Answer To: You need to write a plan of that, what area you are going to research, what theories you are going...
Sarabjeet answered on Oct 05 2020
Coles Supermarket
Coles Supermarket
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Executive Summary
Coles is Australia's supermarket retail chain owned by Wesfarmers. Coles was founded to "provide Australians with stores they trust, providing quality, service and value." The report will discuss and analyse Coles Supermarket's marketing strategy by understanding its corporate goals and its growing core marketing plans and achieving customer satisfaction. In addition, the report analyses how these marketing strategies can help companies achieve their goals.
Contents
Executive Summary 2
Introduction 3
The issue of Market Competition 4
Marketing Strategies for Coles 5
Segmentation, positioning, branding 6
Segmentation: 6
Positioning: 7
Branding 8
Marketing Function 8
Alternative Solutions to the Problem 10
Advantages and Disadvantages of Solutions 11
Best Solution and Recommendations 12
Conclusion 14
References 16
Introduction
Coles is Australian retail firm owned by Supermarket Wesfarmers and was established in 1914. There has been a massive collaboration of almost 741 stores, which has more than 200,000 employees. Coles use strict techniques and strategies to deal with suppliers and suppliers face heavy charges. The retail chain has adopted different brands and advertising strategies by chanting slogans and displaying new concepts and creative ads. They also focus on promotions that lead to several major programs that appeal to large consumer groups. Examples include apple for the promotion of fuel coupons, customer’s loyalty program points, apple computer and accessories, sports etc. In Coles, employees practice their values moreover work the way they stick with them. Buyers and suppliers understand ethical policies, commitments and working practices, which are doing proper and caring. This report is related to the marketing method of a product. Including a marketing perspective involves targeting product policies, products and markets to reach a fixed market for a steady market and targeting product status.
The issue of Market Competition
Market competition has become a major threat to the successful operation of the Coles Supermarket. Through external market environmental analysis, the company has to face fierce competition from international as well as local retailers. Since the amount of retailers increases, the new entrant creates a hazard. This is because the retailing industry of Australia is presently providing stable returns (Coles, 2016). The availability of alternative products is accelerating competition in the Coles Supermarket. Online retailers have the cost advantage over companies; Coles have to face serious technical and challenging challenges (Abdullah Saif, 2015). Strategic management is a key resource for achieving competitive advantage. In order to ensure the best effectiveness and competitiveness of the competitive situation in each of these business situations, each institution makes appropriate strategic decisions. Different types of strategic decisions make efficient management efficiency. It is, therefore, necessary to take effective strategic decisions, which will help strengthen the organization's position in competitive business conditions. Companies chose various strategic approaches to maintain their competitive position.
Apart from this, retailers are facing price challenges from some new competitors, due to cultural impacts, changes in consumer demand and taste are changing, which is one major risk for retailers that limit their competitive advantage. Coles internal analysis shows the dangers of supermarket chain Aldi, focusing on low-cost private daily products. Financial evaluation by the Coles Supermarket simply indicates that profit margins of the company are under pressure because of intense marketing as well as because of high price competition in the retail market of Australia. The purpose of the company is to identify health factors, for example, checking smooth trolley, reducing customer queue time, opening entry door, reducing the number of labor-intensive inspections, and implementing these shops in all stores continuously. The goals, security, money, flexibility as well as advancement opportunities are the main drivers of the firm (Australian Food News, 2014). An intelligent decision to simply work with other cutting programs is part of an innovative or creative marketing strategy by participating in social work moreover career. This is a sensible step to decrease waste by simply helping people in order to give primary or basic food needs. By making the recruitment staff strong and by providing relevant training, making them an expert is an important advantage. Increasing prices in diversity, food security in the area, down-down activities and more concepts make the chain market a supermarket market. Developing marketing strategies is very important and encouraging. Therefore, it is more challenging to create a product market due to new product development and market launch. Marketing can be defined as a customer, customer and customer group. To differentiate between the desired and necessary approaches, from the perspective of product and service performance perspective, dependence and efficiency, ownership and value and meaning branding, brand value and competitive advantage, marketing communication, market communication, estimation, and market concept.
Marketing Strategies for Coles
The firm's goal is basically to provide the Australian people with a shopping experience company trust because of the quality, values, and services they provide. Cole's Circle for Success is the six-point program that helps Coles move toward their mission and provide Coles with clear information about priorities (Knox, 2015).
Figure: Circle for the Coles Success
Image Source: Coles Supermarkets
Coles is taking several steps to meet the demands or needs of its existing customers. This includes strategies to increase product diversification, product shelf availability improvements, product and service de-duplication, and customer purchasing experience. There is a very innovative business portfolio that reduces prices and increases cost absorption to provide value to the company's logistics as well as customer's revival technology for goods. Coles Store matches Australian food demands based on its culture and cooking style. In Australia, trends of the retailing market are to cook many foods from scratch instead of the pre-packaged food (Chimhundu et al. 2015). Therefore, Coles maintains the food practices by simply providing variety and choice in food. In order to provide unique services to the members of the Promising Store Team, firm participates in the Retailing Leadership Program, which is an innovative approach for the employees training. The main key to Coles marketing strategy is stores, people, products, care as well as financial returns.
Segmentation, positioning, branding
Segmentation:
Segmentation is related to dividing the total markets into many different categories based on many criteria, including demographic features, social economic features and product characteristics along with other products. In each segment, consumers have the same amount of product or service preferences that meet the same consumption pattern of the product. The age groups of consumers related to the demographic characteristics of consumers, the gender of consumers, average level of education of...