Marketing cannot be considered as an advertising or promoting product. The word marketing can be considered as the management of exchange relationships. According to Lovelock and Patterson (2015), it involves satisfying the customers based on the products sold. It can be considered as the total of all the activities that are involved in the exchange process between producers and sellers. The following assignment helps in identifying the marketing objectives that is used in order to promote a product or service in the market. The marketing planning process is analysed and the marketing philosophy that is used is identified in the assignment (De Mooij, 2018). At the same time the decision that is taken by the buyers and the factors that affect the decision are discussed in the assignment along with analysis of gap model and a SWOT of the respected company.
The marketing planning process involves several steps that can help in identifying and formulating strategies that are essential for business. As observed by Armstrong et al. (2015) it usually consists of a nine-step process that helps in determining the strategies that can be made to identify the business processes. At the initial stage, it is necessary to set the goal so that the mission, corporate objective and vision can be identified. The mission and vision of a company is important as it can help in the development of goals and at the same time ensure that every goal set up by the managers is attained. As stated by Malhotra and Peterson (2014) this can help in easing the process as a clear aim can be maintained for the organisation. The aim and objective of the organisations can be based upon various factors that have a considerable impact on its development. The corporate objective can be based on the requirements that are met by an organisation.
Babin and Zikmund (2015) pointed out that analysis of the current situation is also necessary and this can be achieved by conducting a market audit, SWOT analysis as well as make assumptions about the current market scenario. The marketing audit needs to be done as it helps in identifying the expenditure that a company have incurred. The expenditures can be in the form of promotion of strategy, purchase of raw materials and selection of promotion activities along with the rate of internet usage. The marketing audit is useful as it helps in understanding the total expenses of an organisation and identifies if the expenses are justified (McDonald & Wilson, 2016). The SWOT analysis needs to be considered based on the internal capability of an organisation. The SWOT analysis helps in identifying the impact that an organisation is capable of imposing so that it can continue its business in the current market scenario. This analysis also helps to identify the opportunities that can be gained by an organisation so that it can continue to expand in the market.
According to Strauss and Frost (2016), the marketing assumptions are an important factor as it helps in predicting the trends in a market. In order to create a marketing plan in a successful manner, it is necessary that the managers of an organisation take into consideration, the assumptions that exist in the market. These assumptions can be in the form of budgetary constraints as well as predicting the needs and wants of the customers. These are important, as it is necessary for organisations to remain aware of the competitions in the business and the recent trends that are followed. This can help in predicting and securing the future of an organisation with the aim of understanding the requirements of the market (Baker, 2016). It can be said for an organisation to succeed in the market it is necessary that it provide an understanding of the factors that are involved in its growth and development.
After these analysis, a marketing strategy can be created that can be useful for the success of an organisation. However, as stated by Ryan (2016) the market strategy needs to define the marketing objectives and strategies so that commencing the business with ease can be done. The marketing strategy can be based on the factors that affect the external environment of an organisation. These include any form of political, economic, social or environmental tensions that arise in the market. According to Fill and Turnbull (2016), the analysis can help in formulating the effective strategies that is required for the development of a market. However, one of the considerations that need to be made is the fact that the strategies be aligned with the objectives of an organisation. Without aligning with the objectives, it can be difficult to continue with the business propositions that are required to be maintained in the market.
At the same time, Stelzner (2014) stated that an expected result; need to be forecasted so that the strategies are more orient towards the future. The forecasted results need to be based on the predictability made in the organisation. The forecast of the results can depend upon certain factors that include the external and internal capability of an organisation. The forecast can help in determining the activities of an organisation with an aim of the development of a future course of action. Hence, as stated by Armstrong et al. (2014) the expected results need to be based on the manner in which strategies are developed and responses received from the customers. For example, in the case of retail organisations it is necessary that the customer satisfaction be taken into account so that expected results can be obtained by forecasting the activities required for success.
