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BUSINESS ENVIRONMENT 1 BUSINESS ENVIRONMENT 3 Business Environment Student by (Name) Institution Executive Summary Woolworth Retails in Australia

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Added on  2020-05-11

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BUSINESS ENVIRONMENT 1 BUSINESS ENVIRONMENT 3 Business Environment Student by (Name) Institution Executive summary The retail industry in Australia has been changing over the past years as a result of influence from external business environment. Woolworth supermarket is one of major retail operators in Australia in has been doing well based on the organizations ability to formulate marketing strategies in relation to their consumer behavior. Executive summary 2 Introduction 3 1.0 Effect of consumer behavior on Woolworth 3 1.1 Social and cultural behavior 3 1.2 Psychological behavior 3 1.3 Age

BUSINESS ENVIRONMENT 1 BUSINESS ENVIRONMENT 3 Business Environment Student by (Name) Institution Executive Summary Woolworth Retails in Australia

   Added on 2020-05-11

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Running head: BUSINESS ENVIRONMENT 1Business EnvironmentStudent by (Name)Institution
BUSINESS ENVIRONMENT 1 BUSINESS ENVIRONMENT 3 Business Environment Student by (Name) Institution Executive Summary Woolworth Retails in Australia_1
BUSINESS ENVIRONMENT 2Executive summary The retail industry in Australia has been changing over the past years as a result ofinfluence from external business environment. Based on this fact, my choice organization isWoolworth retails which has changed much over the time as a result of consumer behavior asone of the major factors within the external business environment. Woolworth supermarket isone of major retail operators in Australia in has been doing well based on the organizationsability to formulate marketing strategies in relation to their consumer behavior. The performanceof and organization therefore depends on the organization’s ability to formulate their marketingstrategies based on the market structure and external business environment. Table of ContentsExecutive summary.........................................................................................................................2Introduction......................................................................................................................................31.0 Effect of consumer behavior on Woolworth.............................................................................31.1 Social and cultural behavior...................................................................................................31.2 Psychological behavior..........................................................................................................31.3 Age of consumers...................................................................................................................42.0 Woolworth’s economic environment........................................................................................4Conclusion.......................................................................................................................................5Reference.........................................................................................................................................6
BUSINESS ENVIRONMENT 1 BUSINESS ENVIRONMENT 3 Business Environment Student by (Name) Institution Executive Summary Woolworth Retails in Australia_2
BUSINESS ENVIRONMENT 3Introduction According to various sources, for any business organization such Woolworth toeffectively sell their products and remain at the top of an industry, the organization must andshould have a better understanding of their consumers behavior (Knox, 2016). Consumers’ability to purchase a given product is driven by age, social life, culture as well as psychologicalfactors. The content of this paper therefore discusses the influence of external businessenvironment forces and market structure on Woolworth as an entity.1.0 Effect of consumer behavior on Woolworth 1.1 Social and cultural behavior Woolworth as entity operate in a business environment which is composed on buyerswith different backgrounds thus different cultures. The organization with regards to the culturalcomposition of the market stocks food staff and groceries with regards to the diverse cultures inAustralia. Some of the consumers do not consume some of the products based on their culture.The business based on the cultural diversity stocks varied types of food consumed by all theirconsumers and this has helped the organization to stand on top of other firms (Knox, 2016). Mostof the consumers in the world today make purchases based on cultural trends and this affectsorganization which cannot keep up with trends such as Woolworth. 1.2 Psychological behavior The ability of consumers in a given market to develop a purchasing behavior isinfluenced by motivation which is a psychological factor. When a brand is negatively perceivedby consumers’ sales of such a product will be low (Pailwar, 2011). Woolworth being a large
BUSINESS ENVIRONMENT 1 BUSINESS ENVIRONMENT 3 Business Environment Student by (Name) Institution Executive Summary Woolworth Retails in Australia_3

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