Analysis of Woolworths Supermarket-Free-Samples-Myassignmenthelp

Question: Critically evaluate the Marketing Strategy of Woolworths Supermarket in Australia. Answer: Introduction The report is presented to focus on the various aspects of marketing considering the business organisation Woolworths Supermarket in Australia. The company is one of the leading retailers, which offers a wide range of products and services online for the customers to fulfill their needs and requirements. The organization offers grocery items, healthy meat, seafood, dairy products and other health and beauty products too all over Australia and few of the neighboring states. The analysis of market is done to identify the needs and requirements in the market and provided products and services accordingly (Ayub et al., 2013). The impact of marketing mix strategy on the buying behaviours of consumers will also be illustrated in this report. The marketing activities will be managed by following the most effective sustainability principles and maintain a good position within the business environment (Woolworths.com.au, 2017). Identification and analysis of market The analysis of market is done to identify the needs and requirements of the various market segments and market the products properly to create a sustainable place in the Australian market. The SWOT analysis and PESTLE analysis tools are used to analyse the market conditions and determine the needs of people in the various market segments (Wilson et al., 2012). The SWOT analysis would help in understanding the strengths, weaknesses, opportunities and threats in the market while the PESTLE framework could help in identifying the political, economic, social, technological, legal and environmental factors that might create an impact on the marketing and business sustainability for Woolworths Supermarket, Australia (Baker, 2014). The current years have been exceptional and noteworthy for the retail market in Australia, because of which, there are enough scopes and opportunities for Woolworths Supermarket to deliver products and services according to the market conditions and gain the sat isfaction of customers too (Wedel Kamakura, 2012). The objectives of the report are to develop effective marketing approaches to enhance product visibility, analyse the market conditions and develop sustainable approaches for overcoming the environmental issues (Boone Kurtz, 2013). SWOT analysis The various market segments targeted by the organisation are young adults, customers who prefer healthy items, health conscious customers, etc. To identify and analyse the market, the SWOT analysis framework is used for understanding its strengths, weaknesses, opportunities and threats (Chen et al., 2014). The strengths include its strong brand name and image, which has made it one of the market leaders in the Australian retail industry, the leadership position and ability to exploit the market potential through proper management of human resources, technological resources and maintaining a good market presence. The proper utilization of resources has impacted the external environmental factors and developed cost effective measures for reducing the packaging and achieve zero food waste. One of the major weaknesses of the company is the restrictions by Government on keeping the costs of products higher, which has deteriorated the higher growth and sales level. The opportunities have arisen because of the advancement in supply chains, changes in the lifestyle and buying behaviours of the consumers and use of advanced technologies (Czinkota Ronkainen, 2013). Woolworths has adapted the multi-optional retailing strategy for adjusting with the changes in needs of the consumers and keep them satisfied as a whole. The threats faced by the company competitive rivalries in business, intervention of Government and continuous changes in needs of customers often makes it difficult for the company to deliver products and services accordingly (De Mooij, 2013). PESTLE analysis tool The business organisation wants to analyse the external market conditions by identifying the macro environmental factors that may create an impact on the market conditions. Political factors The political environment is connected with the organisations performance to structure the business environment and provide ample opportunities for growth and development in business. The business organisation has managed to grow with the involvement of foreign investors and trading partners managing the business activities. There are various risks that may be faced because political instability can prevent investors to enter the market and this will create lesser rate of return and more risks of business failure (Hair Jr Lukas, 2014). Woolworths is one of the major companies within the retail industry, because of which, the risks of facing loss in business in low. Economic factors The economic factors include unemployment, which can affect the business performance by reducing the sales level and creating financial issues. Due to the global financial crisis, Woolworths faced a huge loss and many of the individuals were unemployed. Within few markets of Australia, the company performed well in spite of the financial crisis. Woolworths, being a reputed and established organisation, has managed its business operations perfectly and made sure that more employees are recruited within the workplace (Hardie Howarth, 2013). Social factors The customers are the main sources of revenue or the business organisation and so identifying the needs and requirements of the target market is essential for the development of a proper marketing plan and achieve sustained profit level. The company offered the products and services at lower prices for making those affordable for the customers and ensures that the social trends are taken into consideration (Ho, 2014). Technological factors New forms of technologies are considered and the utilization of RFID has helped the retail company to manage the inventories properly and ensure that the stocks are kept under control for the customers. The integrated service oriented architecture could help in managing its business operations properly and support the technology for effective management of supply chains across the industry. The self service check out has been considered as an effective innovation procedure that created convenience for the customers to purchase the products and make the company attain a positive brand image (Hollensen, 2015). Legal factors The policies of taxation and employee management regulations have been effective for managing the licensing procedures, which also maintained the good quality