As stated by Tuten and Solomon (2017) the development of an alternative plan is also necessary as it can help in ensuring that the strategic condition of the company does not face any type of barrier. The alternate plan is mainly aimed at identifying the activities that are included in the initial strategic plan. It needs to be seen that the effectiveness of the alternate marketing plan be aligned with the objectives. At the same time, precautions need to be taken so that the marketing plan does not have to be used except in crisis that are unavoidable. In this case it can be said that the alternate course of action that needs to be developed need to underline the factors that may lead to the failure of the marketing plan and based on it involve in the adoption of mitigation strategies (Ottman, 2017). However, another consideration that needs to be undertaken is that the alternate plan does not overshoot the budget of the organisation.
At the end, a marketing budget needs to be developed so that the marketing strategies can be kept within the limitations of an organisation. The budget needs to take into consideration every aspect that is related with an organisation. The consideration of the budgeting of an organisation need to be made based on the manner in which it can continue to expand in the market (Bendle et al., 2016). Every department, resources and employees are taken into account and the expenses made on them are analysed in order to understand the savings that an organisation can make. It is also necessary that the budget be made in a constraint manner so that excess expenses can be prevented.
According to Baker (2014), a detailed action plan can be formulated so that positioning of the company can take place in the market. The action plan needs to detail every aspect of an organisation and ensure that the activities have been carried out. This can provide an understanding of the effects that an organisation can have and the people responsible for every action that is undertaken. The action plan can work as a remainder of the activities that need to be undertaken by an organisation (Belch et al., 2014). Therefore, an analysis can be made that can highlight the effects of the marketing plan and at the same time provide an organisation with an understanding of the factors that can help in the analysis of the market environment.
The marketing philosophy is based on the manner in which an organisation can view a market. The view of the organisation needs to be such that ideas for the development of the market can be analysed. As stated by Kumar (2015) an approach needs to be developed so that organisations can develop strategic plans and at the same time ensure that resources within the organisation are utilised properly. The marketing philosophy can be related to the application of marketing mix approach so that every element present in the market can be analysed. The analysis need to take into consideration every factor that may hinder the progress of an organisation in the market (Antoncic, Auer Antoncic & Aaltonen, 2016). Hence, the perception of the organisations can account for the development of a marketing plan and provide business with an opportunity to progress in the current business environment.
As observed by East et al. (2016) the marketing philosophy consists of the concepts of marketing that need to be analysed so that an organisation can improve on its marketing strategies. Usually five concepts are taken into consideration that highlights the manner in which organisations can understand the needs and demands of the customers. These include:
Production concept: This particular concept works on the assumption that the need and demands of the customers rests on the prices of a product as well as the availability. Armstrong et al. (2016) is of the opinion that the application of this concept can be applied by taking into consideration the Says Law that states that supply creates its own demand. Therefore, the focus of the companies remains more on the process obtained for production and that the products are available to the customers in a manner that is wanted by them. As stated by Malhotra and Peterson (2014) this can help in the increase of production in a company. Hence, low production can attract the customers.
Product concept: The philosophy is based on the belief that the customers prefer quality products ahead of any other degradable products. According to Babin and Zikmund (2015), the quality of the products help in influencing the quality of the products and thus, based on such influence, customers decide upon the purchase of a product. However, one of the drawbacks to this philosophy is the fact that with the focus more on the quality of the product, most organisations fail to meet the demand of the customers. This includes the timely delivery of products to the customers can be satisfied with the organisation (McDonald & Wilson, 2016). Some of the examples of product concept can be seen in companies that rely on technology for its progress.
Selling concept: According to Strauss and Frost (2016), the selling concept focuses on the actual sell of a product by formulating strategies that can help in creating a better atmosphere for the products. The philosophy ensures that every sell of the product is possible regardless of the quality and price. For this strategic analysis of a company need to be made so that profit can be made. As stated by Baker (2016) the focus for the application of this philosophy is that of making money so that relations can be built with customers. Therefore, the repeated sales can be less and deception of customers can be made to purchase the products.
