Strategic Innovation and Business Development
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AI Summary
This report recommends Coles to continue making use of its existing online marketing platforms like websites as a complement to use of YouTube, Facebook, Instagram, Pinterest, Google-, LinkedIn, and Twitter for its target audience. The report is directed to the management team at Coles Group to adopt online marketing by devoting all the necessary resources like finances and labor to ensure that all the associated benefits of the project can be realized.
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Running Head: Strategic Innovation and Business Development 1
Strategic Innovation and Business Development
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Institution
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Strategic Innovation and Business Development
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Strategic Innovation and Business Development 2
Executive Summary
Online marketing is a powerful tool that can help a business to realize desirable outcomes from
its undertakings over a long period of time. The above tool is vital in widening the market for a
company’s products and services because of the easily accessible and convenient online
platforms. In regards to Coles Group, implementation of an online marketing strategy will help it
to widen its base by attracting potential clients from New Zealand. Currently, Coles operates
only within Australia and so adoption of an extensive online marketing strategy will help to
expand its operations abroad particularly New Zealand. Moreover, Coles has failed to overpower
Woolworths in the retail industry due to the fact that Woolworths operates both within and
outside Australia. As such, implementation of an extensive online marketing technique is likely
to widen Coles’ customer base, sales and profits both in the short run and long run. The report is
directed to the management team at Coles Group to adopt online marketing by devoting all the
necessary resources like finances and labor to ensure that all the associated benefits of the project
can be realized. In spite of the risks that are associated with the project, proper coordination and
collaboration during execution of the processes among the implementation team will minimize
the project risks.
Executive Summary
Online marketing is a powerful tool that can help a business to realize desirable outcomes from
its undertakings over a long period of time. The above tool is vital in widening the market for a
company’s products and services because of the easily accessible and convenient online
platforms. In regards to Coles Group, implementation of an online marketing strategy will help it
to widen its base by attracting potential clients from New Zealand. Currently, Coles operates
only within Australia and so adoption of an extensive online marketing strategy will help to
expand its operations abroad particularly New Zealand. Moreover, Coles has failed to overpower
Woolworths in the retail industry due to the fact that Woolworths operates both within and
outside Australia. As such, implementation of an extensive online marketing technique is likely
to widen Coles’ customer base, sales and profits both in the short run and long run. The report is
directed to the management team at Coles Group to adopt online marketing by devoting all the
necessary resources like finances and labor to ensure that all the associated benefits of the project
can be realized. In spite of the risks that are associated with the project, proper coordination and
collaboration during execution of the processes among the implementation team will minimize
the project risks.
Strategic Innovation and Business Development 3
Table of contents
Contents
Executive Summary.....................................................................................................................................2
Table of contents.........................................................................................................................................3
1. Problem...................................................................................................................................................5
1.1 Background.......................................................................................................................................5
1.2 Definition..........................................................................................................................................5
1.3 Evidence............................................................................................................................................5
1.4 Timing...............................................................................................................................................6
1.5 Context..............................................................................................................................................6
2 Benefits....................................................................................................................................................7
2.1 Benefits..............................................................................................................................................7
2.2 Importance of the benefits to Government.........................................................................................7
2.3 Evidence of benefit delivery........................................................................................................7
2.4 Interdependencies..............................................................................................................................7
3. Strategy...................................................................................................................................................8
3.1 Approach...........................................................................................................................................8
3.2 Strategic options................................................................................................................................8
3.3 Recommended strategy......................................................................................................................9
4 Options analysis.....................................................................................................................................10
4.1 Project options considered...............................................................................................................10
4.2 Stakeholder identification and consultation.....................................................................................10
4.3 Social impacts..................................................................................................................................11
4.4 Environmental impacts....................................................................................................................11
4.5 Economic impacts............................................................................................................................12
4.6 Financial analysis............................................................................................................................12
4.7 Risks................................................................................................................................................13
5 Deliverability of recommendation..........................................................................................................14
5.1 Recommendation.............................................................................................................................14
5.2 Implementation................................................................................................................................14
Table of contents
Contents
Executive Summary.....................................................................................................................................2
Table of contents.........................................................................................................................................3
1. Problem...................................................................................................................................................5
1.1 Background.......................................................................................................................................5
1.2 Definition..........................................................................................................................................5
1.3 Evidence............................................................................................................................................5
1.4 Timing...............................................................................................................................................6
1.5 Context..............................................................................................................................................6
2 Benefits....................................................................................................................................................7
