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RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA

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Running Head: Report [Year] RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA Contents Introduction 3 Problem Statement 4 Research Objectives/Questions 5 Justification of the project and expected research outcome 5 Understanding the problems faced by the Coyle Supermarket, Australia 6 Solutions to the problems faced by the Coyle Supermarket, Australia 6 Implementation of the solution in the Coyle Supermarket, Australia 8 Expected Research Output/

RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA

   Added on 2020-03-28

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RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA_1
Running Head: ReportContentsIntroduction.................................................................................................................................................3Problem Statement......................................................................................................................................4Research Objectives/Questions...................................................................................................................5Justification of the project and expected research outcome.........................................................................5Understanding the problems faced by the Coyle Supermarket, Australia................................................6Solutions to the problems faced by the Coyle Supermarket, Australia....................................................6Implementation of the solution in the Coyle Supermarket, Australia.....................................................8Expected Research Output/ Outcome..........................................................................................................9Conceptual Framework and Research Hypothesis...............................................................................9Literature review.......................................................................................................................................13Methodologies...........................................................................................................................................15Data Series and Survey..........................................................................................................................15Quantitative Approach...........................................................................................................................15Qualitative Approach.............................................................................................................................15Organization of the study..........................................................................................................................16Gantt Chart................................................................................................................................................17Conclusion.................................................................................................................................................17References.................................................................................................................................................181
RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA_2
Running Head: ReportIntroductionThis assignment is to understand the Polygamous behavior of consumers and how retailer’s of Coles, Australia cope up with those consumers. The Polygamous behavior of the consumer can be seen when the customer buys or have relationships with other competitors in the market. This has been analyzed that the customers build enduring regard with different companies at the same time. Thus, this research report is written to understand why the customers have a connection with the other companies or competitors and the factors which influence the polygamous behavior of consumers. This research report not only includes the ability of retailers of Coles, Australia of coping up with the customers with the polygamous behavior, but also comprises the research design and methodologies which help in analyzing the current status of the retailers of Coles, Australia and consumers link through various sources. This report also comprises the solution on how to cope up with the consumers with polygamous behavior and how a Coles supermarket can overcome this problem [ CITATION Col17 \l 1033 ]. 2
RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA_3
Running Head: ReportProblem StatementThe reason for the Polygamous behavior of the customers is their choice of products based on the non-random brands. It is defined on the basis of customer dependency or choice of selecting the products of the same category from different supermarkets. The problem statement of the Coles supermarket can be evaluated on the basis of its competitors and analyzing the factors which influence the customers to behave polygamous. The main problem within the Coles Supermarket is to cut down the prices to remain competitive with the other supermarkets. But as per the latest report, it has been observed that after cutting down the prices of the products, it is not necessary that the consumers of the Coles supermarket will remain monogamous with them and will maintain the long term relationship to increase the revenue or turnover in the near future [ CITATION RMo13 \l 1033 ]. In the monetary terms, the earnings of Coles supermarket has been decreased to approx 6.8 percent after the earnings tax excluding the profit margin, evaluating the previous record, which was approximately decreased 2.6 percent relative to the revenue. 3
RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA_4
Running Head: ReportResearch Objectives/QuestionsThe aim of this project is to analyze the factors which motivate the Polygamous behavior of employees and what steps the retailers can take to cope up with those customers, to maintain the profit margins and competitive position in terms of other supermarkets. The few questions whichthis report aims to answer are as follows : RQ1: How the polygamous behavior of consumers affects the supermarkets?RQ2: What were the impact of the polygamous behavior of consumers?RQ3: How did the retailers cope up with the consumers with the polygamous behavior?RQ4: What are the factors that motivate the polygamous behavior of consumers?The above questions will assist answer the most vital aim of this report by providing the best strategies that can be adopted to make the consumers monogamous in nature and help the supermarket retailers to cope up with the consumers showing polygamous behavior. Justification of the project and expected research outcomeThis part of the project is to explain the reason on why there is a need to understand the problemsfaced by the Coyle Supermarket, Australia due to the Polygamous behavior of the consumers. This part of the research report also provides solutions to the above problems and how these 4
RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA_5
Running Head: Reportsolutions can be implemented to the Coyle Supermarket, Australia to maintain their sales and growth without reducing the actual cost of the product. Understanding the problems faced by the Coyle Supermarket, AustraliaThe main issue faced by the Coyle Supermarket, Australia is the increase in the polygamous behavior of consumers thereby increasing the efforts.It has been evaluated that after reducing the prices of the products, the Coyle Supermarket, Australia, the organization is not sure that the consumers will react as normal monogamous consumers after that. Also, if they will help them reduce the cost of marketing and help them build a strong base to compete the supermarket worldwide [ CITATION HaN14 \l 1033 ]. Solutions to the problems faced by the Coyle Supermarket, AustraliaReduction in the cost of marketing: This can be done by retaining the existing consumer as theexisting consumer will have some past experience of using the products and with the company. Rather than investing on the new marketing campaigns and running different strategies to acquire the new consumers, it is best to improve the quality of the brands and satisfaction of the existing consumers. Also, it will cut the extra costs as building new business alliance will requiremore promotion and efforts [ CITATION TBr16 \l 1033 ].Reducing the cost of transactions: This can be done once there is a list of loyal consumers. That is, more is the number of loyalty consumers lesser will be the chances of them to explore other brands. Also, they will not negotiate on price, quality, time, etc. thereby reducing the cost of the transaction. 5
RETAILER ABILITY TO COPE WITH POLYGAMOUS BEHAVIOUR AMONGST CUSTOMERS: A CASE STUDY ON COLES, AUSTRALIA_6

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