Marketing concept: Selling concept cannot guarantee a long lasting strategy for any organisation. The key to success in the competing market is to ensure that needs of the customers are fulfilled. Hence, as stated by Ryan (2016) an assessment is made on the fact that customer purchase products that fulfil their needs and therefore, the marketing needs to be done based on understanding the relationship between the customers and the organisations. However, as observed by Fill and Turnbull (2016) this particular philosophy is not the only concept that needs to be focused. Some of the examples of marketing concept include perfect competition in the economy.
Societal marketing concept: The societal marketing concept focuses on the well-being of the society. According to Stelzner (2014), this particular concept focuses on the corporate social responsibility of an organisation and the manner in which it can benefit in terms of customers satisfaction. The philosophy is of the belief that organisations are a part of the society and this can help in developing a relationship with the society so that development of the organisation as well as the society can take place. Hence, the marketing activity includes the application of corporate social responsibility for the growth of an organisation in a society.
Woolworths Supermarkets is an Australian supermarket/grocery store and deals in retail business. The company was founded on 5th December in the year 1924 which is around 94 years ago in the district of New South Wales, Australia (woolworths.com, 2018). The company was founded by a number of different persons namely Stanley Edward Chatterton, Cecil Scott Waine, Ernest Robert Williams, Geoarge Creed and Harold Percival Christmas as the founding CEO of the organization. Woolworths and Coles are the largest supermarkets of Australia and together they occupy more than 80% of the retail business share of the country. Woolworth’s supermarkets are famous for selling a large range of groceries that includes the likes of vegetables, fruit, meat and packaged foods. Apart from this the management of the company also sells DVD’s, magazines, health and beauty products, different nutritional products, baby foods, stationery items and many more as such. Presently the company has over 1000 different stores across the whole of Australia (woolworths.com, 2018). The company has also established their online shop by which the company provides the customers the option of shopping online by means of a simple “click and collect option” where the customers can easily receive the goods supplied to them by the company to their houses. Headquartered in Bella Vista, New South Wales, the company has over the time established a number of different stores including additional convenience stores to facilitate the best services to the organizations.
The company Woolworths Limited was founded in the year 1924 in the month of September. The company was initially given the name, Woolworths Bazaar Limited”. the name of the company was selected from the name of the internationally renowned play on F.W. Woolworth. The management of the company decided to stick to the name of “Woolworths Limited” after they decided that the company will not have any plans for international expansion and that the company had still not been registered in the country. The company opened its first store as the “Bargain Basement” which opened in the Imperial Arcade on Pitt Street of Sydney (woolworths.com, 2018). However, the beginning years of the company showed a little or negative interest among the shareholders of the organization. The shareholders were not too keen on improving the performance of the brand and increasing the brand power. But gradual passing of years made the company more powerful and increased the competitive advantage of the market. The influx of more capital by the stakeholders of the organization and the establishment of different stores was one of the major success factors of the organization. The customers showed interest in Woolworths soon after its commercial establishment in the month of December 1924. The main attraction for the customers in the following case was the offering of a large number of quality products at the most cheapest prices. Woolworths also provided returns to the goods in case of different kind of problems in the products. The management of the company was innovative in the ideas and thus it was able to make the company, the first variety of stores in the world to install receipt printing cash register machines in the year 1926. The company was able to achieve the milestone of establishing stores in each and every states of the country after around 22 years. The milestone was achieved after the establishment of the Hobart store in the year 1940. The company was able to experiment with the groceries and the stores in the stores by increasing the supply line of the following stores accordingly. The transformation of the supermarket into a specific grocery store led to the establishment of “Big W” store in the year 1955. It was under the company and a counterpart of the organization. The logo of the company currently is the Green Apple in almost all the stores except some suburban and rural stores where the stores usually use the old logo of the company.
