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Assignment Marketing Strategy

   

Added on  2020-05-04

8 Pages1519 Words271 Views
Running head: MARKETING AND STRATEGYMARKETING AND STRATEGY Name of the StudentName of the UniversityAuthor Note

1MARKETING AND STRATEGYCUSTOMER ANALYSISCustomer analysis refers to the critical component of a business plan that attempts todefine the target market of a certain sector of the market. The grocery sector, in this case, catersto all the population of the country. The problems that are created in the informative fields forthe consumers and the retailers depends on the nature of retailing of the grocery. The targetcustomers of the grocery market include citizens belonging to all the age groups. The varioussectors classified in the grocery sector majorly include food, liquor items. The grocery industryin Australia has a wide range of buyers and sellers. The target consumers in the grocery marketof Australia include the total population of the country irrespective of their gender. The industrymay face a duopoly in the future due to the continued dominance of two of the major retailchains that operate within the grocery market of Australia. The target customers of the retailchain include those middle-income households that seek variety, convenience, services anddiscounts (Roberts et al 2015).COMPETITORS ANALYSISThe Australian grocery sector is ruled by a number of companies that deal with packagedgroceries, fresh meat, vegetables and fruits, bakery products, dairy products, eggs and deliproducts. The leading companies majorly fall under the category of the supermarkets and dealswith a variety of products other than the grocery items. Woolworths is a well-known store chainthat deals mainly in the grocery products (Woolworthsgroup.com.au, 2017). The company is alsoknown for its sales in the categories of home and lifestyle products. The company sells itsproducts over both the online stores as well as the stores of brick and mortar (Low 2016). Theretail magnet, Woolworths considers the households belonging to the upper middle class and the

2MARKETING AND STRATEGYpopulation of the country belonging to the working class to be their target customers. Theweaknesses of the grocery sector is that its competitors may encash is its relatively later entry inthe online retail market and the global presence of the company, which may be considerednegligible. The grocery sector has failed to sustain the competitive advantage it had over theother sectors (Woolworthsgroup.com.au, 2017).MARKET ANALYSISMarket analysis refers to the qualitative and quantitative assessment of the concernedmarket. Market analysis helps to look into the market size in terms of both value and volume.According to reports, the grocery sector is considered to have a growth story that has beengrowing stronger than the growth of the sector in the past (Mills 2013). There has been anincrease in the frequency of fresh supplies to the departmental grocery stores in order to increasethe existing customer base. The consumers of the sector are seen to be more interested in thehealthy food items such as the fresh vegetables, fruits and meat. The grocery sector functional inAustralia is undergoing a rapid growth. It is expected to grow at a rate of 35% per annum in thenext fiscal year (Swoboda, Elsner and Olejnik 2015). ENVIRONMENTAL ANALYSISThe Porter Five Forces model focusses on the ways how a company may build acompetitive advantage in the retailing industry of food and beverage that would be sustainable(Röttcher 2013; Swoboda, Elsner and Olejnik 2015). The new entrants in the industry have a lowpricing strategy, reduction in the costs and by providing the customers with new valuepropositions. The suppliers of the Food and Staples Industry use the negotiating powers toextricate higher prices from the firms in the business (Sustainability.wesfarmers.com.au, 2017).

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