The paper "Coles Situational Analysis and Marketing Objectives" is a great example of a marketing case study. With the growth of supermarket retail chains, there has been increased competition and hence the need for carrying out market analysis. This paper reflects on appropriate marketing objectives, target markets and positioning and overall approach to the appropriate marketing mix. The paper also discusses the link between various elements of the marketing plan. Finally, it will reflect on the role of the marketing plan in terms of how it can be applied tactically and strategically to enable Coles to remain competitive in the industry. Situational Analysis Coles has put in place strategic procedures and policies to compete effectively with its major competitors.
From the previous studies, Cole is one of the successful supermarket chains in Australia in terms of customer retention, marketing strategy, and customer satisfaction, innovation in product strategy, marketing strategy, financial capability, strong leadership values and work culture. Notably, online marketing strategies provide Cole with a revenue-generating extension due to its online presence. The Internet continues to offer the retail chain a convenient means of conducting affordable marketing, brick and mortar sales transactions and online shopping activities.
According to Gaeta, automating its business processes has been paramount in terms of financial success and increased customer satisfaction (30). Cole also plans to automate its operational activities to enhance its effectiveness. This will also maximize revenues while at the same time minimizing costs. Marketing Objectives Investment in information communication technology Coles continues to invest in ICT in order to enhance its marketing strategies, customer service and also costs control. Cole seeks to develop its marketing initiatives through extensive electronic media advertising, new branding scheme, in-store advertising and more importantly via internet advertising.
The retail giant increasingly continues to utilize the internet in all its processes. For instance, it is presently advertising its products and services through the internet besides selling its products and services virtually. This has enabled the retail giant to reach many potential customers particularly its target market. Corporate social responsibility The Australian government insists that the food industry should promote healthy eating habits. In this respect, Cole’ s speciality in fresh food places it on the front line in enlightening the society on the right and healthy foods to consume.
Following the department of health revelation that the food industry largely influences what people consume, Cole took it as its responsibility to ensure healthy eating habits amongst society. In this vein, Cole believes that improving society’ s health through healthy eating initiatives will earn the retail chain's reputation and much publicity (Quester & Lawrence 52). Product differentiation Cole’ s business is not only motivated by profitability but is also interested in promoting beverages and foods which promote healthy eating. Also, the retail giant continues to adjust their marketing strategies to accommodate new scientific developments achieved through research and development to enhance product differentiation.
In this vein, Cole continues to work together with producers, suppliers and manufacturers to ensure the production of nutritious foods that will enhance customers’ quality of life. The retail chain will continue packaging and labeling its goods in order to differentiate them from those of competitors. Backed by the quality and ease of identification, I believe Cole’ s products will remain competitive in the midst of other products offered by competitors.
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