Marketing assignment report help: Market analysis – Woolworth
Executive Summary:
The aim of the report is to present a market analysis for the proposal offered by Woolworth undertaking extend charitable mission for the people of Congo, Africa. In this context, report has been continued including the nature of the industry of Woolworth, other relevant information based on demographic influence, past & future trends of the same industry. Further, it also consists of the information about prospect customers, competitors, contractors and future trends justifying the business proposal of Woolworth. Next, a practical view also has been taken into account involving the logistical, legal and other related outfitted/operational issues that may affect the project’s success.
Market analysis is conducted to conclude the market’s attractiveness and on the other hand to acknowledge its embodied opportunities and threat that are related to the strengths and weaknesses of an enterprise.
Nature of the industry:
Woolworth offers the good quality of fresh food to the people which add value to its customer on a regular basis. It is one of the largest retail companies of Australia where they grow fresh fruit and vegetables in their own backyard. Woolworth picks the fresh meat from Australian’s farms only. It has been confirmed that Woolworth is one of the major retailers which dominates the grocery industry of Australia. For that, Woolworth understands the importance of the need of resource and therefore takes a step ahead to give a helping hand through donation to the childcare community and partnering with World Vision. World vision is a development and advocacy firm working for the children, families and other communities to prevail over the poverty (Woolworths.com.au, 2012).
Demographic influences:
Australia is a country where people are helped out with full of respect, love and concern. Therefore, it is considered that people of Australia will always be ready and competent to accept CSR on account of helping to create a better world. For this, sympathetic side of the community has been targeted to get them involved. Next, level of income and expenditure will also be helpful in sponsoring a child for betterment from world vision. Besides, multiculturalism in Australia has also been significant because since the nineteenth century, Asians and others have been settlers therefore Australians understand and know the needs of some poorer countries such as Congo in Africa. It will result in total sales increment in Woolworth’s business operations and CSR by making a successful fundraising and sponsoring a child from Congo through world vision.
Past & Future trends:
The past trend of Woolworth was to mainly focus on customer’s value addition by serving the fresh and good quality food. They could not focus that much on donations and other charity works. But the trend accepted by it demonstrated that it spent time in charity works and emphasize on CSR, making donations and fundraising in order to help the poor people of different countries. It can also be a condition where world vision conducted a survey and found some Australian communities involved in such charity related tasks. However, the chances to be partner with Woolworth may be a success towards higher level of accomplishments. (Woolworthsholdings.co.za, 2011).
On the other hand, future trend is more pressurizing to various organizations in terms of charity deeds, donating money, fundraising and sponsoring poor children, family or a community. This is because of rapid growth and progress other organizations are making; hence Woolworth is also maintaining CSR suitable according to the ongoing trend. Apart from this, world vision raising a lot of issues regarding transforming lives, climate change, food and nutrition, improving level of income, indigenous Australia, which in turn making Australians more committed towards sponsoring, fundraising and providing a helping hand through it.
(Jacenko & Gunasekera, 2006).
Key Stakeholders of the firm:
Stakeholders of Woolworth are customers, employees, service providers, individual or institutional shareholders, local & international suppliers, Franchises, and Government departments. Other than this, Woolworth has stakeholders as an organized business including BUSA, retailers’ association, consumer credit association, consumer goods council SA. Apart from this it consists of unions and collective employees’ framework that involves internal communication forums, SACCAWU, COSATU, FEDUSA, NACTU. Besides, media and NGOs & community organizations are also amounted to Woolworth holding limited including the food and trees for Africa, association of dieticians and consumer pressure groups (Woolworths Holding Limited, 2006). How these stakeholders react and level of donation can be revealed on the basis of statistical data of Australia’s previous donations and fundraising. It dictated that tax concession charities donated 45% for social and community welfare in Australia. Private funds provided 33% for cultural charities and 25% for welfare charities. Moreover, Australia’s fundraising percentage of GDP was about 0.49% that presented the average fundraising cost ration around 18% (Givewell, 2009).
Woolworth is giving a hand for help to Africa in sponsoring children through world vision. For that Woolworths took an initiative in its South African branch and started a project named Woolworths open arm where every child is taken care effectively and helped out in each condition. They also confirmed that parents and any other interested person are completely welcomed at the Woolworths child care premises to sit and spend their time (Open arms community child care centre, 2012).
Feasibility of business initiative from a practical point of view:
Woolworths open arm’s feasibility can be judges on the basis of its objective of earning and learning both. Woolworth’s previous result of CSR and fundraising presents that they conducted an event named Woolworths kids first on which they spent almost $6.5 million through their business. It was a charity based event for kids’ betterment that is not able to get proper facilities. This event rose nearly $200,000 for playground partnerships-Woolworths Kids first’ award winning, grant-giving proposals. It provided the company with a sustainable position in Australia and made it more committed towards such kind of charity and donation tasks.
More benefits presented by Australian bureau of statistics revealed that after fundraising and charities, the income level of Australia and government funding rose up to 11%. While fundraising Australians need to concentrate on the laws related to it. Different kind of permits and licenses are required to make raise funds through any mode (Our community.com.au, 2012). For that, they need to get registered themselves for the fundraising on a national basis or territory level. Then, a community or a firm should have an authority approval to make a donation of fundraising. Leaning toward CSR will benefit Woolworth and will result in increment in level of income, overall sales of business and will make it famous for such works and charities. Through social responsibilities, more of the customers and community can be gripped by Woolworth to its business with respect to the profitability framework of the business.
Operational, logistical and legal issues:
Issues regarding funding, tax obligations, insurance for starting a child care project can take place. Moreover, license and permit depending upon the country or a city will be required for going ahead for such kind of project. Physical space, regulations in terms of health, food that is to be served, need of sanitation, other safety regulations and codes, fire regulations are other issues with the project (South Africa country commercial guide, 2011).
Permit or license required:
To start any business or project, one needs a permit or license for the approval. License is provided based on the location where project has to be conducted. But for Woolworths open arm project, there was no need of permission or any license from the government. They were just supported by steering committee that was looking for the community contribution in this project (WordPress, 2012).
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