Wesfarmers Market Strategy: Products, Pricing, and Positioning

This report provides an in-depth analysis of Wesfarmers' market strategy, an Australian conglomerate. It begins with a brief history and outlines the company's mission, products, and services, including Coles, Kmart, and industrial divisions. The report defines the marketing mix (4Ps: Price, Product, Promotion, Place) and examines Wesfarmers' application of each element. The pricing strategy is characterized by low prices, while the product strategy focuses on high-quality goods, including fresh food and industrial chemicals. Promotion includes online and print advertising, and products are sold through various channels. The report also discusses Wesfarmers' market positioning and offers recommendations, such as maintaining pricing, ensuring product quality, and expanding product lines to include healthcare items. The report concludes that Wesfarmers holds a strong market position and provides high-quality products at reasonable prices.

MARKET STRATEGY OF WESFARMERS

A BRIEF HISTORY OF WESFARMERS
• Wesfarmers Limited is an Australian conglomerate
company.
• Formed in 1914 as a cooperative company by the
Farmer’s and Settler’s Association of Western Australia.
• It is headquartered in Perth, Western Australia (Anitsal,
Anitsal & Girard, 2013).

MISSION OF THE COMPANY
•Deliver satisfactory returns to the
shareholders
•Ensures that each of the divisions has a
strong management capability
(Wesfarmers.com.au, 2018)

PRODUCTS AND SERVICES
Coles
Home and Office Supplies
Departmental stores
• Kmart
• Target (Low & Retailing, 2016).
Industrials
• Chemicals
• Energy and fertilizers
• Resources
• Industrial and safety
• Industrial and safety (Filistrucchi, 2014)
Insurance

DEFINING MARKETING MIX
•Set of actions and certain tactics
• Used by a company to promote its brand or product in the market
• Referred to as the 4Ps
• Include Pricing, Product, Promotion and Place

THE 4Ps
• Price
• Product
• Promotion
• Place

MARKETING MIX OF WESFARMERS
• Low pricing of the products.
• The products include different items that are required in the daily life
of the individuals.
• Products mainly include fresh supplies of food and drinks home and
office supplies, departmental stores, chemicals for industrial purposes
and insurances.
• The products are promoted through advertising in the electronic and
print media.
• the products are normally sold from the centres and other retail shops.

STRATEGIES OF MARKETING MIX OF
WESFARMERS
PRICING STRATEGY
• Low Pricing Strategy is followed by the company.
PRODUCT STRATEGY
• High quality products.
• Healthy and nutritious food and drinks.
• The food and the drinks does not have any kind of colours.
• The foods are prepared directly from the plant products.

STRATEGIES OF MARKETING MIX OF
WESFARMERS
PROMOTIONAL STRATEGY
• Online advertisement of the products and services.
PLACE STRATEGY
• The products are available in their specific stores.
• Retailers and shopping malls also provide their products.
• Available online.
• The products are mainly available in the countries of Australia and New Zealand

MARKET POSITIONING
• In marketing and business, the term “market positioning” refers to the
approach of a customer towards a brand or a product in relation to the
other competing brands or products (Kwak & Kim, 2013).
• Process of establishing an identity or image of a brand so that the
customers are attracted to it.
• It is a strategic process that involves marketing of the brand or
product.

MARKET POSITION OF WESFARMERS

RECOMMENDATIONS
• The company should maintain its pricing.
• The company should maintain the quality of the products .
• The company can produce health care products for the adults.
• The company can make use of the online as well as the electronic
medias to make the people aware about their products.
• The company can sell their products out of Australia as the whole
world has become more health conscious.