Profitability Bakery Firms In Ebonyi State -Myassignmenthelp.Com

Question: Discuss About The Profitability Bakery Firms In Ebonyi State? Answer: Introducation Coles Bakery has been the proud winner of around 30 awards in the year 2014 according to the Royal Melbourne and Royal Hobart Fine Food Award. They have products ranging from stone baked Turkish bread to that of Light Rye Sourdough. Coles supermarket also sells Quinoa Pane Di Casa Rolls that is made out of 100 % flour. The products have no artificial additives or that of preservatives (Coles.com.au, 2018). They can be found at various stores that marketing them easily available to the customers. The pricing of Coles Bakery Loaves (600 g-680 g) has been dropped from that of $1.90 to the price of $ 1.80 so that they can easily be bought by people belonging to the lower strata of population. The pricing of banana bread along with that of cake loaves will be reduced by around 10 % to that of $ 5 each (Grimmer, 2017). The prices of branded products will also be decreased and Tip Top Raisin Toast Bread; price will be dropped to $ 3.50. The price of 500 gram Tip Top Caf Brioche Fruit Toast will be dropped to $4 and it will help the customers in saving around 30 percent. The marketing strategy of Coles Bakery revolves around that of lowering prices. It makes use of taglines like why pay more and Extra Value for you and me in order to cater to a wide range of consumers and increase the value that the customers get after shopping for the Coles Bakery. Coles Bakery made use of an interactive campaign in which the customers were asked about the reason for shopping at Coles and the responses of the customers were recorded. Coles also makes use of discount and various promotion schemes in order to attract customers (Uguru, Nnachi, Nkwagu, 2015). The reward program of Coles Bakery is one of the largest within Australia and there are around 5.5 million active users of the reward program. Most of the Coles Bakery Products are sources from that of Australian suppliers and 85 % of the total of bakery offer is made in Australia. Coles fosters close relationship with that of key primary industry producer. Coles boasts of Australia first sourcing policy that makes it popular among the local population. It also holds Meet the Buyer event throughout that of Australia that can help in attracting the local producers (Sinha Sheth, 2017). The vision of Coles Bakery is to build a team that can deliver supply chain excellence to all the customers. They made a new model in which the way of working with that of supply partners was crucial. A new Demand Team was brought in who can help in driving the forecasts and that of planning. Coles Bakery has created the Coles Nurture Fund (CNF) in order to provide help to the small Australian food producers for the purpose of innovation of their business. Coles Nurture Fund will be instrumental in allocating a $ 50 million over a period of five years in interest free loans that can help in the developing of new technologies. In the year 2015, Coles established a two year contract with that of Bundaberg Sugar that helped in supplying 20, 000 tones of sugar within a year. The private label sugar of Coles will now be 100 % grown in Australia. Coles prides itself in building long-term partnership with that of the suppliers (Armstrong, Adam, Denize, Kotler, 2014). The Coles Supplier Charter has been launched that lays out clearly in front of the suppliers regarding what the suppliers can expect after working with that of Coles. The Coles Supplier Charter refers to a seven point formal commitment that helps in sealing good faith with that of the suppliers. Coles is a superstore hence the customer relations are of crucial importance. The employees of Coles who work in the bakery sector are trained on continuous basis so that they can interact with the customers in the right manner and provide them with important information that can compel them to buy the product. Coles provides the employees with freedom so that they are pro-active and they find different ways that can increase the value of the bakery products in the eyes of the customer (Porral Stanton, 2017). The in-store experience of Coles bakery adds a new dimension to the shopping experience. Coles is a pioneer in the arena of providing leading customer service. Coles Bakery has also designed different programs for the employees like that of Retail Leaders Program and that of First Steps Program. The Coles Bakery Online has made the process of buying the products a lot easier. People can purchase the products whenever they want from the comfort of home. Coles wants to be known for its brand of fresh bread and will build more number of in-house bakery. A large number of stores will include bakery and it makes a plan of offering baked bread that is fresh at each of the stores. Streamlining of the process is made use of by Coles Bakery in order to cut the cost that can add value to that of the customer (Armstrong, Kotler, Harker, Brennan, 2015). Deploying that of mobile handhelds in the supply chain can give rise to multiple benefits that includes that of cutting the cost along with saving staff hours. The hand held device helped in meeting the needs that included that of signature capture and that of compatibility. When the bakery staff got the orders via email, the information could be entered in the accounting software of the route. Physical Evidence The new look of the stores features a Coles Kitchen that helps the shoppers in selecting from a wide range of takeaway options like that of fresh sandwich along with that of baguettes and sushi. Coles Bakery also has a huge range of the artisan breads. Lavazza coffee that is made in Barista is available at that of Coles