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Marketing

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Nov 24, 2024

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Coles Marketing Strategies Analysis
Coles Background • Coles supermarket is a retail company • This company was established in 1914 by GH coles (Coles, 2022) • This company has been operating in retail industry for over 100 years
Marketing theories to Coles engaged (Ansoff Model) • Ansoff model includes four strategies for business growth (Rojek, 2019) • Currently this company depends on a strategy of affordable products • Coles could use a diversification strategy of Ansoff model Market Penetration strategy Product Development strategy Market Development Strategy Diversification strategy Existing Existing New New
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4P’s Marketing Mix • Marketing mix includes four elements product, price, promotion and place. • Coles focus on price and product • This company could place as a marketing strategy Price Product Promotion Place
SWOT Analysis • Cost leadership helps a startup in constructing market • Customer relationship management is the key ingredients for establishing a startup against the competitive market • Cost focus can help to retain customers. • Creating Corporate Culture that brings the supreme talent Strength • This company has different brands such as Liquorland and Vintage cellars (Coles, 2022) • This company operates in over 800 locations • Focused on providing customer Weakness • Lack of innovation is a weakness • Lack of investment in research and development Opportunities • Coles could expand its product line to attract more consumers in similar market • Coles could discover unanticipated markets Threats • Increased competition is a threat • Inflation and recession is another threat
Application of theories • Ansoff model assists to expand business • Marketing mix theory could be applied to marketing-related strategy • Market penetration and product diversification Ansoff • Increasing physical and digital presence Marketin g mix • Internal business analysis SWOT
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Importance and benefits of theories • Ansoff are beneficial for business expansion • Marketing mix is advantageous to make marketing strategy • SWOT is beneficial for analysing internal business environment beneficial for business expansion advantageous to make marketing strategy beneficial for analysing internal business environment
Conclusion Adopt novel technologies Different brands and many physical Diversify its products • Australian retail industry is required to adopt novel technologies • Different brands and many physical stores are strengths of this company • Coles could diversify its products and penetrate other markets for business expansion • Analysing its internal business environment through SWOT will provide insight
References Coles, 2022, Our history, https://www.coles.com.au/about-coles/our-history Coles, 2022, Our businesses, https://www.coles.com.au/about-coles/our-businesses Rojek, T. (2019). Analysis of pro-market concept of business model. https://essuir.sumdu.edu.ua/bitstream/123456789/74321/1/Rojek_MMI_02_2019 .pdf
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