Marketing Focused Career Within The Retail Industry Essay

The world of retail has entered a period of enormous transformation, with broader retail market growth at a pace of three percent annually, many retailers are finding themselves in an uphill battle to profitably expand growth and market share (Deloitte, 2017). According to Richard Goyder AO, Managing Director, Wesfarmers “The key to long-term corporate success is evolution – looking for new ways to do business, for new businesses and new geographies to operate in (Wesfarmers, 2015).

First, there are good numbers in the higher income categories in Australia. Second, there are an increasing high income earners and middle class which present a great market opportunity. Third, the Australia’s brand conscious society is well suited to the department store concept. Also, advanced computer-based technology and stable political environment contribute to a favourable business climate. The only drawback is economic uncertainty which hinders firms future strategic direction.

It has to be said that global forces play a major role when it comes to the affect it has on the food retail industry. It needs to be said the competition from overseas markets are imminent. Retail giants such as Wal-Mart (U.S.A), Tesco (United Kingdom) or even Aldi’s closest competitor in Germany, Lidl, who have a similar operating structure as Aldi have could buy small to medium sized retail stores in Australia and expand their businesses to the country.

New South Wales, Victoria and Queensland are the regions contributing over 75% of the 18.9 billion industry revenue. Westfarmers (Target and Kmart) and Woolworths (BigW) are the two largest companies competing on low-cost strategies (Porter, 1980). Myers and David Jones, holding 15.3% and 10.5% market shares respectively (Figure 1), compete on differentiated strategies targeting the upper consumer market (Porter, 1980). Over 10% of the total working population are employed in this industry (Productivity Commission, 2011).

There is high concentration of supermarket retailers in Australia. The two major players in the industry is estimated to account for about 80% of the market share, with the remaining 20% occupied by other smaller retailers.

The following report will investigate the Australian retail/grocery supermarket Woolworths and its parent company Woolworths Limited. This report will explore the success Woolworths and its contribution to the Australian economy.

What do trends tell us? Where is the resale retail industry going? What about attracting employees and keeping them? How do we get the right people? Where are we going and how are we going to get there? These are just a small glimpse of the questions that we face on a daily basis.

Even with multiple career paths within the marketing field, the primary goal involves building a strong, favorable relationship between the business and the consumer incorporating product value, price, placement, promotion, and excellent customer service. A profitable business cannot exist without paying customers; therefore, the business world depends on marketing leaders. The “Marketing Career Guide” (2016) discloses that the marketing field attracts driven people who like to strategize, identify and monitor trends, crunch numbers, and be creative to induce desired consumer behaviors. The different specialities within the marketing field offer a vast range of salaries. For example, the median annual salary of a marketing manager is $123,450, a public relations manager is $101,510, yet a market research analyst is only $61,290 (“Marketing Career Guide,” 2016). To maintain a favorable public image of an organization and clarify its actions, political decisions, and stance on important issues to the general public, clients, shareholders, and coworkers, the PR manager utilizes experience and ingenuity to fabricate and implement plans of action through press releases, media interviews, fact sheets, websites, research, charity functions, and educational programs (“Public Relations Manager Job Description,” 2016). Ergo, a career as a public relations manager requires a college degree followed by related work experience, provides a challenging forward-thinking work atmosphere

What does this mean? 2 years later, can we still say that Woolworths is leading the shopping revolution in Australia? Woolworths website provides some facts for the year 2012:

My connection to marketing started when I was a child. My mother’s friend sold beauty products in gorgeous boxes, targeted at female customers in various age groups. Attracted by the exquisite designs and persuasive slogans, I hoped that one day I could come up with such creative marketing ideas. As I grew up, I gained a better understanding of marketing from my father, a corporate sales director. Through our conversations, I learned that while making a sale is undoubtedly important, establishing brand equity and customer loyalty is the ultimate goal. This can only be achieved through successful marketing. Such recognition sparked my interest in exploring the field of marketing, and the real-world experience I’ve gained since then has only strengthened my desire to pursue a marketing career. Admission to ICL’s Strategic Marketing program is a natural next step in my preparation.

Many diverse experiences have helped to shape my professional marketing career. These positions range from promoting Broadway shows, to marketing at the global children's entertainment brand Pokémon, and managing a girl’s brand called My Princess Academy. While my professional experiences have provided me with a strong real world foundation, I feel that in order to pursue my goal of managing a major entertainment brand, I require the knowledge and training afforded by an MBA program. I am confident that my professional experiences coupled with an MBA will help me achieve a vibrant career in marketing management.

Industry: American Retailing Industry, for example, Target Corporation is an American retailing industry company, founded in 1902 and headquartered in Minneapolis, Minnesota. It is the second-largest discount retailer in the United States, behind Walmart.

Recent time’s retail industry is achieving high importance. The retail industry is also facing very high competition and those who are able to retain their customers are the ones that are able to succeed in the market place.

Business and Advertising is a career that leads to many different opportunities in the future. Advertising is attracting public attention to your business through selling products or certain services. Media is a popular form of advertising considering the audience is much bigger and easy to spread; other forms included broadcasts and printed advertisements. The basis of advertising and business is closely related to public relations and marketing.

Marketing is a very crucial factor for any businesses. In any sector of business, marketing is must be needed. The way of promoting the business among the customers through the value of creating & exchanging in the organization is called the marketing in hospitality. Here, The National Trust is the organization of UK. It extends its business through marketing in hospitality.