Integrating Metrics Marketing Curriculum - Myassignmenthelp.Com

Question: Discuss About The Integrating Metrics Marketing Curriculum? Answer: Introduction: Woolworths is the leading company involved in the Australian retail marketing. It provides basically every grocery items required by an individual under one roof. This includes fruits, vegetables, packaged products and meat (Woolworths.com.au, 2018). Moreover, it started selling products like stationary items, DVDs and magazines. Recently the company has diversified its product range by providing jewelry, bags, clothing, household items and accessories. In the recent times it has more than thousand stores in Australia, which includes maximum super marketing and various convenience stores. In the current scenario, the organization is marketing its product using through online and social media platform. Woolworths has recently generated a mobile app for the consumer to make their grocery purchases. It provides facilities like speedy billing services to make sure that the process is faster and provide maximum satisfaction to their customers. Moreover the marketing management techniques used by the organization helps in retaining its position in the competitive business market. Furthermore, its marketing technique using social media platform and digital communication helps in providing timely feedback from the customer. This helps the organization in constantly innovating and creating new marketing process. Marketing management in the business environment: Marketing is the most vital activity for a business as it affects both the sales and productivity for a business simultaneously (Hutchinson et al., 2015). The key element of the business marketing efforts is in creating maximum satisfaction to the consumer, which would benefit both the organization and the customer. Marketing is an important business function that is significant for all the industries whether it is profit or non-profit organization. Marketing is the organizational area that involves interacting with the public more often. As the customer believes that the organization is creative based and dynamic based on their advertizing message. At a much broader level, marketing generally offers crucial benefits to the community. This includes developing products for satisfying the needs of the consumers and enhancing the quality of life of the society. Woolworths sells a variety of products including clothing, food, vital products and home ware. They also facilitates financial services with Abas bank as the joint venture the financial plan provides the consumer with various services, Luke store cards, customer loans and the visa cards of Woolworths (McDonagh Prothero, 2014). Woolworths current potential target market includes the living standard measures and high income earners. The organization is planning to target its potential customer so that they could purchase clothes and foods. Woolworths is a leading organization in market grocery sales and serve more than 10 millions consumer per week. During the mid 1980s, Woolworths was regarded as the biggest retailers of food in the Australia. By the time 2001, it gained more than 38 % in the national grocery market. Therefore it has now become leader in the market grocery sales for serving millions of consumers per week. The marketing strategy of the organization focuses on quality, greater conveniences, lower prices and range is gaining strong consumer acceptance. The major focus remains on building sustainable business management by continuously improving the consumer services by offering rewards to the potential customers with quality, better value, lower prices, freshness, convenience and services (Rokka, Hietanen Brownlie, 2016). Strategic management process of Woolworths: Woolworths has initiated various vital marketing strategies by overcome the existing threats and living a long-lasting impact on the customers. The organization has been able to satisfy the demands and requirements of the customers by providing them product diversification, prices and quality. The major outstanding marketing strategies of Woolworths are the application of its e-commerce instrument through its website. The products displayed on the company websites major emphasis is given to its grocery items, which is the strength of Woolworths (Fischer, 2015). This aspect helps in gaining competitive advantage over its competitors like Aldi and Coles by ensuring its image related to The fresh food for people. Therefore, this helps in providing the customer with better understanding for the product. Woolworths main vision is to deliver its customer with right shopping experience every time. Moreover, the mission statement of the company states that they lead their consumers through efficiency and excellence, providing the deep knowledge for their services and products. The main strategic priority of the company is to create multi option retailing related to better quality services and products, low prices and in stores experience for meeting the requirements of the consumers (Chang, Yu Lu, 2015). Woolworths has proved to be the largest online retailer in New Zealand and Australia by reaching its set goal of AUD$1 millions sales in the online channel by the end of financial year 2104. The practices used by the Woolworths to achieve the strategic priorities include the following: Extend leadership in liquor and food: Re-establishing the market campaign for boosting business growth by adding values to the stakeholders so that they can expand the market shares in Australia. It also emphasizes using reinvigorating progress to the countrys retailing industry by becoming leader in facilitating in-store services, values and fresh product. Maintaining track record for building new growth: Woolworths operations aims to be the most worthy and trusted leaders in multi options retailing. It is supporting innovative and creative