Sample Business Studies Paper on Digital business 

Digital business

Introduction  

Competition in the business market is healthy but can sometimes be disadvantageous. The American multinational conglomerate Amazon has been making great strides into the  Australian grocery market and is likely to dominate that area. Competing brands, Woolworths  and Coles, are gradually losing edge, seeing how Amazon offers reduced rates of up to 50% on  goods. Amazon applies effective business strategies that make it the global giant it is today. Consumers and even business investors tend to gravitate to businesses that favor them the most, and the provision has been made possible by Amazon. Woolworths brand needs to increase and  activate their social media interactivities and offer reasonable pricing to retain the brand’s value or make it better than before. 

Social media engagements 

Woolworth’s social media engagements range across networks such as Twitter, Facebook  and Instagram. The variations in social media platforms differ because of diverse groups of  customers seeing how young people prefer modern platforms such as Instagram and Pinterest and the aged rely on easy to understand platforms such as Facebook. Social media platforms are  evolving, and the brand needs to stay at par with the moving trends. Woolworths brand needs to  implement effective solutionsto ensure that the social media interactivities of the brand are  always active throughout and of great quality. The social media marketing theory by Chaffey  proposes that social media helps businesses by engaging product and service consumers actively  on various social media platforms. To make a web-based client engagement procedure that  enables clients to speak freely and openly, organizations need to surrender some control (Chaffey and Ellis-Chadwick, 2019) . Woolworths brand should show willingness amd openness to change  by allowing their consumers to share their opinions on the brand on various platforms

The best approach to enhancing consumer social media interaction with the brand is to  hire lively employees or retrain the current ones. They should receive knowledge and  information on how different social media platforms work such as groups of people most likely  to use them and the approaches to take with such people. The aged, for example, need a patient  and understanding tone while young people need a lively tone. The employees will help ensure  that customers are actively engaged on various social media platforms. They can work in shifts  to ensure that the interactivities happen round the clock and therefore incurring no losses because  a customer was unable to get responses on any social media platform at any given time.

The employees should then given internet-enabled gadgets that would enhance social  media interactions with the brand through different platforms. The gadgets should also be  receptive to fast internet connections to facilitate speedy responses. The employees who have  been retrained or hired can a well-structured customer service room that enables them to get  comfortable and in their element without feeling like they cause some disturbance at work. They  should communicate lively via messaging on different social media platforms since customers  may lose interest when they receive customized messages. There should be a symbiotic  relationship between business and technology for an organization to prosper, as both are key  elements (Chakraborty et al., 2021). Adding items such as computers can be pricey and should  therefore happen as time goes by and the organization picks up. Hired employees should, therefore, ensure that they have smartphones that will serve in the prior days.

Effective building and updating information about the brand on many different social  media platforms would then be the next step by the new hires, and retrained employees Companies using social networks have closer relationships with their customers due to better  understanding and, therefore, more profits on their part (Al-Rabayah et al., 2016). Some of the  activities on this step may include updating outdated information and generating some  Frequently Asked Questions (FAQs). They may ask these questions when there are several  employees are before they are redirected to active call lines. There are expectations that the  employees will use these working lines instead of their phone numbers for quality control and  security (Nanda, 2021). Constantly updated information on diverse social media platforms will  assure customers that the brand is active and accessed through the sites. They can also tell any  questions or issues they have with Woolworths brand can be addressed through these social  media platforms.

The final step in the implementation process would be to observe the social media  interaction process. The process can involve watching the customers’ reception to services or  responses offered by the Woolworths staff via these platforms on whether or not they are  satisfied. Observation as an assessment tool is very powerful and can be done by using notes  taken in the field or noting specific interesting behaviors (Mertens and Wilson, 2018). Comments  made by people on social media platforms can provide an insight into how well the medial social  rebranding of Woolworths is. Negative comments also play into bettering the brand by serving as  constructive criticism. The process will be cost-effective since internet connectivity is affordable  in Australia, and will equip several workers with smart gadgets. Upon implementation, the social  media engagement of Woolworths will go up, making it a brand notable enough to outshine  Amazon in the global grocery market.

 

Reasonable pricing 

When it comes to pricing, Woolworths sells groceries and foods at almost double the  prices offered by Amazon. Naturally, a large group of people would flood to a brand that offers  low prices on products hence helping them save money. The strategic conflict theory by Karl  Max states that when resources are few, society is in a never-ending conflict; domination and  power maintain social order instead of concord. Where the parties involved make rational  decisions and the best action choices depending on other people to maximize their utility,  conflict is likely to occur (Dinç, 2020). Woolworths and Amazon offer similar products but  compete because the latter brand offers a price convenient to consumers. To establish dominance  in the global grocery market, Woolworths brand should counter the prices offered by Amazon.  By doing this, people will then flood to Woolworths brand instead of the higher prices offered by  the Amazon brand.

