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Consumer Behaviours : Assignment

   

Added on  2021-04-17

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Running head: CONSUMER BEHAVIOURSConsumer Behaviours: Bunnings WarehouseName of the StudentName of the UniversityAuthor’s note
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1CONSUMER BEHAVIOURSPart 1Background of the companyEstablished in 1887, Perth, Australia, Bunnings Warehouse is an organisation that sellsdomestic hardware items. The company operates under the parent organisation Wesfarmers since1994 (Bunnings.com.au, 2018). The company has its operations in Australia and New Zealand.The product range of the company starts with home improvement and outdoor living items tobeing a significant supplier of project builders as well as housing industry (Bunnings.com.au,2018). The company is a consumer and an employee centric organisation and has explained thatthe team members form the “heart and soul” of the organisation. Bunnings warehouse have arange of store format in which it 253 warehouses, 77 smaller format stores, 33 trade centres andthree frame and truss centres operating across Australia and New Zealand. This helps thecompany to cater to a wide range of customers who are form the B2B as well as B2C sectors.The company earned revenue of around $11.5 billion in 2017. The company also has 40,000employees as recorded on 30th June 2017 (Bunnings.com.au, 2018). Target market Demographic: The company targets people from the age group of 18-55 as they have productsthat will cater to the DIY projects as well as industrial construction items. The price of theproducts is kept low as the income group of the market is low to medium. Geographic: Location that is targeted by the organisation is Australia, New Zealand, UK andIreland. This is one of the major aspects of the target market as the company is focused onreaching out to most people who require the service. Though the company has a website where
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2CONSUMER BEHAVIOURSthere are products listed and the customers can easily buy form but as far as hardware items areconsidered most consumers would like to see the item physically and then purchase. Behavioural: The products are targeted to people who want to construct and create items fordomestic purposes The segment of the target market that is going to be catered in the assignment isgeographic as it is observed from the company overview that the strategic management plansapply with the expansion of the business so that the people in various parts of the countries inwhich the organisation has its operations can be reached. In order to further expand theoperations of the business in UK and Ireland with the help of merger and acquisition strategies,Bunnings Warehouse acquired Homebase which is a popular domestic hardware andimprovement organization of United Kingdom and Ireland. The first Bunnings Warehouse storewas established in February 2017 in St Albans. The company also has nine other projects in thepipeline. By the end of 2017 there were 15 Bunnings Warehouses and 234 Homebase storesworking throughout the United Kingdom and Ireland. The company has around 12,000employees in this area (Bunnings.com.au, 2018).Communication strategy overview Advertising: Out of home advertising is used with the help of billboards and digital billboard, thecompany also uses print medium to communicate with the people in the form of newspaperadvertising, brochures, etc. Apart from this the company has its own catalogue which has theitems listed which are found in the shops. The company also used the social media platform inorder to reach out to the people, who have been targeted.
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3CONSUMER BEHAVIOURSStrength of the approach is that most of the target market can be communicated with advertisingin the traditional channels. Weakness: the company should explore new medium like digital in order to reach out andexplore new market opportunities.
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