start for developing sustainable, unique and profitable improvements. Its approaches to new domestic areas and multinational market opportunities through social media are highly significant (Singh et al., 2017). Maximizing its shareholders value: Woolworths has accelerates the alignment with Big W offered to their new customers. . It improves the long-term relationship with the organizational stakeholders and further adding extra value by investing in businesses for them (Felix, Rauschnabel Hinsch, 2017). Moreover, changing the staffing policy to take advantages by using international and local best talents is crucial. SWOT analysis of Woolworths: Strong financial performances: Woolworths majority of businesses, like Safeway Supermarket, Dan Murphys and Big W have presented significant financial status in the past few years (Agnihotri et al., 2016). Woolworths has reached to 7.96% increase in revenue in the five years, which is generally high than the other competitors like Bi-Lo and Coles (Woolworths.com.au, 2018). Updating more facilities and opening more stores is the organization major strengths. Reputation and trusted brand name Woolworths has been ranked as the leading retailer in overall leadership and responding creatively to the needs of the customers. Moreover, by the end of 2012, the organization was voted as the leading sustainable retailer for in New Zealand and Australia in the term of range of products, business size, price and services. Better relationship with its suppliers: Woolworths has focus mainly on developing long-term relationship with their suppliers and producers. The organization is proud of its relationship with their suppliers. Its program Fresh Food Future was implemented for promoting sustainable agriculture by helping farmers and awarding about it via social media (McCabe, 2017). Weaknesses Significantly increasing debt The debt rate has risen considerably by the year 2012 as compared to its last five previous years which is increasing the possibility of organizations financial risks. Opportunities: Increasing online retailing: Since the last few years, the future of Woolworths has increased significantly due to advent of computerization. The advancement of latest technology, manufacturing innovations, supply chain and variations in the life style of the consumers has expanded the online retailing industry. The industry now is driven by internet development and digital commerce (Lamberton Stephen, 2016). Through its online shopping for its quality business all over New Zealand and Australia has significantly increased the profit of the Woolworths in the recent years. After downloading the available app of Woolworths in their phones, the consumer can easily get access to Big Ws shopping website. This further led to increase in 10% of transactions during its 2012 promotions (Armstrong, Delia Giardina, 2016). Threats The increasing competition among the countrys major retailer is the main threat to Woolworths. The organizations everyday low price strategy is now applied in a different way by its competitor Coles through its price rewind strategy. The other threats of Woolworths in the organizations market are unpredictability in Australian business environment. Marketing Strategy: Marketing strategy are the fundamental goals set by the organization for increasing it sales and achieving sustainable competitive advantages. The major competitor of Woolworths is Coles, as both the organization are the leading retail business in Australia dominating over 80% of the retail industry, which give rise to duopoly (Woolworths.com.au., 2018). Woolworths has initiated grocery discounts and pro option are generally done by celebrities for its premium label products to create a positive impact on it sales. Woolworths has set its values and strategies by the following ways: Marketing their products responsively and ultimately become a brand value driven business To be a customer focused business by improving their core offer by ensuring that the consumers put Woolworths at first (Wardle Chang, 2015). To improve availability and growth by meeting the customers need as well as Ensuring that the workers right are respected. To simplify the business model and ensuring efficiency of business through its lean retail model. The organization has initiated its new value and pricing strategy for increasing the sales. The online prices have been made aligned with the store pricing. Recently variety of click collect locations is installed by Woolworths to increase their customer convenience and also including drive-thru collection points. The companys online marketing strategy is positioning themselves as the proactive and aware leader in the retail industry (Devin Richards, 2016). The strategies techniques used by Woolworths lead generation through brand awareness and consideration leading to direct sales Marketing plan using digital communication: More than 85% population in the world are using internet for purchasing and almost half of the internet users are generally regular online shoppers purchasing goods online at least once in a month (Spiller Tuten, 2015). The decision making process of the consumers are greatly influenced by the fellow customers. As the recommendations and comments posted by them about the products or services greatly affects the fellow consumers and they review the products or services thoroughly before purchasing a product or services. In the recent times people are increasingly blocking or filtering the traditional marketing approach. Woolworths use digital communication techniques through its outbound and inbound marketing. Te outbound marketing of the organization includes prints ads, emails, telemarketing, trade shows and TV ads, which are generally resisted. Moreover, the inbound marketing strategies of the organization include social media, blogging, RS, viral videos and free trials. Previously the concept