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Report on Woolworth Supermarket in Australia

   

Added on  2020-02-24

19 Pages4682 Words65 Views
Running Head: EntrepreneurshipEntrepreneurship

Entrepreneurship Executive summaryThe main aim of this report is to develop the new product and services for Woolworths. This report explains that Woolworth is leading supermarket in the Australia. It deals with different products and services but to sustain in the market and to get competitive advantages, it will include the organic food in their superstore and also deliver it through different channels. The mission of developing this service by Woolworths is to provide the superior quality, and fresh and natural foods. The company will develop the organic food delivery app to increase the demand of organic consumers. By using this service, it will attract a large number of customers towards their companies. This report also exemplifies that company has strong five forces in food retail industry. Further, company has different competitors in food retail industry such as ALDI Stores Supermarkets Pty Ltd, Wesfarmers Limited, and Metcash Limited. The company has $200,000 start-up capital to invest in new services together with its forecasted sales is higher.Hence, it can be stated that company can get benefits by investing in organic food delivery services.

Entrepreneurship Table of ContentsExecutive summary.........................................................................................................................2Introduction......................................................................................................................................4Company Background.....................................................................................................................4Background to the idea....................................................................................................................4Mission............................................................................................................................................5Objectives........................................................................................................................................5Product offering...............................................................................................................................5Market analysis................................................................................................................................6Industry analysis..........................................................................................................................6Competition..................................................................................................................................8Primary Target market.....................................................................................................................9Marketing.......................................................................................................................................10Financial Plan................................................................................................................................11Critical risks...................................................................................................................................16Conclusion.....................................................................................................................................17References......................................................................................................................................19YTable 1: Start-up cost................................................................................. 11Table 2: Woolworth’s sales forecast..............................................................................................12Table 3:Projected Profit and Loss..................................................................................................12Table 4: Projected Balance sheet...................................................................................................14Table 5: Projected Cash Flow........................................................................................................14YFigure 1: market share of key competitors of Woolworths in Australia........................9

Entrepreneurship IntroductionThis report presents the different strategies for developing new product and services. It also evaluates the background of the company and defines the mission of developing new products. Itexplains the product and service offering by the Woolworths. It also discusses the porter five forces model to analysis the food retail industry. Moreover, it defines the competition between competitors in food retail market. It also illustrates the different component of marketing mix strategies such as product, price, place, and promotion. This report evaluates the financial plan for developing the services and also defines the critical risk. Company BackgroundWoolworth is biggest supermarket chain in Australian. It deals with 995 across the Australia and works with 115,000 workforces in stores, and distribution centers. It supports the team members to deliver the high quality, wide range, convenience and value to its customers. It sources approximately 96% of all fresh fruits and vegetables and 100% of fresh meat from Australian farmers and growers. It feels fresh to people who live in Australia by offering organic foods products. As one of innovation retailers, Woolworths realized that Australian consumers are looking for a creative and comprehensive technique to shop. For this reason, Woolworths facilitates to customers to shop via their comfort zone such as through the computer at home and on the train using Woolworth’s supermarket app and the significant part is that groceries can be delivered directly in the bench of the kitchen (Woolworth’s group, 2017). Background to the idea Woolworths will develop the organic food delivery app services for organic consumers to help them to get a healthy lifestyle. This app would be beneficial for both customers and retailers

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