Study: “The Woolworths strategy in implementing the marketing concept”

Explain the four principles of the marketing concept. Use quotes from the case study to show the strategies that Woolworths employed when implementing the marketing concept.
Transcribed Image Text:CHAPTER 13 Marketing management omplaints her main e the profit ole of the for all our stakeholders. kimisation ctive of the Our focus is on retaining our current customers, actively acquiring more customers in our target market, and increasing their penetration and spend. Qur WRewards programme provides our customers with compelling loyalty benefits nd offers and is key to building customer loyalty, driving customer acquisition, harketing led to this eveloping illustrates g concept, which all frequency, and spend. We will continue to use our customer database to further leverage data and perform deeper analytics to derive insights to drive further cross-selling and up-selling opportunities, optimise and personalise campaigns. round for 2. Towards connected retail We continue to move towards connected retail by delivering exceptional products coming years, our customers are becoming increasingly digitally connected, demanding a connected retail experience. . We are committed to improving our service for online customers and growing and and experiences to our customers in a seamless and integrated way. . While stores will remain the dominant channel for South African consumers in the improving our digital presence. • We will continue to invest in our store footprint. • We will continue to build the brand in the rest of Africa by focusing on our top Strategic objectives for 2019 onwards: •We aim to foster an emotional connection with our customers as we provide them with on-trend, stylish, quality, and affordable products and demonstrate our care for our customers, people, partners, community, and planet. • Our Woolworths brand is the anchor of our FBH offer. countries and stores, growing space in East Africa and Mauritius. 3. Be a leading fashion retailer in the Southern hemisphere * Our newly elevated and capacitated design team will drive brand-focused ways of working to provide fashionable, stylish ranges appealing to the brands' relevant customer segment. ne will ensure that we deliver the difference' by focusing on quality in everything by staff and supplier training. 443
Transcribed Image Text:ches rew 13: NT | 11E 4. Become a big food business with a difference Strategic objectives for 2019 onwards: to ensure that we provide our customers with quality, safe products. physical, social, and environmental factors, We are building an integrated world of wellbeing, which takes into account all these factors as we aim to become our customers' food partner in healthy living. •We will continue to provide innovative, inspiring eating solutions catering for a variety of different customer needs. we continue to focus on improving our customers' price and value perceptions. We will continue to use data analytics to inform and tailor our price and promotions decisions to profitably drive sales. 5. Drive synergies and efficiencies across the Group Strategic objectives for 2019 onwards: We are investing in our supply chain to enhance store replenishment and online fultilment capabilities at lower cost with increased control and elimination of capacity risk, facilitating decreased transport costs and better delivery lead times. • We are implementing world-class merchandise processes and systems, improving availability of products in both FBH and Food and evolving our IT platform to provide flexibility and support the delivery of innovative, cost-effective, and sustainable solutions. We focus on scientific retailing to turn data into actionable insights. We recognise that our partnerships with our suppliers provide us with a competitive advantage, and we are committed to growing and protecting these relationships by integrating even more closely with them. Our people are critical to the successful execution of our strategy. We aim to attract, inspire, engage, develop, reward, and retain the right and diverse talent, and enable collaboration through a modern and connected people experience. 6. Embed the good business journey throughout our business Strategic objectives for 2019 onwards: • We are aligned with the Group's focus areas and sustainability commitments, and will contribute towards these by continuing to develop sustainable practices. • To achieve our ambition of 'zero packaging waste to landfill', in the medium term, we are focusing on phasing out single-use shopping bags, removing unnecessary single-use plastics from stores, ongoing customer education on the role of packaging in the elimination of food waste, and continuing to partner with government and industry stakeholders to develop technically and commercially viable solutions for recycling different plastics. • We are passionate about playing our role in building South Africa and supporting inclusive growth. We contribute towards this by developing and communicating clear BBBEE targets for the next three years, and by continuing to support emerging businesses through our Supplier and Enterprise Development programme. Source: Woolworths Holdings Limited. 2018. Woolworths Holdings Limited 2018 Integrated An- nual Report. Available at https://www.woolworthsholdings.co.za/wp-content/uploads/2018/09/ WHL-2018-Integrated-Report.pdf [Accessed 27 August 2019].

