Woolworths Reflection on Concepts Applications Free Essay

Introduction

Woolworths is the organization of choice that I visited to evaluate its marketing activity for its brand product Nescafé® Classic Instant Coffee (“Nescafé Classic Instant Coffee,” n.d.). This paper will be about a reflection paper that applies the marketing concepts to Woolworth’s brand product, Nescafé® Classic Instant Coffee.

Week 1

In the first week, I visited Woolworths. My main focus was to observe and evaluate the marketing activities of Nescafe Classic Instant Coffee. At Woolworths premises, I noted a Nescafe Classic Instant Coffee’s advert next to the shelves that products were placed (“Nescafé Classic Instant Coffee,” n.d.). I was curious to determine the product’s marketing environment its marketing mix. Therefore, I did not hesitate to use my knowledge of PEST framework to evaluate the marketing environment of Nescafe Classic Instant Coffee (Lecture 1, Slide 23).  First, I assessed the political forces, I found out that the political party in power is encouraged business and has not made any bans on this product, the tax policy is favorable to this product and to add on it’s the political stability in the country gives a favorable marketing environment for this product. Under economic forces, the country of late has been experiencing an increased economic growth with reduced inflation rates, the interest rates of the product are high, the unemployment rate is low and more importantly is that the consumer confidence of this product is high. This was evident from how these products were being purchased at a high rate. Under the social forces, Australia has an evenly distributed age and all ages prefer taking specifically Nescafe coffee, it’s the market environment, Australia is characterized by a coffee drinking culture and luxurious consumer lifestyle. Under the technological forces, coffee making has transformed with the innovation of sophisticated coffee making machines. Moreover, Nescafe coffee has been extensively profiled in social media. Based on these findings, it is evident that the marketing environment of Nescafe Classic Instant coffee is appropriate. This explains why in the evening when the store is almost closing, you will find that the shelves containing this product are almost empty or totally empty at all.

Week 2

In week two, proceed to evaluate the marketing activities relating to this product. I ventured to carry out an environmental scanning so as to collect data on the forces within the marketing environment impacting the marketing processes or strategies of this particular brand product. To ensure a successful environmental scanning, I used secondary data resources (Lecture 2, Slide 5). First of all, I visited the supermarket, collected their newsletter and read through it to collect relevant data that relates to the marketing of Nescafe Classic Instant Coffee. I browsed through their website then downloaded their business report. Moreover, I explored other internet sources such as journal and articles that have conduct research on the same product. I came to realize that this product has a wide market and despite having a vast market, the marketing of this product is high and various advertising methods are used which include: television advertising, social media advertising, use of billboards among other forms of advertising as their marketing strategy. Additionally, I placed my emphasis on evaluating its social responsibility, as well as its marketing ethics, applies to this specific product (Lecture 2, Slide 19). I noted the company has incorporated its social responsibility into the marketing planning and sale of Nescafe Classic Instant Coffee by ensuring they sell goods that are healthy for human consumption. I found out that this was achieved through regular checking and inspecting the product’s expiry date so to ensure that only healthy products are sold to their customers. I also found out that the code of ethics is applied at their marketing plan since one could tell that the adverts displayed are ethically viable and legally complying to the law. The company shows to practice corporate social responsibility in its marketing strategy since they have provided all needed details for the products like the product’s ingredients.