2.1 Benefits..............................................................................................................................................7
2.2 Importance of the benefits to Government.........................................................................................7
2.3 Evidence of benefit delivery........................................................................................................7
2.4 Interdependencies..............................................................................................................................7
3. Strategy...................................................................................................................................................8
3.1 Approach...........................................................................................................................................8
3.2 Strategic options................................................................................................................................8
3.3 Recommended strategy......................................................................................................................9
4 Options analysis.....................................................................................................................................10
4.1 Project options considered...............................................................................................................10
4.2 Stakeholder identification and consultation.....................................................................................10
4.3 Social impacts..................................................................................................................................11
4.4 Environmental impacts....................................................................................................................11
4.5 Economic impacts............................................................................................................................12
4.6 Financial analysis............................................................................................................................12
4.7 Risks................................................................................................................................................13
5 Deliverability of recommendation..........................................................................................................14
5.1 Recommendation.............................................................................................................................14
5.2 Implementation................................................................................................................................14
Strategic Innovation and Business Development 4
5.3 Management....................................................................................................................................14
5.4 Schedule..........................................................................................................................................15
Business canvas model..........................................................................................................................15
Value proposition canvas.......................................................................................................................16
References.................................................................................................................................................17
Appendix...................................................................................................................................................19
5.3 Management....................................................................................................................................14
5.4 Schedule..........................................................................................................................................15
Business canvas model..........................................................................................................................15
Value proposition canvas.......................................................................................................................16
References.................................................................................................................................................17
Appendix...................................................................................................................................................19
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Strategic Innovation and Business Development 5
1. Problem
1.1 Background
Innovation is an element that can help a business entity to flourish from its undertaking due to
the fact that it makes complicated processes easier, cheaper and accessible by the target audience
(Hughes et al., 2018). An organization may engage in an innovative approach to sustain its
competitiveness in the market through enhancing the quality and promoting its products and
services (Micael, 2010).
1.2 Definition
Online marketing is one of the major techniques that are being used by firms within Australia as
a way of promoting their product and services through bridging information gaps among the
target audiences. In such a case, the target audiences are able to access information about
available and new products and services of a company that engages in online marketing so as to
make their final purchase decisions (Micael, 2010).
1.3 Evidence
A multiple of rival companies in retailing industry of Australia like Woolworths, Coles, IGA,
and Aldi are making use of online marketing as a way of boosting their competitive advantage.
Due to competition, Coles Group which is Australia’s second biggest retail firm behind
Woolworths experienced a decline in its market share from 29.2% to 27.6%. In order to
rejuvenate its competitiveness and market share against its rivals, it would be necessary for Coles
to also attract clients from outside Australia through extensive online marketing approach.
Moreover, Woolworths Group has been able to maintain a large market share (34.0%) in the
retail industry due to an effective online marketing which has attracted client both within and
outside Australia (Statista.com, 2019). Therefore, management at Coles should undertake
1. Problem
1.1 Background
Innovation is an element that can help a business entity to flourish from its undertaking due to
the fact that it makes complicated processes easier, cheaper and accessible by the target audience
(Hughes et al., 2018). An organization may engage in an innovative approach to sustain its
competitiveness in the market through enhancing the quality and promoting its products and
services (Micael, 2010).
1.2 Definition
Online marketing is one of the major techniques that are being used by firms within Australia as
a way of promoting their product and services through bridging information gaps among the
target audiences. In such a case, the target audiences are able to access information about
available and new products and services of a company that engages in online marketing so as to
make their final purchase decisions (Micael, 2010).
1.3 Evidence
A multiple of rival companies in retailing industry of Australia like Woolworths, Coles, IGA,
and Aldi are making use of online marketing as a way of boosting their competitive advantage.
Due to competition, Coles Group which is Australia’s second biggest retail firm behind
Woolworths experienced a decline in its market share from 29.2% to 27.6%. In order to
rejuvenate its competitiveness and market share against its rivals, it would be necessary for Coles
to also attract clients from outside Australia through extensive online marketing approach.
Moreover, Woolworths Group has been able to maintain a large market share (34.0%) in the
retail industry due to an effective online marketing which has attracted client both within and
outside Australia (Statista.com, 2019). Therefore, management at Coles should undertake
Strategic Innovation and Business Development 6
extensive online marketing strategy for enhancing its market share and competitiveness in the in
the retail industry.
Figure 1: A graph showing the total grocery market in terms of the percentage market share of
2017 and 2018
Source: (Statista.com, 2019).
1.4 Timing
Due to the fact that Australia's retail industry is shifting from oligopolistic market structure to
perfect competition, there is likelihood that the number of entrant into the industry will continue
increasing over time. Management at Coles will thus need to establish a sound reputation of its
firm so that its market share can be maintained over time (Claire, 2012).
1.5 Context
The entry of rival firms like Aldi and IGA into the retail industry is posing a series threat to
Coles Group as far as market share is concerned. As seen from the above graph, Aldi is
increasingly becoming competitive in the retail industry due to increase in market share from
10.9% to 11.4% over 2017 and 2018 periods. From this point of view, it would be necessary for
management at Coles to undertake extensive online market as an innovative approach for
boosting and sustaining its market share (Dorie, 2012).
extensive online marketing strategy for enhancing its market share and competitiveness in the in
the retail industry.