The slogan of the company is “The Fresh Food People” along with a proper commercial line up. The company also provides different types of reward systems for the customers of the organization (woolworths.com, 2018). The loyalty reward program of the company is classified as Everyday Rewards. The following card is a shopping card which is provided to the customers of the organization. These cards track the purchase of the supermarkets and stores fuel discount entitlements. This eliminates the use of the shoppers to retain the paper coupons that were previously used for the same purpose. The purchases are all recorded or stored under the following cards and used to provide variety of discounts that helps the company to attract more and more customers to the organization. The company tied up with MasterCard to launch a special credit card for the purpose of shopping only. The company provided the customers of the organization with other different types of advantages by shopping with them. The customers of the organization were able to earn “Qantas frequent Flyer” points by using the different kinds of the cards in every single use of the card for shopping accordingly. One point can be earned for each $30 spends in shopping. However the management of the company decided to stop the following benefit and instead decided to only offer different rewards card and points for their shopping in the market. The company operates mainly its headquarters in New South Wales. However, the central management of the organization has ensured the presence of a proper operational and logistic facility within close proximity of the different stores to ensure easy availability of different facilities for the business organization. The company uses to trade as “Safeway” in all the different types of the store locations of the business. From the year 2008, all the Safeway branded stores were branded as Woolworths. The entire process of re-branding had been calculated take approximately 5 years that ended in the year 2013. But due to the problems in the administration, many of the stores were traded as Safeway until the year 2017, when the last of them was transformed to Woolworths (woolworths.com, 2018). Apart from this there are also other brands of the company like Roelf-Vos and Purity in Tasmania. But these stores too were all transformed into Woolworths.
The serving of customers can be said to be one of the most important task of the different organizations. According to, Devin & Richards (2018) the customers must be served in a proper way that will help the organization to attain competitive advantage of the company. Marketing can be defined as the direction of the organization to satisfy the needs and the wants of the customers. The draws of the company will ensure the needs of the customers and provide attention to the individual efforts of the organization. The offering of a great customer service not only builds a loyal and a happy customer base but can also be the most powerful marketing tool due to the word to mouth referrals. Different types of research on the following subject has shown that almost 62 percent of business to business and 42 percent of business to customers purchase more after enjoying a great and out of the world customer service. On the contrary the following survey showed that over 95 percent of the customers had bad experiences over their network of supermarket among the 87% positive experience of the people. The customer service in the supermarkets can be changed or can be transformed into a positive one accordingly. Some of the major steps are as follows;
The supermarket can play a major role in the development of the society. The retail markets can respond to new shopping habits and strengthen the activities of the business accordingly. However there are major challenges that are faced by the supermarkets from time and again due to some social and cultural reasons. First of all the company has faced problems from religious extremists on grounds of selling wines and other products which are considered to be not fit for their religion (Pickles, Barrientos & Knorringa, 2016). The following trend is one of the major source of challenge to the industry as the management of the company has to ensure that no religious sentiments of any kind of religious communities are hurt by the strategies of the organization. Some of the reports on supermarkets have given immense importance on organic trends. The purchase of organic foods has been on a rise in the recent times and the experts in the marketing world believe that the trend of organic purchase is not going to slow down in the coming years. According to reports the number of people buying organic products stood at a whooping 52.6 million and now the number had grown even more and stands at 60 million approximately (woolworths.com, 2018). However, the management of Woolworths are known for their exclusive range of organic products. However, the management has sound sceptical on the further availability of the organic products due to the diminishing farmland. The absence of a proper estimate of the farmers often lead them to quit the organic farming and concentrate more on other types of farming. The management of Woolworths have thus altogether shifted from their strategy to depend on the organic farmers and instead start their own farming that will decrease the transportation cost and will thus decrease the price of the organic foods. The following process will also help the organization to attract the millennial people in the stores of the company. Millennials are increasingly becoming concerned on the quality and the quantity of the products of the company and thus the organization have to ensure the success of the company by providing the best quality of foods and products along with the maintenance of the necessary quantity.
