Retail Management and Marketing

Running head: RETAIL MANAGEMENT AND MARKETING
Retail Management and Marketing
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1RETAIL MANAGEMENT AND MARKETING
Executive Summary
Retail Marketing and Management are strategized according to a lot of factors. After
recognizing a target audience, The Price at which, a particular product or service will be
made available, is to be fixed. It is also necessary to understand the purpose and importance
of product and thus, promotions are to be made which would have proper relevance. A retail
company should also pay enough importance to other factors like process, place, people and
physical evidence. This is a report of two such retail companies, Woolworths and Coles and
an analysis of its strengths and weaknesses. A thorough reading and examinations of such
conditions reveal weaknesses and strengths of both, which includes the Price factor for
Woolworths and factors such as Promotion and Process for Coles as weaknesses. There are
factors which have proven to be the strengths of both the companies providing edge to their
marketing mix.

2RETAIL MANAGEMENT AND MARKETING
Table of Contents
Executive Summary...................................................................................................................1
Introduction................................................................................................................................3
Discussion..................................................................................................................................3
Marketing Mix.......................................................................................................................3
The Seven Ps..........................................................................................................................4
Recommendation........................................................................................................................7
Conclusion..................................................................................................................................8
References..................................................................................................................................9

3RETAIL MANAGEMENT AND MARKETING
Introduction
Retail marketing can be regarded as the measures and strategies a retailer executes in
creating awareness and promotion about the services and products he intends to sell to set of
audience. These programs which are strategized and executed can comprise of a broad range
of activities. The factors and aspects which shape the strategies of marketing of a Retail
company are Advertising, Sales Promotion, Marketing Mix and Visual Merchandising. The
two companies we would focus on, to assess and analyze the marketing and management
strategies are Woolworths and Coles.
Discussion
Woolworths was originally found under the name of Wallworths Bazar in 1924,
which is one of the pioneers among the five-and-dime store and retail business. It has
gradually expanded and spread across many countries with also diversifying what they have
to offer to their consumers, with time. On the other hand, Coles had their first Variety Store
opened in the Victorian suburb of Melbourne in 1914. It gradually expanded their business
from just a variety store to a retail business with the growing interest in food, around 1948 .
(Ayers & Odegaard, 2017). Thus they started expanding with brining a number of grocery
stores under their own group.
The target audience has evolves with the changing market scenario and advancement
of society and technology. The initial target of both the companies were the common people
and catering to their basic needs of commodities and necessities. The way to cater the needs
of people and appealing to them for the services they have in store, to offer, have undergone
changes as required, according to contemporary needs.