Question

Study: “The Woolworths strategy in implementing the marketing concept”

Explain the four principles of the marketing concept. Use quotes from the case study to show the strategies that Woolworths employed when implementing the marketing concept.

Transcribed Image Text:CHAPTER 13 Marketing management omplaints her main e the profit ole of the for all our stakeholders. kimisation ctive of the Our focus is on retaining our current customers, actively acquiring more customers in our target market, and increasing their penetration and spend. Qur WRewards programme provides our customers with compelling loyalty benefits nd offers and is key to building customer loyalty, driving customer acquisition, harketing led to this eveloping illustrates g concept, which all frequency, and spend. We will continue to use our customer database to further leverage data and perform deeper analytics to derive insights to drive further cross-selling and up-selling opportunities, optimise and personalise campaigns. round for 2. Towards connected retail We continue to move towards connected retail by delivering exceptional products coming years, our customers are becoming increasingly digitally connected, demanding a connected retail experience. . We are committed to improving our service for online customers and growing and and experiences to our customers in a seamless and integrated way. . While stores will remain the dominant channel for South African consumers in the improving our digital presence. • We will continue to invest in our store footprint. • We will continue to build the brand in the rest of Africa by focusing on our top Strategic objectives for 2019 onwards: •We aim to foster an emotional connection with our customers as we provide them with on-trend, stylish, quality, and affordable products and demonstrate our care for our customers, people, partners, community, and planet. • Our Woolworths brand is the anchor of our FBH offer. countries and stores, growing space in East Africa and Mauritius. 3. Be a leading fashion retailer in the Southern hemisphere * Our newly elevated and capacitated design team will drive brand-focused ways of working to provide fashionable, stylish ranges appealing to the brands' relevant customer segment. ne will ensure that we deliver the difference' by focusing on quality in everything by staff and supplier training. 443

ches
rew
13:
NT | 11E
4. Become a big food business with a difference
Strategic objectives for 2019 onwards:
to ensure that we provide our customers with quality, safe products.
physical, social, and environmental factors, We are building an integrated world of
wellbeing, which takes into account all these factors as we aim to become our
customers' food partner in healthy living.
•We will continue to provide innovative, inspiring eating solutions catering for a variety
of different customer needs.
we continue to focus on improving our customers' price and value perceptions. We
will continue to use data analytics to inform and tailor our price and promotions
decisions to profitably drive sales.
5. Drive synergies and efficiencies across the Group
Strategic objectives for 2019 onwards:
We are investing in our supply chain to enhance store replenishment and online
fultilment capabilities at lower cost with increased control and elimination of capacity
risk, facilitating decreased transport costs and better delivery lead times.
• We are implementing world-class merchandise processes and systems, improving
availability of products in both FBH and Food and evolving our IT platform to provide
flexibility and support the delivery of innovative, cost-effective, and sustainable
solutions.
We focus on scientific retailing to turn data into actionable insights.
We recognise that our partnerships with our suppliers provide us with a competitive
advantage, and we are committed to growing and protecting these relationships by
integrating even more closely with them.
Our people are critical to the successful execution of our strategy. We aim to attract,
inspire, engage, develop, reward, and retain the right and diverse talent, and enable
collaboration through a modern and connected people experience.
6. Embed the good business journey throughout our business
Strategic objectives for 2019 onwards:
• We are aligned with the Group's focus areas and sustainability commitments, and
will contribute towards these by continuing to develop sustainable practices.
• To achieve our ambition of 'zero packaging waste to landfill', in the medium term,
we are focusing on phasing out single-use shopping bags, removing unnecessary
single-use plastics from stores, ongoing customer education on the role of packaging
in the elimination of food waste, and continuing to partner with government and
industry stakeholders to develop technically and commercially viable solutions for
recycling different plastics.
• We are passionate about playing our role in building South Africa and supporting
inclusive growth. We contribute towards this by developing and communicating
clear BBBEE targets for the next three years, and by continuing to support emerging
businesses through our Supplier and Enterprise Development programme.
Source: Woolworths Holdings Limited. 2018. Woolworths Holdings Limited 2018 Integrated An-
nual Report. Available at https://www.woolworthsholdings.co.za/wp-content/uploads/2018/09/
WHL-2018-Integrated-Report.pdf [Accessed 27 August 2019].

Accepted Answer

Marketing concept believes that firms саn mаximize their рrоfits by finding the requirement of the…