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Marketing and the EntrepreneurshipaMarketing and the Entrepreneurship | Woolworths

   

Added on  2020-03-23

12 Pages3027 Words127 Views
Running head: MARKETING AND ENTREPRENEURSHIPMarketing and entrepreneurshipName of the studentName of the universityAuthor note

1MARKETING AND ENTREPRENEURSHIPExecutive summary The aim of this report is to discuss about the marketing strategies being initiated by Woolworthsfor promoting HOMEBRAND ORANGE FRUIT DRINK in Australia. Their target market andtheir process of segmenting and positioning their customers had also been discussed. It is beenconcluded that concluded that, the existing marketing strategy of Woolworths forHOMEBRAND ORANGE FRUIT DRINK is effective enough to cater to the existing customersin the Australian market. However, they need to gain more competitive edge in order to cater tothe global customers.

2MARKETING AND ENTREPRENEURSHIPTable of ContentsIntroduction......................................................................................................................................3Company profile..............................................................................................................................3Target market strategy.....................................................................................................................4Segmentation...............................................................................................................................4Targeting......................................................................................................................................4Positioning...................................................................................................................................4Marketing strategy implemented by Woolworths...........................................................................5Product.........................................................................................................................................5Price.............................................................................................................................................5Place.............................................................................................................................................6Promotion....................................................................................................................................6People..........................................................................................................................................7Process.........................................................................................................................................7Physical evidence.........................................................................................................................7Recommendations............................................................................................................................8Conclusion.......................................................................................................................................8Reference.........................................................................................................................................9

3MARKETING AND ENTREPRENEURSHIPIntroduction In the present business scenario, marketing strategy being implemented by thecontemporary business organizations to not only sell their products, but also determining themarket requirement effectively. In the current business state of affairs, business organizationshave to operate in intensely competitive market and thus, it is important for them to effectivelydesign their marketing activities in order to target their customers (Baker 2014). Retail marketsector is one of the most intensely competitive markets in Australia with having severalestablished players in the market (Chutani and Sethi 2012). Thus, organizations operating in thissector are initiating various marketing concepts in order to stay ahead in the competition.Woolworths is one of the prominent players in the market with having diverse product portfolioand deep market penetration. They are also known for their distinctive marketing strategies beingimplemented. This report will discuss about the marketing strategy being implemented by Woolworthsfor promoting HOMEBRAND ORANGE FRUIT DRINK in the Australian market. Their targetmarket and their process of segmenting and positioning their customers will be discussed.Accordingly, recommendations will be provided to enhance the effectiveness of their marketingactivities. Company profileWoolworth is a chain of supermarkets across Australia with having the market leadershipstatus in the retail market. It was founded in 1924 and currently they are having more than 1000stores across Australia. They mostly specialize in selling grocery items to their customers.However, gradually they have entered other market sectors also (Woolworths.com.au 2017).Currently they are offering grocery items along with stationary items, music items and householdproducts. Being a supermarket, they are having huge diversity in their product portfolio alongwith several product lines. Due to their diversified product portfolio, they are catering to broaderaudiences.

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