are demographics psychographics and lifestyle consumer perception of brands

Are demographics psychographics and lifestyle

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are demographics, psychographics and lifestyle, consumer perception of brands, consumerpurchasing behavior and racial, ethnic influences (Stukalina, 2010). Australia is a country that isgenerally accepting of people from all backgrounds, hence making the population very diverse.Woolworths group should take this in to consideration as they need to accommodate the needs andwants of these diverse people, there is no specific pattern to this, however catering to such a diversedemand is imperative. Technological factors- Technological breakthroughs either create a new industry or break the currentindustry, in the fast-paced innovation led world, it is important for organizations to constantly keepinnovating using technology. Technology could be used to exploit competitive advantage throughdifferent factors; these factors include cheaper production means, improved access to customers,improved branding and product quality. Innovation in pricing, Innovation in products and newdistribution channels are all examples of factors that affect the industry(Hays, 1965). Woolworthsgroup a market leader should make sure they are up to date with the latest technology as they canact as barriers to entry. Technological factors pose as barriers to entry for new firms entering theindustry as they might not be able to have the capital and resources to afford new technology, whichmight be required to enter the industry. Legal Factors- These are all the legal and legislative factors that an organization in the particularindustry must abide to, these are usually laws laid out by the government. It is important fororganizations to manage its business operations in line with these laws, not adhering to this mightresult in bankruptcy, forced shut downs and bad pr. Organizations should also be mindful of basicexpected regulations by the people from all over the world, examples of these can be human rightviolations, below standard labor conditions, etc. Organizations should always be up to date with theirlegal requirements towards the country and the people so they don’t end up violating any laws. Environmental factors- These are all the factors that influence business activities of an organizationthat are determined and influenced by the surrounding environment. The Australian population hasbecome socially and environmentally aware in the past few years, where customers are leaning moretowards the Go-Green, Re-use, Reduce and Recycle programs. This trend has caused organizations toincorporate sustainability in all of their business operations. A great deal of importance is giventowards corporate social responsibility in most firms. PESTLE analysis of major SBUs of Woolworths group (major factors that affect the SBUs)SBUspoliticaleconomicalsocialtechnologicallegalenvironmental
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Woolworths supermarketsyesyesyesyesyesyesBig WyesyesnoyesyesyesALH hotelsnoyesyesyesyesnoDan Murphy's and BWSyesyesyesnoyesnoWoolworths moneynoyesyesyesyesno
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