Evaluation of marketing strategies which is being used by many business organisations and marketing strategy development adopted by Woolworth. Its three key principles which helped them in achieving objectives of the organisation. The various strategies which are developed and implemented by a company such as pricing strategy, use of online media and the steps taken by its marketing team for effective marketing results.
- What is marketing strategy development and how it helps the business organisation to grow?
- What are the three key principles used by Woolworth in order to make effective marketing strategies?
- Explain the pricing strategy and the changes make by Woolworth to achieve its marketing goals?
- Determine the digital marketing strategies of Woolworth to attract and engage customers?
Market development strategy is defined as the process which helps the organisation to grow in the marketplace that is by introducing their innovative products in the marketplace and also by providing solution to its targeted audience. It help business organisation to develop and grow as with the help of new products company would be able to attract and engage its potential customers.
Woolworths is one of the largest supermarket chain located in Australia and has able to established its brand name in the retail sector. Woolworths food group has able to gain the trust of its customers with its effective strategies. The main focus of the company is to provide quality services to its customers and by adopting the low pricing strategy they are able to attract more potential customers. The company is focusing on implementing various effective strategies by adopting three key principles which are as follow-
Offering- They are taking steps to improve its core offering with the motive that customers should consider and put their brand first.
Growth- As the level of competition is increasing in the marketplace hence they are working on implementing new innovating techniques in order to meet the needs and desires of