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Branding Sales Revenue In Coles Supermarket

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Question:

Discuss About The Branding Sales Revenue In Coles Supermarket?

 

Answer:

Introduction

Branding serves as a powerful tool that facilitates in attracting its target consumers to purchase specific products. In a developed nation like Australia, supermarket industry is positioned as among the major industries that basically contributes to the economic development. Consumer’s decision making and branding plays a major role in retail industry that can increase sales revenue and can further impact Cole’s supermarket within the market (Armstrong et al., 2014). Sales revenue can get increased if the retailers tend to be highly associated in manufacturing a product differentiation. In addition to a particular brand name, branding is also composed of effective packaging, products, advertising, and promotion along with its total presentation that grabs attention of a huge consumer base. Branding serves as a means to differentiate between its all the products and such differences might be rational, functional or tangible associated with product performance of the brand that can further increase a company’s sales revenue. Sales revenue can get increased based on the impact of branding on consumers of a retail company (Bailey, 2017). If the consumers of the retail company focus on associating brand with the value of a product they tend to purchase the same product. Considering the same, Cole’s supermarket focuses on brand building so that all its target consumers get attracted towards the retail organization and its products. Retail companies like Coles supermarket greatly focuses on brand building so that it can increase importance and sales of its products that can bring in high revenue. It can also be gathered that attaining consumer attention through suitable branding of its products serves as a major objective of the sellers to increase sales revenue of these products in the retail market (Bailey & Bailey, 2016).

 

Problem Statement

Brand is serves as the most vital factor for the businesses in the current days in order to improve the sells along with maintaining goodwill among all its consumers. Coles is positioned as a renowned brand in Australia (Ball et al., 2015). Moreover, brand image has a considerable role that impacts its sales revenue. Supermarkets directly started to source materials from the manufactures to utilize within “own” brand along with generic products that came to compete successfully with branded products. Efficiency of the sales promotion might be investigated by decreasing the sales bump in the promotion duration into increase in sales because of brand shifting, acceleration of purchase time and stockpiling (Biddle, 2016). Such results depict that more than 84% of increased sales as promotion can be derived from brand switching. Brand can either increase or decrease organization’s sales. Brand served as an asset for any business to perform in a better manner. As Coles is not just a supermarket in Australia, as Aldi and K-mart are its major competitors within the retail sector within Australia. For such reasons, sustaining a trusted brand image among recognized competitors is a challenging work (Bogomolova, Szabo & Kennedy, 2017). As within the sectors like supermarket, brand maintains a significant focus on consumer buying behavior that has a considerable impact on sales revenue. For this reason, the current research focuses on analyzing impacts of branding on Coles sales revenue.

Research Objectives/ Questions

The aim of the current research is to analyze the impacts of branding on sales revenue of the Coles supermarket.

The objectives of the current research that are to be addressed are explained below:

  • To recognize the perceptions of consumers for the brand
  • To reveal the previous sales revenue of Coles supermarket
  • To realize the recent brand image of Coles supermarket
  • To develop a research survey that facilitates in investigating the effect of branding on sales revenue

Justification of the Project

The current research is focuses on making great attempts in explaining the impacts of branding on sales revenue of the Coles supermarket (Burch & Goss, 2011). This research will has high implications for the marketers of Cole’s supermarket in developing highly effective branding strategies that can increase sales revenue of the company. In providing such implications, the recent research will explain the fact that consumers require focusing on the product value before making a product selection. However, a company focuses on focusing on the brand building concept so that the customers get attained in the company or towards a particular product (Chaudhuri & Holbrook, 2013). The research will also explain that such competition level is present in the market that tries to work on several aspects that can facilitate the company in attracting new consumers along with retaining the existing consumers. The paper will also explain that the consumer’s attempts to select better quality that is generally assumed with attaining increased help of branding and goodwill of the company. Considering the same, taking the example of Coles Supermarket the research will also focus on brand building so that relevance of a specific product is increased and sale of goods takes place (Chimhundu, McNeill & Hamlin, 2015). The paper will explain the aspects based on which Coles supermarket can improve branding strategies to increase their sales revenue. The paper will focus on analyzing the mind of consumers along with decision making on a product based on the branding concept.