Apart from the following challenges there are also new age challenges where most of the customers of Woolworths have been demanding for new age technologies like that of voice call and social media presence (Pulker et al., 2018). The presence of the business organization in the social media enables the organization to keep in constant touch with the customers of the organization and engage in a proper and healthy bonding between each other. However, it will be a challenge for the organization to maintain the social media presence. Voice search can be one of the major options in such case where customers can use the voice search option implemented by the company in the following case to ensure success in the market.
The current use of the different methods of planning, prioritizing and procurement of different type of works by the business organization is often not done by the utilization of the best possible resources of the organization. The planning and programming of the company can be improved by means of development of an appropriate management strategy that will be helpful for the business to achieve profit from business transactions. The most emphasis on recent years has been the increase in the share of the market by increasing market discipline by the exposure of in house competition from the outsiders of the business (Pickles, Barrientos & Knorringa, 2016). It can also be improved by the improvement of the methods of the procurement of the business and also by the introduction of a rigorous method to audit the performance of the business organization in Australia. As mentioned by, Martin (2018) the company can also utilize the extra resources by acquiring farmlands and farming in them to mitigate the extra amount of expenses spend on the different types of farming suppliers of the organization. The other resources of the company include the warehouses, storehouses, trucks, small vehicles, online assets and most importantly the brand of the firm. The management of the company can use the trucks and other vehicles to deliver products to the online customers rather than giving the same orders to the other third parties. This would help them to both increase the profit and also use the resources to the full extent. Apart from this the company can also consider the leasing out of some of the stores of the company to earn extra revenue (Pickles, Barrientos & Knorringa, 2016). This can be thought in case of some of the stores which are not profitable enough in the market. Therefore leasing out such stores can be helpful for the organization as they will be able to get rid of the loss that they might incur on carrying out the business of such kind of stores.
The effective distribution of the products and services is the main necessity of the company. The company has an efficient distribution line which is capable of providing and distributing the perfect products to the customer within a particular time. The company is a major and the largest retailer of Australia and thus it can be classified as a B2B company. It reaches out to the clients through the retail stores and has been able to supply them with almost all the necessities. The B2B distribution channel thus provides the people with all the different necessities that are needed for the people. Apart from this the effective distribution of information must also be one of the main strategies of the business (Pickles, Barrientos & Knorringa, 2016). The effective distribution of information can be obtained by means of social media presence, where the company can easily share a number of different information to aware the customers about the products available in their stores, the information can also be related to different discounts that may be available in the stores. The company values the people or the customers and the employees the most as the satisfaction of both of them is the formula to the success of the organization. The company has special provisions and policies to take care of the employees. The policies ensure the presence of a varied range of benefits for the employees which help them to be unique as an employer in the Australian market. The customers on the other hand are treated in a polite and sensible manner and all of their problems are addressed accordingly.
The mission and vision of a company both relates to the organisations purpose and the typically communicated in written form. Both the mission and vision statements are derived from the organisation and can answer different questions about what the company is and what the company values (Pickles, Barrientos & Knorringa, 2016). It also defines the future course of action of the business organisation. According to different reports more than 90% of the companies in today’s world have their own mission and vision statements that help them to ensure success and sustainability in the highly competitive market. The forms which can clearly communicate their mission and vision are seen to perform much better than those who are unable to communicate their mission and vision to the employees. The communication of the mission and vision statements of the company to the employees proves the effectiveness of the organisation and helps them to achieve their goals and objectives very easily. A mission statement can be referred to as one of the most important element of a business organisation. The mission statements generally communicate the company’s aim for being and how it aims to serve its main stakeholders. The main stakeholders of any types of company are the customers, employees and the investors who pour capital in the business for their improvement and expansion (Pickles, Barrientos & Knorringa, 2016). The mission statements have their own social and environmental impact and those are generally much longer and complex than that of the vision statements. On the other hand the values of a company are the beliefs of an individual or group and in this particular case the organisation in which they are emotionally invested. Different companies have their own different statements or guiding principles. Some of the companies try to provide a great working environment and apply the highest standards of excellence to ensure success while on the other hand some of the companies respect the culture and Customs of each and every Nation and dedicate themselves to providing the highest quality products to their customers. Thus mission statement is always more Complex than that of the vision statement.
