Marketing and Entrepreneurship Woolworths Ltd

Marketing and
Entrepreneurship

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
TASK ..............................................................................................................................................1
Company Background............................................................................................................1
Situation Analysis...................................................................................................................3
Marketing Objectives.............................................................................................................6
Segmentation, Targeting and Positioning...............................................................................7
Marketing Strategy.................................................................................................................7
Evaluation and Control...........................................................................................................9
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing and entrepreneurship both are the terms which state about innovation,
creativity and ways to grow. The whole sole difference between these two words is that an
entrepreneur uses marketing as a tool to influence customers and grow his own business. Today,
each and every company in the world is investing a lot of resources on marketing to gain higher
market share and competitive edge over others. With the rise in entrepreneurship and scarcity of
feasible opportunities, it has become very difficult for organisations to grow (Cronin and et. al.,
2011). This is where managers use marketing as it enables them in influencing the market forces
as well as customers. It allows them in attracting investment and in boosting their sales. So, it is
important for business to use marketing carefully.
This report is based on Woolworths LTD which is the largest supermarket chain in
Australia. It is currently operating in New Zealand. In this assignment, marketing plan of
selected organisation will be stated. It will be critically analysed to understand how it enables
organisation in achieving the set targets effectively.
TASK
Company Background
Woolworth was found in the year 1924 and today, it is the largest supermarket retailer in
Australia. Company started dealing in the food sector around 60 years ago with the advancement
in refrigeration technology. It is known to own almost 40% of total market share which amounts
to total of $82 billion (sector). Today, company has diversified itself and deals in different types
of products and services such as food, liquor (prime goods), fuel, insurance sector, etc. (AFN
Witers, 2015). It have a massive employee strength of 202,000 employees and is currently based
in Bella Vista, Australia. The revenue of company is approximately $59 billion which makes it
the world’s 19th biggest retailing chain. Innovation has always been part of organisation as it was
the very first supermarket store to introduce cash registers that would print out receipts to
customers (Dibb, 2010). Company’s Slogan is, “The Fresh Food for People”. While, it’s USP is
stated to be bringing world class products in every households.
The products of services offered by company is divided into different groups or brands.
This allows customers to explore various segments and find what they wants in comfortable
manner. The prime products offered by company are food and liquor, while it is also selling
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items like petrol, gold, investment, insurance. The brands which are there in company portfolio
are:
The product portfolio that is offered by company from its stores are given below in the
image below (Hanlon and et. al., 2014). They have divided different goods as per the sector, this
assist customers in shopping.
(Source: Woolworth, 2017)
All the products are categorised as per the brands. Woolworth is focused on providing
qualitative goods to customers (Roy Morgan research, 2017). Example of how organisation
offers different goods is stated below.
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Illustration 1: Our brands, Woolworth