The following report would outline the discussion on the marketing strategies followed by the Coles. The main corporate objectives of the company are outlined and in addition to this, the different level of strategies followed by the Coles supermarket such as business-level strategies, corporate level strategies and functional level strategies would also be discussed in detail. These strategies have been achieved by the company for attaining customer satisfaction and the growth in the organization. The following report would also discuss the marketing strategies followed by the company for achieving the organizational goals and objectives in an effective and efficient manner.
Coles is the retail chain of the supermarket in Australia. The company is one of the subsidiaries of Wesfarmers. The main goal of the Coles is to provide the people of Australia an effective place to shop which is trustworthy and that delivers the high quality of the services to the consumers that hold high value and good corporate social support to the organization. The company was established in the year 1914 and it is headquartered in Melbourne. This company was founded by George Coles. The company has a total of 807 supermarkets in Australia. There is a total of 1,00,000 employees in Coles. The company faces major competition from another retail giant in Australia that is Woolworths. Woolworths and Coles together form the 80 per cent of the market share in the retail industry of Australia. The company has also established an online store that is called Coles Online which is the online shopping centre that is built to provide convenience to the customers 24 hours a day. The managing director of the Coles company is Steven Cain. The company had revenue of $39.288 billion in the year 2018 (Coles Supermarkets, 2019).
Coles Strategic objectives
There are certain strategic objectives followed by Coles Supermarkets in order to achieve long term success of the company and to achieve the competitive advantage of the company over other competitors in the same industry such as Woolworths, Aldi and other online retail stores such as Amazon, eBay etc. Some of the strategic objectives followed by the company are-
1.To deliver the quality products to the clients at the lower prices that can be easily afforded by the company.
2.To offer customers of the company better and fresh food to the customers through the best store networks to the customers.
3.Another objective of the company is to expand the retail stores of the company through the network of the formulating the strategic partnerships with other suppliers and the network builders and formulating the long-term relationships with other companies.
4.In addition to this, the company also has the objective to establish and formulate the extensive and positive work culture so that employees of the organization feel belonged towards the organization and towards other employees in the organization. The company aims to build a work culture of the adaptability and decisiveness in the organization (Coles Supermarkets, 2019).
Business Level Strategies Analysis
The business level strategy of the Coles is establishing the cost leadership and the differentiation strategy of the company. For differentiating its products with its competitors, the company uses its brand image. In order to maintain cost leadership in the organization, the company uses the strategy of minimizing its cost with the help of a superior supply chain. With the help of using these strategies, it is ensuring that the company offers value to its customers at the lowest possible costs. These activities would be helpful for the company to attain competitive advantage of the company over its competitors in long run.
Corporate Level Strategies Analysis
The corporate level strategy of Coles is to become the market leader in the retail industry in Australia. The company mainly focuses on identification of the services and investing in the services which provide value to the customers. The main strategy of followed by the company to become a market leader in the retail industry is diversification of the products and services of the company. Thus, this strategy is helpful for attaining the sustainable market position of the company in the retail industry. In addition to this-this strategy is helpful for gaining more growth opportunities for the organization.
Functional level strategy Analysis
The functional level strategy of the Coles is analyzed through its effective implementation of the current strategies adopted by the company. In order to the implement the above-discussed strategies of the company, Coles is using the strategy of employee engagement so that employees can feel belonged to the organization and they can effectively implement the strategies in the organization (Coles Supermarkets, 2019).
So, in the nutshell, it can be concluded that Coles is following all types and all levels of strategies which includes business level, corporate level and functional level strategies. These strategies are helpful for the organization to attain a competitive advantage over other competitors.
Coles Supermarkets (2019). Coles Supermarkets. [online] Coles.com.au. Available at: https://www.coles.com.au/ [Accessed 19 Feb. 2019].