company. Being the market player since a long time the company holds details about
Australian markets and consumers.
Talented & Skilled workforce
The company has a strong database of a talented workforce. It has a team of around 205,000
skilled and talented employees.
Good Reputation
The company has a well-developed brand image. Woolworths is a popular name in
Australian households. The company’s objective to provide fresh food produced by locals
also adds to the brand recognition of the company. The company is also engaged in various
CSR activities for the development of communities, which lays a positive impact on the
brand image of the company.
Big market share
Woolworths and Coles are two major market players of the Australian markets. They occupy
almost 80 per cent of the market together in the year 2013 (Mortimer, 2013). It is a kind of
duopoly in the Australian markets.
Wide variety of products and services
The company has a diverse product portfolio that it offers to the customers. It keeps on
making alternations to the product and services according to the changes in customer
preferences.
Weakness
Although the company does not have many weaknesses few weaknesses of the company are
listed below:

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