MKT550 Global Marketing

The company discussed in report is Woolworths Ltd follows an Equal Employment Opportunity. There is diversity based strategy which is based on a certified as well as developed by the group as a top management. A diversity based strategy is also certified and further grew by the top level group where part of the company’s ongoing dedication to diverse culture. The companies where all kind of workforce is rightly treated and the target is here being provide a healthy work environment and customer needs (Lovelock & Patterson, 2015).

It is important to appreciate that concept of diversity also adds importance in brining all kind of dissimilar angles to the current work culture and it can be seen in the communities. The belief of the company in providing a diverse market place has been developed and it comprise with Human Resource managers from all kind of divisions. The main aim of the report is to properly prioritize all the events in order to properly harness the diverse culture within the organization and also ensure that identifying diversity owned by the organization. Woolworth while entering in the national strategic based targets is related to Greece as a global center related to education, shipping, tourism, banking as well as commerce. There are other strong economic sectors as well and it also consist services, manufacturing, agriculture and construction (Lovelock & Patterson, 2015).  This country is also looking to serve as main energy hub for the regions within the right framework for the Memorandum discussed in Athens and the main aim is to develop institutions for the functions of an integrated market.

Size of the market and growth rates

The country has also revised Stability and development program that appreciate important kind of reforms helps in properly rationalizing the spending, rise in state based revenues, executing the gradual adjustment for fiscal and decreasing the deficit in budget with unemployment as well as public spending (Henryks et al, 2016). In the year 2006, the overall deficit was further decreased from four percent of GDP to approx. two percent of GDP which in line commitment for EU.

Population

The overall population is currently eleven million and is developing at a slow rate and the current working population is over four million and almost forty percent of the population of Greece lives in the area around Attica which mainly based on Piraeus and Athens where more than fifty percent of the industry in Greece and commerce is situated. The overall population is homogeneous and at the same times the areas like Athens and it is to lesser level the other in important cities, host a global community. The large portion in Greece’s population that is working is self-employed (Culley et al, 2017).

Market Barriers and Market Drivers

Following is the detailed discussion: -

1. There is lack of market liquidity that decreases the overall consumption, with necessary flexibility for suppliers on so many terms for payment and financing-sellers answers. The current situation has become worse with current imposition of control of capital and it has slowly improved from that time (Culley et al, 2017).  
2. The fierce competition in a traditional country like EU trading partners like Germany, UK, Netherland and France.
3. The suppliers in EU have a duty-free level along with a proximity to the current Greek Market with low amount of transportation cost as well as fast services.
4. When the competition is high in so many sectors in Greece and can further be featured as the oligopoly market and making it more challenging for so many new entrants in order to penetrate the present market.
5. EU has ranked Greece with low payment index and it also means that the overall risk is associated delayed payment specifically for public sector contracts.
6. As per OECD, the country has one of the more limited business cultures as it is persistent to inward investment. It is important to understand here is that the business is heavily and constantly regulated (Culley et al, 2017).
7. The share of public sector of present GDP has exceeded by forty percent. The public level procurement is continuously an important characteristic for the commercially based landscape. The Greece government also prefers as well as need foreign level bidders in order to partner with many Greek organizations.
8. Businesses also face constant transformation to the tax as well as regulatory based culture or environment.  

Customer Audit and Buyer Behavior

Some of the occupants of Woolworths are B&M, Store Twenty One, Poundland and Iceland. The customers who are looking for the grocery and the different eatables. The products are fresh here and are at the best price in the market. The people who do not understand the or does not require the products or are not able to find their product go to the competitors like Walmart, Cole etc.

The benefits are the discounts and the responsiveness should be effective so that it is easy to communicate. The demand is depending upon the services and the seasonal change where the people from far off places fail to the come to Woolworths for shopping. A better and a fresh quality of the grocery and the fruits and vegetables with the cleanliness in the store is what Woolworths is famous for. The buying criteria is based on best pricing and best assistance. The companies are based on the quality and the availability of the product. The services could be home delivery and on-call facility.

The decision for the products is made in the store itself with the expiry date of the product. The customers buy their vegetables and the other products from Woolworth.

Any discounts, expiry date, cheap price, best company brands are important for making decision at the time of buying the products. The products are repurchased when the quality is determined and is appropriate as per the requirement of the customer.

The customers buy the groceries for their personal food and healthy living. Hence, they make sure to get the best quality. Some customers choose the brand based on the quality, some on pricing and some on their budgeting.

The customers buy the products based on their knowledge and the recommendations. Different products last differently if stored in a proper manner, under the appropriate temperature. The elements included work for the improvement of the functioning and the sales growth. The customers use the product for their daily use and eating. The product fit to their lifestyle as the groceries are basic necessity as it will lead to the better ingredients like carbohydrates etc. The product depends on whether they are buying for any discount or whether they are taking it at full price, without compromising with the brand.