Week 3

In this particular week, my main focus was to assess the organization’s resources as well as the opportunities to enhance and also facilitate the marketing as well as the sale of Nescafe Classic Instant Coffee. To achieve this assessment I used a SWOT analysis to determine the company’s resources together with its opportunities that ensure effective marketing for this product (Lecture 3, Slide 9). Among the strengths that I identified is the availability of enough financial resources to fund the product’s marketing, availability of marketing and advertising channels. The weaknesses identified include a lack of managerial will to market and promote this product and the usage of advertising channels that targeted a small population. The opportunities entail: encourage or fostering the marketing department to utilize efficient and productive marketing channels that targets a vast population. Among the threats identified are; high competition from other coffee products of different brands and the shifting preference from coffee to tea. Moreover, I also venture into evaluating the marketing goal set by the organization (Lecture 3, Slide 13). I found out that the organization’s general marketing goal that applies to all products that it sells is to increase sales while satisfying the customers’ needs fully. There is no specific marketing goal that applied to Nescafe Classic Instant Coffee only. Nonetheless, the marketing goal has been stated clearly using simple terms and is measurable. Woolworth’s marketing goal has a specified time frame that indicates a specific time that the marketing objective should be achieved. I further proceeded to evaluate Woolworth corporate strategy so as to relate it on how it affects Nescafe Classic Instant Coffee marketing activities (Lecture 3, Slide 14). It turned out that, the company’s corporate strategy is improving, innovating and creating efficiency in their products they offer. Woolworths has a general corporate marketing strategy that relates every product they are selling. Therefore, it appears that this product has a functional corporate strategy.

Week 4

In week, the focus was on assessing Nescafe Classic Instant Coffee’s market. I carried out marketing research so as to determine the customers’ needs as well as desires (Lecture 4, Slide 3). This would help in determining the population that consumes this product. This marketing research was also aimed at determining other alternative marketing opportunities for Nescafe Classic Instant Coffee specifically and also to determine the changing attitudes as well as the purchase patterns for the customers. I used the exploratory research method to conduct marketing research. My emphasis was to discover insights. I used a depth interview to achieve all these (Lecture 4, Slide 23). I conducted two different interviews with the Woolworths’ marketing manager and another with people living nearby Woolworth. With regards to this research, it was determined that Woolworths serves a big customer base with a bigger population of loyal customers. The respondents asserted that they trust Woolworth since the find them to be satisfying their needs. Unlike me, whereby I used an exploratory research method to conduct the marketing research, the organization exploits all the three research methods; exploratory, descriptive and experimental research methods. I learned this from the marketing manager for Woolworth when I had an opportunity to interview him in his office when I visited the supermarket. He said that they use all these methods because they want to understand the market and customers better so as to align their services along with their products to achieve the needs of their customer. He emphasized that the competition is very high in the industry they are operating it and it is to their best interest if they understand their market and customers better since this will give them the capacity for providing goods and services attracting customers thus creating customer loyalty.

Week 5

In week five, I revisited Woolworth with an aim of evaluating main aspects influencing the buying decision process among customers. In order to determine these aspects influencing the customers’ buying decisions, interacting with the customers was the best option and inquire from them what aspects drove them to opt to purchase products from Woolworth. It turned out that there are three influential forces affecting the buying decision process for the customers. They encompass situational, social and psychological influences (Lecture 5, Slide 65). For social influences, I found out that the triggers or causes are physical and social surroundings, time period, the reason for purchase and customer moods. The psychological influences included the individual lifestyle and desire, perception, the customers’ attitude toward the product, individual motives and desire, learning and also self-concept. The social influences on the customers’ buying decision, which is basically the external forces or pressure that other people put on an individual’s buying behavior.  They include; cultures and subcultures, family and society influences, roles in the family and society, reference groups, digital works, and opinion leaders. Additionally, I evaluated the organization’s market segregation (Lecture 6, Slide 7). Woolworth sells various products, food, women and men clothing, school uniforms, kids and baby clothes, baby toys, homeware, as well as beauty products. Literally, the organization’s market segmentation is structured according to customers’ needs.  The segmentation criteria have been based on segmentation variables. Woolworth has used demographic variables like age as well as gender to create segmentation in the consumer markets. This is evident from the product categories like men and women clothing, baby clothes and also kids clothes. It has used geographic variable like urban, suburban areas to segment its general consumer markets. The organization also uses psychographic variables like lifestyle together with personal motives to create segmentation in its market.

Conclusion

To sum it all, after all these five weeks, I have been able to evaluate Woolworth’s marketing activities attributed to Nescafé® Classic Instant Coffee and applied the marketing concept learned in class.