Woolworths Marketing Strategy
1. Introduction
2. Branding and Strategic Marketing
3. Segmentation and Target Marketing
4. Product Strategy
5. Media Strategy
6. Relationship Marketing
7. Recommendations
8. Referencing
1. Introduction
Woolworths is one of the best retail companies in South Africa, it is listed on the Johannesburg Stock Exchange (JSE). A company founded by Max Sonnenberg in 1931, its headquarters in Cape Town, South Africa and its current CEO is Ian Moir. It specialises on the following; clothing, footwear, accessories, groceries, beauty products, homeware and financial services. Reported 18 563 as their employees only in South Africa.
Woolworths believes in quality, style, innovation, service, integrity, energy and sustainability. It uses
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Basically product positioning is asking the firm ‘’how is its product positioned in the market and against its competitors?’’. Woolworths implements a new store format strategy – ensure store catalogue in line with customers, implement new sourcing strategy to increase Clothing and Home margin, deliver superior customer service aligned to product offer and update food strategy –mind of supermarket and improve space performance and reduce supply chain costs . Innovation is considered a Woolworths critical differentiator and is at the core of their product development philosophy, with quality and value. More than 90 technologists across the business are tasked with ensuring that Woolworths applies the most recent international technology and practices in every aspect of product development and that sustainability is fundamental to this technological …show more content…
Woolworths maintains a relationship with customers through their Woolworths cards, including Store Card, Credit Card and Difference loyalty card. This is how Woolworths gathers its information on what is needed by its target market and providing it in a unique way/ better than competitors, basically its product strategy lies on providing what is desired by consumers within the right time.
5. MEDIA STRATEGY
Use of social media
Social media can be used for campaigns, Woolworths also uses social media to perpetrate their brand and to gather information about their customer’s satisfaction. It can also be used to market a product and it acts as a direct communication to customers.
Benefits of social media
• Exploits customers
The campaign invited people to become fans of Woolworths on Facebook and followers on twitter. The aim was to create awareness of Woolworths entering social media network, as well as to build on the brand’s existing and potential
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