Following is the detailed discussion: -

1. Product: the company is a leading retailer in Australia. The company basically provides all kinds of grocery items making the company a main part of the marketing mix. The company also includes meat, fruits, vegetables as well as packaged products. The company has also initiated selling many kinds of things like stationary items, DVDs and magazines (Culley et al, 2017). Every category discussed by the company provides a huge variety of choices associated to brand, local production and global cuisine. Therefore, it doesn’t leave the consumers completely dissatisfied when it comes to different options. There are range of products that are constantly tested or evaluated as well as approved by the experts of the company in order to maintain the overall quality. The companies also have a diversified range of products and the range goes from bags, to jeweler to furniture and many more. This further diversified a range that has assisted the company to cater all kind of needs for the customer like one stop for customers.
2. Price: the company here also attempts to maintain the same as well as higher price in comparison to the market. It also provides variety of high end brands in categories like food chain and many other with price which is kept as competitive as possible. In addition, the company has also served the present consumer segments that prefer with low prices along with premium prices (Santos et al, 2015).
3. Place: the company is presently operating in over thousand stores in Australia alone. There are around nine hundred plus supermarket and the other are associated with convenience stores. There are few stores that function in Melbourne as a Safeway stores. They also work through so many online places. However, the company has also developed a mobile app for a better access in market. There are some important brands under the company name like Woolworth Home brand, or select, gold or fresh. When the company entered the market in New Zealand it actually trade with countdown. The chain of retail is utilizing the name of the current brand which is located in places like Germany, Austria, Mexico and UK. The company has outlets in the current regions and has large and huge distribution network.
4. Promotion: the motive of promotion is related to keenness and the overall significance for the company. The company is also involved in innovation for the same. The company also provides many kinds of Loyalty schemes for consumers which are based on petrol pump related discounts. The company also uses diverse online media along with magazines and newsletter for effective promotions. There is easy access as well as availability that have helped them to get number of loyal consumers. The company also offers different kind of deals and offers for diverse shoppers.
5. People: the company is presently working with huge number of employees and it further tends to rise with passing time. The company also excels in diverse sales assistance and accountable for the success. The main aim is accomplishing is satisfaction from consumers in a service industry and the company is a perfect example. Workforces are competent and it further contributes in right and equal manner. The company also ensures that team bonds in right manner and well with consumers (Santos et al, 2015). The company also follows a destination zero based policy where there is zero kind of harm for workforces and an environment is properly ensured.
6. Process: - the company have maintained an extremely customer focused procedure and has always aimed on the satisfaction of customers. There are aspects in process associated with supermarket that refer to the rapid or quick services for billing and also getting the bought goods in an offline as well as online platforms.  The company also ensures that the process is fast with the help of latest billing technology software and effective supports related staff. People take feedback from consumer to continuously create concept to innovate the procedure and make it further easier. This further assists them in order to maintain high level of competition (Santos et al, 2015).
7. Physical evidence: all the stores of Woolworths are attractive and clean. It is easier with customer focused in order to navigate with the help of every category of products. There are so many kinds of offers that are placed and constantly attract so many kinds of consumers. The website of the company is also put together in a good manner but yet it is user friendly and easy to function.

Competitor Analysis

Competitor Advantage of your Product 

The target market of the company is high income earners and living standard options with group eight to ten. The company is also planning to work in two markets like LSM based groups and developing black the middle class since the last few years to buy things and clothes from diverse stores. The company has six hundred and thirty seven stores that are operating from South Africa. The stores in all nine kinds of provinces consist of major towns and urban cities. The company has so many competitors in places like South Africa with competition like Pick and Pay and many others (Santos et al, 2015). However, the company does not share similar kind of values, mission and vision since the company by giving their value of consumers for the money. The company is always known for an ideal place to function with different backgrounds like people with different disability and should have the alternatives to function with the company where jobs are rightly suited. The company also has a memo based on clarity with different disability to work in Australia.

The company also sources of the higher majority people for new roles that are vacant from diverse talent pool. In addition, development and promotion of the employees, the company is also based recruitment based talent from the domestic market. The candidates are present in domestic market and it is important to source them on international level. This further makes sure that the company can access the good ideas but further continue to work with deep industry based expertise as well as knowledge base (Cliquet, 2013). There are about fifty four thousand people that have started to function with the company.

