Woolworth's Marketing Plan: Strategies, Objectives, and Analysis

This presentation provides a comprehensive overview of Woolworth's marketing plan. It begins with an introduction and company background, highlighting Woolworth's position as a leading supermarket retailer in Australia. The presentation details the products offered, followed by a situation analysis using SWOT analysis to identify strengths, weaknesses, opportunities, and threats. Marketing objectives are outlined, aligning with corporate goals to enhance market share and profitability. The presentation explores segmentation, targeting, and positioning strategies, focusing on age, income, and geographical factors. Various marketing strategies are discussed, including the lean retail model to cut costs and improve customer service. The presentation concludes with recommendations for strategic consistency, continuous improvement, and employee skill development. References to relevant marketing literature are also provided.

Marketing & Entrepreneurship
Summary of Marketing Plan

Content Covered
• Introduction
• Company Background
• Products Offered
• Situation Analysis
• Marketing Objectives
• Segmentation, Targeting & Positioning
• Marketing Strategies
• Recommendations

INTRODUCTION
Woolworth was found in the year 1924 and today, it is the largest
supermarket retailer in Australia.
Company started dealing in the food sector around 60 years ago with the
advancement in refrigeration technology.
This presentation will state about the way in which company is focusing
its resources for gaining competitive edge.

COMPANY BACKGROUND
Woolworth is the largest retail chain in Oceania region. It has over 3500
branches in Australia itself.
Company is operating from the last 93 years successfully. Even though,
last 20 years have been stressful due to changes in market dynamics.

PRODUCTS OFFERED
There are different products and services offered by retailing giant.
Woolworth has diversified its risk by expanding into different fields. The
main sectors are:
Prime Sector Secondary Sector
Food
(Baby food, pet food, perishable,
packaged. Other related items.)
Liquor
Petrol
Insurance
Safety
Logistics and Transportation
Financial services

SITUATION ANALYSIS
This is necessary to be conducted to ensure that all internal and
external factors are properly analysed.
SWOT analysis is used by Woolworth managers to identify:
•Strengths
•Weaknesses
•Opportunities and
•Threats for the firm

Cont.…
Strengths
It is the largest retailer in Australia
Huge market share
Diversified product portfolio
Weaknesses
Late comer in online retailing
Tends to let opportunities go
Not venturing out of Oceania
region
Opportunities
Better forecast for retailing sector
Developing economies offer more
opportunities
Threats
Price wars with ALDI and Cole's
Losing customer year by year

MARKETING OBJECTIVES
These are the targets that are required to be aligned with corporate
objectives so that they would boost Woolworth’s ability to capture more
market share.
Corporate Objectives Marketing Objectives
Enhancing customer base of
company
Maintaining its top position in
market and ensuring that it keeps
on leading retailing sector
Focusing on profitability (boosting
it by 2%)
Increasing marketing influence by
increasing customer base by 4%
Better environment for customers
and employees
Ratio of efficiency has to be
improved by 30%

SEGMENTATION, TARGETING &
POSITIONING
Segmentation is known as a process of bifurcation or division of market.
This assists in targeting customers in an effective way.
Woolworth positions its products in a competitive way in the eyes of
customers.
Segmentation
On the basis of age, income
and geography
Targeting
All economical classes, households and
working couples
Positioning
Lower pricing of products as well as one stop shopping experience

MARKETING STRATEGIES
Woolworth has to use different strategies to put together an effective
action plan that would influence customers.
The new strategy for Woolworths is stated to be based on three key principles:
Offer: Improving the core offering to attract customers
Growth: Using innovation as a tool to meet consumer requirements
Efficiency: Using lean retail method to add more customer value

Cont....
Lean retail model is a strategy which will be used by Woolworth to cut
down the cost while enhancing the productivity.
It would assist company will be benefited by it as it would allow it in
cutting down cost by $500 million.
This would help the company in enhancing the quality of customer
services that it offers.
Basically, they aim to gain more market share with minimising the
resources that are consumed.

RECOMMENDATIONS
There are certain requirements that can be adopted by company such as:
•Bringing strategic consistency to gain competitive edge
•Continuous improvement and innovation
•Quality of delivery of products.
•Focusing on developing better skills in employees so as to produce higher
level of productivity.