Figure 1: A graph showing the total grocery market in terms of the percentage market share of
2017 and 2018
Source: (Statista.com, 2019).
1.4 Timing
Due to the fact that Australia's retail industry is shifting from oligopolistic market structure to
perfect competition, there is likelihood that the number of entrant into the industry will continue
increasing over time. Management at Coles will thus need to establish a sound reputation of its
firm so that its market share can be maintained over time (Claire, 2012).
1.5 Context
The entry of rival firms like Aldi and IGA into the retail industry is posing a series threat to
Coles Group as far as market share is concerned. As seen from the above graph, Aldi is
increasingly becoming competitive in the retail industry due to increase in market share from
10.9% to 11.4% over 2017 and 2018 periods. From this point of view, it would be necessary for
management at Coles to undertake extensive online market as an innovative approach for
boosting and sustaining its market share (Dorie, 2012).
Strategic Innovation and Business Development 7
2 Benefits
2.1 Benefits
Extensive online marketing is likely to management at Coles to realize increases in sales due to
widened customer base. For example, the customer base will be widened through attraction of
new and potential clients from outside Australia say from New Zealand through extensive online
marketing (Christensen and Duncan, 2016). Therefore, Coles is likely to realize improvements in
its profit margins and market share due to widened sales and customer base respectively.
2.2 Importance of the benefits to Government
Government is likely to reap significantly high revenues through taxation on Coles Group’s
widened undertakings within and Outside Australia. These additional revenues attained by
government from Coles will help to boost its economic growth and development by investing it
into other development projects like infrastructure (Sakas and Kavoura, 2015).
2.3 Evidence of benefit delivery
Measures of benefit delivery will be in form of attraction of new clients, increased sales and
profits. The main key performance indicators to the above measures will be online traffic
sources, brand awareness and return on investments. Online traffic sources will help to indicate
the effectiveness of Coles Group’s website in building and finding out experience of new clients.
Brand awareness indicator will help to reveal the knowhow of the target audience about Coles’
products and services that will be depicted in form of increases in sales (Green, 2013). Also,
return on investment will basically measure the capability of extensive online marketing in
delivering desirable profits to Coles (Parmenter, 2011).
2.4 Interdependencies
High prospects of new entrants into Australia's retail industry should be basic factor of
consideration by Coles' management due to the fact that the industry is transforming to a perfect
2 Benefits
2.1 Benefits
Extensive online marketing is likely to management at Coles to realize increases in sales due to
widened customer base. For example, the customer base will be widened through attraction of
new and potential clients from outside Australia say from New Zealand through extensive online
marketing (Christensen and Duncan, 2016). Therefore, Coles is likely to realize improvements in
its profit margins and market share due to widened sales and customer base respectively.
2.2 Importance of the benefits to Government
Government is likely to reap significantly high revenues through taxation on Coles Group’s
widened undertakings within and Outside Australia. These additional revenues attained by
government from Coles will help to boost its economic growth and development by investing it
into other development projects like infrastructure (Sakas and Kavoura, 2015).
2.3 Evidence of benefit delivery
Measures of benefit delivery will be in form of attraction of new clients, increased sales and
profits. The main key performance indicators to the above measures will be online traffic
sources, brand awareness and return on investments. Online traffic sources will help to indicate
the effectiveness of Coles Group’s website in building and finding out experience of new clients.
Brand awareness indicator will help to reveal the knowhow of the target audience about Coles’
products and services that will be depicted in form of increases in sales (Green, 2013). Also,
return on investment will basically measure the capability of extensive online marketing in
delivering desirable profits to Coles (Parmenter, 2011).
2.4 Interdependencies
High prospects of new entrants into Australia's retail industry should be basic factor of
consideration by Coles' management due to the fact that the industry is transforming to a perfect
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Strategic Innovation and Business Development 8
competition market structure. However, changes in macroeconomic indicators like inflation and
unemployment should also be considered by management at Coles (Parmenter, 2011).
3. Strategy
3.1 Approach
Management should consider features that define habits of the target audience when it comes to
making use of the multiple online platforms. Some of the online platforms that can be used by
Coles to market its products and services outside Australia include; YouTube, Pinterest, Google-,
Facebook, Instagram, Twitter, LinkedIn, SnapChat, WeChat and Whats App among others
(Edison, Ali, & Torkar, 2013). The target audience for this innovation approach is New Zealand
so management at Coles will need to consider the frequency of usage of online platforms in New
Zealand so as to allocate its resources effectively (Chaffey and Ellis-Chadwick, 2012).
