Marketing Strategy
Marketing strategy refers to the fundamental goal of achieving a sustainable competitive advantage and increasing sales. For Woolworths, their primary competitor is Coles as these two firms dominate approximately 80% of the industry, forming a duopoly. However, in the recent years, Aldi has been a threat to the long-lasting duopoly and has entered the market with its cost cutting strategies.
Recent marketing strategies have increased Woolworth’s profits in the first half of 2013, recording 1.8 billion in sales. This has put Woolworths at the top of the industry as Australia’s fastest growing food and liquor retailer.
One of the most successful moves that Woolworths made in the first half of 2013 was introducing the product Aussie Animal Trading Cards, which attracted a large market of children. Advertisements of petrol and grocery discounts and premium label products promoted by celebrities also had a positive impact on sales.
Recent marketing strategies have increased Woolworth’s profits in the first half of 2013, recording 1.8 billion in sales. This has put Woolworths at the top of the industry as Australia’s fastest growing food and liquor retailer.
One of the most successful moves that Woolworths made in the first half of 2013 was introducing the product Aussie Animal Trading Cards, which attracted a large market of children. Advertisements of petrol and grocery discounts and premium label products promoted by celebrities also had a positive impact on sales.