Explain the four principles of the marketing concept. Use quotes from the case study to show the strategies that Woolworths employed when implementing the marketing concept. businesses through our Supplier and Enterprise Development programme.clear BBBEE targets for the next three years, and by continuing to support emerginginclusive growth. We contribute towards this by developing and communicatingnual Report. Available at https://www.woolworthsholdings.co.za/wp-content/uploads/2018/09/• We are passionate about playing our role in building South Africa and supportingSource: Woolworths Holdings Limited. 2018. Woolworths Holdings Limited 2018 Integrated An-4. Become a big food business with a differenceStrategic objectives for 2019 onwards:1.Manphysical, social, and environmental factors. We are buildingmarkan integrated world ofthesecustomers' food partner in healthy living.Consdireof different customer needs.andTakdecisions to profitably drive sales.5. Drive synergies and efficiencies across the GroupStrategic objectives for 2019 onwards:• We are investing in our supply chain to enhance store replenishmnent andrisk, facilitating decreased transport costs and better delivery lead timeeflexibility and support the delivery of innovative, cost-effective, and sustainahlITsolutions.• We focus on scientific retailing to turn data into actionable insights.• We recognise that our partnerships with our suppliers provide us with a competitiveadvantage, and we are committed to growing and protecting these relationships byintegrating even more closely with them.• Our people are critical to the successful execution of our strategy. We aim to attract.inspire, engage, develop, reward, and retain the right and diverse talent, and enablecollaboration through a modern and connected people experience.6. Embed the good business journey throughout our businessStrategic objectives for 2019 onwards:• We are aligned with the Group's focus areas and sustainability commitments, andwill contribute towards these by continuing to develop sustainable practices.• To achieve our ambition of 'zero packaging waste to landfill', in the medium term,we are focusing on phasing out single-use shopping bags, removing unnecessarysingle-use plastics from stores, ongoing customer education on the role of packagingin the elimination of food waste, and continuing to partner with government andindustry stakeholders to develop technically and commercially viable solutions 1oirecycling different plastics.• We are passionate about playing our role in building South Africa and supportingWHL-2018-Integrated-Report.pdf [Accessed 27 August 2019]. Strategic objectives for 2019 onwards:We have six strategic focuses that we drive at a Group level. Our strategies will deliverfuture-fit businesses that return long-term profit growth and create sustainable value• Our focus is on retaining our current customers, actively acquiring more customersCASE STUDY: The Woolworths strategy in implementing the marketing concept13 Marketing managementfor all our stakeholders.1. Customer relationshipsa our target market, and increasing their penetration and spend.Our WRewards programme provides our customers with compelling loyalty benefitsnd offers and is key to building customer loyalty, driving customer acquisition,frequency, and spend.. We will continue to use our customer database to further leverage data and performdeeper analytics to derive insights to drive further cross-selling and up-sellingopportunities, optimise and personalise campaigns.2. Towards connected retailStrategic objectives for 2019 onwards:. We continue to move towards connected retail by delivering exceptional productsand experiences to our customers in a seamless and integrated way.• While stores will remain the dominant channel for South African consumers in thecoming years, our customers are becoming increasingly digitally connected,demanding a connected retail experience.• We are committed to improving our service for online customers and growing andimproving our digital presence.• We will continue to invest in our store footprint.• We will continue to build the brand in the rest of Africa by focusing on our topcountries and stores, growing space in East Africa and Mauritius.3. Be a leading fashion retailer in the Southern hemisphereStrategic objectives for 2019 onwards:• We aim to foster an emotional connection with our customers as we provide themwith on-trend, stylish, quality, and affordable products and demonstrate our carefor our customers, people, partners, community, and planet.• Our Woolworths brand is the anchor of our FBH offer.• Our newly elevated and capacitated design team will drive brand-focused ways ofworking to provide fashionable, stylish ranges appealing to the brands' relevantcustomer segment.•We will ensure that we deliver 'the difference' by focusing on quality in everythingthat we do, developing desirable product with superior fit, fabric, and finish, enabledby staff and supplier training.ve will actively focus on strengthening our value perception through delivering best-In-class quality products at surprisingly affordable prices.44

Answered: Explain the four principles of the…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Question

Explain the four principles of the marketing concept. Use quotes from the case study to show the strategies that Woolworths employed when implementing the marketing concept.

