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Marketing Mix Strategies of Woolworths

   

Added on  2020-05-28

16 Pages4149 Words322 Views
Running head: MARKETING MIX STRATEGIES OF WOOLWORTHSMarketing Mix Strategies of WoolworthsName of the Student:Name of the University:Author note:

1MARKETING MIX STRATEGIES OF WOOLWORTHSTable of Contents1. Introduction............................................................................................................................41.1Company......................................................................................................................41.2Location.......................................................................................................................51.3Consumer.....................................................................................................................52. Analysis..................................................................................................................................52.1 Product.................................................................................................................................62.2. Price.................................................................................................................................62.3. Place................................................................................................................................72.4. Promotion........................................................................................................................72.5. Processes.........................................................................................................................72.6. Physical Evidence...........................................................................................................82.7. People..............................................................................................................................82.8. Partnerships.....................................................................................................................93. Recommendations..................................................................................................................93.1. Product............................................................................................................................93.2. Price...............................................................................................................................103.3. Place..............................................................................................................................103.4. Promotion......................................................................................................................113.5. Processes.......................................................................................................................113.6. Physical evidence..........................................................................................................12

2MARKETING MIX STRATEGIES OF WOOLWORTHS3.7. People............................................................................................................................123.8. Partnerships...................................................................................................................124. Conclusion............................................................................................................................13References................................................................................................................................14

3MARKETING MIX STRATEGIES OF WOOLWORTHS1. IntroductionThe retail sector is growing rapidly in today’s business world and it has graduallybecome more complex with the emergence of multiple stores, micro-apps, micro-suits andcommercial networks, which are covering several different geographies (Iyadurai &Subramanian). For creating frequently refreshed products, the local markets have developedin such a way that to they could accurately tailor the merchandise offerings to the demands ofthe market. This report will shed light on one of the notable Australian retail company, theWoolworths. It will elaborate on describing the eight marketing mix concepts theoreticallyand will each of the components to one of the product offerings of Woolworths. It will furtherevaluate on overall marketing strategies, the competition market and the contemporary issuesthat the company is facing in the current era. Moreover, it will also provide somerecommendations for the organization in order to move forward successfully. 1.1CompanyWoolworths is one of the leading retail companies in Australia. It was founded on 22September 1924 and is still the substantial retailing chain in the Australia, but the growth rateof the company has slowed down in the last years. They main founders of the company areErnest Williams, Cecil Scott Waine, Percy Christmas, George Creed and Stanley Chatterton(“Woolworths.com.au”, 2018). The main headquarter of Woolworths is based in Bella Vista,New South Wales. It operates in several different regions including Australia, India and NewZealand with near about 900 stores all over. In the 2017, the company gained total revenue ofabout 55 billion Australian dollars. The company performs more than 29 million customerseach week. The major competitors of Woolworths are Coles, TESCO, ALDI, Dan Murphy’s,Wal-Mart, Wesfarmers and Macro Whole foods (Booth & Coveney, 2015).

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