PEST analysis 

Following is the detailed discussion: -

Porter five forces model 

Discussion

1. Bargaining power of buyers: the supermarket in Greece offer similar kind of products which where switching cost is low and exist between the stores and this is why has provided buyers with very high bargaining power
2. Bargaining power of supplier: here the bargaining power of supplier in this industry changes and it completely depend on the name of the brand along with suppliers and overall size of the store. Therefore, the bargaining power of industry in Greece is high to moderate (Cliquet, 2013).
3. Industry Substitute: the industry contains so many options or alternatives for the consumers like online store, hyper store, grocery stores and many others. In fact, the customer is also willing to pay higher amount of price for the sake of convenience.  Therefore the industry is moderate to high.
4. Threat of new entrants: - since there are many kinds of offers that are low price by nature, the industry is not very attractive place to enter since there is low potential for profit. In other words, the barrier to entry comes under moderate category.
5. Competitor’s rivalry: the competition is fierce in market and this is why this category comes under intense point.

Value Chain

Following is the value chain analysis: -

1. In-bound logistics: the company is by nature is a retailer and this is why, it does not involve in the production of the product that it sells. However, the company dies control the whole distribution network for its products. This function covers two important areas which helps in contributing to the company are Procurement and logistics. The produce by the company goes directly from a manufacturer to domestic distribution centre where it is actually certified for the overall quality then directly transported to the stores (Katsoulacos et al, 2015). Also the company also owns and functions from trucks and proper distribution channel. In addition, operations through a proper distribution centre as well as trucks in the supply chain established by the company put it in a much better position to make sure optimum distribution effectiveness.
2. Operations: this step consist of two important activities that make sure that the consumer’s convenience as well as values. These steps are assessment of quality and proper inventory management. The time stock comes into stores to when the products are actually put on the display counter, there is continuous evaluation in order to diagnose and diminish defective products (Salali, 2015).
3. Market and sales: there are two important functions that consist of increasing sales and it also enables the company to compete in an effective manner. These activities are in-store promotion as well as organizational dynamism. The company has weekly offer to boost the sales in short run for specific products where the overall price of specific product are discounted. This is further supplemented with distribution of multiple sales catalogues that informs the customers about the weekly specials.

 SWOT Analysis

Conclusion

The strategy of the company to function or operates very well. It operates in a successful manner that small transformations will not impact the business much since the company knows there position in the market. The company is also able to transform the base strategy over the years as the market and customer needs changes. The strategy to adapt as per the market environment made them more successful.  This is the main reason that proves that strategy is implemented in a successful manner (Mobin et al, 2014). In Greece, most economic activity is around Athens and incentives are actually provided in order to relocate as well as invest in domestic market (Mobin et al, 2014).

References

Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson Australia.

Benos, T., Kalogeras, N., Verhees, F. J., Sergaki, P., & Pennings, J. M. (2016). Cooperatives’ organizational restructuring, strategic attributes, and performance: the case of agribusiness cooperatives in Greece. Agribusiness, 32(1), 127-150.

Cliquet, G. (Ed.). (2013). Geomarketing: Methods and strategies in spatial marketing. John Wiley & Sons.

Culley, B., Graham, J., Kay, G., Norberry, J., & Wilson, S. (2017). Digital Marketing Plan: Naked Wines Australia. Newcastle Business School Student Journal, 1(1), 68-89.

Greenland, S. J., Greenland, S. J., Johnson, L., Johnson, L., Seifi, S., & Seifi, S. (2016). Tobacco manufacturer brand strategy following plain packaging in Australia: implications for social responsibility and policy. Social Responsibility Journal, 12(2), 321-334.

Henryks, J., Ecker, S., Turner, B., Denness, B., & Zobel-Zubrzycka, H. (2016). Agricultural Show Awards: A Brief Exploration of Their Role Marketing Food Products. Journal of International Food & Agribusiness Marketing, 28(4), 315-329.

Katsoulacos, Y., Genakos, C., & Houpis, G. (2015). Product market regulation and competitiveness: towards a national competition and competitiveness policy for Greece. Athens University of Economics, Athens.

Lovelock, C., & Patterson, P. (2015). Services marketing. Pearson Australia.

Mobin, M., Dehghanimohammadabadi, M., & Salmon, C. (2014, May). Food product target market prioritization using MCDM approaches. In Proc. of the 2014 Industrial and Systems Engineering Research Conference (ISERC), Montreal, Canada.

Salali, S. (2015). Export barriers and export performance: empirical evidence from the commercial relationship between Greece and Iran. South-Eastern Europe Journal of Economics, 10(1).

Santos, M. D., Svensson, G., Padin, C., & Høgevold, N. M. (2015). Corporate risk exposure by implementing sustainable business practices-an African case. International Journal of Logistics Economics and Globalisation, 6(3), 223-235.