Part A
Step 1
Question 1
Woolworth group limited is the largest Australian supermarket grocery chain. It operates
around 1076 stores in Australia. It deals in groceries, Foods & Vegetable, Fresh, Pantry,
Drinks, Liquor, baby products, health & beauty & household products. It has 14.6 million
regular customers & Around 5,000 online customers. Its business value is $ 34.6 billion
Woolworth’s strategy is based on the following 3 things:
(A) Continuous Growth: Woolworth tries to do innovative things to fulfill the need of customers
(Westwood, 2013).
(B) Providing offers: Woolworth try to improve their core offers. So that customers will buy to
prefer from them
(C) Improving the efficiency of work: Woolworth tries to improve the efficiency of the work.
So that it can deliver the best service to the customers.
Question 2
Woolworth uses its marketing strategy effectively so now ithas captured the highest market
share compared to other supermarkets. It follows the STP (Segmentation, Targeting, and
Positioning) approach for its marketing strategy.
Segmentation: In this strategy, the company divides its total target market into small markets
based on different criteria like Geographical, Demographical & Behavioral. Demographical
criteria are based on the following points: Gender, Age, or Income level. Geographical
criteria are based on the location of the business and Behavioral criteria are based on those
people of prefer quality products.
Targeting: In these criteria, we selected the final target market depending on their age, Taste
& their gender it also includes the geographical criteria.
Positioning: In this criterion, company try to get the comparison with its competitors
according to position, price & quality of product.
Question 3
Every Business performance depends on its SWOT analysis (Strength, Weakness,
Opportunity & Threat)
Strength: Woolworths is one of the oldest companies which introduce the modern retail
trade. It’s a well-known Retail company of Australia which has 900+ stores, It has more than
1, 00,000 + employees. & $34.6 billion market value. It is a very famous brand name which
is famous for its efficient operations (Westwood, 2013).
Weakness: The main weakness of Woolworth is that its approach is very low in the global
market.
Opportunity: It has a wide opportunity to expand its business in geographical locations. As
we know that its well-known brand so it can promote through advertising, & promotions. It
can also promote it through the franchise model.
Threats: The threats depend on the market condition like rising the cost of raw materials of
food & non-food products which impact company profit. Another threat is economic
recession. another threat is the competition from the international competitor.
Question 4
The company makes the strategy to develop the organization’s capabilities for business
growth & success. Woolworth tries to implement their Green refrigeration technology
through which perishable goods can be stored for a long time. Capabilities is kind of skill of
the organization through which we can use the resources of the company to increase the
productivity of the organization. Capabilities of Woolworth are:
A) Providing the customer service efficiently to assist them to choose the right product related to
their needs.
B) Another capability of Woolworth is the availability of stock.
C) The most effective is its marketing capability to ensure that business runs smoothly&
efficiently.
External Business Environment
Question1.
Business market growth depends on its total sales. Growth can depend on many factors like
when sales increases constantly we need to fulfill the requirements related to stock
availability, Stock management, Cold storage, follow FIFO methods (First in First out).
Another factor is market competitors & their strategies that will affect business. So we need
to focus on the quality of products also rather than their quality.
Question 2
Labor force participation of people of a particular age group, education of people, Race &
ethnicity of people’s family structure is some points that may affect the marketing strategies.
Question 3
The External Business environment may affect the marketing. We need to get the information
about competitors in the market Like their offers, their strength, Weakness, etc So that we can
get the information that will help to grow the business. Also, the company needs to set a
benchmark strategy for itself so that company will try to improve its service according to it &
which will help to achieve the benchmark which has been set for company growth.
Question 4
The external business environments which can directly or indirectly affect are:
Customer’s trend: We need to do marketing according to customer needs & trend. Nowadays
most of the company does surveys to know the taste & preferences of customers. It depends
upon the Government’s activity & demographic changes like new place & new opportunity
etc.
Question 5
Opportunities presented
By the new technologies
Nowadays most of the company does their marketing strategy according to market trends like
Social Media, Users survey, Data Analytics, etc. These are some tools through which we can
get to know the detail about customers’ preferences. We can promote the products & services
through social media which is very trendy nowadays. We can get the data about people like
& dislike through which we can get to know about their choice & their need. So that
company will serve the products & services according to their need.
