Shifting from typical selling approach to societal marketing
Discuss about the Marketing and Management for Gross Domestic Product.
The country of Australia is fundamentally recognized as one of the largest growing economies in the world. Apart from being an ideal good exporting nation, it is now shifting toward being a knowledge oriented country. For more than 15 years, Australia has been successfully maintaining a balance between its agricultural and business sector. With a production of high quality goods and services the country along with fulfilling the needs of its residents also meets export demand. An acknowledgment of a knowledge-based economy by the nation would lead to a substantial increase in the gross domestic product (GDP) and social welfare. According to government published reports, Australia identifies Wesfarmers Ltd. and Woolworths as the two leading companies with a vast range of flourishing market. Wesfarmers with its headquarters at Western Australia typically deals in a line of industrial and mining products. Also recently a production of chemicals and safety goods has been quite beneficial for business. On the other hand, Woolworths supermarket mainly focuses on selling of customer-oriented products like groceries, food and entertainment products. The company with a set of well-organized framework and marketing management system influences the business industry and the people of Australia. Analyzing the history and structure of the two companies, it is observed that their idea of moving from typical social marketing to a social approach is what made caused their rise.
According to Australian industries, the theory of social marketing is significantly based on the notion of a company making production and commercialization decisions taking into consideration customers demands, business need and welfare interests of the community. A regular and fruitful practice of a social management concept by Wesfarmers and Woolworths helps them to deliver satisfactorily than their existing competitors. The Australian government is guided by ethical principles and greatly promotes a sense of social good among its market rules. For an active development and implementation of social marketing strategies in the country, the government has created a volunteered association AASM which acts as a backbone and safeguards the interests of organizations that are engaged in social marketing study and research. AASM take a privilege in being a part of the two business giants of Australia. As one of the nation`s biggest firms, Wesfarmers is devoted to continuously improve stability in business, benefit the shareholders and also build a sustainable future for the coming generation. Business functions of the company include active interactions with the people to gain trust and enhance reputation. Over past 26 years, the organization has managed to contribute effectively towards the development of Australia. With an employment of more than 205,000 employees, the firm`s key priority is to make the country a better place to live in. A production of chemicals and fertilizers give birth to the problem of pollution and greenhouse gasses. In terms of ecological safety and reduction in emission of harmful gasses, the managers focus on the undertaking of environmental-friendly production methods. Concerning, Woolworths supermarket abides by their slogan of fresh food for Australia. According to financial market statements, the company exercises its control over about 40% of the total supermarket footprint of the nation. With a total of 980 retail outlets the firm successfully carries out business in every part of Australia. Operating in two different industries, both the well-established companies recognize the importance of investing towards social endeavor. In terms of profit creation, it is important for a company to develop and execute a robust marketing plan. Typically, the business plan of Wesfarmers includes a business plan of the 4P`s (product, price, promotion and place) theory. While on the contrary, Woolworths depend on an innovative philosophy of listening, learning and acting to promote company growth. Despite a difference in their product line and marketing mix strategies, the approach of social marketing is familiar with both the kinds.
The Role of Social Marketing in the Australian Market
In the modern business world, social marketing has grabbed the attention of marketers and managers of the two titans. A practice of this theory by the Australian brands creates a win-win position for the customers, society, and the company itself. The process of people-based marketing concept is dependent on the feedback of clients in the different market segments. According to the management, the use of societal marketing by Woolworths and Wesfarmers primarily targets on developing the environment, improve health norms, provide safety, increase living standards and ultimately contribute to the society. Concerning the coal operations and production of pesticides, the Wesfarmers management authority has been in a conflicting debate to whether or not accept social marketing policy in the most profitable sectors. A practice of this strategy and innovating new methods for production would lead to a significant rise in the process and consequential fall in business profits. Woolworths remain in a constant contact with their customers and regularly learn about changes in their needs and demands. With access to customer insights both companies develop a better and efficient promotional structure.
The Australian government emphasizes a need for a green economy and lays down laws and regulations for the company to abide by for its functioning. Compared to a typical marketing strategy a societal approach promotes a sense of health consciousness among the consumer sectors and plays a major role in removing social evils from the market structure. Wesfarmers management over years has been mastering the skills of consumer marketing and has successfully set up specific groups and communities in the company structure. The presence of public relationship managers and employees in the organization and retail outlets has sufficiently contributed to the exercise of this theory. As per public journals, Woolworths has effectively supplied consumer demanded goods and also brought changes in packing, branding, and labeling of products. As for Wesfarmers, company managers have developed high quality products and modified the pricing strategy. Furthermore, the company has inaugurated new retail outlets and effectively altered promotional methods. An initiative of customer talkback by the companies has grabbed the attention of the people. Despite proving to be fruitful for companies, societal business marketing turns out to be a slow process. Also, the practice of this theory adds up to be an external price for the business and results in a rise in costs. The advantages of societal marketing turn out to be more beneficial as compared to its disadvantages which are why Wesfarmers and Woolworths prefer it over a typical marketing strategy.
Innovative Marketing Mix Strategies of Wesfarmers and Woolworths
The introduction of CSM by the management lead the giants in organizing campaigns, charity programs and offer sports sponsorship. Goods and services by the two companies now are produced according to their targeted customer preferences. Moreover, the government of Australia emphasizes the need for community welfare not only in the large companies but also the small business sectors. Sustainable development of the nation largely depends on the rate of using natural resources and the technique employed by a firm for production. The ethical code of conduct of a company defines a proper use of environmental resources in a balanced manner to strengthen and develop a sustainable future of the country. Consumer oriental marketing forms an integral part of holistic functioning in a company. Along with fulfilling obligation of customers, the policy helps to develop communication, leadership, and management of the two brands. To improve consumer participation in market forces, Woolworths and Wesfarmers organize a loyalty program for its regular customers. As per the managers, the practice of an extensive consumer-based strategy ensures a commercial distribution of resources and a more significant planning plotting program. The two brands collaborate with local NGOs and communities for a prosperous and rewarding future. Based on a SWOT analysis of the two firms the theory helps the companies to grow at a rapid rate and also respond to their customers in a straightforward and understanding manner. The advancing of promotional methods of advertising and social media adds up to be never before experience for the brands. Since the introduction of the societal marketing system, there has been a noticeable downfall in greenhouse gasses, accidents in industries and several environmental issues. There has emerged a sense of wellbeing and safety among the employees of the company and the people of Australia.
Analyzing the current situation of the leading brands it is highly recommended that the management system works on their developmental policies and also engage in a more intensive study of the people`s need and environmental structure of Australia. It is necessary to put a ban on products that cause communal degradation and invent substitute production techniques and goods.In agreement with , a proper implication of societal marketing strategy will enhance a positive attitude of the brands among the people and also increase the company’s financial condition. It can be concluded that the theory determines the demands of the various market segment and aims to provide maximum satisfaction to the consumers and societal welfare. Wesfarmers and Woolworths targets to maintain an equivalent balance between its revenue generation, customer satisfaction and the well-being of the community.
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