 

Expected Research Outcome

The research results are intended to offer an analytical structure along with evaluating the impact of branding on sales revenue of the Coles supermarket in Australia. The results of the research will facilitate the super marketers to develop effective branding strategies more specifically will enable marketers of Coles Supermarket to improve, evaluate and develop effective competitive strategies (Dwivedi & Merrilees, 2016). Such strategies can further facilitate the company in attaining increase sales revenue with improving company’s performance along with maintaining competitive advantages among others. This will also facilitate the supermarket marketers to understand the overall picture of the scenario and facilitate the marketers to perform better in case branding strategies are not that efficient in generating enough sales revenue (Dwivedi & Charlin, 2016).

All the developed research questions as explained previously is deemed to be answered based on the empirical evidence within the literature review sections, data collection along with data analysis which will be used in the current research. The anticipated results of the research will be considered as the solutions of the recognized research problem in the current research proposal (Ghalebeigi, 2015). In addition to the same, the current research will not only be helpful for the marketers of Coles supermarket, it will also serve as an advantage for the consumers those rely on branding for predict selection that can supervise the reasons for sales revenue increase in a better manner.

Conceptual Framework and Research Hypothesis

The major objective of the current research is to carry out this research based on the below described conceptual framework (Bogomolova, Szabo & Kennedy, 2017). Considering the elements of the conceptual framework, the paper will focus on analyzing the impact of branding strategies of Cole’s supermarket on its increasing sales revenue. In the current research sales revenue is considered as the dependent variable and independent variables includes branding (brand image and advertising).

Figure 1: Conceptual Framework

(Source: Authors Creation)

Brand is serves as the most vital factor for the businesses in the current days in order to improve the sells along with maintaining goodwill among all its consumers. Coles is positioned as a renowned brand in Australia (Ball et al., 2015). Moreover, brand image has a considerable role that impacts its sales revenue. Supermarkets directly started to source materials from the manufactures to utilize within “own” brand along with generic products that came to compete successfully with branded products. Efficiency of the sales promotion might be investigated by decreasing the sales bump in the promotion duration into increase in sales because of brand shifting, acceleration of purchase time and stockpiling. Brand image is deemed to be directly linked with revenue performance of a company (Bogomolova, Szabo & Kennedy, 2017). This is for the reason that brand image can be explained as the marketing and financial values associated with a brand’s strength within the market that encompass awareness of brand name, brand loyalty, perceived brand quality along with brand associations. This will also facilitate the supermarket marketers to understand the overall picture of the scenario and facilitate the marketers to perform better in case branding strategies are not that efficient in generating enough sales revenue. Brand image can be related with the way in which consumer reacts to the brand’s aspects of marketing mix in comparison to the factious alternative within the product category. Increasing revenue through enhancing brand image is focused on two major aspects that include selecting brand identities such as logo and name along with developing certain supporting marketing initiatives that links all the identities (Bogomolova, Szabo & Kennedy, 2017).

Branding on packaging is deemed to have an increased impact on consumer selection of products within the retail environment. Branding on packaging of the retail products is gathered to serve two important purposes such as guiding consumer’s attention towards certain brands and increasing sales revenue through attaining attention of the consumers. It is evident that branding strategies of Cole’s supermarket can be highly effective on influencing consumer behavior through increasing recognition towards certain brands (Bogomolova, Szabo & Kennedy, 2017). Increased attention towards a particular brand or product is deemed to develop high purchase intention of the consumers that can increase sales of that particular product. Branding serves as a process of developing a communication bridge between the sellers and the purchasers. Branding strategies developed by the retail companies also involves constructing trust and confidence relationship that makes the consumers loyal to the company despite of available substitute products or prices (Bogomolova, Szabo & Kennedy, 2017). Brand building is a highly effective trend presents in the market those facilitators a company in improving its participation. Target consumers tend to focus on the branding concept as iota involves maintaining increased control and dominance in the marketplace over its existing competitors.

Effective brand management facilitates a company in developing higher consumer base for the company that can further increase sales revenue of the company amidst its competitors and gaining mind positioning among its consumers (Bogomolova, Szabo & Kennedy, 2017). Brand management requires maintaining brand awareness so that its consumers can attain enough product knowledge offered by the company and then go for purchasing any product. Considering the same, it can be stated that followed by brand awareness, increased focus on brand image is also needed that can help a company in effective branding of its products among the consumers and generating increased sale revenue (Bogomolova, Szabo & Kennedy, 2017).

Research Hypotheses

In consideration to the problem statement identified in the research along with focusing on the research objective, the following research hypotheses has been developed for testing through the current research.

