Coles Marketing Strategies: Analyzing Growth & Competitiveness

Running head : Coles Marketing Strategies Analysis 1 COLES MARKETING STRATEGIES ANALYSIS

Coles Marketing Strategies Analysis 2 Table of Contents Coles Background ............................................................................................................................ 3 Ansoff Model ................................................................................................................................... 3 4P’s Marketing Mix ......................................................................................................................... 3 SWOT Analysis ............................................................................................................................... 3 Application of theories .................................................................................................................... 4 Importance and benefits of theories ................................................................................................. 4 Conclusion ....................................................................................................................................... 4 References ........................................................................................................................................ 5

Coles Marketing Strategies Analysis 3 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 In this slide, the background of Cole’s supermarket is portrayed. Cole’s supermarket was established in 1914 and this company celebrated its centennial in 2014. 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 This slide will delineate Ansoff model and strategies that Cole’s supermarket could use from this model for business development. Presently, this company relies on providing products at an affordable cost as a strategy. This company could use such strategies as product diversification and product development strategy. 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 In this slide marketing strategy of Cole’s supermarket will be discussed. Cole’s supermarket currently focuses on providing products at affordable prices. This company could concentrate on place as a strategy by opening more physical stores and increasing influence of digital presence.

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Coles Marketing Strategies Analysis 4 SWOT Analysis Strength ● This company has different brands such as Liquor land 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 Strength of this company is that it has different brands of its own and has physical stores in over 800 locations. However, this company has certain weaknesses as shown in the table. Application of theories ● Ansoff: Market penetration and product diversification ● Marketing mix: Increasing physical and digital presence ● SWOT: Internal business analysis

Coles Marketing Strategies Analysis 5 The Ansoff Matrix is helpful to this company as it helps them detect areas where they can expand their business. 4P’s marketing mix theory could be applied to an effective marketing strategy. 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 Each marketing theory used here contains its own importance and benefits that are highlighted in this slide. Conclusion ● 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 Cole’s supermarket is operating for over 100 years and has certain strengths and weaknesses. The marketing strategy of this company is analysed through different theories such as Ansoff theory, four p marketing mix and so on. . Marketing mix is advantageous to make a marketing- related strategy. A complete SWOT analysis is performed, and specific goals and a plan of action for enhancing customer service are established.

Coles Marketing Strategies Analysis 6 References Rojek, T. (2019).Analysis of pro-market concept of business model.retrieved on 30th November 2022, retrieved from: https://essuir.sumdu.edu.ua/bitstream/123456789/74321/1/Rojek_MMI_02_2019.pdf Coles, 2022, Our history, retrieved on 30 th November 2022, retrieved from: https://www.coles.com.au/about-coles/our-history Coles, 2022, Our businesses, retrieved on 30th November 2022, retrieved from: https://www.coles.com.au/about-coles/our-businesses

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