The purpose of the task is to evaluate the different marketing concepts related to the business organisation Woolworths in Australia. As a marketing consultant, it is my responsibility to visit the retail company and to select a particular brand product that manages the various marketing concepts including the value created through marketing of products and services, strategic planning, marketing research, business market and consumer behavior along with the market segmentation, targeting and positioning. The most important products that can create value and excitement among the customers are the food and drink items (Woolworths.com.au 2018). I have chosen Jim Beam’s brand to demonstrate the marketing concepts that can create value for the customers as well as influence their buying behaviours. The drinks businesses of Woolworths include major branded liquor items such as Jim Beam. As a marketing consultant, I made sure to check the liquor items and at the same time reviewed the opinions and feedbacks of customers to understand whether value has been created for them and they have been kept satisfied or not. The company has also innovated the offers and provided additional discounts for offer value for money products and at the same time, create convenience for the customers to make purchases. The customers are the focus of the company, so it is important for Woolworths to place them at the heart of business and understand their needs and requirements. The actual price of Jim Beam White Label Bourbon and Cola cans are worth of $88 and with the purchase of two or more, additional 20 percent discount is provided as well. The product brand, i.e., Jim Beam has provided new and innovative products including Devil’s cut bourbon, black label bourbon and double oak bourbons, which are new flavors and have managed to create a sense of excitement and happiness among the customers (Wilson et al. 2012). The bourbon whiskey with zero sugar cola is new in the market and it has favored the choices of health conscious customers too. Therefore, it is understood that this branded item has created excitement among the customers and delivered value too.
After much consultation and analysis, I found out that the market share of Woolworths is good in Australia and it has over 50 percent shareholders, according to the index list of top businesses (Woolworths.com.au 2018). The strategic planning was done to introduce the health and beauty brand named Schwarzkopf in the market. The strategic planning and analysis of marketing environment are important aspects of marketing and Woolworths has properly managed these to create a sustainable position in the market. The strategic planning was done by analysis and interpretation of data and information and furthermore conduct environment scanning for determining what kinds of products delivered could satisfy the needs and requirements of the customers (Hair Jr and Lukas 2014). The factors influencing the marketing conditions and environment are assessed with the use of PEST analysis, which determined the political factors, economic, social and technological factors. The political factors have helped in developing growth opportunities along with management of foreign investors and trading partners to manage the business processes and enter new markets through higher rate of return on investments and reduced chances of business failures (Armstrong et al. 2015). The economic condition is not much stable, because of which there has been financial disruptions whereas the social factors were to change according to the changing needs and preferences of the customers and ensure successful product and services delivery. To ease down the affordability of the customers and enhance the retail shopping experience, the prices of Schwarzkopf was lowered to $3.45 from $6.90. There are wide range of products of the brand Schwarzkopf including the extra care ultimate repair shampoo, Marrakesh oil, colour protect, colour protect, conditioner fibre therapy. There are sun care shampoo and conditioner as well, which have helped in fulfilling the demands and preferences in the different market segments with ease and effectiveness. Strategies are defined by focusing on the allocation of resources and developing strategies to extend the control mechanisms and for ensuring successful business outcomes (Rentschler and Kirchner 2012).
The marketing research helped in implementing the most suitable strategies for becoming a customer centric business and developed strong and profitable relationships with the customers to expand footprints all over the world and even lower the cost of managing business functionality. It has also identified the strengths, weaknesses, opportunities and threats of the company. The strengths included enhanced market potential to utilize the financial, human and technological resources for creating a positive brand image while the weaknesses were high prices of products. The opportunities included advancement in supply chains, use of IT for conducting market researches while the threats could be the competitors like Woolworths, Coles, etc (Mehta et al. 2012). The changing buying behaviours of the customers were understood and exploratory research was done for collecting the qualitative data through group based observations and interviews.
This could also improve the sourcing capabilities, at the same time, enhance the value-based leaderships, and manage sustainable farming. The marketing research has identified various important aspects such as the preferences of customers towards the seafood items and so Ocean Chef is the sea food brand of Woolworths that has enabled customers to make the buying decisions. The marketing researches have helped in gaining useful data and information regarding the satisfaction of clients and understood their demands and preferences too (Gupta 2013). Their feedbacks and responses were considered by the company to make business decisions, which helped in introducing the Ocean Chef food items like Salmon portions skin, squid salt and pepper, peeled prawns, squid rings, etc. These branded food items of Woolworths allowed for keeping the fish loving customers satisfied and felt confident to cook these food items easily at their homes. I, as a marketing consultant understood that Woolworths, which helped in analyzing the market conditions, used the information systems properly and business decisions were made for making the seafood items popular in the market (Kajanus et al. 2012).
