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The report is prepared on Marketing Audit over supermarket Woolworths. The information is collected from the environment and analysis is done on consumer behaviour due to demographic and technical changes. Also, business to customer analysis is performed for knowing about consumer behaviour. The selection of the target market and covering that market is a time-consuming and most important part of an organization. And also studies the importance of Brand positioning of products for affecting the demand of consumers over the competitor’s product.
Table of Contents
Collecting information on the external environment.
Analyzing the market.
Identifying target market segments.
Crafting the brand positioning.
The marketing audit means the detailed, systematically, periodically, analysis, evaluation, and interpretation of the environment (internal and external both) of business. The objectives, steps, strategies, and principles are analysed properly for identifying the challenges and opportunities of a marketing organization (Camilleri, 2018). The marketing audit of an organization is not done by a member of the organization; it is done by the third person. A marketing Audit is very important for determining the effective and efficient working of a marketing team. This audit will analyse how the marketing team deal with their customers and the latest technology so that the team members will improve the situation and adopt new activities for the growth of the marketing movements of an organization. The main focus of the marketing audit is to analyse the current strategies and policies of the organization and develop a plan for improvement in the marketing of products and services by the organization. Customer satisfaction is most important for increasing the effectiveness of the organization. So the marketing team develops comfortable and suitable channels for the customers for attracting them towards the organization. One of the examples of such an organization is Woolworths. Here in this assessment marketing audit is going to be performed over the Woolworths group.
The most important task of the organization is proper scanning of the environment because the environment has some direct and indirect factors which affect the working of an organization. So the marketing department studies both the internal environment and external environment. Internal environment factors are those which lie within the organization such as men, material, machinery, money, and management. The external environment consists of microenvironmental factors (controllable factors) and macro-environmental factors (uncontrollable factors). Microenvironment factors are the factors that are in partial control of the organization such as intermediaries, suppliers, competitors, customers, and the public. Macro environmental factors are not in the control of the organization such as economic, political, social, legal, technological, demographic, and natural factors. Woolworths Group is one of the biggest retailers of Australia dealing in groceries, liquor, petrol stations, and hotels. Woolworth business is so dynamic that they adopt changes according to the change in the environment. They work for the customer’s choice and also follow ethics. Woolworths not only attract the customers towards them but also change their structure and policies according to change in the environment (Naidoo and Gasparatos, 2018). They are in the opinion that change is very necessary for competition in the market.
Analysing the market refers to properly examine and evaluate the activities performed in the market and its impact on the organization, customer, and society.
Personal factors refer to a person’s opinions and interests. Such factors are affected by demographics like age, gender, and profession. Woolworth has different items for different age groups and gender.
Psychological factors are those which are related to the attitude and perceptions of an individual. Each person has a different ability to react, their perception level is different and their attitude is also different from others. For example, fresh foods to customers have a positive impact on customers but some people said that nothing is fresh or criticizes the thought of Woolworths. All these depend upon the attitude and thoughts of consumers.
Cultural factors mean differences in the buying behaviour of buyers due to their culture and caste. Woolworth has fresh meat and fresh vegetables. It is observed that Indians purchase vegetarian food items while Australians prefer non-vegetarian items from the supermarket.
Social factors include factors like class, education, and income of the consumers. Woolworths have different items in their stores for different income groups. This will help them in leading the Australia market.
Problems recognition: Content marketing
Information Search: Advertisement and Promotion
Evaluation of Alternatives: Give a comparison of own product and price with competitor’s product and price.
Purchase Decision: Inform customers about their needs and your product specialization for satisfying their needs
Purchase: Test the brand’s purchase process and make sure it must be simple with fewer steps.
Post- Purchase Evaluation: Send follow-up surveys and emails to customers to thank them or confirming any dissonance.
The target market refers to a particular group of people out of the total population which is selected by the company for providing their products (Thao and Duong, 2019).
The identification of the product is time – consuming process. There are six steps followed for identifying the market fit product:
Yes, the company can choose one or more than one segmentation base for choosing the right and small segments. This depends upon the characteristics of the segmentations and resources and capabilities of Woolworths. Also, this will helps in the proper implementation of marketing strategies.
Demographic segmentation divides the market according to demographic characteristics such as age, values, gender, and income.
Psychological segmentation is used for dividing the customer's group according to their interests, values, lifestyles, attitudes, and trials.
According to behavioural segmentation, Woolworth divides on their buying patterns such as benefits sought, brand loyalty, usage frequency, and usage occasions.
Geographic segmentation divides Woolworths according to the geographic areas such as country, region, and city.
Brand Posting refers to differentiating the brand of one product from its competitor’s product and find out the ways to make an impression about the brand in the mind of the consumer (Koch and Gyrd-Jones, 2019). Woolworths develops its positing statement by answer some questions:
The examination and detailed analysis are performed over one of the most leading company Woolworths. Marketing is the most important part of an organization. It starts before deciding the product and continues even after selling the product to customers. It means pre and post services provided to customers. There are various decision and steps which the organization have to take carefully and timely.
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