of word of mouth has now been replaced by word of mouse. The consumer engagement and participation through the digital communication helps in developing credibility and building reputation for Woolworths. The potential customer provides feedback enhancing the organizations brand name by conveying their opinions. It further helps in exhibiting capabilities, news and expertise to the society at large (Saeidi et al., 2015). Woolworths provide its real time conversation and news though the latest digital communication techniques. Recently the social program is strategically integrated into the companys marketing mix and the followers are able to learn about the brands and eventually becoming leads and the ultimate customer of the organization (Ngai, Tao Moon, 2015). Internet marking through online advertizing and selling is helping Woolw orths in unlocking the potential customers unaware of its latest products or services. Overlays and hotspots are the strategic placement of digital brand integration is used by blending Woolworths branded products into most viewed program through video pre-roll. Social media platform usage: The marketing communication done through social media and its users are significantly becoming important as nowadays, the marketers are becoming very proficient in it. Social media includes You Tube, Blogs, face book, Linked in, twitter and websites. The three spheres of social media are generally done through sharing, publishing and networking. The marketing plan used by Woolworths using the social media is effective for building anticipation and exclusive information. The mobile and internet application is providing new platform for advertizing and marketing. The media consumption usage is increasing day by day. The information or the marketing plan first catches the eye of the customer creating awareness. This is followed by reviewing the information about the products or services and raising consideration or favorability for the product. Finally this leads to the purchasing of the products online. Woolworths is using these marketing techniques since many years and thus raising it s loyal customers (Peloza Montford, 2015). Woolworths segments its market by creating a rich CRM database and updating it with their each and every customer contact. A target potential market is further created through e-mail marketing campaign to track about the behavior of its potential customers or the users. Woolworths develop their personalized web experience by providing multi-channel entry through phone and email. Moreover, the latest marketing plan using digital communication enables in capturing the sales details for the organization. Woolworths uses online video commercials that generally occur prior to a video online, which is typically of 30 seconds in length. The organization uses pre-roll advertizing techniques for marketing. The pre-roll strategic techniques guarantee that the consumer would see and hear the commercial before the actual streaming start for the video content. It is a simplest technique of utilizing the online media for promoting a product and services. Responsible marketing of Woolworths: Woolworths Ltd. believes in loyalty and maintaining trust for the customers as its cornerstones. The organization is continually initiating new strategies for building trust as well as rewards its customers. With more than 3500 locations and being an important part of the society, it serves the community by becoming a significant contributor to the communities across New Zealand and Australia. Woolworths believes in buying and selling its product responsibly by providing safe and quality products (Wu et al., 2015). They deliver choice and values for its consumers that mostly focus on their wellbeing and health. Woolworths is committed in upholding their human rights by respecting it employees as well as its supply chain. They believe in responsible buying by dealing fairly and acting reasonably with all their trading partners. Woolworths will create in the near future affordable healthcare eating index that will be based on the customers shopping habits. This strategy would help the customers by supporting them in making healthier food choices by providing knowledge, inspiration for the customers to get more affordable healthy foods easily (Carey, Parker Scrinis, 2017). The main aim of the organization is to invest in generating products that would help in improving the brand portfolio besides serving the potential customers and communities. Conclusion: Therefore, it can be conclude that efficient marketing management and digital communication techniques in the recent times can maximize the growth of the organization. Woolworths online shopping marketing strategy has increased its brand visibility at a global level. New and rising consumer behavior besides the growth of media has made the traditional marketing strategies ineffective. The future communication strategy involves media integration with the marketing management of the business. The organization believes in earning the consumers trust by enabling them in making decisions that would be beneficial for their own health and increasing organizations goodwill. Woolworths collaboratively engage with their stakeholders for the benefits of the society. It is the leading retail store online through its system excellence and creating sustainable sales momentum in the food industry. Furthermore, the organization has increase its customer in the recent years due to its low pricing str ategy and inspiring healthy choices to its customer and supporting the overall community by providing responsible services. References: Agnihotri, R., Dingus, R., Hu, M. Y., Krush, M. T. (2016). Social media: Influencing customer satisfaction in B2B sales.Industrial Marketing Management,53, 172-180. Armstrong, C. G., Delia, E. B., Giardina, M. D. (2016). 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