Australian International Training Academy Pty Ltd t/a My Business College (MBC) ABN: XXXXXXXXXX CRICOS Provider Code: 03694G National Provider Code: 45368 Level 4,225 Clarence Street, Sydney, NSW 2000...

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Answered Same DayAug 20, 2021BSBMKG502Training.Gov.Au

Answer To: Australian International Training Academy Pty Ltd t/a My Business College (MBC) ABN: XXXXXXXXXX...

Abhishek answered on Aug 25 2021
151 Votes
Running Head: BSBMKG502                                1
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BSBMKG502 ESTABLISH AND ADJUST THE MARKETING MIX
Table of Contents
Assessment Task 2    3
1. Marketing Mix Report    3
1.1 Overview of Woolworths    3
1.2 Evaluation of the Components of the Marketing Mix    4
1.3 Analysis of the Varying Marketing Mix    5
1.4 Determination of the Final Marketing Mix    6
1.5 Recommended Marketing Mix    6
2. Email to Managing Director    6
Assessment Task 3    8
1. Revised Marketing Mix Re
port    8
Analysis of the Market Mix and its Consequences    8
Change of the Marketing Mix    8
Change of Marketing Mix Affecting Sales    9
Change of Marketing Mix Affecting Customers    9
Business Objectives    10
Expenses from Marketing Mix    10
3. Email    11
References    12
Assessment Task 2
1. Marketing Mix Report
1.1 Overview of Woolworths
Woolworths is one of the major retailing chains established in Australia. It has acquired a lot of fame in recent times and that is the reason why the analysis of the marketing mix can be a good example for other retailers as well. In this age of globalisation as the competition is very high the company needs to re-modify the marketing mix as well to break the monotonous chain. For that, the existing objectives, aims of the company should be analysed first (Van Kampen & Kirkham, 2020).
The objective of the company is to improve the standard of the affordable item of the company so that the customers can genuinely feel attracted to the different products and services associated with the company itself. The desired positioning of the Woolworths depends on the marketing criteria and demand related to the customer segments of the organisation. Woolworths is depending on a busy market area where they can attract more customers daily.
In this way, the customer base of the organisation can be enlarged and it will benefit the future business profits of the organisation (Kasanagottu & Bhattacharya, 2020). The target customer base, in this case, is the people who have the demand of having a grade food and different products under one roof. As Woolworths is a retail company it can easily provide a line of variety in the products and services according to people's demands. The target customers need to have a proper income base as well to fulfil their choice of demand from the company.
1.2 Evaluation of the Components of the Marketing Mix
The marketing mix deals with different components and variables. The 4ps, which are product, place, promotion and people, have been discussed in this context. The detailed description is given below.
Products and Services
The products and services are mainly aimed at the different customer segments and marketing demand associated with the international and local market of Australia. The products such as the variety of food lines and the different other retail products are offered by Woolworths. The Woolworths is featuring these products to meet the daily needs of the customers. This is beneficial for both the customers and the company in a general sense.
If the product offering is high then more customers will be attracted to it and it will lead to more revenues annually (Biyela, 2018). The target market or the audience have the demands for reaching out for specific product lines that can meet their daily needs. In this way, Woolworths will be able to mitigate the market needs and the target market criteria through their product and service offerings in general.
Price
The business approach developed by the company has a very affordable pricing range so that it can ensure more customer engagement with the business services offered by Woolworths. In this way, the pricing of the products will give way to more product variety within the organisation. The price of the food range is proposed to have a price range of AUD 34 to AUD 100 and above for different products.
Other retail products have other price ranges that can attract a huge audience for the benefit of the organisation. Occasionally and seasonally, the organisation will offer certain discounts that can also enable the customers to invest in the products of their likings. Thus, the price range of Woolworths is proven beneficial for the future of the company.
Promotion
There are immense possibilities associated with promotional activities. The social media and digital media can play a major role in all promotional activities as through these platforms the organisation can reach out to more customers (Maina, 2016). The customers who are using the marketplace daily and the people who are very much invested in the social and digital media platform are the main targets for this kind of promotional activities. In the present time, social...
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