Purpose Of The Business Plan

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A business plan is an operative means of describing your goals and the steps needed to reach them. It obliges as your company’s resume, explaining objectives to investors, partners, employees and vendors. It also spells out your purpose, vision, mission statement, and means of operation. It provides you with directions for every decision you make going forward when you grow your business.

The purpose of this business plan is to maintain a long-range view as the business makes daily decisions.

It will provide the business with a starting point and outlines a timetable that drives us activities and strategic alignment with your main business tactics as you track your process. By outlining your goals and how to reach them, the business plan will help you prepare for the future.

Profile Of The Business

Woolworths Holdings Limited (WHL) is a leading retail group with a strong existence in sub-Saharan Africa, Australia and New Zealand. WHL consists of three major operating divisions: Woolworths South Africa, David Jones and Country Road Group.

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The first Woolworths store opened its doors to the public in Cape Town, South Africa, in 1931. Its founder, Max Sonnenberg, captured the public’s imagination with dynamic store policies that set Woolworths apart from its competitors. Three years later, a second branch opened in Durban, with another two, in Port Elizabeth and Johannesburg, opening a year later. Since then, Woolworths has consistently built its reputation for superior quality, exciting innovation and excellent value.

In 1997, WHL acquired a controlling interest in Country Road Group, with the remaining shares acquired in 2014.

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The Country Road brand was founded in 1974 as a manufacturer and supplier of women’s casual cotton shirts. The brand was re-launched in 2004 and has evolved into a leading lifestyle brand renowned for stylish, high-quality apparel, accessories, and homeware.

Country Road Group has subsequently expanded into a house of brands by:

  • Launching Trenery for customers who appreciate the beauty of simple, sophisticated collections that are modern in approach and classic in style;
  • Buying Witchery, an Australian “style authority” fashion brand, in 2012;
  • Obtaining Mimco in 2012, offering accessible, luxury accessories with a quirk;
  • and Getting Politix, a leading Australian menswear brand, in 2016.

On 1 August 2014, WHL acquired David Jones for A$2.2bn. David Jones opened its first store in Sydney in 1838 with a mission to sell “the best and most exclusive goods.” There are now more than 40 David Jones stores all over Australia and New Zealand offering customers the best brands across fashion, beauty, and home. David Jones is not only Australia’s oldest department store but also the oldest department store in the world still trading under its original name.

With effect from 1 September 2017, a new regional Australian corporate and operational structure, Woolworths Australia, was introduced and operates out of its head office in Melbourne, Australia. The Woolworths South Africa division and WHL Group head office remain in Cape Town, South Africa. The Group now has more than 15 million customers, employs more than 46 000 employees across 14 countries, and trades in more than 1 576 store locations.

Location Assessment

Woolworths is retail that sells a quality product, their target market is a working class. A customer that can come in-store and buy anything that is quality by not waiting for clearance sales or specials.

Their location is specified on the shopping malls and centers. It is rare to find a woolies stores in a community shopping center. They are even naming the store with the name of the Shopping Centre. You can find the woolies store in most of the big malls in Africa in different sizes with different customer classification that depends on the location that the store is in.

eCommerce & Social Media Strategy

Social media is dominant for e-commerce, its importance has grown to massive extents over the years with its ability to reach specialized tarns of consumers.

Brands that relied on traditional forms of advertising to further their base have taken to enhancing their brand to fit into different social media roles on the web. E-commerce brands can target consumer collectives with a range of purchasing capacities through planned social media strategies.

These social media strategies should aid in developing healthy patterns of online engagement e-commerce’s social media platform accounted for 1 out of 10 customers directed towards the site.

If the engagement levels on your social media campaigns decline, it will also affect the reach on your new posts since Twitter, Facebook, Pinterest etc., push content based on follower engagement formulae.

Woolworth’s content on social media is about its product on food and on clothing. But on clothing they show the whole outfit meanwhile they are advertising may be the shoe or the bag or the dress so that customers can see the trend of that particular product.

In General

In the case of advertising and promoting Woolworths is using different platforms to reach to its customer’s strategies that are in place it is to use the online advertising strategy in these online strategies advertising the business in terms of food and clothing.

They are using these platforms to engage with their potential and existing customers:

  • Facebook
  • Twitter
  • Instagram
  • Online

I think Instagram is the most effective social media platform for Woolworths because unlike any other social media, Instagram runs to follower’s newsfeed like friends unlike Facebook and twitter you have to go to the page to see the story of Woolworths.

Cite this page

Purpose Of The Business Plan. (2019, Nov 21). Retrieved from http://studymoose.com/purpose-of-the-business-plan-essay

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