Analyzing Woolworths' Marketing Environment and Competitive Strategies

This discussion post examines the marketing environment of Woolworths Limited, focusing on the impact of social factors on its business decisions. The analysis highlights the importance of customer experience and satisfaction, emphasizing strategies like offering low-priced products, convenient store locations, and loyalty programs. The post also explores how Woolworths can achieve a competitive advantage by continuously assessing its external environment and adapting its service provision to meet changing social trends and customer preferences. The discussion references key concepts such as competitive advantage, customer retention, and the need for businesses to adapt to social changes to maintain profitability and reduce customer switching.

DISCUSSION FORUM POST (PART B)
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Table of Contents
a) Identify and discuss the explicit marketing environmental factor and its potential impact on
the organization...........................................................................................................................3
b) How to achieve competitive advantage through giving appropriate response to the change in
marketing environment................................................................................................................3
REFERENCES.....................................................................................................................................5
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Macro factor
In the present research study, one of the macro factors have been considered so that to
analyse its impact on business and marketing decisions. Thus, regarding that social factor is
being selected.
a) Identify and discuss the explicit marketing environmental factor and its potential impact on the
organization
Customers are the major sources of revenue for a business organization; hence it is vital
for the business entity to emphasize on their needs and demands as this is crucial in terms of
sustaining profitability aspects (Kennerley and Neely, 2003). In this respect, Woolworths
Limited has recognized the importance of customer’s experience as a part of their sales and
profitability. Thus, it can be said that Woolworths Limited has appropriate concern towards
social factors that aids the business entity to acquire maximum number of profitability. The
company has also introduced new modes and methods to meet the requirements of customers;
thus accordingly the management has brought certain chances in the social context (Learning,
2005). Hence, in order to respond for social factors, it is vital for Woolworths Limited to offer
lowest priced products so that customers can purchase the products effectively.
Moreover, in this respect, location of the stores also matters as it is a critical area for the
customers where they get products and services according to customer convenience. Apart from
this, company has also taken different steps by keeping in view social trends and in that
response, it has launched loyalty programs for the end users which has helped Woolworths
Limited to acquire greater customer satisfaction (Paine and et. al., 2008). Moreover, the company
is also able to ascertain the habits of customers and as per that, several changes are being made
in service provision. Apart from that, Marks and Spencer have also transformed the location so
that convenient services could be delivered to the clients.
b) How to achieve competitive advantage through giving appropriate response to the change in
marketing environment
Competitive advantage is regarded as the major business aim which needs to be achieved
through adding several elements in the service dimension. With the help of competitive
advantage, Woolworths Limited could encourage its customer services and business can also
retain in the existing market place for longer time span (Paul, 2008). External environment of the
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business needs to be ascertained on continuous basis so that factors affecting the business
practices could be analysed suitably. As per such dimensions, several changes are required to be
made in company’s operations and practices so that the chances of success and profitability
could be enhanced. With the help of external factors, Woolworths Limited is able to change the
service provision and through this, organizational capability can also be amended.
For instance- changes in social aspects needs to be considered by Woolworths Limited as
that would not only help in retaining customers; but also it will aid in maximizing satisfaction
aspects. Social changes are essential to consider because that aids Woolworths Limited to reduce
the number of customer switching to other brands (Starik and Sharna, 2004). At the same time, it
can also aid the customers to promote the services to other customers as well for better
profitability and success. Thus, in order to become successful it is essential for Woolworths
Limited to analyze on business competency as that will also aid in creating competitive edge
over the rivalries.
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REFERENCES
Kennerley, M. and Neely, A., 2003. Measuring performance in a changing business
environment. International Journal of Operations & Production Management. 23(2).
pp.213 – 229.
Learning, F. P., 2005. Business Environment. Routledge.
Paine, J. W. and et. al., 2008. Organization Change: A Comprehensive Reader. John Wiley &
Sons.
Paul, J., 2008. Business Environment. 2nd ed. Tata McGraw-Hill Education.
Starik, M. and Sharna, S., 2004. Stakeholders, The Environment And Society. Edward Elgar
Publishing.
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