Business Research Project (BRP)

Added on - Dec 2020

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Business Research
INTRODUCTION...........................................................................................................................3PROJECT OBJECTIVE..................................................................................................................3PROJECT SCOPE...........................................................................................................................3LITERATURE REVIEW................................................................................................................3CONCLUSION................................................................................................................................1REFRENCES...................................................................................................................................2
INTRODUCTIONMarket is the term which refers group of customers as well as organisation who areinterested in the product. Along with this, they have resource to buy goods and services orcustomers as well organisation have permission in the eyes of laws and other regulations toacquire an product. In simple term it can be said that, market is is an nominal or actual; placewhere forces of demand and supply operates. Buyers and sellers interact with each other with themotive to trade of goods, services. For taking place in the market area there is requirement ofmarketing techniques in which company do segmentation of customers as well market, targeting,positioning, communicate and so on. This research is based on two organisations one is Coleswhich is founded in 1914 on 9thApril and its founder is George Coles. They are dealing in retail,supermarket and consumer services. On the other hand, another company is Woolworth is retailindustry company founded in 1924 and its headquarter is in Australia. This business research isgoing to explain, market of respective two organisation and their techniques of marketing.PROJECT OBJECTIVETopic :“To identify market and marketing strategies of Coles and Woolworths.”PROJECT SCOPEScope of project is generally refers to the type of opportunities which assist company indoing marketing of their offerings.Thus, it is much important for the manager of Coles andWoolworths to utilise the basic concept of market and its technique so they can reach to eachnad evey customers as well fulfil their requirement. Moreover, there is wide scope for Coles andWoolworths company of marketing techniques because it will result in customer attraction aswell as generating more revenue. Although, marketing department and team plays crucial role inexploring business to large number of people and making them aware about the product offeredby respective organisation. Scope of this entire business research is wide and result in achievingfuture goals in effective manner.LITERATURE REVIEWMarketing strategies is used by several organisations for getting together with theirexisting and potential customers. It is also employed with the motive of providing awareness tocustomers about the features, specification and benefits of Coles and Woolworths offerings. As
well as it is a long term forward looking approach for doing planning with fundamental goalaccomplishing sustainable competitive advantages. There are many several benefits of market forColes and Woolworths when they are doing business to business (B2B) or Business to customer(B2C) marketing. Benefits of these are as follows :-Enhance visibility of their brand offering.Develop lasting relation with the existing and potential customers.Most important is that improve awareness related to brand as well as recognition.Generate loyalty as well as trust of customers with both present and potential customers.Attract customers to take decision of purchasing more quickly.STP model -It is the model of segmentation, segmentation and positioning that can make atarget market position to gain a competitive efficiency. It can demonstrate overall position ofmarket and how company can chooses and how company can chooses to compete in market.Segmentation -There are several ways of segmenting customers such as demographic,geographic, psychographic and behaviour. Coles is segmenting their customers on thebasis of behaviour. They are focusing on customer’s product and services uses, loyaltytowards offering and what benefits they are looking into goods. Coles can identify marketsegment that can focus on a customer that can identify market potential need. This canhelp Coles need to ensure that they are able to meet need of customers, by this customersmust be flexible that can determine more suppliers to compete in it and company canmake future profits Coles is used to make a high supermarket that can define more thatwe can target only particular customers. On the other hand, Woolworths is large scaleretail organisation and they are segmenting on the basis of psychographic in whichrespective company take care of their customer’s personality, values, lifestyle, attitude,opinion as well as interest. Along with these there are some also such as families,schooling, religion and society. Woolworths could consider a quality and convenienceproposition, providing customers with high quality products at great value prices atconvenient locations that can make better quality product .From a customer perspectivesshoppers can pay more for grocers for better quality product that can make a company tobe distinguished and be a strongest demographics in single and couples without childrenthat can make more customers needs and efficiency.
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