Marketing has become the key to success for all the companies irrespective of the industry they are operating in. The way in which a company applies its marketing mix plays a major role in its success. The difference in the marketing mix is something that distinguishes one company’s marketing from another. Marketing managers have the role to organise the marketing mix in an appropriate manner. This report will analyse the marketing mix of Coles and will also analyse the way in which marketing strategies have been designed by Coles so as to gain competitive advantage over the rivals.
Coles is one of the biggest retailers in Australian supermarket established back in the year 1914. They have around 807 supermarkets all across Australia. It employees around 100,000 people and they along with the rivals Woolworths accounts for around 80 per cent of the Australian retail market (The conversation, 2016). They have revenue of around A$39.288 billion. This company has applied both traditional and digital marketing mediums so as to do marketing.
Marketing mix need to be designed on the basis of the capability of the firm and their ability to compete in the market. Since in Australian retail market is controlled by two companies hence it is not so difficult for Coles to market their products but at the same time they have to ensure that new entrants in the market cannot take market share from them (The Monthly, 2014). Marketing Mix for Coles is:
Coles deals in business of huge range of products. This includes liquor, general merchandise and many other ranges of products. The effectiveness of organisation of products mix by the company can be understood by the fact that in the last four years they have won more than 500 awards. In order to enhance its product’s effectiveness they continuously work on taste and quality. Their products have most of the time outperformed their rivals in the innovation tests. They are working with their suppliers to become the best in the food retailer market (Keith, 2012). This brand has also its extended arm in financial market and hence offers cars, credit cards, home and landlord insurance. The effectiveness of its organisation can be understood by the fact that they serve more than a billion with insurance policies, credit cards and debit cards. This huge product range allows them to have control in the market. At the same time their innovations will help them in doing profitable business in their future.
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