Company Analysis | Wesfarmers Report
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Added on 2019-11-25
Company Analysis | Wesfarmers Report
Added on 2019-11-25
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RUNINING HEAD: Company analysis ContentsIntroduction – Company background:.............................................................................................1Department Stores – Service Detail:................................................................................................1Kmart...........................................................................................................................................1Target2TargetMarket:.............................................................................................................................................21.Gender...................................................................................................................................22.Income Group.......................................................................................................................2Target Department Store:................................................................................................................3SWOT Analysis:..........................................................................................................................3Strengths:..................................................................................................................................3Weaknesses:.............................................................................................................................4Opportunities:...........................................................................................................................4Threats:.....................................................................................................................................5Marketing Strategy:.........................................................................................................................61.Celebrities as brand ambassadors –......................................................................................62.Bull’s eye –...........................................................................................................................6[Document title][Document subtitle]
Wesfarmers – Target Corporation13.Social Media Marketing –....................................................................................................6Key Recommendations:...................................................................................................................71.Selling Kmart to Revive Target............................................................................................72.Trim Portfolio.......................................................................................................................7Conclusion:......................................................................................................................................7References:......................................................................................................................................9Introduction – Company background:Wesfarmers is a well-known conglomerate with its headquarters stationed in Western Australia in the capital city of Perth. It commenced operations in the year 1914 with a crystal clear aim of providing commodities to farmers in Australia. It was founded by a group of farmersunder the leadership of Walter Harper and was then recognized as ‘The Farmers’ Company’ (Wesfarmers, 2017). Wesfarmers proudly enjoys the status of one of the largest employers in the private sector with a giant workforce of over 222,000 full time personnel (Wesfarmers, 2017). The massive conglomerate aims to provide a satisfactory return to its’ enormous shareholder base of 530,000. This group of companies is listed on the Australian stock exchange with a stock price ofAUD 41.35 and is a part of AUX50 which lists top 50 companies of Australia (Australian Stock Exchange, 2017). Since its inception, this colossal enterprise has diversified into various businesses like Office supplies, liquor, Chemicals, Energy, Fertilizers, Department stores and coal.
Wesfarmers – Target Corporation2Department Stores – Service Detail:Wesfarmers inaugurated a new division of department stores primarily consisting of two of the biggest retail chains of the country Kmart and Target. It is one of the leading businesses ofWesfarmers generating annual revenue of $8646mn (Wesfarmers Annual Report, 2016).KmartKmart is one of Australia’s leading retail chains with over 200 stores throughout Australia and New Zealand. Kmart has positioned itself as a department store that provides low prices every day with a grand variety of merchandise.TargetTarget offers a sundry variety of merchandise, apparels and home wares. It functions across 300 outlets with the help of a 16000 member team. Sourcing for Target products is predominantly done via Asian markets (Wesfarmers, 2017).This report lays emphasis on the market strategies used by the Department stores divisionparticularly their brand ‘Target’. In order to grasp the same, a brief introduction of the division followed by their marketing strategies has been explained. The tool used in this report is SWOT analysis.Target Market:Phillip Kotler defines target market as a set of well-defined set of customers whose needsthe organization plans to satisfy (Creighton University, 2002). Analyzing target market forms thelaunch pad for introducing any new product or service into the market.Target department stores offers a broad spectrum of products in their outlets and hence they appeal to a large audience. 1.Gender: Essentially women tend to take more responsibility for grocery, home ware as well as apparel shopping in a family and hence they form a significant part of their target market.
Wesfarmers – Target Corporation32.Income Group: Business objective of Target department store is to ensure low price to their customers. Therefore their target market would fundamentally include lower and middle class families who seek good quality products at a lesser price.
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