  • H0: Developing effective branding strategies by Cole’s supermarket can improve its sales revenue. There is positive relationship between the branding strategies and improvement of sales revenue.
  • H1: Developing effective branding strategies by Cole’s supermarket cannot improve its sales revenue. There is no positive relationship between the branding strategies and improvement of sales revenue.
 

Methodology

The research methodologies that will be employed in analyzing the impacts of branding on sales revenue of the Coles supermarket are explained below:

Literature review: Literature review research methodology will be employed in the current research that will be focused on gathering data from previous sales records of Cole’s supermarket that will be employed as a secondary data in data analysis (Gupta, 2014). In addition to that numerous previous journals on brand image of Cole’s supermarket and its sales revenue pattern will also be employed. Other than these different peer reviews along with previous research reports on Coles supermarket’s brand and sales revenue factors, previous surveys and distinct associated books will be brought to use in analyzing data (Zarkada-Fraser & Fraser, 2015). Literature review research methodology is employed in the current research as this facilitates in conducting relevant research concerned about certain influences on the impact of branding strategies on increasing sales revenue of Cole’s supermarket (Jary & Wileman, 2016). A detailed analysis of previous papers will be carried out that can offer a critical look on the present research important for making future research implications on branding and its impact on increasing sales revenue of Coles supermarket.

Data Analysis: For analyzing the collected data in the current research two major techniques will be employed such as qualitative and quantitative data analysis. Qualitative data analysis can be used as a technique in which different questionnaire will be used for surveying the consumers regarding their perception on the products of Coles Supermarket (Jones, 2017). Qualitative data analysis will be conducted in the current research for the reason that it offers a broad methodological approach which uses several research methods. These methods analyze the reasons of decision making on a research problem.

In addition, quantitative data analysis technique will employ previous data that will be explained through representation in graphs and charts (Lawrence & Dixon, 2015). Quantitative research is used in the current research for it is deemed to gather huge amount of relevant data. This analysis is applied to the raw data so that displaying of the research can be done in a better manner, particularly for those that understand the area within which statistics belong. Numerical data analysis in quantitative data analysis financial the researchers to evaluate data that is unavailable to the researcher. This analysis will also facilitate the researcher to organize and summarize along with developing the data for others use (McDonald, 2015).

Organization of the Research

The organization of the current research is explained under:

  • Chapter one of the current research will prepare an introduction of the study that will include research purpose, background, scope, context and structure of the research.
  • Chapter two of the research will focus on preparing a detailed literature review based on previous researches.
  • Chapter three of the research will be focused on explaining the detail of methodology that will encompass data source, conceptual framework, data alignment along with data analysis.
  • Chapter four of the current research will be focused on elaborating the result and the research analysis.
  • Chapter five will include conclusion based in the completion of the research that will encompass major strategic adoption, future research along with necessary recommendations.

Gantt chart

Task

Week 1

Week 2

Week 3

Week 4

Week 5

Week 6

Week 7

Week 8

Week 9

Selection of topic and search for justification

 

 

 

 

 

 

 

 

 

Constructing literature

 

 

 

 

 

 

 

 

 

Selecting appropriate methods

 

 

 

 

 

 

 

 

 

Data collection

 

 

 

 

 

 

 

 

 

Data analysis and representation

 

 

 

 

 

 

 

 

 

Reviewing the outcomes

 

 

 

 

 

 

 

 

 

Conclusions and recommendations

 

 

 

 

 

 

 

 

 

Submitting draft of the project

 

 

 

 

 

 

 

 

 

Printing and final submission

 

 

 

 

 

 

 

 

 

 

Project Budget and its Justification

The budget for the current research is anticipated to be $5,800 in order to complete the same within a particular time frame (from week 1 to week 9) as mentioned within the Gantt chart. This budget was allocated for the purpose under:

The literature review: In order to complete the current project, it is needed to utilize the textbooks, online resources and published journals that are not available free of cost (Melnyk & Bijmolt, 2015). The overall cost is anticipated to be approximately $1,400.

Data Collection process: In consideration to questionnaires and surveys, it can be stated that these can be sent to the respondents by post or in person (Miranda, Konya & Havrila, 2015). E-mail did not serve to be effective method for gathering relevant information due to the reason that it might remain unanswered within the junk mail box. For this reason, it is highly effective to distribute questionnaires/surveys in person along with sending surveys through posts might serve as an option if it is highly inconvenient to travel for the respondents (Van Heerde, Gupta &Wittink, 2013). Expenses related with data collection, posting, travelling along with printing can be anticipated to be approximately $2,400.

