Marketing Strategy for Coles - Report
Added on 2020-05-28
21 Pages4022 Words39 Views
Languages and Culture
|
|
|
Running Head: Marketing Strategy 1Marketing Strategy
Marketing Strategy 2
Marketing Strategy 3Table of ContentsIntroduction......................................................................................................................................3Industry Analysis and Market Trends..............................................................................................4PESTLE...........................................................................................................................................5Competitors Analysis.......................................................................................................................6Segmentation analysis.....................................................................................................................7Major market segments................................................................................................................7Primary and secondary markets...................................................................................................8Level of Involvement and Decision making....................................................................................8Perceptual Map................................................................................................................................8Conclusion.......................................................................................................................................8References........................................................................................................................................9
Marketing Strategy 4Introduction The present report is explores the market for Coles, second largest retail organization. It examines the primary market of the organization and the nature of competition in the industry. It examines the role of consumer behavior in the purchase decision making of the companies. CompanyColes Supermarket is an Australian retail market and consumer service chain. The company has headquarters in Melbourne and the parent company of the organization is Wesfarmers. Coles was founded in 1914 in Collingwood, Melbourne. It has more than 100,000 employeesand considered as the second largest supermarket chain in Australia. The biggest rival of the company is Woolworths, along with which it holds 80% of the net supermarket share of the country (Coles, 2017). Product/ServiceColes is operational in a number of sectors in the retail industry. It sells groceries and household consumables in different supermarkets in Australia and New Zealand. The company also sells liquor through the retail stores. It also sells petrol and other petroleum products through its retail stores. Coles also provide financial services to the customers and there are several hotels, which operate under the same name (IBIS, 2017). Coles is a retail organization, which sells retail products at its stores. It also has an online store through which the customers can buy product from online mediums. It also provides
Marketing Strategy 5online home delivery services. Coles also has seven private label brands which the company is planning to consolidate into the major brand (Khan, 2011). In addition to it, the company also has a private clothing brand. Coles provide a mid-price product range, which means that the product is designed to match the branded products of the organization. In the category of gourmet foods, the company can be considered as the producer of high quality food and is considered as the provider of high quality products at expensive rates. ConsumerCole’s supermarket is spread all across Australia and New Zealand. The retail stores of the company are spread all across the country. However, for this report, the target market of Box hillcommunity is taken. It is a primary suburb of Melbourne, Australia situated in the East of the major business district of Melbourne. It is known as City of Whitehorse and the local government is also recognized with the same name. The estimated resident population of the areais 8,926 people and the usual resident population is 8,446 (id Community, 2017). Box Hill is popular for its multicultural diversity with a significant population of Chinese born as well as Indians. According to the recent statistics, aboriginal and Torres Strait Islander are 16 in number,and the Australian citizens are 6,353 in number (id Community, 2017). The population with permanent or temporary employment is 3,921 in number and there are approximately 180 overseas visitors in the country (id Community, 2017). The characteristics and the preference of Chinese origin customers are different which are needed to be addressed in the retail stores of thecompany (IBIS, 2017).
Marketing Strategy 6Industry Analysis and Market TrendsAll across the globe, there has been a significant shift in the business operations of retail companies, which are also observed in the Australian companies. In a global perspective, severalchanges have been realized such as customer attraction towards the specialty stores and expectations of more personal retail experience. The customers are looking for retail stores with personality and expectations of retail experience (Brady, Cravens, Maister, Peter, Thompson, & Walker, 2007). The brick and mortar retail stores are becoming less fashionable for the customers and they are attracted towards online retail stores. As a result, several retail organizations are consolidating their stores, real estate, and employees to enhance their overall profitability. The success of the organization relies on its internationals reach, use of different retail platforms, accessibility and the speed of operations (Brei, Vieira & Matos, 2014). Another significant trend of the retail industry is the thriving e-commerce sector. With time, the number of people going to the physical stores is becoming less and as a result of which the number of physical stores has also declined. In the present times, it is important that the retailers use multi-channels to thrive and enter into foreign markets. Figure: Growth in Retail Industry(Source: Web Alive, 2017)
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
The Complete Marketing Strategies | Reportlg...
|14
|3018
|51
Strategic Information System for Coles Supermarketlg...
|12
|3566
|467
Strategic Management of Coles Group in Australialg...
|15
|3510
|89
Coles Supermarket: Reducing Food Waste with I'm Perfect Projectlg...
|13
|3102
|109
E-business Application for Coles Retail Storelg...
|10
|2725
|365
Requirements and Impact of Biosecurity Surveillancelg...
|6
|1654
|83