Wesfarmers' Marketing Plan Essay.

Wesfarmers Overview

Question:

Evaluate marketing strategy and recommendations.
 

Wesfarmers is the organization in the Study. The objective of the assignment is to develop a marketing plan, which will address the following factors in the study. The notion of the eight marketing mix is one of the necessary tools which is analyzed in the process of development of the current marketing plan. Evolution of different kinds of marketing strategies includes the overall objective of the different organization towards the development process of an active as well as a proper marketing plan and operations (Aaker, 2013). Some of the issues, which Wesfarmers faces in the course of developing an appropriate marketing plan, are highlighted in the overview of the assignment (Bertelsen, 2012). The concluding part of the study will address different kinds of recommendations, which are achieved in the summary of the job. However, the assignment will conclude about different significance towards developing a proper marketing plan.

Wesfarmers started its journey from the year 1914 ("Home - Wesfarmers", 2016). Wesfarmers is a conglomerate company, which is operated by a group of farmers in the overall business operations. It is one of the largest Australian organizations and one of the major listed groups in the Australian market ("Home - Wesfarmers", 2016). The headquarters of this particular group situated in Perth, which is one of the top cities in Western Australia. The overall business operations of Wesfarmers diversified in different sections, which start from supermarkets, hotels, convenience stores, home improvement, office supplies, department stores, industrials division with commerce with chemicals energy and fertilizers, industry and safety products and coal. It is one of the largest Australia’s private sector organizations which develops with an employee base of around 210, 000 and has a shareholder base of approximately 500,000. Wesfarmers firmly believes towards providing a satisfactory return to its expected shareholders, as shareholders are the key elements of a different business organization (Bredeson, 2012).

There are certain organizational plans and procedures which majority of the firm companies irrespective of nature as well as goals of the business develops in the overall corporate operations. However, there are different kinds of aims as well as objectives which every business organizations tries to accomplish the overall goals and objectives of the commerce (Cateora, Gilly, & Graham, 2013). Wesfarmers develops and addresses all the efforts of the individuals in the groups to satisfy the needs of the customers through the provision of goods and services by maintaining a proper competitive and professional outline (Chaffey, Ellis-Chadwick, & Chaffey, 2012). The second objective is to provide a safe working environment for all the employees by developing an appropriate reward system in the organization. The third aims of the organizational are to contribute a significant portion to the overall growth of the country, which includes the development of a proper GDP for the country by seeking out different kinds of opportunity towards the development process of a good expansion ("Home - Wesfarmers", 2016).

 With the application of an appropriate marketing plan, the organization will be able to address what are the key issues and will and will be able to fulfill the overall marketing plans and objectives (Collins, 2012). Wesfarmers offers an extensive range of products and services to its customers. The purpose of the assignment is to focus towards the development as well as marketing of a single product and services. The goods and services outline Wesfarmers is diversified. The job will focus towards the development process of convenience stores and products, which are, fulfill the needs of the household requirements. An appliance ideal can be easily found, and it does not require customers to go through with an intense decision making process (Daniel, 2012). The organization concentrates on four kinds of consumer products, which includes convenience products, shopping products, specialty products, and unsought products.  The notion of different kind’s convenience products is highlighted in the overall proceedings of the organization. The convenience products are brought bought more frequently by the customers (Gupta, Massisimo, & Koontz, 2013). The team will focus towards the development process of a proper convince products which include laundry detergents, fast food, sugar and magazines which are low priced (Mangum & Kerr, 2012). 

Organizational Aims and Objectives

The notion of the marketing mix is one of the effective marketing tools, which majority of the business firm develops in the enterprise operations (Hood, 2013). There are eight important factors, which are highlighted towards the development process of this particular marketing tool. Advertisement and Promotions are the two primary components, which different organizations based on the objectives of the business, develops in the firm operations. The following part of the study will analyze the all the factors which Wesfarmers develops in this particular marketing tool (Jobber, 2012).

The product is the primary factor in this particular marketing tool. Products must be something, which must be customer’s desire. The best marketing concept in the world is towards selling a decent product with a lack of demand (Pride, Hughes, & Kapoor, 2012). The marketing managers of Wesfarmers needs to develop and investigate what are the different kinds of product that different individual wants from the organization (Keegan & Green, 2013). The assignment will concentrate on the application on the application of the various types household products, which include which mainly include convincing products. The managers also need to understand the relations of the products in the market as it will diversify the overall requirements of the organizations (Werhane, 2012).

The second factor is the idea of price. Price is one of the crucial factors, which affects the purchasing decisions of the customers hugely. To maintain a proper customer base developing an appropriate pricing strategy is the ultimate objective of different firms (Kotler & Armstrong, 2012). All the convince products of Wesfarmers falls under the concept of the perfectly marketing structure. Price is one of the most crucial factors in this particular marketing structure ("Home - Wesfarmers", 2016). The organization needs to evaluate all the factors of this particular market structure in a proper manner to conclude the best pricing strategies in the overall marketing operations. The customer in this particular market structure gets different kinds of purchasing options as all the products as well as services are easily available (Kurtz & Boone, 2012).

