BSBMKG506 Marketing Plan for Woolworths: A Comprehensive Analysis

This report details a comprehensive marketing plan for Woolworths, encompassing various aspects such as market analysis, strategic planning, and financial projections. It begins with an introduction outlining the scope of the assessment, followed by an in-depth analysis of Woolworths' marketing plan, including business goals, SMART objectives, and marketing strategies. The report further explores market segmentation, product offerings, and potential problems faced by the company, such as the need for advanced technologies and sufficient financial resources. The project scope, encompassing market research needs, objectives, and deliverables, is also discussed, along with a detailed timeline for plan implementation. The conclusion summarizes the key findings, emphasizing the importance of an effective marketing plan for business success. The report also includes a marketing budget and sales forecast, and references relevant marketing literature.

BSBMKG506 Plan
market research
Assessment-2

Table of Content
• Introduction
• Marketing plan
• Strategies
• Problems
• Project scope
• Conclusion
• References

Introduction
• This assessment will cover the marketing plan for Woolworths
which includes target market, segmentation, background etc.
• Further presentation also cover what exact problem needs to be
solved and where does the problem occur.
• Further, it also describe the product and pricing strategies in
order to attain the aim.

Marketing plan
• The marketing plan is that document which is mainly used to outline the marketing strategy for the
future years.
• Business goals: the goal of Woolworths is to sustain the brand image at international level so that
it will attract wide range of customers. Further, quoted firm also uses different pricing strategy in
order to develop the increase the financial performance of the company.
• SMART objectives: as the company goal is to sustain the brand image at international level and
that is why, its main objective is to use the best social media platform in order to increase customer
base up to 20% within next 2 months.

Continued…
• Marketing strategy:
• Company uses effective marketing strategy such that website, internet and social media marketing
tools so that it will help the business to attract wide range of customers and as a result, it will help
to attain defined aim and objectives.
• Company also uses the brand sponsorship in order to promote the brand so that it will easily
sustain the brand image at international level.

Continued…
• Sales forecast:
• In order to attain the defined aim and objectives, the sales forecast for the business is increases up to
5 % in every month so that it will help to determine the progress.
• Marketing budget:
Particulars Amount ($)
Stationary 5320
Social media platform 5520
TV and Billboards 6490
Miscellaneous expenses 7670
Total 25000

Strategies
• Segmentation:
• It is the process of dividing the market of potential customers into different groups and segments
which is further based upon different characteristics.
• In order to attain the defined aim, company segment the market on the basis of geographic market.
Further, it also target the customers such that middle class people and for them the company
provide best products with low and reasonable rates.
• Product:
• Woolworths offer different ranges of clothes to their customers for men, women and kids so that it
will help to attract towards them. Moreover, company also offer food products to their customer
with different discount offers.

Problems
• Woolworths need to use advance techniques into its working area so that it will easily attain the
defined aim. Such that in this modern era, every company needs to use all advance technique so
that it helps to save cost and money.
• Further, the problem generally occur when the there is a lack of financial resource. Or there may be
not having enough and capable human resources who did not have enough skills in order to handle
the situation. As a result, it affect the overall business in opposite way.
• Technological factor contribute to the problem such that in this modern era, every company needs
to be focused to implement the best and effective stra
• tegy that helps the business to complete the defined aim.

Project scope
• Market research needs:
• There is a need to develop the market research because it helps the researcher to analyze the
problems through which the company is suffering.
• Moreover, by analyzing the needs of customers and offering the same to customers will help the
business to grow further level of success.
• Market research objectives:
• The main objective is to use the best social media platform in order to increase customer base up to
20% within next 2 months.

Continued…
• Deliverable :
• While performing the marketing plan make sure that proper
quality of resources are used and in order to minimize the
risk, risk register should be maintained properly.
• The budget should not be over and under because it will
affect the entire project in opposite way.
• Exclusion:
• to minimize the risk, researcher should make sure that the risk
should be properly identified and if the quality of resources
are not good then it should be excluded.

Continued…
• Time-frames:
• The plan should be completed within two months and also each and every stage should be
specified in proper manner such that:
• Particulars Start dates Finish dates
Set objectives 16/12/19 18/12/19
Business goals 19/12/19 22/12/19
Secondary data
collection
23/12/19 15/01/20
Data analysis 16/01/20 21/01/20
Problem statement 22/01/20 30/01/20
Segmentation 31/01/20 05/02/20
Conclusion 06/02/20 10/02/20

Conclusion
• By summing up above it has been concluded that marketing plan plays an effective role in the
success of a business
• The presentation describe the specific terms that helps to attain the defined aim and objectives for
Woolworths
• Presentation also describe the budget and target customers that helps to complete the aim and
overall it is analyses that with an effective plan, researcher easily describe the future growth option
available for the business.