Effective Promotional Strategies For Woolworths Company
The promotional activities that are effective and appropriate for Woolworths Company are advertising and sales promotion activities. The advertising can be done through the usage of social media and the sales promotion can be done by providing discounts on the new range of products (McDonagh and Prothero 2014).
The advertising is the best promotional activity that can be scheduled and it is effective for the respective organization. The advertising technique can be applied, as this will help in shaping the perception of the individuals regarding the products and services sold by Woolworths. Advertisements can have huge positive impact on the business as when the company is launching a new product, it is essential in nature to understand the popularity of the product and this will help the business to gain competitive advantage as well.
The overall promotional objectives of Woolworths are as follows:
- To stimulate the demand for the products and services as this will help in converting the potential buyers into the actual buyers
- To inform the different customers about the different features and qualities of the existing product and the introduction of the new products in the market as well
- To persuade the customers in the market by providing them with the different qualities of the product in comparison with the competitors in the market
- To build brand awareness as this will help the company to increase the sales and profit of the company in an effectual manner
The proper resource allocation is the appropriate method that can be used to ensure that the timelines and budgets are adhered to as this will help in solving the different issues of over and under allocation of the resources in an effective manner. The allocation of the resources has to be done in an effective manner as this can help in maintaining the budget in an effectual manner.
The benefits of employing the usage of detailed action plan are as follows:
- It helps in focusing different activities as this will help in accomplishing different goals in an effective manner
- It helps in strengthening the morale of the team as this helps the employees to focus on the different activities allocated to them and achieve the results that is desired
- Strengthening the self esteem as well as self confidence as this will help in becoming successful in promoting different products (McDonagh and Prothero 2014)
The resources that could be drawn upon when organizing a promotional event for the company are as follows:
- The ultimate design handbook as this will help in making the attendees understand the specialty of the product
- A proper planning guide is essential to be maintained as this will help in explaining the customers about the product in much more effective manner
- Event metrics data driven organizers is essential as this will help in analyzing the data in an effectual manner along with sponsorship guide for the event
- The development of content strategy is essential to be generated as this will help in maximizing their chances to create value for the brand (Khang et al. 2016)
It can be understood that all the staffs are aware of the roles that has been assigned to them when the staffs are performing their duties with motivation. When the employees deliver their duties and responsibilities in an effective manner within specified deadline, it can be analyzed that they are aware of their roles and they are performing it effectively as well (Kumar, Sharma and Gupta 2017).
It is required to be checked that the staffs are performing tasks as per the requirements without much difficulties. This will help in increasing the productivity and sales of the company in an effective manner as well.
In order to enhance a positive image of the organization, the relationships with other targeted groups can be established with the help of marketing their products in unique manner. The company needs to market their products in such a manner that will help in gaining the target audiences in an effective manner (Green, Haddad and Aronson 2018).
1. What kind promotional activities that are effective and appropriate for your Company?
The networking can benefit while implementing promotional activities as meeting different kind of individuals in the social events will help in building proper reputation. With the help of well established network, it will help the company to expand the business to build relationships with different individuals in an effectual manner (McDonagh and Prothero 2014).
The methods that can be used to gain the feedback of audiences after the event are as follows:
- Provide feedback on love chat session
- Call the loyal customer regularly (Kotler 2015)
- Use surveys through emails for the new customers
- Provide dedicated kind of feedback forms on the site
The effectiveness of the planning process can be assessed in such a way that it helps in identifying improvements in the future are as follows:
- Proper assessment of both the internal and external environment is essential as this will help the company in identifying their areas of improvements required
- Review and defining of the values, social vision along with mission as this will help in making improvements that is required
- Proper designing of the action plan is essential and necessary as this will help in marking the goals and it will identify the different objectives on a yearly basis
The supply personnel and agencies are involved in the promotional activities of the organization as the supply agencies are the ones who provide different kind of services and products in an effective manner. The supply agencies takes care of the different analysis of the products and services in such a manner that this will help the company to gain competitive advantage in the market against the other competitors in the market.
The costs and timelines can be analyzed with the help of cost benefit analysis and preparing the budget with the help of MS project wherein the analysis can be done relating to the tasks that has been completed within the specified deadline. The cost benefit analysis can help the company in understanding the strengths and weaknesses of the different alternatives in an effective manner. It helps in determining the different other options that will be suitable options that can provide the company best alternatives for the future.
The company needs to understand and analyze the different allocation of resources in an effective manner as this will provide the company different strengths that will help in understanding the best alternatives that will help the company to gain competitive advantage and other benefits in an effective manner.
The recommendations and conclusions can be prepared with the help of analysis of the different loopholes that has been faced by the company while promoting the product in the market. The company needs to understand the different issues that were faced by company was the budget as it was not enough and this caused huge issues for the company in the present scenario as there was no flexibility in the organization.
The company needs to unlock the lines of budget wherein the inbound marketing has to be analyzed in an effective manner as this will help the company in receiving higher budgets in the future and this will help to double their marketing in an effective manner in the future as well (Baker and Saren 2016).
Baker, M.J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
Green, A.R., Haddad, P.M. and Aronson, J.K., 2018. Marketing medicines: charting the rise of modern therapeutics through a systematic review of adverts in UK medical journals (1950?1980). British journal of clinical pharmacology.
Khang, H., Han, S., Shin, S., Jung, A.R. and Kim, M.J., 2016. A retrospective on the state of international advertising research in advertising, communication, and marketing journals: 1963–2014. International Journal of Advertising, 35(3), pp.540-568.
Kotler, P., 2015. Framework for marketing management. Pearson Education India.
Kumar, V., Sharma, A. and Gupta, S., 2017. Accessing the influence of strategic marketing research on generating impact: moderating roles of models, journals, and estimation approaches. Journal of the Academy of Marketing Science, 45(2), pp.164-185.
McDonagh, P. and Prothero, A., 2014. Sustainability marketing research: Past, present and future. Journal of Marketing Management, 30(11-12), pp.1186-1219.