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International Marketing Wesfarmers Limited

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Question:

Discuss about the International Marketing Wesfarmers Limited.
 
 

Answer:

Introduction

Wesfarmers Limited is one of the major diversified corporations of Australia with several international business operations. The company was established in the year of 1914 and from then, Wesfarmers has become the largest corporation in Australia (Wesfarmers.com.au 2017). The diversified business operations of Wesfarmers include supermarket, liquor, hotel, convenience stores, office supplies, home improvements, departmental stores, energy, fertilizers, and many others. According to the current marketing situation of the company, Wesfarmers can be described as a competitive organization. The major marketing goal of the organization is to deliver high quality of products to its customers in order to satisfy the needs of the customers. Various business processes of Wesfarmers include production, distribution, sales, marketing and various customer services. It can be seen that there are four stages of the life cycle of the various products of Wesfarmers; these stages are introduction of the product, growth of the product, maturity of the product and decline of the product (Wesfarmers.com.au 2017).

SWOT Analysis of Wesfarmers

The SWOT analysis of Wesfarmers is shown below:

STRENGTHS

§  One of the major strengths of Wesfarmers is huge business experience in the Australian market. The company has been doing business in more than 18 decades. This huge experience can be used to make international ventures.

§  Reasonable and affordable price of the various products is another key strength of Wesfarmers. This could be an effective strategy to establish international business (Cheng, Green and Ko 2014).

§  The good reputation and brand name is another major strength of Wesfarmers. With the help of these two, the company has been able to develop a strong customer base (Murray 2013).

§  The directors and managers of Wesfarmers have effective business skills in different areas of the business. In order to expand internationally, the skills and knowledge of the directors and managers are the major tools.

WEAKNESSES

§  Lack of technological presence can be seen in different business aspects of Wesfarmers. This can be considered as a major weakness of the company.

§  It can be seen that there is a lack of mutual bond of Wesfarmers with the economy of Australia. When time comes, it can be a major weakness of the company.

OPPORTUNITIES

§  The good economic condition of Australia has increased the disposal income of the people of Australia. This creates business opportunities for Wesfarmers as the company can increase the revenue and profitability of the company by fulfilling the demand of the customers.

§  Wesfarmers has the opportunity to develop the core competencies of the organization for the presence of immense competition in this industry.

§  With the help of experienced and skillful team of management, Wesfarmers has the opportunity to expand its business worldwide.

THREATS

§  The continuous increase in the number of competitors is a major threat for Wesfarmers as it is hampering the business opportunities of the company.

§  The negative effect of the world economic recession on the business operations of Wesfarmers is a major threat for the company (Ball 2014).

§  To comply with different kinds of international rules and regulations at the time of international business is another major threat for the company.

Table 1: SWOT Analysis of Wesfarmers

(Source: as created by Author)

 

Analysis of Customer Market, Position and Segmentation

Wesfarmers takes their customers very seriously as the company ensure proper customer engagement in every level of business. It can be seen that every section of the business of Wesfarmers communicates with their customers in the best possible way. All the businesses of Wesfarmers have well developed communication mechanism in order to communicate with the customers of the organization. Wesfarmers is always quick to solve the problems of the customers (Wood 2012).

Wesfarmers have taken some of the major strategies in order to position themselves in the market. With the help of strong customer’s loyalty and brand trust, Wesfarmers has been able to well position themselves in the market. Another important strategy in this regard is to create, leverage and respond the latest product trends in the market (wesfarmers.com.au 2017). Wesfarmers has the ability to exploit every opportunity in the market. These are the major positioning strategy of Wesfarmers. Looking at the different kinds of products of Wesfarmers, it can be understood that people from all segments irrespective of their age, sex and income are the major customers of Wesfarmers.

Recommended Country

Based on the above analysis of different business aspects of Wesfarmers, it is recommended that Singapore will be the suitable country for Wesfarmers to launch its different kinds of products. The reasons are discussed below.

Recommendations

Various reasons lead to the selection of Singapore as the suitable country for the international business of Wesfarmers. Four major factors in this case are product, price, place and promotion. In case of product, the kinds of product Wesfarmers produce have a great demand in Singapore like departmental store, food products and others. In case of price strategy, the political and regulatory condition of the host country is great influencers. The political condition of Singapore is stable and it suits the international business. In addition, the regulatory framework of Singapore is suitable to the international businesses. The developing economy of Singapore has a lot of demand. Hence, Singapore is the perfect place for Wesfarmers (Zikmund et al. 2013). Almost every kind of promotional activities are available in Singapore to promote the products of Wesfarmers. Thus, based on the above discussion, it can be understood that Singapore is the most suitable place top launch the products of Wesfarmers.

Conclusion

The main aim of the report was to explore the international business opportunities of the Australian company, Wesfarmers. From the above discussion, it can be seen that experience and affordable price are the major strengths of Wesfarmers. On the other hand, the presence of many competitors and the impact of world economic recession are the major threats of Wesfarmers. After that, the name of Singapore is recommended as the host international country for Wesfarmers. The main reason is that the political and regulatory condition of the country is well suitable for the businesses of Wesfarmers.

 

References

Ball, L.M., 2014. Long-term damage from the Great Recession in OECD countries (No. w20185). National Bureau of Economic Research.

Cheng, M.M., Green, W.J. and Ko, J.C.W., 2014. The impact of strategic relevance and assurance of sustainability indicators on investors' decisions. Auditing: A Journal of Practice & Theory, 34(1), pp.131-162.

Murray, B., 2013. Culture Is the Brand: Making Your Company's Culture the Essence of Your Brand. Effective Executive, 16(4), p.11.

Wesfarmers.com.au. (2017). 2016 Strategy Briefing Day. [online] Available at: https://www.wesfarmers.com.au/docs/default-source/asx-announcements/2016-strategy-briefing-day-presentation.pdf?sfvrsn=0 [Accessed 17 Apr. 2017].

Wesfarmers.com.au. (2017). The Wesfarmers Way. [online] Available at: https://www.wesfarmers.com.au/who-we-are/the-wesfarmers-way [Accessed 17 Apr. 2017].

Wesfarmers.com.au. (2017). Who we are. [online] Available at: https://www.wesfarmers.com.au/who-we-are/who-we-are [Accessed 17 Apr. 2017].

Wood, T., 2012. Putting the customer back in front.

Zikmund, W.G., Babin, B.J., Carr, J.C. and Griffin, M., 2013. Business research methods. Cengage Learning

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