3.2 Strategic options
Strategic options will basically involve considering the frequency of usage of online platforms
for making of purchase decisions by potential clients outside Australia particularly New Zealand.
Below is a figure indicating the most widely used online platforms in New Zealand.
competition market structure. However, changes in macroeconomic indicators like inflation and
unemployment should also be considered by management at Coles (Parmenter, 2011).
3. Strategy
3.1 Approach
Management should consider features that define habits of the target audience when it comes to
making use of the multiple online platforms. Some of the online platforms that can be used by
Coles to market its products and services outside Australia include; YouTube, Pinterest, Google-,
Facebook, Instagram, Twitter, LinkedIn, SnapChat, WeChat and Whats App among others
(Edison, Ali, & Torkar, 2013). The target audience for this innovation approach is New Zealand
so management at Coles will need to consider the frequency of usage of online platforms in New
Zealand so as to allocate its resources effectively (Chaffey and Ellis-Chadwick, 2012).
3.2 Strategic options
Strategic options will basically involve considering the frequency of usage of online platforms
for making of purchase decisions by potential clients outside Australia particularly New Zealand.
Below is a figure indicating the most widely used online platforms in New Zealand.
Strategic Innovation and Business Development 9
Source: Statista 2019
From the above graph, it is evident that management at Coles should prioritize YouTube,
Facebook, Instagram, Pinterest, Google-, LinkedIn, and Twitter for undertaking its extensive
online marketing for its products. The above strategic option exclusion of SnapChat, WeChat
and Whats App as ways for conducting online marketing in New Zealand because they are not
some paramount (Statista.com, 2019). Among the seven feasible online platforms, Coles’
management should devote much focus and resources on the use of YouTube and Facebook as
they are the most frequently used online platforms in New Zealand.
3.3 Recommended strategy
This report recommends Coles to continue making use of its existing online marketing platforms
like websites as a complement to use of YouTube, Facebook, Instagram, Pinterest, Google-,
LinkedIn, and Twitter for its target audience (Sakas and Kavoura, 2015).
Source: Statista 2019
From the above graph, it is evident that management at Coles should prioritize YouTube,
Facebook, Instagram, Pinterest, Google-, LinkedIn, and Twitter for undertaking its extensive
online marketing for its products. The above strategic option exclusion of SnapChat, WeChat
and Whats App as ways for conducting online marketing in New Zealand because they are not
some paramount (Statista.com, 2019). Among the seven feasible online platforms, Coles’
management should devote much focus and resources on the use of YouTube and Facebook as
they are the most frequently used online platforms in New Zealand.
3.3 Recommended strategy
This report recommends Coles to continue making use of its existing online marketing platforms
like websites as a complement to use of YouTube, Facebook, Instagram, Pinterest, Google-,
LinkedIn, and Twitter for its target audience (Sakas and Kavoura, 2015).
Strategic Innovation and Business Development 10
4 Options analysis
Just like any other innovative investment, management at Coles would prefer to incur less
operational costs of undertaking extensive online marketing aimed at attracting potential clients
from New Zealand. Among all the online platforms, Coles should make use of YouTube and
Facebook as part of cost saving technique because they are the most used platforms in New
Zealand. In such a case, available resources like human resource, finances, and information
technology personnel will be effectively used to undertake online marketing due to exclusion of
less effective platforms like SnapChat or Whats App. Due to the fact that the report is targeting
potential clients from New Zealand, online marketing platforms like SnapChat, Whats App and
WeChat can continue to be used to target potential clients within Australia (Sakas and Kavoura,
2015).
4.1 Project options considered
A direct method was used to select the above project options for conducting extensive online
marketing for Coles to attract potential clients from New Zealand. The above methods involved
identifying already established and frequently used online platforms that are being used by the
target audience. They include; YouTube, Facebook, Instagram, Pinterest, Google-, LinkedIn, and
Twitter which are mostly used by persons aged 18 and above years. Among the above available
options, the report informs Coles’ management to focus on using YouTube and Facebook
because they are likely to attract huge number of potential clients in a short period of time (Sakas
and Kavoura, 2015).
4.2 Stakeholder identification and consultation
The table below shows the stakeholders and position in regards to implementation of the project
Personnel Responsibility
Management Team Provides necessary resources like labor and
4 Options analysis
Just like any other innovative investment, management at Coles would prefer to incur less
operational costs of undertaking extensive online marketing aimed at attracting potential clients
from New Zealand. Among all the online platforms, Coles should make use of YouTube and
Facebook as part of cost saving technique because they are the most used platforms in New
Zealand. In such a case, available resources like human resource, finances, and information
technology personnel will be effectively used to undertake online marketing due to exclusion of
less effective platforms like SnapChat or Whats App. Due to the fact that the report is targeting
potential clients from New Zealand, online marketing platforms like SnapChat, Whats App and
WeChat can continue to be used to target potential clients within Australia (Sakas and Kavoura,
2015).