Data Analysis: The research will consider analyzing collected data through using charts; tables and figures firm the private as well as the government sectors (Mortimer, 2015). In addition, payment has to be made for collecting some of these data and accessing from the paid websites. Considering the same, expenses in attaining such access to the data is anticipated to cost around $2,000.

 

Reference List

Armstrong, G., Adam, S., Denize, S., & Kotler, P. (2014). Principles of marketing. Pearson Australia.

Bailey, M. (2017). Absorptive Capacity, International Business management Knowledge Transfer, and Local Adaptation: Establishing Discount Department Stores in Australia. Australian Economic History Review, 57(2), 194-216.

Bailey, M., & Bailey, M. (2016). Marketing to the Big Middle: establishing Australian discount department stores. Journal of Historical Research in Marketing, 8(3), 416-433.

Ball, K., McNaughton, S. A., Le, H. N., Gold, L., Mhurchu, C. N., Abbott, G., ... & Crawford, D. (2015). Influence of price discounts and skill-building strategies on purchase and consumption of healthy food and beverages: outcomes of the Supermarket Healthy Eating for Life randomized controlled trial. The American journal of clinical nutrition, 101(5), 1055-1064.

Biddle, I. (2016). The Wesfarmers/Woolworths duopoly war: The Bunnings vs. Masters battle. Busidate, 24(3), 3.

Bogomolova, S., Szabo, M., & Kennedy, R. (2017). Retailers' and manufacturers' price-promotion decisions: Intuitive or evidence-based?. Journal of Business Research, 76, 189-200.

Burch, D., & Goss, J. (2011). Global Sourcing and Retail Chains: Shifting Relationships of Production in Australian Agri?foods. Rural Sociology, 64(2), 334-350.

Chaudhuri, A., & Holbrook, M. B. (2013). The chain of effects from brand trust and brand affect to brand performance: the role of brand loyalty. Journal of marketing, 65(2), 81-93.

Chimhundu, R., McNeill, L. S., & Hamlin, R. P. (2015). Manufacturer and retailer brands: is strategic coexistence the norm?. Australasian Marketing Journal (AMJ), 23(1), 49-60.

Dwivedi, A., & Merrilees, B. (2016). Australasian Marketing Journal.

Dwivedi, A., & Charlin, B. (2016). Holistic consumer evaluation of retail corporate brands and impact on consumer loyalty intentions. Australasian Marketing Journal (AMJ), 24(1), 69-78.

Ghalebeigi, A. (2015). Option Contracts for Super marketingFruit Supply Chains: Theory and Practice (Doctoral dissertation, Victoria University).

Gupta, S. (2014). Impact of Sales Promotions on When, What, and How Much to Buy. Journal of Marketing Research, 25(4), 342-355. doi:10.2307/3172945

Jary, M., & Wileman, A. (2016). Retail Power Plays: From Trading to Brand Leadership. Springer.

Jones, R. (2017). Branding: A Very Short Introduction. Oxford University Press.

Lawrence, G., & Dixon, J. (2015). 11. The political economy of agri-food: Supermarkets. Handbook of the International Political Economy of Agriculture and Food, 213.

McDonald, P. W. (2015). Brand gravity®: why line extensions of national brands attract one another and line extensions of store brands repel one another: a thesis submitted in fulfilment of the requirements for the award of the degree of Doctor of Philosophy from Macquarie University.

Melnyk, V., & Bijmolt, T. (2015). The effects of introducing and terminating loyalty programs. European Journal of Marketing, 49(3/4), 398-419.

Miranda, M. J., Konya, L., & Havrila, I. (2015). Fine Tuning Customer Satisfaction to Prevent Shopper Attrition. In Assessing the Different Roles of Marketing Theory and Practice in the Jaws of Economic Uncertainty (pp. 152-156). Springer, Cham.

Mortimer, G. (2015). Move over Aldi, Lidl may be next for Australian market. The Conversation, (15).

Van Heerde, H. J., Gupta, S., &Wittink, D. R. (2013). Is 75% of the sales promotion bump due to brand switching? No, only 33% is. Journal of Marketing Research, 40(4), 481-491.

Zarkada-Fraser, A., & Fraser, C. (2015). Integrating social and economic orientated marketing: A study of retail management. In Proceedings of the 2000 Academy of Marketing Science (AMS) Annual Conference (pp. 219-223). Springer, Cham.

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