Complete strategic analysis of Coles supermarket Supermarket has been a buzzword in current business scenario and Cole forms part of one of the largest supermarkets in Australia. Today people are realizing the need for fresh foods and other consumer More Supermarket has been a buzzword in current business scenario and Cole forms part of one of the largest supermarkets in Australia.
It has supermarkets across Australia, supermarkets in New Zealand, and also 22 retail stores in India which are the joint venture agreement with Indian supermarket chain Tata.
Woolworths has listed as a strong financial performance Coles and external environment analysis with a 3. We, as passionate committed retailers, understand and lead our customers through excellence and a deep knowledge of our products and services and the world we live in.
The key strategic priority for Woolworths is to build up a multi-option retailing in term of low price, good quality products and services, in stores experience to meet customer requirement.
To achieve their mission, Woolworths is following its four strategic priorities, including: Extend leadership in food and liquor — Re-establish marketing campaign of adding values for stakeholders and boosting business growth in order to expand Australia market share by using reinvigorating progress to Australian retailing industry with a concentration on value, in-store services, and fresh and value products.
Put in place the enablers for a new area of growth — Provide step move in profitability through effective supply chain and focus on fuel growth as well as customer centricity — Improve long-term relationship with shareholder and add more value for them by investing more in business.
Woolworths also has its set of values, which are: External Analysis It is important for Woolworths to understand and analyze the influence of external environment on its profitability and achievement of business strategies.
Moreover, identifying its position in retailing industry allow Woolworths to adapt and use their competitive advantages in order to succeed.
The company should focus on implementing their strategy based on the five force analysis. Bargaining power of suppliers According to Porterthe higher important suppliers are, the stronger they are.
The main reason is the considerable amount of retailing market share in Australia and New Zealand and the huge number of products being sold to the industry.
Threat of new retailers The threat of new entrants for Woolworths is considered not significantly because of several reasons. Firstly, setting up the business with a huge number of stores and excellence quality enough to compare with the organization and its competitors such as Coles, needs a lot of amount of start-up capital, not only for fixed facilities, but also for operating the business.
Furthermore, Woolworths and its existing competitors are dominant players with variable accesses to distribution channels and trusted brands in retailing industry. Possible new entrants have to face with the risks of losing their investment and also the high competitive in the industry. Substitute products are offered to all of the Australian major supermarkets, so hence, the supermarket should come up with innovative and competitive strategies to attract their customers and build brand reputation.
A competitive price strategy, as Hill et al. Their competitor Coles also provided the rewind price strategy for consumers. The intensity of those competitors is forcing the company continuously creating competitive and effective strategies in order to differentiate themselves from competitors.
At the end of the financial year, Woolworths operated 3, stores across Australia and New Zealand, and employedpeople.
It also has been one of the most trusted brands in retailing industry. Woolworths found their core competencies by using more experienced employees, more in-store services and more values for customers, rather than their major competitors.
Woolworths Supermarket, for example, has more efficient workers compared to its major competitor Coles. Instead of using young workers as Coles, the company prefers to employ middle-aged experience workers and focuses on training and developing employees.
Together with reducing overall business costs, Woolworths has reached a 7. For more information, five year financial report summary will be showed in Appendix 1. At the end ofWoolworths was voted the sustainable retailer of the year by BRM AMP Australian retailer and ranked as the largest online retailer in Australia and New Zealand in term of business size, range of products, services and prices.
Better relationship with suppliers Woolworths has focused on developing strong long-term relationships with producers and suppliers. Some pricing action initiated by other retailers, for example private label milk reductions, has caused considerable concern among suppliers that long-term profitability will be impacted.Andrew Wood (CEO) John Grill, AO (Chairman and Non Exec.
Director, founder) Ron McNeilly (Deputy Chairman and Lead Independent Director) Erich Fraunschiel (Non Exec. Director).
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Macro Environmental Factors Affecting The Industry Marketing Essay. Print Reference this.
Macro-Environmental factors affecting the Industry. Examination of Coles’s external environment such as socio-cultural trends as well as the deteriorating economic climate had been conducted to gain understanding of current industry trend.
The analysis of the external environment affecting the Australian retail and Woolworths is carried out and based on the analysis, it is analysed that the external environment in the form of political and environmental conditions are affecting the performance of Woolworths directly.
Coles Supermarket, Asda etc that are competing against each. External and Internal environment - 5 - Current competitive strategies - 8 - will find and recommend the reasonable strategies and the strategies management accounting techniques that fit for the Coles Company.
External and Internal environment More about Coles Analysis Essay. Nat King Cole Essay Words | 10 Pages; Coles .