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December 02, 2024
Your introduction must encompass:
Provide a concise overview of the strategies and techniques to be used - After defining your objectives, provide a high-level review of your strategy, detailing the utilization of digital marketing to achieve these goals. The plan must encapsulate the overarching concept without delving into specifics. It should elucidate the underlying notion of the methods, provide a comprehensive review of the procedures to be used.
A concise overview of the marketing landscape for this product or service.
Anticipated results and 'return on investment.' Details may be included in the budget or costing section.
SWOT Analysis
To design an e-marketing strategy, the electronic marketing manager will confer with several stakeholders, including the senior manager, direct supervisor, trainer, and another evaluator. The objective of Woolworths is to provide convenience, quality, and value to its consumers. The company's aim is to provide little benefits to everyone daily while implementing a defined strategy that prioritizes our clients. The company establishes various objectives regarding products and services, including customer retention, fostering a store-led environment and team, generating sustainable revenue from food, and evolving the brink business to provide added value and convenience to customers (Woolworths Group, 2017).
This report provides a situational study of the organization using a SWOT analysis and identifies several challenges. It also illustrates the e-Marketing Schedule via a Gantt chart and formulates successful marketing tactics and an action plan. It also presents the costs and budget, along with several technical concerns. This paper also addresses the monitoring approach and e-Marketing evaluation techniques.
The electronic marketing manager will choose the Australian marketing environment to promote the goods and services of Woolworths Limited. The organization has chosen this marketing environment owing to governmental stability and increased client demand. This environment benefits the corporation by virtue of the low inflation rate and increased consumer income, which may enhance customer demand for goods and services. A significant amount of individuals in Australia use technology and electronic channels to purchase items and services, which might be advantageous for Woolworths in establishing brand recognition via these e-channels (Hollensen, 2015).
This e-marketing campaign will effectively enhance income by augmenting client demand. Retaining current consumers and attracting future customers might also be advantageous for the organization. By executing this strategy, the corporation may get a return on investment of $500,000.
Significant capital is necessary to forfeit a customer.
A significant proportion of consumers may see the acquisition of several items and services as essential for achieving long-term enjoyment, especially under challenging circumstances. To afford the expensive item, many buyers have reduced expenditures in other ways. Consequently, Woolworths should concentrate on the advantages the product offers to clients and its ease, since it is essential to assess the amount of customer sacrifice. Competitors use a payment plan that incurs no interest for a certain period (Hair and Lukas, 2014). This might be an excellent method to convey the increased value to consumers.
Restricted Inventory to oversee the functioning
Woolworths has insufficient product to effectively manage operations. The corporation confronts the difficulty of establishing a favorable image in the customer's perception via e-marketing platforms. The e-marketing strategy necessitates the involvement of a graphic designer, professional marketers, online advertisers, and print media creators (Perreault et al., 2013). The problem might be generated to promote the company via discounts and convenience.
Identified Issues
High-End Fashion Retailers
Trends indicate the efficacy of a retail establishment. The client now desires a healthy lifestyle, emphasizing organic items, which may be expensive for the firm. Additionally, it is examined that individuals possess varying requirements based on their preferences. Moreover, fashionable customers want items and services with elevated price points (Babin and Zikmund, 2015). Consequently, the marketing of this premium product is intricate.
Product strategies
Woolworths is a prominent Australian retailer. It enables a distinct category of grocery items, which is a fundamental component of the marketing mix. Woolworths will provide meat, vegetables, fruits, and packaged items via e-marketing platforms. It will furthermore retail other things, like DVDs, periodicals, and stationery items. Additionally, it will take into account the extensive selection of local and worldwide brands. This approach ensures client satisfaction regarding brand selection (Armstrong et al., 2015).
The items of Woolworths are evaluated and endorsed by the company's professionals to ensure the quality of products and services. It will also include a vast array of products, including jewelry, bedding, bags, furniture, housewares, accessories, and clothes. This broad category will allow the organization to fulfill client needs more effectively than its rivals. The firm will implement the Australian e-Marketing Code of Practice to reduce the volume of unwanted commercial electronic communications received by consumers (Mullin, et al., 2014).
Pricing methods
Woolworths will concentrate on pricing that is comparable to or marginally above that of its rivals, owing to its distinctive goods and services. It will also provide premium brands inside its food chain to establish competitive pricing in the retail sector. The Woolworths shopping card will enable automated tracking of transactions and deliver appropriate fuel discounts, eliminating the need for paper receipts (Sheth and Sisodia, 2015).
Promotional tactics
Promotion is a fundamental element of the marketing mix for Woolworths. It fosters ongoing innovation in this area. This will enhance the consumer loyalty program, including discounts at gas stations. It initiated the Fresh Food People campaign in 1987, which is being used today. It will use many electronic channels to promote its goods, including Google AdWords, emails, Facebook, Instagram, Twitter, SEO, SMO, websites, and mobile apps (Menon, et al., 2015).
