MKT101A Marketing Fundamentals: Woolworths Marketing Strategy

This report analyzes Woolworths' marketing strategies, emphasizing the importance of marketing concepts for achieving a competitive advantage. It discusses explicit marketing environmental factors impacting Woolworths, such as bargaining power of buyers and suppliers, and recommends strategies for maintaining a competitive edge, including customer intelligence, social media marketing, and cost reduction. The analysis covers promotional strategies, market orientation, and the need for adapting to technological advancements and regulatory changes. The report concludes by highlighting the significance of marketing in Woolworths' overall success and provides recommendations for future improvements. Desklib offers a wealth of similar solved assignments and past papers to aid students in their studies.

Marketing Fundamentals

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Table of Contents
Introduction...........................................................................................................................................2
Importance of marketing in Woolworths...............................................................................................2
Explicit Marketing Environmental factor that impact Woolworths.......................................................2
Recommendation to maintain competitive advantage............................................................................3
Conclusion.............................................................................................................................................5
References.............................................................................................................................................6

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Introduction
Woolworths is a prominent Australian retailer that is been selected for the research in
this report. This report covers the need of marketing concept and process in an organisation.
They also help an organisation to gain competitive advantage and compete with the
competitors. This report also covers some of the explicit issue that are faced by an
origination.
Importance of marketing in Woolworths
Woolworths is an Australian company that is basically used to deliver all types of
grocery stuffs along with it they sell magazines, dvds and various stationery items. The main
motive of this company is to increase the sale and deal with the competitors in the market. It
is important to adapt a marketing strategy so that whenever a new product is launched it gains
market value. Marketing strategy used by Woolworths is promotion that helps them in
reaching to larger audience by branding the company and its services. To reach to larger
audience they make use of digital marketing that helps in reaching to every kind of audience
by creating awareness about products. They also use a technique of offering gift cards to
customers that provide them with additional benefits and make the customers table (Lewis,
2018). The concept of marketing arise due to the fact that the success of a company depends
upon the marketing efforts take by an organisation that also helps in knowing the approaches
used by competitors in the target market. Woolworth has enhanced their promotion strategy
to boost up their sales. The marketing is a basic concept that holds the success of an
organisation by achieving the goals by knowing the needs of target audience so that services
could be delivered accordingly by offering better satisfaction. Market orientation used by
Woolworth also covers monitoring of all the actions that are taken by the company to attain
success by understanding the plans and goals of other competitors. Promotion helped
Woolworths to gain popularity and make clients aware about their products.
Explicit Marketing Environmental factor that impact Woolworths
Some of the market environment factors that impact the organisation are bargaining
powers of buyers as well as suppliers. The Australian retail trades offers customer to select
between wide varieties of services. Customers have the habit of bargaining for all the

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products and the prices should also be low so that competitors do not get the market. It is a
factor that affects marketing plan (Grimmer, 2018)
. If suppliers keep the price of products high they will not be able to the same position in the
market. If the same product is sold by third party at owner price the business of the company
will decrease. Thus bargaining factor should be deal properly so that sales and marketing of
an organisation is not affected. Thus it is important for Woolworths to promote their products
and make their services and products available in the market. They compete analyse should
be done of all the competitors and the marketplace study is done carefully. The marketing
environmental factor of Woolworths is to know customers requirement that is found by
analysing the marketing requirements and then designing policies and plans to enhance the
sell and profit (Terho, Eggert, Haas & Ulaga, 2015). There are various environmental
factors that include government regulation, negotiations related to the price and quality,
analysing the competitors and also technological development. Thus it is important for
Woolworths to use different technology that supports the organisation to gain success and
deal with all the complex tasks. It is a micro facto as it can be overcome by designing various
plans.
Recommendation to maintain competitive advantage
Woolworths has enhanced the selling concept of an organisation as they are
recommended to use customer intelligence method that should monitor regulations and
should use advanced technology so that competitors do not capture the market. To gain the
competitive advantage Woolworths use formal as well as Informal procedure to sell the
products. They have started to sell their products by doing social media marketing so that
they are able to reach larger audience (Atkinson, 2016). Woolworths should also use
feedback method to gain market importance as it increases the trust among customers. It also
focuses on way to reduce the cost of products. For this Woolworths take advantage of
manufacturing more products and selling them at economical price. They work on a strategy
to offer the products at affordable price this has helped them to gain competitive advantage
and also helps them in getting more customers to the company. The company can gain
competitive advantage by innovating new products and reducing the cost of products. To gain
competitive advantage Woolworths focus on gaining cost leadership that is by selling
products and services at the cheap price (Pulker, Scott & Pollard, 2018). The differentiation
of products from the competitors can also help organisation to gain competitive advantage.

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They can also gain competitive advantage by reviewing of all strengths and services,
reducing cost and comparing the alliance with other companies. Additionally to gain
competitive advantage they make use of defensive strategy that allows an organisation to
compare it with its competitors.

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Conclusion
It can be concluded from this report that analyses on an Australian company that is
Woolworths is done. The report covers the need of marketing in the company and how it adds
up benefits. Additionally some of the explicit marketing environmental factors that impact
Woolworths have been discussed. Some of the comments are provided for the company to
maintain a competitive advantage

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References
Atkinson, D. (2016). Conceiving a marketing strategy in the era of dynamic
capabilities. Economic and Social Development: Book of Proceedings, 386.
Grimmer, L. (2018). How Coles and Woolworths are moving away from marketing on price:
Interview with Louise Saunders Drive Program.
Lewis. J. (2018). Four Methods of Competitive Advantages. Retrieved from
http://smallbusiness.chron.com/four-methods-competitive-advantages-32344.html.
Pulker, C. E., Scott, J. A., & Pollard, C. M. (2018). Ultra-processed family foods in Australia:
nutrition claims, health claims and marketing techniques. Public health
nutrition, 21(1), 38-48.
Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing.
Pearson Australia.
Terho, H., Eggert, A., Haas, A., & Ulaga, W. (2015). How sales strategy translates into
performance: The role of salesperson customer orientation and value-based
selling. Industrial Marketing Management, 45, 12-21.