Answer To: Assessment Task Due Date % ILOs Assessed Assessment Task 4 Individual Assignment (2,500 words) ...
Sanjukta answered on Oct 19 2021
Marketing Management
Name of the student-
Date of submission-
Executive Summary
This entire project is based on analysing the marketing strategies, weaknesses, issues, and strengths of Coles Group Ltd. The report is the examination of the marketing circumstance of Coles Group Ltd and the suggestion of promoting system dependent on its investigation. Coles is the second-largest portion of the overall industry in-store business in Australia withheld 32% market share of the pie by end of 2012 but in recent times due to the pandemic, the scenario has changed a bit. The present Coles market strategies are quite the same as the principal contender, Woolworth. As the outcome, Coles has confronted the troublesome time at the present. Nonetheless, some objective fragment appears to be overlooked from the current promoting techniques, for instance, Downtown Strategy. However, some of the main recommendations are provided as the issues that are highlighted in the report. Coles should improve their marketing strategies so that it can maintain its position in the marketplace (Grimmer et al., 2017).
Table of Contents
Executive summary 2
Introduction and background 4
Critical analysis 6
Recommendations 8
References 10
Appendix 12
Introduction and Background
The company that is considered for carrying out this task is Coles Group Ltd. It is the leading Australian retailer as well as they also have 2500 retail outlets nationally. Furthermore, this firm also makes the Australian lives easier by delivering value, quality along with the service. On the other hand, they are also successfully processing more than 21 million consumer transactions every week, providing their consumers with products from a lot of suppliers as well as farmers (Shaikh & Shaikh, 2021). Coles is always ahead of their potential consumers as observed in Figure 1. The following are some of the main businesses of Coles such as Coles Supermarkets, Coles Online, Coles Liquor, Coles Express, Coles Financial Services, and Fly buys. It can be said that the marketing strategies of Coles are quite strong as they serve excellent service as well as high-quality products and at the same time they are also promoting their own brand house, for instance, beverages, rice, food, etc. Their vision is to become the most trusted retailer in Australia as well as grow the long-term shareholder value. Moreover, their purpose is feeding the Australians sustainably for helping them to lead happier lives. This firm is also working towards sustainability such as zero emissions, zero waste, sourcing locally, etc this is indicated in Figure 3 (Berman et al., 2018).
The situation analysis of Cole will be conducted using SWOT and PESTLE analysis for identifying the major marketing issues.
Strengths
· This firm has many excellent qualities that tend to enhance the ability to stand out of the crowd in the Australian marketplace.
· Excellent marketing strategies
· The company also holds the title of conducting some of the most successful promotional campaigns such as the conjunction with the Apple Computer (Van Kampen & Kirkham, 2020)
· Excellent online pickup and delivery
· As per the retail market report also Coles holds the maximum amount of share and it is indicated in figure 2
· Diversified workforce
Weaknesses
· The marketing strategy of the firm is not at all creative and it is failing to make Coles outstanding from the other competitors (Vaja, 2015)
· With the extreme competition at present in the marketplace, this firm is unable to win any consumers with their low price strategy and they have been also accused of unfair price manipulation that has affected the farmers
· This firm also received a lot of fines recently because of the unfair advertisement and there was a time they were banned from advertising their bread for 3 years for wrong information concerning advertising
· Cut-throat competition
Opportunities
· The Australian market is enhancing to a great extent so Coles have chances to increase their income via the fast-growing online business operations
· There is a lot of room in terms of expansion in the locations that Coles us yet to establish itself (Krasyuk et al., 2017)
· Diversification of the products
Threats
· There are other enormous organizations, for example, Aldi as well as Woolworths have the biggest market share and the hardened rivalry in the business makes undesirable value wars
· Consumers are getting extremely confused between the various generic brands because there is a lack of proper communication for each of the brand
Hence, after conducting the situational analysis it can be stated that the following are some of the major marketing issues: Firstly, one of the main problems is the same marketing strategies to the other supermarkets particularly the...