logo

MKTG 100 Principles of Marketing

   

Added on  2020-05-11

13 Pages2969 Words51 Views
Running head: MARKETING 100Marketing 100Name of studentName of UniversityAuthor note

1MARKETING 100Table of ContentsIntroduction......................................................................................................................................3Economic Issues..............................................................................................................................3Legal issues......................................................................................................................................5Ethical issues...................................................................................................................................7Conclusion.......................................................................................................................................9

2MARKETING 100Introduction The report focuses on the major aspects of marketing at a business organisation inAustralia. It sheds limelight on the impact that marketing has created o the community as well ason the environmental stewardship, also known as sustainability. The environmental stewardshipmeans using the natural resources properly to protect the environment and by managing goodand effective sustainable practices within the business organisation. The marketing is the variousapproaches that are followed by the business organizations to market its products and servicesproperly and manage the relationship between human beings and land and how a good ecologicalbalance can be maintained within the organisation with ease and effectiveness (Bakeret al.2012). Economic IssuesThere are several economic issues that are faced by Woolworths in Australia such asrecession period and increase in rate of unemployment, which has affected the financialperformance and resulted in poor productivity, lower sales and less profit generation too. Withthe global financial crisis, the company further faced economic and financial issues and thecondition of the organization further declined. It closed its operations during that time and morethan 30,000 people were unemployed who were previously working for the company (Baker,Griffis and Ochsner 2012). The sales level also decreased, further leading to financial disruptionand failing to assess the needs and requirements of different market segments in Australia. Theretail industry within which the company operates is quite huge and continuous support wasprovided to Woolworths to continue with the business operations and generate good amounts ofprofit in business (Woolworths.com.au 2017). After Woolworths continued its operations, many

3MARKETING 100of the unemployed individuals already started to work in other companies and thus the companyfaced some other issues with the recruitment and selection of skilled individuals who have thenecessary skills and knowledge to enhance the efficacy of the workforce (Berliner and Prakash2013). Another economic issue could be the rise in inflation rate that had resulted in increasingthe prices of products and services and even managed the packaging methods at a higher rate forMyers. Though there were enough scopes for the company to ensure that the packaging activitieshad to be managed at a lower cost, still the plastic bags were used that not only acted as harmfulsubstances to harm the ecological balance in nature. The rise in prices of products is anotherissue, though it is certain that it is important to cover everything within budget, though notcompromising on the quality of products anyhow (Connolly et al. 2013). The sharp downturn inthe economic growth of Australia has created various issues including less earning by the Westfarmers, suppliers, which posed to be a threat for the lower economic growth. Another issueconsidering the economic factors is that consumers have gone online nowadays and businessesoften fails to implement the right online marketing technique to attract and retain new andexisting customers with ease and effectiveness. The economic issues can result in makingpersons lose jobs as well as make the individuals of the marketing industry to focus on thechanges in economic growth and how information is consumed (Demarche et al. 2012).Monopoly is another economic issue that makes the business organizations set higher prices ofproducts and services that will be delivered to the consumers. The agricultural marketsconstantly start changing and this results in changing the prices of products and services fromtime to time. The volatile markets even cause change in economic growth and profit level andthis is a major issue, which can be overcome with the help of a proper marketing technique. The

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
MKTG 100 : Principles of Marketing
|9
|2311
|126

Competitive Strategy 2022 Assignment
|10
|2079
|24

Marketing Aspects in Australian Biscuits Manufacturing Industry
|13
|1070
|29

Bridging economic and ethical issues in Coles
|12
|3261
|405

Fundamental Analysis of Woolworths and Wesfarmers in the Retail Industry of Australia
|16
|3570
|223

Strategic Management of Woolworths Group Limited in Australia
|21
|1417
|145