Marketing Principles of Wesfarmers Organizations Public Domain

Question: Describe about the Marketing Principles of Wesfarmers for Organizations Public Domain. Answer: 1. The concept of corporate objectives and evaluation of Wesfarmers as an organization with information available in the public domain As we know that the corporate objectives of a company are the realistic goals and well defined objectives that influence the internal decision of the company. Most of the corporate objectives and goals are used by Wesfarmers to specify the time frame in which they have to achieve their targets for the company. Corporate objectives also specify the assessment of the success of the company. The primary and main motive of Wesfarmers is to provide a satisfactory return to their shareholders. The board of this company is very effective and it itself has a strong advocates for good corporate governance. They try to fulfill the requirement f obligations and responsibilities by giving best dividend, interest and returns to its stakeholders and to company. As we know that Wesfarmers is a company that complied with the third edition of the ASX Corporate Governance Councils, Corporate Governance recommendations and principles that was released on 27 march 2014. The managers of Wesfarmers try to achieve all sort of corporate values and objectives that will benefit their employees as well as stakeholders. The culture of the company is very good that end of the day each and every person related to it will say that this company has pretty good corporate governance (wesfarmers.com. 2016). 2. Marketing orientation concepts of Wesfarmers The marketing concept This is the most prominent and relevant business policy that has the capability to challenge all the other orientation of marketing of Wesfarmers. It assumes that if Wesfarmers want to achieve success than it has to gain competitive advantage form the competitors present in the market. There are certain points that must be effective like creation, delivery and the communication with the customer. The four pillars of this orientation are target market, needs of customers, integrated marketing and profitability (Kotler, 2000). The selling concept It is a very common business orientation in which the Wesfarmers faced that if the company and customers will leave alone than they will not buy any product. There is a need of aggressive selling and highly promotion for the goods and services required. It is observed that if Wesfarmers engage in effective selling techniques and updated techniques of promotion than the sales of the products will rise. The aim is decide through the concept sell what they make rather than make what the market wants. The Production concept It is the oldest concept of marketing orientation. It says that the customers want to purchase only those products that are easily available ad cheap as compared to other products. The managers of Wesfarmers are concentrating on this concept by achieving high production and manufacturing efficiency, cost are lower and the vast distribution will takes place. They think that the customers are very much attracted towards cheap easily available products. This type of orientation is found in developing countries where the primary focus is on the availability and price of the product and not on the quality (wesfarmers.com. 2016). 3. Wesfarmers core marketing strategy As we know that Christmas is arriving so the managing director of Wesfarmers has cut down the price of chicken breast and roasted chicken. They change the management of staff in which every check out has a staff member. They use to broaden the skills and talent of the organization to attract the stakeholders and other members. Wesfarmers always try to provide greater values to its customers and their needs and wants. In this way, they maintain the relations with their customers. This is a company that frequently engages to bring innovation and creativity in their management. In this way, Wesfarmers acts as a model for all the responsible corporate citizenship (sustainability.wesfarmers.com, 2016). The strengths and weaknesses of the current marketing strategy Strength The sale of the company will increase of Christmas. They can achieve their targets due to decrease in the price. The customers of the company will remain happy and satisfied. Weakness Due to over burden, May the company cannot fulfils the quality demanded by its permanent customers. Due to more focus of objectives, may company cannot manage the customer relationship. The strategies that will help Wesfarmers to reach its corporate objectives It is relevant to identify the objectives of the organization. It will help to achieve any other objectives. There is a requirement of strategic planning of all the fields where work is needed to be done (ability.welsfarmer.com, 2016). References ability.welsfarmer.com. 2016. Governance and corporate culture, [Online], and Accessed on: 25 November 2016, Available at: https://sustainability.wesfarmers.com.au/case-studies/governance/governance-and-corporate-culture/ Kotler, Philip. 2000. Marketing Management. Upper Saddle River, New Jersey: Prentice Hall. sustainability.wesfarmers.com. 2016. Wesfarmers, [Online], Accessed on: 25 November 2016, Available at: https://sustainability.wesfarmers.com.au/our-principles/people/diversity/ wesfarmers.com. 2016. Delivering our objective, [Online], Accessed on: 25 November 2016, Available at: https://www.wesfarmers.com.au/investor-centre/company-performance-news/delivering-our-objective wesfarmers.com. 2016. Corporate governance, [Online], and Accessed on: 25 November 2016, Available at: https://www.wesfarmers.com.au/who-we-are/corporate-governance