Vision statement is a future oriented declaration of the purpose of the organisation and its aspirations. The vision statement directly contradicts the mission statement as it is based on the purpose of what the company wants to become in the future. In one word it can be said as the future strategy of the business organisation. The strategy must flow directly from the vision as because the strategy is intended to achieve the vision and thus satisfy the mission of the organisation (Pickles, Barrientos & Knorringa, 2016). The vision statements of the organisation are much brief and precise in nature. It is not Complex like that of the mission statement and price to address the issue in one go. The vision statement can also be captured in one simple tag line to impress the customers, suppliers and the employees. Short and simple vision statement thus can ensure the success of the company in the highly competitive environment. Book the mission and vision statement along with the values of the company are necessary to create a highly successful strategy of the business organisation.
The main aim of Woolworths is to be at the heart of the community and to be the best loved you Taylor for kids home and different types of family leisure. The main objectives of the company were to improve the turnover and utilise the network efficiency and also ensure that the customers can be provided with the best quality and quantity of products across the various stores of the company in Australia (Pickles, Barrientos & Knorringa, 2016). The main goal of the management of the company is to achieve a number of priorities. They are as follows,
The company starts with building one of the greatest retail teams in Australia which is capable of listening to the customers, team members and the suppliers in an efficient way. The customer programs across the different brands of the company help the organisation to receive feedback that is used for further innovation in the business. The food team of the company are valid behind the purpose and maybe the priority to make the customers the first preference for their company. The mission and vision statements of the company are applied by the management by four simple layers. Each layer has its own elements. The first layer consists of the fixation of the basics in the business. This is generally achieved by building a solid and efficient business foundation. The second layer consists of three different elements which includes good prices for the products along the right range. Secondly it includes a great service to the customers along with providing them the best fresh and Organic products. This layer is thus very important as it defines the success of the business (woolworths.com, 2018). The third layer and The Fourth layer is based upon the vision of the company where the step change understood renewal program along with the preference of the customer and the new teams and culture becomes the most important element.
The application of all the following strategies in the business makes Woolworths the largest retailer of Australia. The company is also able to change the form of the drinks business as it can be used to never the offer to provide the best value and combinations to the customers and the online stores (woolworths.com, 2018). Therefore the company is now dedicated towards providing an exceptional quality in each and every product that this sale and also to provide the customers the best value of experience along with providing Their employees a great environment to work in.
The customer buyer decision process generally destroys the journey by which a customer passes through before they buy a product. The understanding of the customers buying process is one of the most important tasks of the business organisation (Thornton et al., 2017). The proper understanding of the by buying process helps the organization to stay competitive in the market. The management of Woolworths has described five different frameworks or stages that help them to identify the buyer decision process in the market of Australia. The different steps of frameworks of the buyer decision process are as follows,
The customers in today’s modern world are increasing their demands every now and then and the definition of satisfaction among the customers has slowly been changing for the last few decades. The demand of the customer stands at such high levels that the high end products like cars, machineries, mobiles as well as computers too does not enjoy the desired competitive advantage that they expect to enjoy accordingly. The delivery of superior value to the different customers of the organization is one of the most important ongoing concerns of the different kinds of product managers (Thornton et al., 2017). The following not only includes the actual physical product but also the customer service of the organization as well. The customer Gap is referred to as the difference between customer expectations and customer perceptions. Customer Expectation is what the customer generally expects according to the available resources and is thus influenced by the cultural background, family lifestyle, personality, demographics, advertising, experience with similar type of products and many more as such. Apart from the customer gap there are also other similar limitations in the business model that includes communication gap, knowledge gap, policy gap and delivery gap.