These channels provide convenient access and many options for consumers, potentially enhancing client loyalty. It enables a diverse array of transactions and sales promotions for its customers via various channels. It furthermore offers gift cards and discounts to engage the target market and achieve the anticipated ROI. Woolworths will adhere to the Australian eMarketing Code of Practice, using best practices for commercial electronic messaging in compliance (Lusch and Vargo, 2014).
Distribution methodologies
Woolworths operates in over 1000 locations throughout Australia. There are more than 950 supermarkets and other convenience businesses. A specific store operates inside Safeway locations in Victoria, Melbourne. It will also promote its goods and services via electronic marketing platforms. It will also concentrate on managing a mobile application. It will include several private brands such as Woolworths Fresh, Woolworths Gold, Woolworth Select, and Woolworth Home brand. It will establish several stores in a distinct area of Australia (Strauss, 2016).
Electronic Marketing Timeline
Woolworths has allocated a budget for the delivery of products and services via e-marketing channels. It depends on the original capital commitment and established goals. The total endorsement expenditure for e-marketing is projected to be about $500,000, since it is expected to provide an anticipated return on investment of $5,000,000 within ten weeks.
Website content and searchability
The organization may have challenges with search engine delays owing to an inability to comprehend, index, and generate content for their websites. Consequently, the corporation must address the problem and align the websites with Google's webmaster recommendations. It may be advantageous for the firm to achieve growth, get a high rating, and engage a greater number of people (McDonald and Wilson, 2016).
Security for client registration and login (for both customers and staff)
The firm may address the problem of using a private or restricted email account for domain name registration and maintain the registration details. Training personnel on internet safety is crucial; nevertheless, the organization must also raise awareness about computer rights and duties. Additionally, it offers insights about network access use. The organization may have challenges in logging security; thus, it should educate its personnel and consumers on the need of maintaining robust passwords and avoiding bogus emails (De Mooij, 2013). It may inform personnel and consumers about reporting suspected internet activities, hence ensuring good IT security measures.
Promotional deals, incentives for existing customers, reductions
Coupon codes are an efficient means to convert visitors into purchasers. The firm might benefit from rewarding clients who have subscribed to the newsletter and provided feedback on the contact page. Coupon discounts may be used for any prepaid and monthly plans, prepaid passes, items, registration fees, and single visits at Woolworths. Moreover, a coupon discount is not applicable to the overall invoice amount, since it is only valid for the qualified item up to the redemption limit (Scott, 2015). The corporation may also establish the duration for coupon redemption. If a consumer redeems the coupon, it will apply a discount to both the original price and the manually modified price of an item.
Multimedia
Multimedia is a significant technological challenge that Woolworths may encounter. Multimedia encompasses several components such as live streaming, mobile marketing, photography, videography, podcasting, and file sharing. Woolworths must create compelling multimedia content to enhance brand recognition in a distinctive way. The capacity to use multimedia technology allows the firm to engage with consumers, prospective customers, and staff (Czinkota and Ronkainen, 2013). Various online communities exist for the purpose of sharing and posting photographs on web pages, therefore enabling companies to use these platforms to broaden their market reach and product offerings.
Automated response systems
An autoresponder is a computer application that automatically replies to received emails. The situation for Woolworths may be straightforward or very complicated. This technique is used for email marketing to promptly provide replies to targeted clients and thereafter record them at a specified time period. Autoresponders are integrated into electronic mailing list software that verifies unsubscriptions, subscriptions, list activity, and postings (Sheth and Sisodia, 2015).
Marketing Strategies and Implementation Plan
Purchase requisitions and evaluation forms
Woolworths depended on input from both consumers and its workers. The organization values consumer participation in completing feedback forms, as it facilitates the collection of trustworthy data about goods and services. The organization may also use it to establish an efficient working environment. It may also enhance the company's productivity and provide vital amenities. It may also use it to discover new methods for enhancing and valuing time (Mullin, et al., 2014). The organization will address client comments and provide contact details for complaints about items and services.
Access tiers to digital resources
Woolworths may have challenges in accessing internet materials due to high costs. The firm has limited human resources for selecting and cataloging free web materials. A aspect that may impact the firm is that the majority of customers want complimentary information to assess the organization's reputation. Digital resources are more accessible and provide a diverse array of materials to users. Online resources are essential in assisting customers to minimize the time spent looking for and reading information about the organization (Perreault Jr, et al., 2013).
Credit card transactions
The credit card transaction may pose a risk to the organization owing to potential fraud. This card transaction offers consumer-friendly protection about payment for things received. The Credit Card Act of 2009 protects consumers against unanticipated increases in credit card charges and mandates consistent billing timelines. It also governs the proper debiting of transactions and limits the fee (Babin and Zikmund, 2015).