Woolworths needs to seek and establish a better understanding with the product suppliers  as the first step to ensure that they can offer competing prices to the consumers. Establishing  good business relationships will grant the brand better deals when buying products that can sell  at even better prices. Brands should establish frequent regular and honest talks with their  suppliers because effective business-to-business relationships depend on strong two-way  communication (Business Queensland, 2021). In case of any problems or issues, addressing them directly and immediately will show mutual trust and understanding. In cases where they give  defective goods, return immediately to avoid stirring any unnecessary issues and conversations  that might occur when returning the goods later. Payment for the goods should also be timely , and in cases where that is not possible, give a due date and make sure to adhere strictly to it.  They can also offer amazing deals on products every once in a while.

The next course of action would be checking and reviewing how the suppliers perform  and putting it on a scale against the competitors, in this case, Amazon. Being on the lookout  would keep the brand alert and ready to negotiate for better trading deals time and again. The  suppliers are offering Amazon better deals because they move fast to counter competing price  offers. Woolworths can try to find out why this is happening to be one step ahead of Amazon. A  lasting competitive advantage is a powerful function that can enable competitors to imitate the  strategy of a leading company (Hoilensen and Opresnik, 2019). Woolworths brand can compete  with Amazon by finding an advantage over the pricing strategy offered by Amazon to establish  great control over its suppliers. Amazon is believed to source some of these unbelievably priced  goods from parallel imports and the grey market (Mitchell, 2018). Woolworths brand can place  itself one step ahead of Amazon by reaching out to the parallel importers and grey marketers  before Amazon and striking even better deals. They can also help them understand that obtaining  the goods needs to be done consensually from the producers of the items to avoid any court related issues.

The final step in implementing the better-competing prices strategy is conducting an  online survey as a means of evaluation. Strategies such as case studies, surveys, and  experimentation can be used (Syed, 2020). Make consumers understand the value of certain  products and why they cannot reduce the prices by giving any necessary information.  Woolworths can also share the newly obtained prices garnered through the pricing  implementation process. They can then ask consumers whether the pricing is reasonable and  equivalent to the products themselves. The response generated from this survey can help the  brand understand whether to drop some suppliers or brands for being too pricey or try negotiating for even better deals. By considering this pricing strategy, Woolworths will become  the best grocery market globally and expand into a good conglomerate.

Conclusion  

Woolworths needs to better their social media engagements with their consumers and  offer convenient pricing of goods to maintain and establish an even better name in the Australian  grocery market. The brand can improve social media interactions by updating information on  their various social media platforms all the time. On the other hand, they can accomplish  strategic pricing of goods can by establishing better relationships with the suppliers and legal  obtaining of goods through parallel imports and the grey market. The solutions above will grant  the brand an unparalleled permanent position that can hardly be countered or shaken by any  other brand. When they have been revisited and other areas as well, the brand will have global  dominance.

 

 

Bibliography  

Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing. Pearson UK.

Chakraborty, M., Singh, M., Balas, V., and Mukhopadhyay, I., 2021. The “Essence” of Network  Security: An End-to-End Panorama. Springer Nature.

Johnson, G., 2021. Your Customers Still Want to Talk to a Human Being. [online] Harvard  Business Review. Available at: <https://hbr.org/2017/07/your-customers-still-want-to talk-to-a-human-being> [Accessed 30 September 2021].

Al-Rabayah, W., Khasawneh, R., Abu-shamaa, R. and Alsmadi, I., 2016. Strategic uses of social  media for improved customer retention. IGI Global.

Nanda, R., 2021. VoIP Telephony and You. [S.l.]: BPB PUBLICATIONS.

Mertens, D. and Wilson, A., 2018. Program evaluation theory and practice. Guilford  Publications.

Dinç, M., 2020. Humanitarian local and regional development. Edward Elgar Publishing.

Business Queensland. 2021. Developing relationships with suppliers | Business Queensland.  [online] Available at: <https://www.business.qld.gov.au/starting

business/planning/suppliers/finding-suppliers/develop-relationships> [Accessed 1  October 2021].

Hoilensen, S. and Opresnik, M., 2019. Marketing: A Relationship Perspective. 2nd ed. World  Scientific.

Mitchell, S., 2018. Amazon undercuts Woolworths and Coles on food and grocery  prices. Financial Review, [online] Available at:

<https://www.afr.com/companies/retail/amazon-undercuts-woolworths-and-coles-on food-and-grocery-prices-20181126-h18ckr> [Accessed 1 October 2021].

Syed, A., 2020. The Power of Pricing Strategy LIDL. WHD Publishing House.