The emergence of budget supermarkets like Aldi has posed a major challenge to Woolworth’s supermarket as the former company provides the customers the different types of products of daily use as well as other uses on a much cheaper rate. The providence of the products at such kind of cheaper rate often attracts Australian customers. This has directly led to the decrease in the customers of the organization. Therefore it is important for the organization to ensure the presence of a swift communication in between the customers and the employees and also provide the customers the products and services of their own expectations. An effective communication along with an efficient delivery system is necessary for the growth and expansion of the organization.
|
STRENGTHS |
OPPORTUNITIES |
|
· Market Leadership · Segment Penetration · Good Customer Tracking · Employee Policies |
· Can Focus on Experience · Expansion of the market |
|
WEAKNESSES |
THREATS |
|
· Absence of proper positioning · Price Wars · Partial Behaviour |
· Too much competition · Focus on health |
The retail market of Australia is governed entirely by two main organizations namely Woolworths and Cole’s supermarket. However Woolworth has a total market share of more than 80% which implies the powerful position of the company in the Australian market. The powerful position of the company in the market helps it to totally dominate the market and ensure the safety and sustainability of the company in the market. The company has also been able to penetrate each and every segment of the market accordingly. The company started their quest for penetration by targeting the upper class families and thus they filled their stores with all the upscale products (woolworths.com, 2018). The company then slowly started their penetration in the middle scale and lower scale market to capture the following market and ensure success and profitability. The management of the company also tracks the customers every moment in an organized way through the help of different kind of business analytics tool to ensure that they are updated with the demands of the customers. The proper customer tracking also helps the management of the supermarket to formulate and implement the strategy of the business in a proper manner. The management and balancing of the perceptions of the customers is another one of the most important strengths of the organization along with the presence of the proper employee policies where the strategies of the business are in line with the employee satisfaction.
The absence of a proper positioning sense during the market segmentation process of the organization makes a big weakness for the organization as it is difficult for the company to identify on whether the supermarket really offers value to the products of the market. There has also been allegations on Woolworths on being partial and favouring a certain group of people in the market by providing things of their choice and their standard. The company is known to be partial to the higher income segment as they provide much better attention and better products and services to them (woolworths.com, 2018). Lastly the company is often engaged in price wars with its nearest competitors like Coles Supermarket. In a bid to cut the completion and ensure the competitive advantage of Woolworths in the market, the company has ended up by making some extremely bad decisions on different issues related to the following.
The presence of a long experience in the Australian and New Zealand market is a special advantage for the organization which can be used as a great opportunity for expansion in the new markets (woolworths.com, 2018). The expansion of the company in other markets of the world especially the growing markets of Asia can be one of the largest opportunity for development and expansion of the organization.
The presence of large scale competition from the different organizations of Australia is a pertaining threat to the expansion and the sustainability of the organization. The different types of the threats include the likes of the threat from organizations like Coles and Aldi and also from the pertaining threat of establishment of Wal-Mart in Australia. Apart from this the rise in health concerns among the people of Australia and the increase in the stringency of different quality trademarks provides large-scale threat to the organization (woolworths.com, 2018).
Conclusion
The following report has been able to present a proper image of the marketing management. The example of a highly successful business like Woolworths has helped the report to be more compact in nature. The report has identified the different elements related to the marketing study of the following business. The report has started with a brief introduction of the marketing and then proceeded to the philosophy of marketing. After providing the basic knowledge of the marketing, the report has introduced the case of Woolworths and has further studied and analyzed the managerial aspects of the following business to make the report an informative one. The thorough analysis of the following business report will help the readers to get a clear understanding of management and a further understanding of Woolworths Company of Australia.
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