4.1 Project options considered
A direct method was used to select the above project options for conducting extensive online
marketing for Coles to attract potential clients from New Zealand. The above methods involved
identifying already established and frequently used online platforms that are being used by the
target audience. They include; YouTube, Facebook, Instagram, Pinterest, Google-, LinkedIn, and
Twitter which are mostly used by persons aged 18 and above years. Among the above available
options, the report informs Coles’ management to focus on using YouTube and Facebook
because they are likely to attract huge number of potential clients in a short period of time (Sakas
and Kavoura, 2015).
4.2 Stakeholder identification and consultation
The table below shows the stakeholders and position in regards to implementation of the project
Personnel Responsibility
Management Team Provides necessary resources like labor and
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Strategic Innovation and Business Development 11
finances for execution of project activities and
processes
Information Technology Specialist Creates, maintains and updates the software
system for Coles’ online marketing initiative
Project Manager Coordinates and controls all the resources that
will be used in executing project activities
from the start to the end.
Consultant Offers professional advice and guidance on the
project processes
4.3 Social impacts
The project will help Coles to create and maintain relationship with its clients outside Australia.
The above merit is likely to be achieved through interactions that the team at Coles will hold
with its clients via various online platforms like YouTube and Facebook. Moreover, these
platforms are essential in capturing and responding to feedbacks from clients in the comments
and rating sections (Sakas and Kavoura, 2015).
4.4 Environmental impacts
Communication is a vital element which helps to ensure that the quality of information that is
exchanged among the public concerning products and services offered by a company is reliable
and accurate. As such, the project will help to ensure better quality flow of information and
experience across the target audience due to the fact that online platforms are easily accessible.
Experience of clients will be enhanced through use of Cookies and quality of information will be
enhanced by prioritizing privacy of clients whilst undertaking online marketing (Sakas and
Kavoura, 2015).
finances for execution of project activities and
processes
Information Technology Specialist Creates, maintains and updates the software
system for Coles’ online marketing initiative
Project Manager Coordinates and controls all the resources that
will be used in executing project activities
from the start to the end.
Consultant Offers professional advice and guidance on the
project processes
4.3 Social impacts
The project will help Coles to create and maintain relationship with its clients outside Australia.
The above merit is likely to be achieved through interactions that the team at Coles will hold
with its clients via various online platforms like YouTube and Facebook. Moreover, these
platforms are essential in capturing and responding to feedbacks from clients in the comments
and rating sections (Sakas and Kavoura, 2015).
4.4 Environmental impacts
Communication is a vital element which helps to ensure that the quality of information that is
exchanged among the public concerning products and services offered by a company is reliable
and accurate. As such, the project will help to ensure better quality flow of information and
experience across the target audience due to the fact that online platforms are easily accessible.
Experience of clients will be enhanced through use of Cookies and quality of information will be
enhanced by prioritizing privacy of clients whilst undertaking online marketing (Sakas and
Kavoura, 2015).
Strategic Innovation and Business Development 12
4.5 Economic impacts
The project is likely to yield high returns to Coles in form of increased sales due to widened
customer base. Also, the tax base of the government is likely to be widened whereby the overall
contributions of the retail industry to Australia’s Gross Domestic Product will be increased
(Sakas and Kavoura, 2015).
4.6 Financial analysis
Financial analysis for Coles is based on the digital marketing budget plans for over 3,347
companies across the world which was established in 2017 (Mazzaferro, 2018). It is from this
point of view that the number of components needed to develop the project will be derived. In
order to complete the extensive online marketing project, Coles will need to consider a multiple
of elements and cost estimates as depicted in the table below.
Component Cost Estimate
Social media marketing A$ 3000
Content marketing A$ 1200
Personalization A$800
Video advertising A$ 1000
Lead generation A$ 700
Market analytics A$ 1600
Mobile marketing A$ 1000
Email marketing A$ 500
Marketing automation A$ 2000
Natural search A$ 500
Lead management A$ 1300
Webinars A$ 900
4.5 Economic impacts
The project is likely to yield high returns to Coles in form of increased sales due to widened
customer base. Also, the tax base of the government is likely to be widened whereby the overall
contributions of the retail industry to Australia’s Gross Domestic Product will be increased
(Sakas and Kavoura, 2015).
4.6 Financial analysis
Financial analysis for Coles is based on the digital marketing budget plans for over 3,347
companies across the world which was established in 2017 (Mazzaferro, 2018). It is from this
point of view that the number of components needed to develop the project will be derived. In
order to complete the extensive online marketing project, Coles will need to consider a multiple
of elements and cost estimates as depicted in the table below.