businesses through our Supplier and Enterprise Development programme.
clear BBBEE targets for the next three years, and by continuing to support emerging
inclusive growth. We contribute towards this by developing and communicating
nual Report. Available at https://www.woolworthsholdings.co.za/wp-content/uploads/2018/09/
• We are passionate about playing our role in building South Africa and supporting
Source: Woolworths Holdings Limited. 2018. Woolworths Holdings Limited 2018 Integrated An-
4. Become a big food business with a difference
Strategic objectives for 2019 onwards:
1.
Man
physical, social, and environmental factors. We are building
mark
an integrated world of
these
customers' food partner in healthy living.
Cons
dire
of different customer needs.
and
Tak
decisions to profitably drive sales.
5. Drive synergies and efficiencies across the Group
Strategic objectives for 2019 onwards:
• We are investing in our supply chain to enhance store replenishmnent and
risk, facilitating decreased transport costs and better delivery lead timee
flexibility and support the delivery of innovative, cost-effective, and sustainahl
IT
solutions.
• We focus on scientific retailing to turn data into actionable insights.
• We recognise that our partnerships with our suppliers provide us with a competitive
advantage, and we are committed to growing and protecting these relationships by
integrating even more closely with them.
• Our people are critical to the successful execution of our strategy. We aim to attract.
inspire, engage, develop, reward, and retain the right and diverse talent, and enable
collaboration through a modern and connected people experience.
6. Embed the good business journey throughout our business
Strategic objectives for 2019 onwards:
• We are aligned with the Group's focus areas and sustainability commitments, and
will contribute towards these by continuing to develop sustainable practices.
• To achieve our ambition of 'zero packaging waste to landfill', in the medium term,
we are focusing on phasing out single-use shopping bags, removing unnecessary
single-use plastics from stores, ongoing customer education on the role of packaging
in the elimination of food waste, and continuing to partner with government and
industry stakeholders to develop technically and commercially viable solutions 1oi
recycling different plastics.
• We are passionate about playing our role in building South Africa and supporting
WHL-2018-Integrated-Report.pdf [Accessed 27 August 2019].

Transcribed Image Text:Strategic objectives for 2019 onwards: We have six strategic focuses that we drive at a Group level. Our strategies will deliver future-fit businesses that return long-term profit growth and create sustainable value • Our focus is on retaining our current customers, actively acquiring more customers CASE STUDY: The Woolworths strategy in implementing the marketing concept 13 Marketing management for all our stakeholders. 1. Customer relationships a our target market, and increasing their penetration and spend. Our WRewards programme provides our customers with compelling loyalty benefits nd offers and is key to building customer loyalty, driving customer acquisition, frequency, and spend. . We will continue to use our customer database to further leverage data and perform deeper analytics to derive insights to drive further cross-selling and up-selling opportunities, optimise and personalise campaigns. 2. Towards connected retail Strategic objectives for 2019 onwards: . We continue to move towards connected retail by delivering exceptional products and experiences to our customers in a seamless and integrated way. • While stores will remain the dominant channel for South African consumers in the coming years, our customers are becoming increasingly digitally connected, demanding a connected retail experience. • We are committed to improving our service for online customers and growing and improving our digital presence. • We will continue to invest in our store footprint. • We will continue to build the brand in the rest of Africa by focusing on our top countries and stores, growing space in East Africa and Mauritius. 3. Be a leading fashion retailer in the Southern hemisphere Strategic objectives for 2019 onwards: • We aim to foster an emotional connection with our customers as we provide them with on-trend, stylish, quality, and affordable products and demonstrate our care for our customers, people, partners, community, and planet. • Our Woolworths brand is the anchor of our FBH offer. • Our newly elevated and capacitated design team will drive brand-focused ways of working to provide fashionable, stylish ranges appealing to the brands' relevant customer segment. •We will ensure that we deliver 'the difference' by focusing on quality in everything that we do, developing desirable product with superior fit, fabric, and finish, enabled by staff and supplier training. ve will actively focus on strengthening our value perception through delivering best- In-class quality products at surprisingly affordable prices. 44

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PRINCIPLES OF MARKETING:- Principles of marketing teaches the experience and process of actually doing a marketing. There are four original principles of marketing referred to as 4 Ps:- 1. Product 2. Place 3. Price and 4. Promotion. These all principles play an important role in influencing the buying decision of a consumer and creating consumer satisfaction which ultimately leads to brand loyalty towards a particular product or brand.

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