Out of all the eight factors, which are discussed in the assignment the most crucial factor in the overall marketing decision, is towards developing a proper promotional mix. The concept of promotional mix, which includes different kinds of advertisement plans and procedures, is one of the most significant factors in the overall business operations (Mangum & Kerr, 2012). Development of a proper commercial, as well as the elaboration of an appropriate promotional mix, will allow Wesfarmers to evaluate a two-way communication process between the sellers where the organization will be benefited in particular ways (Miller, 2012). Wesfarmers firmly believes towards the development process of the products based on the requirements of the market. To do so, Wesfarmers will be able to conclude different kinds of demands well as different types of customer trends and on the other hand; the customers will be able to conclude what are the products as well as services, which Wesfarmers offers to its clients (Zorc et al., 2012).

Marketing of Convenience Products

There are two modes of promotional as well as advertisement procedures, which Wesfarmers develops, in the marketing plan (Potter, 2012). The two methods of promotional and advertisement systems include traditional mode of publication and modern mode of advertisement (Pride, 2012). The idea of the traditional way of the advertisement involves the idea of using paper media, which includes a journal, articles, statistical reports and much more. On the other hand, the modern mode of communication procedures has provided one of the major breakthroughs in the overall business plan (Pride, Hughes, & Kapoor, 2012). The application of the modern method of communication methods includes the idea towards using the television advertisement, official websites, and emails and most importantly, the use of the social media tools provided one of the major breakthroughs and contributed the most significant part towards the development process of a proper E-commerce strategy (Steve Vargo. & Lusch, 2012).

Wesfarmers strongly agrees with this particular point that development of appropriate E-commerce strategies will allow the organization to evaluate the demand and wants of the customers what people think of marketing (Thorson & Duffy, 2012). The development process of an appropriate promotional activity will allow Wesfarmers to encompasses every aspect of marketing which includes packaging, advertising, sales methodology, and salespeople. One point, which needs to optimize a small change in the promotional dimension of the organization, may produce changes in the revenue as well as profit of the group (Werhane, 2012). 

The concept of the geographical location is known as a place. However, different marketers firmly believe to this particular point where the customers meet the sales persons of the organization is known as the notion of place. There are several kinds of sales methods as well as sales practices (Werhane, 2012). A direct sales approach puts the place a positive impact the overall sales process of the organization. Keeping in mind the convince factor Wesfarmers needs to select the perfect place where every customer finds it very much convenient towards developing a proper accessibility. The development process of an appropriate distribution channel falls under the notion of the site (Zorc et al., 2012). The organization needs to develop a good delivery system, which will emphasize the overall business stage by maintaining a supply chain management and by reducing the cost of transportation.

To evaluate all the operations of the company apart from the local zone different organizations including Wesfarmers develops different kinds of collaboration strategies, which will allow the team to assess the local market in the overall organizational plans and procedures (Bertelsen, 2012).  With the help of the other local firm, the organization will be able to an emphasis on the domestic market by adopting different kinds of local market strategies, which include the notion of partnership (Keegan & Green, 2013).

Selecting and higher people in the organization are one of the other points, which are highlighted to develop a proper marketing plan. There are different kinds of organizational goals and activities which different organization based on the nature and the objectives of the business are established (Aaker, 2013). The notion of the human resource management is one of the most important as well as one of the significant concepts which majority of the organizational develops. The contribution of the human resource contributes an important aspect towards the achievement of the organizational goals and activities.

The Eight Marketing Mix Factors

The concept of process is another important factor, which is included in this particular marketing tool to enhance the customer evidence. The processes, which need to be analyzed, are to improve the elements, which are, includes in the process and provides convince of the ahead of the customers (Bredeson, 2012). The organization follows a process- related business strategy that helps the firm to cater a large section of the customers (Kurtz & Boone, 2012). The operational process assists the firm to attain a level of core competency in terms of its competitors in the market (Steve Vargo. & Lusch, 2012). 

There are two kinds of assets, which are present in the different organization. One is the tangible assets and on the other hand intangible assets (Cateora, Gilly, & Graham, 2013). The classification of the goods and intangible assets are highlighted in the following part of the study. Tangible assets are those assets, which the customer buys from the organizations, which includes different kinds of products. On the other hand, intangible assets are those assets, which cannot be seen, but its presence can be felt (Chaffey, Ellis-Chadwick, & Chaffey, 2012).  For example, customer service and a proper feedback system is the idea of the intangible assets, which cannot be seen, but its presence can be felt. Both of the property is equally important towards the development process of a proper marketing plan (Chan, 2012). This part of the study will allow the organization Wesfarmers to focus on different kinds of physical evidence traces the overall commerce that a consumer encounters before buying is the physical evidence. The application of the physical evidence will allow the organization to perform and create a strong brand image (Collins, 2012).