Step 2
Question 1
The opportunity or success of any product or company is based on the Internal & External
environment.
Factors that relate to the External Environment are:
Political changes are like any agreement related to trends. Social factors like age factors
changes in their lifestyle etc. Economic factors like Exchange rates & interest rates.
Technology factors like new material or any equipment, Environment factors such as
environmental law and its impact on the environment.
Factors that relate to the Internal Environment are:
SWOT Analysis of any company like its (Strength, Weakness, Opportunity & Threat)
These are 4 main things that will affect the company’s internal environment.
Question 2
A list of new innovative marketing strategies
a) Try to upload the educational content related to the products like its origin, taste types,
benefits, etc.
b) Provide solutions 24*7 related to customer queries & help
c) Keep promoting the new products & provide the discount & offer information related to
products on social media OR on the Company’s website
d) Reward to loyal customers to show your appreciation who have been associated with the
company for very long time
Question 3
The marketing channels and distribution networks will use for marketing communications
and materials are Print media, TV advertisement, and Marketing on Social media platforms.
We can promote our product or company through local news channels, & through the online
surveys, we can enhance the skill of marketing.
Question 4
Every company should have to run the business according to its ethics & government laws if
it wants to succeed or Sustains in the market for a long time. A company that follows the
Legal rules & ethics will help to improve its brand values. It also creates a good image in
customers’ minds. It generates the faith of customers to keep doing business with that
company because they know about the ethics & law which the company follows to create its
brand image.
Question 5
A stakeholder is a kind of individual or a group who has direct or indirect Stakes in the
company Consultation with stakeholders is meant to inform the public about plans for
upcoming projects. Stakeholders can be (Owners, Employees, Managers, Shareholders,
students, etc.) Stakeholders can beneficial for decision-making of any project they eill help &
assist with their ideas & feedback related to the project. So its very necessary to take
consultation with stakeholders.
Step 3
Question 1
Before prepare any marketing plan we need to observe some point like. We need identify the
reason of marketing like why it is needed & the key points of marketing related to any project
& services we need to highlight those key points, which will help to focus on successful
marketing plan. Some essential points which will useful for marketing are : Marketing
Strategy- Before starting any marketing we have a better strategy includes Target Customers,
Age factor, Their like, Dislike, Consumable demanding products & it also depends pn
geographical factor like their location etc. Budget- We have proper budget related to
marketing which we have decide during the preparation of Strategy, Timeline- We need to
decide the timeline of marketing in which we have to complete it.
Question 2
We can provide the opportunities to colleagues by deciding their duties during the marketing
campaign. We need to observe that which colleague will do better in which segment we need
to identify its first then divided their duty accordingly. Offer them a reward or prize by doing
essential work so that colleagues will be happy to perform this task. It can also improve their
productivity related to work.
Step 4
Question 1
Evaluation criteria will depend on the following factors:
Evaluate the return on investment – We need to evaluate that the money which we used to
market the product which will increase the profit of the business or not.
Review the numbers of sales figures – Identify the monthly sales to compare with another
sale for the same month or the previous month.
Taking the feedback from outside people- Conduct a feedback survey from outside people
by asking about the quality of the product
Keep eye on Competitors: After completion of marketing, we need to keep eye on
competitors. Ensure they are not copying your ideas and strategy also keeps a look at their
business to get to know about the effect of the marketing campaign.
Question 2
Methods for success evaluation of benchmarking are:
Create a future goal & work accordingly to achieve them.
Review on total budget for marketing
Making an Effective & unique strategy that will surely give the best result.
Check Performance – Performance can be checked through KPIs by comprising to the current
cost & previous data in figures
Question 3
To evaluate the benchmarking of marketing we need a time frame in which these evaluations
will be conducted. We need to prepare a time Frame strategy to evaluate it.
Question 5
Proper communication should be required during the evaluation of marketing. We need to
compare the previous data with a new one in that if we need any suggestions or changes
related to the product we can apply the same (Chernev, 2020).