of products and services in accordance with the organisational rules and regulation. The Government authorities have also supported the organisation by introducing new retail outlets and work according to the legal requirements (Ikerd, 2012). Environmental factors The environment friendly approaches are considered as effective for minimizing the negative impact on the environment. Woolworths has managed the sustainable approaches by reducing the carbon footprints and wastage of natural resources too. The materials used by the company to manufacture products were recycled and the sourcing of food was done through ethical procedures. This allowed the company to maintain a positive brand image and support the sustainability approaches of the organisation too (Jobber Ellis-Chadwick, 2012). The information and communication technology system has enabled the business organisation to manage its customers services properly and ensured that any queries made by customers regarding the products and services are dealt with. This would make the customers satisfied as well as create a positive brand image about the company, furthermore improve its sales and profit level. Role of marketing mix on the consumer behavior, sustainability and social justice The marketing mix strategy is used by Woolworths to analyse the brand and the market segments comprising of the customers through assessment of various components such as product, price, place and promotion (Kajanus et al., 2012). Product Woolworths, being one of the leading Australian retailer has provided different types of grocery items such as meat, dairy products, fruits, vegetables and packaged products. A wide range of products is offered, which gives the customers enough scopes to identify their needs and purchase the products adoringly. In terms of choice, they are never unsatisfied, because they can rely on the one stop store where they can gain accessibility to not only grocery items but also fashion items, house wares, clothing accessories, etc (Thompson McLarney, 2017). Price The prices of the products are kept consistent by Woolworths though there are premium products too that have higher prices. Thus, the company serves both types of customers, who prefer lower priced products as well as products available at premium prices (Lang et al., 2012). A shopping card is provided by the business to its customers, which can allow for tracking the purchases and provide additional discounts wherever applicable. Place There are more than 1000 stores of the retail company in Australia and because of that, it supports multiple market segments in Melbourne, Victoria and even online businesses are managed. The online platform has created convenience for the customers to get the products delivered at their doorstep after making the purchase online. The company for placing the new label brands including Woolworth Homebrand, Woolworth Select, Woolworths Fresh, etc introduces a mobile app. Because of the wide distribution network, more customers are getting attracted, which has increased the revenue too (Leonidou et al., 2013). Promotion The promotions are done by involving social media to spread brand awareness. Extensive deals and offers are provided by Woolworths to make the customers aware of the products and influence their buying behaviors. The promotional channel has allowed the company to reach the targeted market segments and gain profit (Terpstra, Foley Sarathy, 2012). Sustainability principles Woolworths identified the environmental impact across the value chain and promised to innovate its business operations for the creation of a healthy environment. The company has considered the circular economy effective, sourced the environmentally sustainable components and responded to changes in climatic conditions too. There have been investments in renewable energy to develop new technological and commercial opportunities and ensure business evolvement (McDonald Wilson, 2016). The company has managed its suppliers properly for developing abilities to handle the climatic conditions risks and focus more on water conservation. Recycled packaging is adopted to reducing use of polystyrene trays and keep moving towards a circular economy. This would reduce the loss in stocks, improve the ways of managing wastes and effectiveness of food rescue programs. By implementing these kinds of programs, it would be easy to reduce the carbon footprint and maintain ecological balance in nature ( Morgan, 2012). Review From the report, I understood how Woolworths Supermarket has marketed its products and services by identifying and analyzing the market scenario. The business organisation is quite established and is considered as one of the major retail companies in Australia. The identification and analysis of market was done by analysing the objectives at first, which were to enable proper marketing approaches for making products and services availability to the customers properly, develop sustainable approaches for preventing negative impact on the environment and finally cope up with the changes in consumers behaviors and deliver products to satisfy them (Perreault Jr, Cannon McCarthy, 2013). The PESTLE analysis was done, which showed that the political instability could result in affecting business performance whereas the economic factors helped in providing employment opportunities to many people all over Australia. The 4 principles of marketing mix were products, prices, place and promotion that had been effective for marketing the products and services of Woolworths properly, gain satisfaction and this generated more revenue in business. Lastly, few sustainability approaches considered by Woolworths to create a good brand image and maintain a healthy environment. Few of the approaches to sustainability were investments in renewable energy, sourcing of environment friendly sustainable components and using the food rescue programs for decreasing the carbon footprints (Shaw, 2012). All these vast amount of information and knowledge would help me to advance in my career and become successful in my professional life too. Conclusion The report was created for managing the various aspects of marketing and become one of the major retailers in Australia. The company offered good quality grocery items and the proper marketing mix strategy also helped in fulfilling the needs and requirements of the people in the market. The identification and analysis of market was done with the help of SWOT and PESTLE framework and the political, economic, social, technological, legal and environmental factors affected the business functioning. 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