Final: Marketing and Credit Card Essay

Submitted By Jackchen1991L
Words: 3980
Pages: 16
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Business Plan

Woolworths Limited

Proposed by:
Junfan Chen
Ren Wang
Yang Liu

Submitted to:
Professor Andrew Bonfrer
The Australian National University

Date:
22/10/2014

Contents
1. Executive Summary 3
2. Company Descriptions 3
3. Strategic Focus and Plan 4
3.1 Mission and Objectives 4
3.2 Core Competency 4
4. Situation Analysis 5
4.1 SWOT Analysis 5
4.2 Industry Analysis 6
4.3 Competitor Analysis 7
4.4 Customer Analysis 7
5. Market-Product Focus 8
5.1 Marketing and Product Objectives 8
5.2 Target Markets 8
5.3 Points of Difference 9
5.4 Positioning 9
6. Marketing Program 10
6.1 Product Strategy: 10
6.2 Promotion Strategy: 11
6.3 Place Strategy 12
6.4 Price strategy 13
7. Financial Data and Projections 13
7.1 Past Sales Revenues 13
7.2 Five-Year Projections 13
8. Organizational Structure 14
9. Implementation 15
10. Evaluation and Control 16
Appendix 1 17
Appendix 2 18
References 20

1. Executive Summary Woolworths Limited, as the leading retailer between Australia and New Zealand launched various types of financial product and services including everyday money credit card, prepaid credit card and every reward gift card. This marketing plan focuses on launching a redesigned Everyday Money credit card which offers customers more rewards points and a new way to spend them. For the new credit card, objectives are addressed as to increase net profit and market share through enhancing the attributes of chosen credit card majorly targeting at householders. By analyzing the target market, Woolworths is positioned as low-cost-company with easy-to-access reward program. The feasibility of this plan is further proved by analyzing the internal and external environment of Woolworths in the retailing industry marketplace, a detailed SWOT analysis and marketing mix analysis in specific. Added to this, a questionnaire survey was conducted in order to better understand customers’ preference. Lastly, monitoring process will be carried out for further implementation and solving potential problems arisen from the plan.

2. Company Descriptions
Woolworths Limited is Australia’s leading retailer and it successfully operates over a various range of products and builds a well-known brand image to the general public. The brands include supermarket and petrol, hotels, financial services and Big W. in the area of supermarkets, Woolworths is one of Australia’s largest and most frequented supermarket chains.

3. Strategic Focus and Plan
3.1 Mission and Objectives
Woolworths’ current business growth plan is built on four key strategic focuses, which includes extending leadership in food and liquor, acting on portfolio to maximize shareholder value, maintaining track record of building new growth businesses and putting in place the enables for a new era of growth.
3.2 Core Competency
The world-class supply chain has provided Woolworths with innovation and competitive advantage in efficiency and cost cutting though its efficient distribution networks. Added to this, the branding image of Woolworths has been strongly established delivering the message of quality and healthy product range at responsible prices obtaining higher level of customer satisfaction. Similar to the statement of “The fresh food people”, Woolworths money has put up the value proposition as “why not get rewarded for the shopping you would have done at Woolworths anyway?” By implementing cost leadership marketing strategy, it gains the comparative advantage among peers with a low-cost-position in the marketplace. Apart from that, Woolworths has well implemented vertical integration through producing its own inputs to increase its market power and to respond to the private level trend. Last, product differentiation considers different preferences of customers in order to build successful brand awareness securing its position as Australia’s largest retailer. Particularly for the Woolworths Money, it offers two different credit cards and prepaid credit card
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