Marketing and Management of Woolworth - Report
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Added on 2020-05-28
Marketing and Management of Woolworth - Report
Added on 2020-05-28
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Running head: MARKETING AND MANAGEMENTMarketing and ManagementName of the Student:Name of the University:Author’s Note:
1MARKETING AND MANAGEMENTTable of ContentsIntroduction......................................................................................................................................2Industry trends.................................................................................................................................2Market segments overall..................................................................................................................5Primary segment and decision-making............................................................................................6Competition.....................................................................................................................................7Positioning map for Woolworths...................................................................................................10Conclusion.....................................................................................................................................11References......................................................................................................................................12
2MARKETING AND MANAGEMENTIntroductionMarketing is the key that determines the success of the business organization. Byeffective marketing, the business organizations are able to create a unique image in the eye of thecustomers as well as stand out from the competitors. The marketing and management strategiesdeveloped and implemented by the business organizations ensure growth, profitability, targeting,segmentation and positioning. Effective marketing ensures growth in business, customers andprofit for the business organizations (Armstrong et al., 2015). This report introduces Woolworths, an Australian retail chain by briefly describing the industryof the organization and analysing the current trends. Additionally, the report also investigates themajor market segments of Woolworths and discussing the involvement of primary marketsegment in decision-making. The report also evaluates the strengths and weakness ofWoolworths and compare with the main competitor Coles. Lastly, the report also develops aposition map in order to determine the position of the company in the market. Industry trendsWoolworths is a leading supermarket in Australia established in 1924 and covers almost80% of the Australian market. Woolworths mostly deals with selling groceries but also sellsbeauty products, households, pet products and stationery items. It has over 1000 stores inAustralia with 968 supermarkets and 19 convenience stores. The report suggests thatWoolworths has confirmed sales growth in the industry by 4.7% thereby, estimating $9.63billion in the beginning of 2017. The requirement of the groceries and fast food has risendrastically in the Australian market due to which the sales have grown to $36.37 billion over the
3MARKETING AND MANAGEMENTyear (Arli et al., 2013). The management of the Woolworths is satisfied with the overall salesgrowth of the company but aim towards building the progress in order to maintain their growthand profitability. It has been seen that Woolworths has been growing continuously since 2010and has 37% of Australia’s supermarket whereas Coles has only 31% of Australian market share.It has also been seen that Woolworths has bounced back with $1.5 billion profit in the Australiansupermarkets and has become the star of the profit (Kang & Gray, 2013). The company has alsoopened more convenience stores for the Australian market thereby, ensuring growth andprofitability in the Australian market. The PESTLE analysis of retail in Australia is stated below: Political: The political conditions of a country largely determine the success or failure of anorganization. The retail industry in Australia has maintained its momentum since decades as thecountry has undergone several developments in terms of society and the economy. The politicalcondition of Australia highly affects the retail industry in the country. A stable politicalenvironment is essential for any organization or industry to bloom in a country. The changes inthe policies of the Government highly impacts the organizations present in the country (Sutton-Brady Kamvounias & Taylor, 2015). The retail industry in Australia has witnessed excellentgrowth in the past few years as a result of an increase in the population of the country as well asdue to the increase in the purchasing power of the Australians. The policies developed by theFederal Government in Australia largely determine the success or failure of the retail sector inAustralia. Economic: The economic condition of a country largely determines the success or failure of theorganizations in the country. The price of the property is higher in Australia as compared to the
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