Step 5
Question 1
Set your Goal of marketing
Prepare the marketing budget
Conduct the research related to marketing
Identify the Target customers
Analyze the report
Prepare implementation of schedule
Evaluate the process
Question 2
First, we have to look at the type of data whether it is qualitative (Contextual) or quantitative
(Numeric). Data can be taken through Conducting Survey, Feedback, Through online
tracking & social media.
Data can be monitor through its life cycle.
1 Generate the data
2 Collection of data’
3 Processing of data
4 Storage of data
5 Management of data
6 Analyzing of data
7 Interpretation of data (Đokić, 2016)
Part B
Report based on marketing activities
The research was conducted because the company wants to evaluate the sales figure & to
create the brand image of the company in the customers’ minds (Chernev, 2020).
To implement any marketing plan company need to observe some factors. We needBefore
preparing any marketing plan we need to observe some points. We need to identify the reason
for marketing like why it is needed & the key points of marketing related to any project &
services we need to highlight those key points, which will help to focus on a successful
marketing plan. Some essential points which will be useful for marketing are Marketing
Strategy- Before starting any marketing we have a better strategy including Target
Customers, Age factor, They’re like, Dislike, Consumable demanding products & it also
depends upon the geographical factor like their location, etc. Budget- We have a proper
budget related to marketing which we have decided d during the preparation n of the
Strategy, Timeline- We need to decide on the timeline of marketing in which we have to
complete it. Identify the reason for marketing like why it is needed & the key points of
marketing related to any project & services we need to highlight those key points, which will
help to focus on a successful marketing plan. Some essential points which wibell useful for
marketing are: Marketing Strategy- Before starting any marketing we have a better strategy
includes Target Customers, Age factor, They’re like, Dislike, Consumable demanding
products & it also depends upon the geographical factor like their locat, ion, etc. Budget- We
ha have a proper budget related to marketing which we have decided on during the
preparation the of Strategy, Timeline- We need to on decide the timeline of marketing in
which we have to complete it.
The research was conducted based on the internal & external environment for Internal we
take sales figures to find the difference & for External we take online surveys to know the
brand awareness among people.
The main reason to conduct the marketing activities is to know the customer feedback, their
lifestyle, their trends, etc. Also on other hand to know the internal performance of the
company also, which are as follows-
Factors that relate to the Internal Environment are:
SWOT Analysis of any company like its (Strength, Weakness, Opportunity & Threat)
These are 4 main things that will affect the company’s internal environment (Đokić, 2016).
Factors that relate to the External Environment are:
Political changes are like any agreement related to trends. Social factors like age factors
changes in their lifestyle etc. Economic factors like Exchange rates & interest rates.
Technology factors like new material or any equipment, Environment factors such as
environmental law and its impact on the environment.
We take the sales figure & feedback of customers to analyze the results.
The overview to develop any marketing strategy is to evaluate the company’s internal factors
like Strengths, Weaknesses, Opportunities, and Threats. To evaluate the external factors also
like: to know the lifestyle of the consumer, and their taste, &find the new opportunities to
establish themselves as a market leader (Đokić, 2016).
Part C
Report presented to the Stakeholders of the company
Based on the ongoing evaluation, which includes the feedback of customers & analysis sales
figure & report it has been noticed that to conducting these evaluation marketing it has
impact on the company on positive way. Which result to improve the sales figure of the
company products & create its brand image successfully in customer? They are happy with
company’s product & services.
On the other hand there is a weakness of company which has been found during evaluation is
that we are lacking in approaching the global customers If we try to approach in global
market that will increase the more revenue for the company.
References
Chernev, A. (2020). The marketing plan handbook. Cerebellum Press.
Đokić, I. (2016). Planning of integrated marketing communication as part of a strategic marketing
plan. Anali Ekonomskog fakulteta u Subotici, (36), 79-93.
Sarsby, A. (2016). SWOT analysis. Lulu. com.
Teoli, D., Sanvictores, T., & An, J. (2019). SWOT analysis.
Westwood, J. (2013). How to write a marketing plan. Kogan Page Publishers.