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Identification of the Target Markets - Term Paper Example

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This paper presents an integrated marketing communication (IMC) program. And describes Woolworths Limited Group company with relation to its marketing position and proposed products and services, an identification of target markets and objectives, which the IMC program should be focused on…
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Identification of the Target Markets
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Download file to see previous pages Australia is characterized as a country with a relatively small population and low rate of population growth (McDonald & Kippen, 1999). In spite of Australia has a vast territory (almost as large as the USA), its market is not segmented geographically - the most of population is concentrated in coastal cities or towns, where Sydney and Melbourne are the major ones (CCIWA, 2006). CCIWA (2006, p.9) accentuates common traits of Australians as consumers who have high-quality standards, are “very conscious of “value of money” and prefer to purchase the Australian-made products, because they offer better value for money as compared with imported products.
In a fast-growing economy of Australia, the agricultural sector is one of the key industries that give Australia strong competitive advantages, as well as a reputation of a supplier of clean and quality natural agricultural production (Austrade, 2009). The numerous national and local operators develop their businesses effectively, “investing in systems and facilities to ensure the efficient handling, storage, and distribution of grocery and fresh food products daily to their stores, across Australia, to the benefit of all consumers” (Woolworths, 2002, p.3). Today the Australian supermarket and grocery sector became one of the most strong, concentrated and competitive markets. In January 2007 the overall retail turnover was about $6.8 billion (NARGA, 2007). The dominance of two major grocery retailers’ chains, Woolworths and Coles, is established clearly in the market (see Fig.2). It causes strong competition between major retail chains and among the whole industry, what is an important feature of the consumer product market of Australia (NARGA, 2007).
In these circumstances, a clear retail strategy and market positioning of retailers play a significant role in business success. Nowadays a concept of integrated marketing communication (IMC) is widely used as a solution for the effective implementation of a marketing strategy. ...Download file to see next pagesRead More
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