Media Management for Wesfarmers: A New Media Plan for Promoting Products and Services

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Media Management

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Executive Summary
With the effect of globalisation in the business market, numerous opportunities have been
originated for the organizations in order to expand their businesses in the domestic as well as in
international markets. Apart from globalisation, technology has also played pivotal role in
enhancing organizational performance as it has eased the way to execute the functionalities.
Wesfarmers is one of the behemoth players of retail industry situated in Australia. Along with
retail industry, organizational operations are diversified in other sectors also and with regards to
this, organization also operates in other countries across the globe like United Kingdom, New
Zealand, Bangladesh, Ireland, etc.
This report will focus over the requirement of media strategies for Wesfarmers in order to
promote their products and services in the target market. With the objective of enhancing its
market share as well as for the objective of gaining competitive advantage, organization believes
in introduction of new and innovative products and services. This also helps the organization to
retain its existing and potential customers along with attracting new customer segments. While
introducing new products and services, a marketing and media plan is required so that the
organization could easily communicate to its target audience with relevance to the features,
specifications and other key attributes of the particular product or service. The media plan will be
discussed in this report with the objective of targeting customers along with gaining the desired
goals and objectives. From the large customer segments, appropriate target markets will be
analysed along with specifying the media objectives, tools of social media which will be used for
promotion and advertisement. In addition to this, cost of media tools will also be analysed in
order to attain the desired goals of approaching to the right customer segments at the lowest cost.

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Table of Contents
Executive Summary.........................................................................................................................2
Introduction......................................................................................................................................4
Profiling/selecting target market......................................................................................................4
Geographic...................................................................................................................................4
Demographic................................................................................................................................4
Psychographic..............................................................................................................................5
Behavioural..................................................................................................................................5
Media objectives..............................................................................................................................5
Selecting media categories and vehicles..........................................................................................6
Determining Media Cost..................................................................................................................8
Recommendations and Conclusion..................................................................................................9
References......................................................................................................................................10

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Introduction
Wesfarmers Limited was established in 1914 and from then, it has been grown as one of the
largest Australian companies. Company is headquartered in Perth, Western Australia and along
with the retail industry; organization is active in other industries like chemicals, fertilisers,
industrial and safety products, coal mining, etc. In 2016, Wesfarmers overtook Woolworths and
BHP Billiton in terms of revenues. Organization is the largest private employer in Australia and
with approximately 223,000 employees; organization has a wide, talented and skilled workforce.
With huge number of employees, organization has set up its effective presence in different
industries as well as in the international market. With the objective of gaining competitive
advantage as well as for enhancing the demand for their products and services in the target
market, organization has decided to launch a new media plan in order to communicate the
organizational messages in an effective manner to its potential and existing customer segments
and that too at lower cost. With the help of this media plan, organization would easily be able to
attain its desired goals and objectives and appropriate media tools will be selected on the basis of
business requirements and market conditions (Wesfarmers Limited, 2018).
Profiling/selecting target market
Wesfarmers is primarily engaged in retailing industry and with regards to this; organization has
expanded its product and service offering in order to satisfy target audience’s demands and
wants. With the objective of gaining positive outcomes, it has been reviewed that Wesfarmers is
very active in conducting market research analysis in order to identify the demands and wants of
their customers. Organization has a huge product offering and with regards to this, they target
almost every customer segment with the objective of enhancing their customer base as well as
for the objective of enhancing its revenues and sales.
Wesfarmers perform in the retail industry with its subsidiary company Coles. Coles is one of the
largest retailers in Australia and its primary competitor is Woolworths. Both of these
organizations have covered approximately 80% of the overall market area and with regards to
this, duopoly type of market conditions have been set in the Australian retail industry. In
relevance to the organizational new media, organization will profile their customer segments on