Component Cost Estimate
Social media marketing A$ 3000
Content marketing A$ 1200
Personalization A$800
Video advertising A$ 1000
Lead generation A$ 700
Market analytics A$ 1600
Mobile marketing A$ 1000
Email marketing A$ 500
Marketing automation A$ 2000
Natural search A$ 500
Lead management A$ 1300
Webinars A$ 900
Strategic Innovation and Business Development 13
Display advertising A$ 2000
Sales enablement A$ 2500
Paid search A$ 1000
Affiliate marketing A$ 500
Total Costs A$ 200, 000
The whole process of project development will cost Coles’ management a sum of A$ 200, 000
for facilitating all activities from the start to the end.
4.7 Risks
Pricing is the major risk that Coles Group will be faced with after completion of the project. I
most cases, clients are likely to develop different kinds of perceptions basing on the kind of price
that a company charges for its products and services. In case a lower price is charged, the target
audience may develop a perception that the quality of the goods and services are poor (Bhasin,
2012). On the other hand, charging higher prices for products and services that do not meet the
premium standard may deter potential clients from considering the services and products of the
company. As a result, pricing approach for services and products that will be offered to the new
clients will act as a risk element in that clients may develop different perceptions concerning
Coles’ products and services. Additionally, Coles stands a risk of injecting a lot of resources in a
multiple of online platforms that are used in New Zealand like YouTube, Instagram, Facebook,
and LinkedIn among others (Dubickis, Gaile-Sarkane, 2015). Moreover, investing in all these
platforms may not yield equal returns as far as attraction of new clients is concerned. Injections
may be in form of creating Ads, videos and online traffic payments (Kokemuller, 2019).
Therefore, Coles is faced with high prospects of failure to reap desirable returns in form of
attracting huge number of clients in particular after injecting resources in all the available online
platforms for marketing its products and services.
Display advertising A$ 2000
Sales enablement A$ 2500
Paid search A$ 1000
Affiliate marketing A$ 500
Total Costs A$ 200, 000
The whole process of project development will cost Coles’ management a sum of A$ 200, 000
for facilitating all activities from the start to the end.
4.7 Risks
Pricing is the major risk that Coles Group will be faced with after completion of the project. I
most cases, clients are likely to develop different kinds of perceptions basing on the kind of price
that a company charges for its products and services. In case a lower price is charged, the target
audience may develop a perception that the quality of the goods and services are poor (Bhasin,
2012). On the other hand, charging higher prices for products and services that do not meet the
premium standard may deter potential clients from considering the services and products of the
company. As a result, pricing approach for services and products that will be offered to the new
clients will act as a risk element in that clients may develop different perceptions concerning
Coles’ products and services. Additionally, Coles stands a risk of injecting a lot of resources in a
multiple of online platforms that are used in New Zealand like YouTube, Instagram, Facebook,
and LinkedIn among others (Dubickis, Gaile-Sarkane, 2015). Moreover, investing in all these
platforms may not yield equal returns as far as attraction of new clients is concerned. Injections
may be in form of creating Ads, videos and online traffic payments (Kokemuller, 2019).
Therefore, Coles is faced with high prospects of failure to reap desirable returns in form of
attracting huge number of clients in particular after injecting resources in all the available online
platforms for marketing its products and services.
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Strategic Innovation and Business Development 14
5 Deliverability of recommendation
5.1 Recommendation
Among all the available options, directing resources towards making use of Facebook and
YouTube as the core online marketing platforms for the target audience should be prioritized by
management at Coles. The team should engage in creates Ads as well as videos are relevant for
delivering information about its products and services to the target audience (Lee and Kim,
2013). The above approach will help in ensuring that relevant updates are delivered to audience
in an effective manner online.
5.2 Implementation
The implementation team should constitute of experience and hospitable team that should be
able to make updates, maintain and provide a friendly environment for the potential clients. The
above team should be able to identify and respond to clients reacts towards the Ads and videos
that may be spread across the established online platforms (Chaffey and Ellis-Chadwick, 2012).
5.3 Management
All the management costs should be minimized by responsibly handling all the software and
hardware equipment that will be used for creating and maintaining the established online
marketing platforms (Chaffey and Ellis-Chadwick, 2012).
5.4 Schedule
The project should take a period of at least one year to be completed. However, objectives like
attracting new customer, increasing sales and profits should be realized after a period of two or
more years (Chaffey and Ellis-Chadwick, 2012).
Business canvas model
Key Partners
i. Management Team
Key Activities
Creation of Accounts
Value
Propositions
Customer
Relationships
Customer
Segments
5 Deliverability of recommendation
5.1 Recommendation
Among all the available options, directing resources towards making use of Facebook and
YouTube as the core online marketing platforms for the target audience should be prioritized by
management at Coles. The team should engage in creates Ads as well as videos are relevant for
delivering information about its products and services to the target audience (Lee and Kim,
2013). The above approach will help in ensuring that relevant updates are delivered to audience
in an effective manner online.
