Let us start the Woolworths Marketing Mix:
Introduction Background to the task Supermarket has been encountering major challenges due to increasing competition. Effective marketing strategy is essential for the successful achievement of organizational objectives.
Purpose of the Report This paper has focused on providing an insight to the current marketing strategy and recommend for overcoming its limitations in order to ensure sustainable growth in future. Format of the Report This report has been segmented into three major sections.
First section will discuss the marketing mix components and layout. The second section will focus on the target market and the last section will provide recommendations. Marketing Mix Components of Ideal Supermarket Product The products of a supermarket must have the potential to satisfy the need Woolworths marketing mix the target market.
Price Supermarket has been encountering extensive competition and must adopt competitive pricing, psychographic strategy. Initially, market penetration pricing strategy can be adopted by the supermarkets Blythe, Place It must be located in a convenient place and the cost of distribution must be minimized Winer, Layout of an Ideal Supermarket The idea supermarket needs to place the daily essentials such as milk, bread etc at the end of the store so that the customers need to walk till the end and in between other products will be noticed by the customers.
Additionally, the fresh vegetables must be kept in the part where sunlight is adequate Sheehan, Marketing Components of Woolworths Product Woolworths focus on offering quality as well as easily accessible products.
It positions its products as healthy and wholesome product.
The organization has been able to clearly identify the need of the consumers and understood that consumers want to have value for money. Additionally, it was found that the customers have placed value on the private labeled products of Woolworths.
The strong quality control system is responsible for ensuring great value to the customers Blythe, Price The pricing strategy of Woolworths is monitored and changed periodically. This procedure is not highly capital intensive.
The supermarket uses distinct approaches for attracting the customers through promotional offers, discounts on some products etc.
The innovating pricing strategy helps in attracting the customers. It does not have a discounted store but the cost effective products and its value helps in attracting as well as retaining its customers.
Woolworths believes that price is not the only factor for attracting customers and therefore do not focus on offering huge discounts always Mitchell, Place The stores of Woolworths are located in the areas which will be convenient to the customers.
It will be accessible for the customers. Additionally, the supermarket has focused on choosing the place where the demand lies. Hence, it can be found that Woolworths has focused on both the convenience of the customers and the locations with high demand.
Additionally, Woolworths have launched online stores and it has become more convenient for the customers. Promotion The promotional activities of Woolworths are supported by the broadcasting media such as radio and television.
Billboard advertising is one of the popular medium utilized by Woolworths for communicating with the target market. Additionally, promotional activities are carried out within the store.
For example, in store point of sale, demonstration of products within the store etc are the in store promotional activities.
It publishes product catalogue and magazine for undertaking promotional activities through effective communication Wowlink. Marketing Components of Aldi Product Aldi offers wide range of own brand labels which is cheaper in comparison to other labels.
Their own specialized brands are responsible for contributing in the positive financial performance of the firm. Apart from food products, Aldi offers various products which have a significant association with the season.
For example, in winter, warm camping gear and snow gear are offered by Aldi. Aldi has positioned its products as high quality and low price which has significantly helped in attracting large customer group Sheehan, Price Pricing strategy is considered to be the most crucial aspect of the marketing strategy.Marketing & Sales: Woolworths‘ marketing strategy is one of its key strengths which have helped Woolworths to differentiate its product and secure its place as Australia‘s largest retailer.
Woolworths spends more on marketing expenses through magazines, newspapers, television and distributed leaflets.5/5(33). A supermarket chain headquartered in Australia, Woolworths is owned by the Woolworths Limited.
The supermarket chain which has an extensive network in Australia is the market leader there in grocery and food retail controlling more than 80 % of the market share. The two groups compete fiercely in several sectors. Woolworths has the dominant position in the local grocery market, with almost 1, supermarkets in Australia and New Zealand, trading under the main Woolworths banner in Australia and as Countdown in New Zealand.
Marketing strategy refers to the fundamental goal of achieving a sustainable competitive advantage and increasing sales. For Woolworths, their primary competitor is Coles as these two firms dominate approximately 80% of the industry, forming a duopoly.
In all task, Thomson need to consideration about PESTEL analysis, stockholder analysis, market segmentation, pricing strategy, extended marketing mix, promotional mix, marketing research, marketing planning, and sustainability of Thomson holiday.
Thomson holiday fits in travel and tourism industry- Thomson holiday is a most famous and big tour. Marketing Mix Mkt December 17, Scott Raasch Marketing Mix One of the traditionally used marketing tools by the firms to achieve its marketing objectives is the “Marketing Mix.” For growth and survival of an organization the marketing mix plays a vital role.