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Marketing Strategy Development

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Marketing Strategy Development

Introduction

            In this jeopardised business environment, the organisations are constantly struggling to stable their market environment through prioritising both profitable and the productive tagline. These strategic steps are related with the both economic and the industrial growth. The current report will analysis different spectrum of business issues such as consumer trend, marketing protocol and other key competencies. This report will be analysed based on the business process of Woolworth Group limited, which is Australian based organisation. The organisation has extensive retail interest throughout the Australia and New Zealand. The current marketing mix strategy will be criticised to understand the both positive and negative consequences in the current strategic insights.

 

Organisation and industrial background

In the current Australian retail market, the Woolworths have gained dominant position due to their employed business strategies.  Since 1924, the organisation is operating successful business. As per the current report, the organisation has formed duopoly of the Australian market along with Coles and has accounted 80% of total market share. The organisation is specialised in grocery selling such as meat, fruit, and vegetables. They are also selling package foods, healthy products, household products and stationary items. As per the current report, the organisation has 995 stores in Australia and they have 115,000 team members in the stores, distribution centre and the support offices (woolworthsgroup.com.au, 2018). They are sourcing 100% fresh meats and 96% fresh fruits from the Australian farmers and growers. Their market slogan is ‘Australia's Fresh Food People’ (woolworthsgroup.com.au, 2018).

Their business purpose is to deliver exceptional quality in every product, which they deliver to customers and the peoples. The values are prioritised to be one of the world’s most responsible retailers. It has been reflected their passionate commitment to conduct business for the people, customers and the planet. They have applied value-based leadership to passionate the brand advocacy, where values have been embedded across entire business dimension (Bukvic & Matthews, 2015). The mission of the Woolworth is to deliver the customers with right experience related to the shopping. They also provides excellent working environment, where empowerment strategies have been applied to facilitate both self-esteem and respect. Their mission statement includes the fact, where organisations provide profound knowledge about the products. Retail industry in Australia region has been expanded art CAGR by 2% over the period of 2013-2018. In this case, the organisation case, the organisation can get standard opportunity to maintain profitable business track within the industry. Woolworths has strong brand identity within the industry, which is effective to maintain loyal customer base throughout the world (Hatch, 2017). The organisation is present in the social media, where customers can get easy touch with the organisational product and the services.

5c for the organisation

Company: SWOT

Strength of the organisation can be defined as stronger initiatives to sharpen the competitive edge. The main strength of Woolworth is market leadership, managing perception, social policies, segment penetration and good customer tracking. As per the current report, two key players as Coles and Woolworths have governed the Australian retail market. The organisation holds 80% Market share and that has drastically reduced the competitive threats. This super market chain has moved to lower value segments through ensuring that value of the brands. The organisation is able to balance segments and mange perception across the income strata (Grannis, 2014). Employees are productive due to availability of positive empowerment strategy. In order to ensure satisfaction, they have taken stronger initiatives at all levels. With business analytics tools, the organisation continuously tracks their customers (Gao, Long & Reddy, 2016). In this case, the firm resources are divided within tangible and intangible category. The tangible resources are related with their physical assets. On the other hand, the intangible resources are Amortisation, brand identity as well as goodwill.

On the other hand, the target multiple income segments are using same products, which lead to confused signals to the customers. The organisation is facing massive price war with the strongest competitor like Cole. Due to huge pricing blunders, major losses can be visualised in the market for Woolworths.

The opportunity of the company is relied upon the experience. The organisation has personalised services, loyalty schemes and artificial intelligence for the shopping assistants. These type of facilities and experience based attribute support to differentiate them within the competitive market.

Competition is the major threat for the organisation to cope up with the market change. In the current period, their primary competitor is Cole. Online retailers like Amazon are now also a obstacle for them to reach huge number of consumers on the competitive market (woolworthsgroup.com.au, 2018). 

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