Marketing Plan of Coles

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Coles supermarket is retail supermarket providing consumer services. The supermarket was established in 1914 having headquarters in Hawthorn East Victoria, Australia. The supermarket was firstly established in Collingwood, Melbourne by the founder “George Coles”. The supermarket has 807 branches in all over Australia. Coles has also re-branded the supermarket and named it BI-LO. To provide more convenience to its customers, Coles has started its online store, “Coles Online”. The company registered their slogan originally as “Nothing over 2/6”, which was changed in 1980 as “You’ll find the best value is at Coles New World”. The company have the practice to change the slogan as the market is updating and the services provided by the company. Coles has done its branding on seven levels, their private branding as follows:

Coles: The simple Coles range of the supermarket are providing the mid-price range of products. The designing of the products is done to match other branded products with the slogan “You’ll love Coles brand.

Coles Smart Buy: In this range, the company is supplying household essentials and grocery products packaged in plain white and red accented packaging to be recognized easily.

Coles Finest: A premium range of products in these ranges supplying Gourmet food. The food is of high quality and a little expensive.

Coles green choice: To perform the corporate social responsibility the supermarket has launched the household products which are environment-friendly also the profits generated out of this range will be donated to make Australia clean.

Coles organic: In this product range, the company ensures that the products must be processed without the use of artificial chemicals, fertilizers, pesticides or herbicides which are prohibited by the official certified organization.

Coles simply less: This product range is for health-conscious customers, the products having less fat ingredients, salt and sugar levels. The health range of the products with the meal replacement shakes.

Coles Simply Gluten-free: The supermarket has launched the range of 40 products specially designed for the customers who are gluten intolerant.

Mix clothing: The Coles branded range of clothing mostly for women and children. The clothing range of Coles is not available in all the stores in Australia.
The different range of Coles, favourable to various needs and preferences of the customers is the major marketing strategy of the company which is creating a major impact on their customers. Coles is consistently improving its supply chain to maintain the high distribution level to save time and improve the management of the products and services provided. Thus, the marketing mix of Coles includes 7 P’s, which are as follows:

Product:  Coles is providing the high range of products having a variety of baby products, bakery, dairy, deli, fresh fruits and vegetables, mobile phones, gift cards, liquor, meat, and the special range of gluten-free products. The business undertaken by Coles is well diversified, which are segmented as Coles supermarket, Coles online, Coles liquor, Coles express, Coles financial services and spirit hotels.
Coles has also launched its various brands of different industries such as Graze Grass- Fed Beef, BonSucro sugar, Spirit hotels. The liquor segment of the company providing imported wine, beer and spirits. And the financial services various kind of insurance services which includes insurance for Home, Car, life and landlord. Even the company provides credit cards to its customers.

Pricing: Coles is the market leader in terms of pricing of products. The strategy is to provide high-quality products at lower prices. The company has cut down the cost of products by providing the basket of goods, which reduced the average cost of products and provide a competitive advantage in the market. Coles have recorded the decline in their prices over 6 years providing the savings to the natives of Australia. Even Cola express has launched their everyday value pricing for the daily used products and the special discounts provided to customers on occasions such as Christmas and New year. The strategy of the company holds the existing customers by attracting them with various strategies. For example, the loyalty points provided to the customers, on the repeated purchases done by the customer from Coles stores, the one feature of the loyalty points is that the customer can save up to $10 on redeeming of 2000 flybuys points collected by the customer on the insurance policies. The integration of different segments of the business has been done to create more impact on the company.

Place: the distribution channel of Coles is very wide, even they are still working on their supply chain management to provide more quality at less cost. It has more than 200 stores all over Australia. The net space of Coles in the market has been increasing with the growth rate of 2-3% per annum. The supermarket has adopted an open market style. To reach a wide customer base, Coles has started its business on the online platform. Where the customers can order anything, which will be delivered in the reasonable time depending upon the type of the product, as the food or fruits are ensured to be delivered in a specified time transported in the temperature controlled vans.

Promotion: Coles ensures high-quality products at reasonable prices. The value of the customers for the company has also be shown in the taglines of the company. such as “Why pay more”, “Extra value for you- and Me” and “Cheap groceries”.

Physical evidence: to create more impact on the customer and make a good experience for them, Coles has launched 200 plus stores in Australia. The layout of the store has been designed in such a way, that it is easy and convenient for the customers.

People: to maintain good relations with the customers, Coles is providing the time to time training to their employees. the training programs of Coles are Retail leaders program and The First Steps program.

Process: Coles is working to improve the supply chain to deliver more utility to their customers.

References:
Coles Marketing Mix (4Ps) Strategy | MBA Skool-Study.Learn.Share. (2019). Retrieved from https://www.mbaskool.com/marketing-mix/services/16831-coles.html
Coles Supermarkets. (2019). Retrieved from https://www.coles.com.au/
Marketing Strategy Analysis of Coles Supermarket. (2019). Retrieved from https://myassignmenthelp.com/free-samples/marketing-strategy-analysis-of-coles-supermarket

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