5.2 Implementation
The implementation team should constitute of experience and hospitable team that should be
able to make updates, maintain and provide a friendly environment for the potential clients. The
above team should be able to identify and respond to clients reacts towards the Ads and videos
that may be spread across the established online platforms (Chaffey and Ellis-Chadwick, 2012).
5.3 Management
All the management costs should be minimized by responsibly handling all the software and
hardware equipment that will be used for creating and maintaining the established online
marketing platforms (Chaffey and Ellis-Chadwick, 2012).
5.4 Schedule
The project should take a period of at least one year to be completed. However, objectives like
attracting new customer, increasing sales and profits should be realized after a period of two or
more years (Chaffey and Ellis-Chadwick, 2012).
Business canvas model
Key Partners
i. Management Team
Key Activities
Creation of Accounts
Value
Propositions
Customer
Relationships
Customer
Segments
Strategic Innovation and Business Development 15
ii. Information
Technology
Specialist
iii. Project Manager
iv. Consultant
on various online
platforms like
YouTube, Facebook,
Instagram, Pinterest,
Google-, LinkedIn,
and Twitter
Increase in Sales,
Profits, Customer
base and Market
Share
Direct
communications
with the clients via
online platforms
concerning the
products offered by
Coles
The project will
target clients
who are based
in New Zealand
Key Resources
i. Financial
Resources
ii. Human
Resources
Channels
Online
communications
via YouTube,
Facebook,
Instagram,
Pinterest, Google-,
LinkedIn, and
Twitter
Cost Structure
A budget of A$ 200, 000 will be used to execute
various project activities like paid search, webinars,
display advertising among others
Revenue Streams
Revenues from this project will arise
from the sales that will be made to new
clients who are based in New Zealand
Value proposition canvas
Product Customer
Benefits
Enhance customer
satisfaction due to good
quality
Experience
Coles’
products have
been meeting
the needs of
consumers in
Australia for a
long period of
time
Features
i. Reputable
brand names
ii. Packaging
Wants Needs Fears
Maximum
possible degree
of utility from
Coles’ products
High quality
products
Inconsistency in
product supply
due to the fact
that Coles is
outside New
Zealand
ii. Information
Technology
Specialist
iii. Project Manager
iv. Consultant
on various online
platforms like
YouTube, Facebook,
Instagram, Pinterest,
Google-, LinkedIn,
and Twitter
Increase in Sales,
Profits, Customer
base and Market
Share
Direct
communications
with the clients via
online platforms
concerning the
products offered by
Coles
The project will
target clients
who are based
in New Zealand
Key Resources
i. Financial
Resources
ii. Human
Resources
Channels
Online
communications
via YouTube,
Facebook,
Instagram,
Pinterest, Google-,
LinkedIn, and
Cost Structure
A budget of A$ 200, 000 will be used to execute
various project activities like paid search, webinars,
display advertising among others
Revenue Streams
Revenues from this project will arise
from the sales that will be made to new
clients who are based in New Zealand
Value proposition canvas
Product Customer
Benefits
Enhance customer
satisfaction due to good
quality
Experience
Coles’
products have
been meeting
the needs of
consumers in
Australia for a
long period of
time
Features
i. Reputable
brand names
ii. Packaging
Wants Needs Fears
Maximum
possible degree
of utility from
Coles’ products
High quality
products
Inconsistency in
product supply
due to the fact
that Coles is
outside New
Zealand
Strategic Innovation and Business Development 16
Company: Coles Group
Products: Fruits, Liquors, Express and
Vintage Cellars among others
Substitutes: Bakery, Cheese, Sea foods and Grocery
Company: Coles Group
Products: Fruits, Liquors, Express and
Vintage Cellars among others
Substitutes: Bakery, Cheese, Sea foods and Grocery
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Strategic Innovation and Business Development 17
References
Chaffey, D. and Ellis-Chadwick, F. (2012).Digital marketing: Strategy, Implementation and
Practice: 1st ed, Harlow: Pearson Education
Christensen, C and Duncan, D (2016).Know your customers' "jobs to be done": Harvard
Business Review, 54-62.
Claire, B (2012). Digital marketing is growing in Australia, but so is the skills gap:
Econsultancy.
Dorie, C (2012). The End of the Expert: Why No One in Marketing Knows What They Are
Doing: Forbes.