Development of different kinds of marketing strategies will enable the agency to evaluate all the plans and the programs of the organization in a proper manner, which will ensure the overall organizational activities in a smooth and an appropriate way (Daniel, 2012). The team in the overall study developed individual strategies which include four factors that need to be emphasized are marketing concept, selling the idea, product concept, and production concept (Gupta, Massisimo, & Koontz, 2013). The overall marketing strategies will allow the organization to develop an overall organizational goal, which will depend on towards knowing the needs, wants of the target market, and will deliver the desired satisfaction better than competitors will. There are certain characteristics of marketing, which Wesfarmers develops to evaluate individual marketing features (Hood, 2013).

The purpose of marketing concept is to diversify the core marketing concepts, which Wesfarmers needs to emphasize in the overall organizational strategies. Need, demand, and wants. Target market, segmentation and positioning, offerings and brands, value and satisfaction, marketing channel and supply chain, competitions and marketing environment are some of the key strategies towards developing a proper as well as a core marketing strategy (Jobber, 2012). Towards developing an appropriate marketing plan, Wesfarmers needs to evaluate the entire relevant selling concept, which will allow Wesfarmers to develop different kinds of aggressive selling strategies. Some of the most important marketing strategies, which the organization needs to follow, are to evaluate the right product for the right person in an overall manner (Keegan & Green, 2013). The objectives of the assignment are to discover as well as well as well as to assess how the contemporary issues of environment, social media, society, and corporate social responsibility are the factors, which affect the overall marketing concept (Thorson & Duffy, 2012).  

Product Development

Development of a proper digital marketing

The company Wesfarmers needs to develop an appropriate digital marketing plan, which will allow the organization to develop a good stable and operating advertisement procedure. Towards developing an appropriate digital marketing plan, the team needs to focus on the application of different kinds of social media tools (Kotler & Armstrong, 2012). In an era of the modern communication process, different structure irrespective of nature as well as with the objectives of the business concludes the notion of the social media tools as the ideal platform towards the development of a proper advertisement and promotional procedures. Wesfarmers needs to apply an active application of a social media tools towards the elaboration of a good digital marketing (Kurtz & Boone, 2012).

Development of an appropriate corporate social responsibility needs to contribute a portion of profit in the backward regions of the countries. It will act as a source of advertisement.

The idea towards developing appropriate pricing strategies will allow the organization to focus on the purchasing decisions of the customers. It is very much familiar the pricing decision hugely affects the purchasing decisions of the customers (Kotler & Armstrong, 2012). The aim of this particular assignment is to convince products to the customers. The entirely market structure is the overall market structure where there the purchasing decisions of the customers are much diversified, If the organization needs to develop a proper customer base, Wesfarmers needs to develop an appropriate and healthy pricing strategies which will evaluate all the perfect product for the perfect clients (Pride, 2012).

The organization in the study needs to assess a proper case analysis tool, as the application of the marketing mix is not enough for the organization to promote the new product. It is the primary job of the team to scan both the internal environment as well as the external circumstances of the market (Pride, Hughes, & Kapoor, 2012). There are different kinds of situation analysis tool, which, however, the organization in the study has concentrated towards the application of the SWOT Analysis and PESTEL Analysis. The uses of this particular marketing tool will allow Wesfarmers to develop a robust internal as well as external situation analysis (Steve Vargo. & Lusch, 2012). It is very much important to acquire different knowledge about the status of the market, which will guide the organization to conclude the demand of the product, which the agency launches. 

Conclusion

The concluding part of the assignment will focus on what are the different factors, which Wesfarmers develops, in the overall marketing plan. The entire research paper is based on the evolution of the various kinds of marketing strategies, which will allow Wesfarmers to concentrate on a single product. The business operations of the Wesfarmers are much diversified in different fields. The assignment will focus on the process towards developing a reliable and a proper marketing plan, which will allow the organization to focus on, convinces department.

Different kinds of necessity products are highlighted in the study and will allow the team to evaluate what are the different types of marketing strategies, which will evaluate the overall marketing strategy. Some of the essential marketing tools are analyzed in an efficient manner and out of all the valuable marketing tool one of the most significant as well as crucial marketing tool is the notion of marketing mix where there are eight fundamental factors which include different concepts different ideas of the promotional mix. The final point of the study will guide the organization by proving different kinds of recommendations, which will help and guide the team to develop proper strategic proceedings. The readers of the assignment will be able to conclude what is effectiveness of the organization towards this marketing plan.   

Reference List

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