Website hosting and publication
Web hosting is a service associated with internet hosting. The firm provides services and supplies the server computer for website storage. Web publishing is the process of disseminating material on the internet. Web publishing structures the webpage via a web host. However, publishing from a home computer might introduce complexity compared to another machine that requires continuous internet access (Armstrong, et al., 2015).
Technical personnel (dimensions, specifications)
The absence of technical personnel might complicate corporate management and client response. Two technicians will be necessary for coordinating the whole setup and uploading the content during the local phase. The technical coordinator must understand the size and requirements, since inadequate analysis may impede corporate operations. To advance e-marketing, Woolworth will need a substantial technical workforce for the initiative. The technician must recognize the company requirements, since this might enhance performance (Mullin, et. al., 2014).
Surveillance Plan
Promotional strategies
Certain marketing efforts need several tries prior to execution. Moreover, consistent disclosure may provide superior outcomes; thus, marketing executives should evaluate the marketing methods that have been performed repeatedly over a span of 10 weeks. Thus, marketing executives may document marketing strategies and monitor several aspects of efforts, including media used, reactions elicited, sales produced, costs incurred, timing of promotions, and return on sales (Babin and Zikmund, 2015).
Financial Assessment and Allocation
Evaluation
Woolworths may use consumer feedback to assess the good and bad aspects of its e-marketing initiatives. By obtaining client input, the corporation may enact requisite modifications and thereafter execute this strategy.
Response from Competitors
Woolworths will assess rivals' replies to evaluate the efficacy of its e-marketing strategy. This enables the organization to assess the extent to which rivals have emulated and tried to counter these e-marketing initiatives. Moreover, if rivals overlook Woolworths' e-marketing initiatives and get adverse reactions, there is a potential for troubles to arise, since these matters might be rectified (Hair Jr and Lukas, 2014).
Methods for Evaluating E-Marketing
Woolworths may use many techniques to evaluate e-marketing success data. It may assess the efficacy of e-marketing initiatives, including return on investment and revenues.
Assessing the Return on Investment and Revenue
The return on investment is considered as a crucial component of executing an e-marketing campaign. The corporation can verify if a substantial sum was allocated to a marketing strategy. Additionally, it may quantify expenditures for each e-marketing activity and assess overall success. To assess performance, it is possible to decompose e-marketing efforts to quantify the specific expenditures associated with each activity, which would facilitate the evaluation of prospective ROI (Hollensen, 2015). Woolworths may evaluate the key performance indicators and e-marketing initiatives that may be advantageous to reduce in order to analyze prospective income.
References
Armstrong, G., Kotler, P., Harker, M., & Brennan, R. (2015). Marketing: an introduction. Australia: Pearson Education.
Babin, B. J., & Zikmund, W. G. (2015). Exploring marketing research. USA: Cengage Learning.
Czinkota, M. R., & Ronkainen, I. A. (2013). International marketing. USA: Cengage Learning.
De Mooij, M. (2013). Global marketing and advertising: Understanding cultural paradoxes. USA: Sage Publications.
Hair Jr, J. F., & Lukas, B. (2014). Marketing research (Vol. 2). UK: McGraw-Hill Education Australia.
Hollensen, S. (2015). Marketing management: A relationship approach. Australia: Pearson Education.
Lusch, R. F., & Vargo, S. L. (2014). The service-dominant logic of marketing: Dialog, debate, and directions. UK: Routledge.
McDonald, M., & Wilson, H. (2016). Marketing Plans: How to prepare them, how to profit from them. UK: John Wiley & Sons.
Menon, A., Bharadwaj, S. G., Adidam, P. T., & Edison, S. W. (2015). Effective Marketing Strategy-Making: Antecedents and Consequences. In Proceedings of the 1997 Academy of Marketing Science (AMS) Annual Conference (pp. 224-224). USA: Springer, Cham.
Mullin, B. J., Hardy, S., & Sutton, W. (2014). Sports Marketing 4th Edition. UK: Human Kinetics.
Perreault Jr, W., Cannon, J., & McCarthy, E. J. (2013). Basic marketing. UK: McGraw-Hill Higher Education.
Scott, D. M. (2015). The new rules of marketing and PR: How to use social media, online video, mobile applications, blogs, news releases, and viral marketing to reach buyers directly. UK: John Wiley & Sons.
Sheth, J. N., & Sisodia, R. S. (2015). Does marketing need reform?: Fresh perspectives on the future. UK: Routledge.
Strauss, J. (2016). E-marketing. UK: Routledge.
Woolworths group (2017). About us. Retrieved from: https://www.woolworthsgroup.com.au/page/about-us
Woolworths group (2017). strategy and objectives. Retrieved from: https://www.woolworthsgroup.com.au/page/about-us/our-approach/strategy-and-objectives/.
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