As a marketing consultant, I have understood that the decisions made by the customers while purchasing the products and services are based on the situational influences, psychological and social influences like their roles, family involvement, culture from which they belong, perception, attitudes and behaviours and by prioritizing on the health benefits too. The Pedigree dog food items are healthy and tasty because of the ingredients present in it and it also has high contents of energy that make customers buy those for their pets. As a marketing consultant, it is my responsibility to make the organisation identify the flaws in business and create opportunities for the customers to manage internal searches to know more about the products that they are going to purchase (Albrechts 2013). From the analysis of market, it was understood that the consumers’ behaviors change from time to time. Nowadays, they take care of their pets and thus has introduced the Pedigree adult dog food can casserole with beef gravy, lamb pasta and veggies along with dog food can loaf and beef pasta too. The buying behaviours and the needs and preferences of the customers were understood, which helped in keeping pace with the new market conditions and fulfill their needs and requirements too. Pedigree is a popular dog food item that has been introduced in the market by Woolworths to make sure that not only the customers but also their pets can be taken care of, because they are considered as important family members for the customers (Kristianto et al. 2012). The behaviours of consumers have changed and to met the health and safety standards, the company has introduced new range of Pedigree food items and the prices are reduced as well, which has created enough possibilities for fulfilling the consumers present in the different business market segments (Wedel and Kamakura 2012).
The behavioral segmentation has helped in understanding the rate of usage of products by the customers and benefits obtained. The psychographic segmentation was used for understanding their lifestyles, behaviors and personalities and there was clear indication that the customers want something healthy and tasty. The Arnott’s biscuits are selected as the brand products required to manage market segmentation, target the new customers and position products and services properly in the market. Woolworths offers Arrnott’s milk arrowroot, family assorted, marie biscuits , milk coffee and ginger nut, etc. There are wide range of items that are of good tastes and have been made available through market positioning and even by allowing the different products of the brand in different market segments according to the needs and preferences of the customers in the market (Kwak and Kim 2013). The market segmentation, targeting and positioning are done for influencing the buying behaviours of the consumers and make sure that the sales revenue is increased along with the profit level. Woolworths has shipped the product to over 40 countries and thus the brand Arnott has a good market share. The company has also expanded the product in the cereal and breakfast segment to meet the criteria of targeting and positioning of products and services in the market (Woolworths.com.au 2018). The segmentation of market is done by categorizing the customer segments into old customers, teenagers and young children. The old customers were provided with health biscuits like Marie biscuits and ginger nuts whereas the milk coffee and arrowroot biscuits favour the choices and buying decisions of the young adults and children. The fresh food people campaign helped in positioning the products and services properly, which further influenced the customers’ buying behaviors and enhance the sales and profit level (Wilson et al. 2012).
References
Albrechts, L., 2013. Reframing strategic spatial planning by using a coproduction perspective. Planning Theory, 12(1), pp.46-63.
Armstrong, G., Kotler, P., Harker, M. and Brennan, R., 2015. Marketing: an introduction. Pearson Education.
Gupta, A., 2013. Environmental and pest analysis: An approach to external business environment. Merit Research Journal of Art, Social Science and Humanities, 1(2), pp.13-17.
Hair Jr, J.F. and Lukas, B., 2014. Marketing research (Vol. 2). McGraw-Hill Education Australia.
Kajanus, M., Leskinen, P., Kurttila, M. and Kangas, J., 2012. Making use of MCDS methods in SWOT analysis—Lessons learnt in strategic natural resources management. Forest Policy and Economics, 20, pp.1-9.
Kristianto, Y., Gunasekaran, A., Helo, P. and Sandhu, M., 2012. A decision support system for integrating manufacturing and product design into the reconfiguration of the supply chain networks. Decision Support Systems, 52(4), pp.790-801.
Kwak, M. and Kim, H., 2013. Market positioning of remanufactured products with optimal planning for part upgrades. Journal of Mechanical Design, 135(1), p.011007.
Mehta, K., Phillips, C., Ward, P., Coveney, J., Handsley, E. and Carter, P., 2012. Marketing foods to children through product packaging: prolific, unhealthy and misleading. Public Health Nutrition, 15(9), pp.1763-1770.
Rentschler, R. and Kirchner, T.A., 2012. Arts management/marketing journal citation analysis: assessing external impact. Arts Marketing: An International Journal, 2(1), pp.6-20.
Wedel, M. and Kamakura, W.A., 2012. Market segmentation: Conceptual and methodological foundations (Vol. 8). Springer Science & Business Media.
Wilson, A., Zeithaml, V.A., Bitner, M.J. and Gremler, D.D., 2012. Services marketing: Integrating customer focus across the firm. McGraw Hill.
Woolworths.com.au. (2018). {{metaController.metaData.title}}. [online] Available at: https://www.woolworths.com.au [Accessed 18 Jan. 2018].
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