Kokemuller, N (2019). Types of Marketing Risks: Retrieved from:
https://smallbusiness.chron.com/types-marketing-risks-65763.html
Lee, J and Kim, M (2013).Why People Pass along Online Video Advertising: From the
Perspectives of the Interpersonal Communication Motives Scale and the Theory of
Reasoned Action: Journal of Interactive Advertising. 13 (1): p. 1–13
Micael, D (2010). Marketing Communications: A Brand Narrative Approach: Chichester, West
Sussex UK: John Wiley & Sons Ltd. p. 36.
Parmenter, D. (2011). Key Performance Indicators: 1st ed. Hoboken, N.J.: John Wiley & Sons.
Sakas, D and Kavoura, A (2015). The Development of Facebook's Competitive Advantage for
Brand Awareness: International Conference on Applied Economics, p. 589-597
References
Chaffey, D. and Ellis-Chadwick, F. (2012).Digital marketing: Strategy, Implementation and
Practice: 1st ed, Harlow: Pearson Education
Christensen, C and Duncan, D (2016).Know your customers' "jobs to be done": Harvard
Business Review, 54-62.
Claire, B (2012). Digital marketing is growing in Australia, but so is the skills gap:
Econsultancy.
Dorie, C (2012). The End of the Expert: Why No One in Marketing Knows What They Are
Doing: Forbes.
Kokemuller, N (2019). Types of Marketing Risks: Retrieved from:
https://smallbusiness.chron.com/types-marketing-risks-65763.html
Lee, J and Kim, M (2013).Why People Pass along Online Video Advertising: From the
Perspectives of the Interpersonal Communication Motives Scale and the Theory of
Reasoned Action: Journal of Interactive Advertising. 13 (1): p. 1–13
Micael, D (2010). Marketing Communications: A Brand Narrative Approach: Chichester, West
Sussex UK: John Wiley & Sons Ltd. p. 36.
Parmenter, D. (2011). Key Performance Indicators: 1st ed. Hoboken, N.J.: John Wiley & Sons.
Sakas, D and Kavoura, A (2015). The Development of Facebook's Competitive Advantage for
Brand Awareness: International Conference on Applied Economics, p. 589-597
Strategic Innovation and Business Development 18
Statista.com (2019).Leading social networks in New Zealand as of January 2018: Retrieved
from: https://www.statista.com/statistics/681840/new-zealand-most-popular-social-
media-networks/
Dubickis, M., Gaile-Sarkane, E. (2015). Perspectives on Innovation and Technology Transfer.
Procedia - Social and Behavioral Sciences. 213: 965–970.
doi:10.1016/j.sbspro.2015.11.512
Bhasin, K. (2 April 2012). This Is The Difference Between 'Invention' And 'Innovation. Business
Insider.
Edison, H., Ali, N.B., & Torkar, R. (2013).Towards innovation measurement in the software
industry. Journal of Systems and Software. 86 (5): 1390–1407
Mazzaferro, A. (2018).Such a Murmur: Innovation, Rebellion, and Sovereignty in William
Strachey's True Reportory. Early American Literature. 53 (1): 3–32.
doi:10.1353/eal.2018.0001. Retrieved 19 February 2019.
Green, E. (20 June 2013). Innovation: The History of a Buzzword. The Atlantic.
Hughes, D. J.; Lee, A.; Tian, A. W.; Newman, A.; Legood, A. (2018). Leadership, creativity, and
innovation: A critical review and practical recommendations. The Leadership Quarterly.
29 (5): 549–569.
Statista.com (2019).Leading social networks in New Zealand as of January 2018: Retrieved
from: https://www.statista.com/statistics/681840/new-zealand-most-popular-social-
media-networks/
Dubickis, M., Gaile-Sarkane, E. (2015). Perspectives on Innovation and Technology Transfer.
Procedia - Social and Behavioral Sciences. 213: 965–970.
doi:10.1016/j.sbspro.2015.11.512
Bhasin, K. (2 April 2012). This Is The Difference Between 'Invention' And 'Innovation. Business
Insider.
Edison, H., Ali, N.B., & Torkar, R. (2013).Towards innovation measurement in the software
industry. Journal of Systems and Software. 86 (5): 1390–1407
Mazzaferro, A. (2018).Such a Murmur: Innovation, Rebellion, and Sovereignty in William
Strachey's True Reportory. Early American Literature. 53 (1): 3–32.
doi:10.1353/eal.2018.0001. Retrieved 19 February 2019.
Green, E. (20 June 2013). Innovation: The History of a Buzzword. The Atlantic.
Hughes, D. J.; Lee, A.; Tian, A. W.; Newman, A.; Legood, A. (2018). Leadership, creativity, and
innovation: A critical review and practical recommendations. The Leadership Quarterly.
29 (5): 549–569.
Strategic Innovation and Business Development 19
Appendix
Appendix A
Source: webstrategiesinc.com
Appendix
Appendix A
Source: webstrategiesinc.com
1 out of 19
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