The marketing strategy of Woolworths can be elucidated with the help of Marketing Mix, i.e. the 7 P’s of marketing that it uses to market its products.
This article will help you walk through the policies and strategies of the company related to the pricing of its products, advertising and promotion, distribution, etc.
Let’s get started:
The 7 P’s of Marketing Mix includes:
- Physical Evidence
Woolworths is one of the leading retailers in Australia. The products that they deal with include fruits, vegetables, eggs, meat, packaged products, magazines, DVDs and items of stationery. Customers are given a vast range of variety and choice. Customer
a quality check and is provided for sale only if the experts approve the quality. It is a one-stop store where all the needs of the customers are catered.
The prices of Woolworths’ products are generally analogous to or higher than the rates prevailing in the market. Price of its products is kept competitive intentionally because it deals in various superlative brands in the food retail sector. The customers are offered both minimum and premium prices. At the stores of Tasmania, a reward program is arranged named as Frequent Shopper Club where the vouchers worth $20 are given to the customers who have congregated 2000 points. The same store abolished the use of paper receipts by providing a shopping card of Woolworths which helps in tracking the purchases made by the customers and offering the pertinent discounts.
The total number of stores operated by Woolworths in Australia amounts to 1000 in which the number of supermarkets is 950, and the rest are convenience stores. Woolworths also have an online platform. Recently, they have started a mobile app for the convenience of customers. They have the following brands:
- Woolworths Select
- Woolworths Home brand
- Woolworths Gold
- Woolworths Fresh
Mexico, Germany, Austria and the UK are some of the companies where Woolworths operate these brands. Woolworths has a store called Marks N Spencer in South Africa. This way Woolworths has a wide range of networks.
For every company working in the retail sector, promotion and marketing play an important role. In the same way, promotion is playing an intense role for Woolworths too. Customers get various loyalty schemes. A fresh Food People Campaign was organized in 1987 and ended in 2012. In this campaign, the promotion was done with the help of social media, magazines and news sheets. Because they are easily accessible, they can get a large number of reliable consumers. Giving away gift cards, advertisement through social media, offering high discounts, etc. are some of the ways of promotion used by Woolworths to attract maximum customers. It has helped the company to reach the masses, maintain a position in the retail market and earn high revenues.
The number of employees working with Woolworths is around 2000 and it is planning to hire more. The credit of Woolworths success goes to its brilliant sales assistants. The primary objective of every company who is working in the service industry is to enhance the satisfaction of the customer and Woolworths is a perfect example of this. The company pays much attention in the process of hiring the employees as they need competent employees. The company train their employees to have a good bond with their customers and to communicate with them efficiently. Destination zero policy is followed by them in which the company makes sure that the harm caused to the employees and the environment is zero. Mr. Charles Woolworths (Founder) and Mr. F.W Woolworths (CEO) are the main people of the company.
As the primary motive of Woolworths is customer satisfaction, that’s why the company uses consumer-friendly methods. You must be wondering in what aspect processes are used in supermarkets. It includes giving the customers a quick billing service and friendly and supportive staff. Customer’s feedbacks are taken continuously so that they can improve their processes in the future.
All the stores of Woolworths are so clean and eye-catching that the consumers easily navigate into the stores. Products are placed in such a manner that there is no chaos and it is easy for the customers to look for what they need. Woolworths mobile app and website is also very attractive and easy to operate. To make it visible in the market, it makes use of hoardings and posters. The financial reports of the company are also made open for the public.