Bakery and the stores also have new Coles patisseries that are sourced from that of Marrickville-based bakery (Brown, 2015). Coles Broadway is known for having a fresh juice bar. The Coles Bakery segment also has facilities for that of the elderly along with that of the disabled customers. They have wheelchair trolley in the majority of the stores in order to cater to the needs of the customers who are suffering from disability. Evaluation of the 8 Ps of marketing The Turkish Bread of Coles Bakery along with that of Light Rye Sourdough are products that are greatly favoured by the consumers. They help in attracting a large number of consumers because of their distinctive topping and glaze. The distinct flavour of the bakery helps in setting them apart from that of the competitors. The Coles Bakery Loaves are reasonable in price and people from low income groups do not hesitate in buying the products from that of Coles Bakery. The reduction in pricing has helped in increasing the consumer base of the products. Banana bread and that of cake loaves has undergone reduction in pricing and their prices make them greatly sought after products of Coles Bakery (Chuang Hu, 2017). Interesting taglines of Coles Bakery like that of why pay more helps in making the products endearing to the consumers. Interactive campaigns are held in which the customers are asked regarding why the products are favourite among the customers. The recorded responses are late r aired via Coles Bakery Online that highlights the distinguishing aspects of Coles Bakery. The Australia first sourcing policy of Coles Bakery has made it a hugely coveted brand among the Australians. Coles Bakery also holds Meet The Buyer event that helps in attracting the attention of the local producers. The Coles Nurture Fund is of increasing help for the local producers for the creation of new innovations. It helps them in bringing forth new technology that can make the products superior as compared to products of other supermarkets (Mokhtar, 2015). The two year contract with that of Bundaberg Sugar has increased the profitability of Coles Bakery. Different programs for the employees like that of Retail Leaders Program and that of First Steps Program enlightens the employees about the correct methods of marketing that can draw a large number of customers. The online service of Coles Bakery is greatly favoured by the buyers as the Australian consumers find it extremely convenient and they can purchase the products of their own volition from anywhere. The fresh products will be delivered to them very quickly and the customers will be able to enjoy the fresh products. Mobile handhelds used within the supply chain of Coles Bakery is of immense benefit in reducing the working hours of the staff (Mylan, Geels, Gee, McMeekin, Foster, 2015). Recommendations for each of the 8Ps Product Gluten free products that cater to the needs of the healthy customer The products should be delicious and it should be certified gluten free by that of the Gluten Intolerance Group of Australia Price Coles Bakery Loaves should be reduced further to that of $ 1.50 The price of Caf Brioche Fruit Toast should be dropped to $ 3. Promotion The local employees should be provided with special promotion like that of cupcake contest. Questions can be asked in relation to baking and after successfully being able to answer they can be treated with a free cupcake. It can provide dessert for an event that can help in increasing the popularity of the Coles Bakery Distribution Coles Bakery can collaborate with that of Dematic Supply Chain that can help in optimising the supply chain and increase the productivity of their business Partnership Coles Bakery can partner with that of Mackies that pioneers in manufacturing and having solutions for bakery and that of restaurants People The bakery supervisor should have a certificate in Foodservice Management that can help him in producing superior quality of food After every month the performance of the employees of Coles Bakery should be assessed Process Coles Bakery should make use of a wireless sensor that can warn the technical employees when a specific area in that of the bakery becomes warm or cold Physical Evidence The new stores of Coles Bakery should feature a design that is updated and have open ceilings Natural lighting can be made use of to beautify the interior of Coles Bakery Contemporary Issues affecting Coles Bakery Corporate Social Responsibility In the year 2013, on Australian Day Coles was instrumental in announcing the program of Red Kite that was a cancer charity fund supporting children. It raised $5 million for that of Red Kite that was funded by taking recourse to a 5 percent donation in relation to the sale of each loaf of Coles Brand Bread. Coles have provided support to that of Cancer Council Daffodil Day over a period of eighteen years. The money that was raised went to the Cancer Council Helpline. More than that of 7500 schools took part in the Coles Sports for the program of schools. Coles along with that of Robins Foods came together in order to foster the indigenous enterprise (Lee Vachon, 2016). Ten cent from the sale of the products of Coles supermarket goes to that of Coles Indigenous Food Fund. It invested in the horticultural products like that of commercial planting of that of bush tomato within the region of Central Australia. The Coles Indigenous Food Fund came into existence in the year 2001. It was established in order to promote that of native bush food. It helped in supporting the indigenous enterprise. The Fund helped in promoting that of native bush food and was instrumental in supporting the development of that of indigenous business. Investment was made in the arena of Acti-sol organic fertiliser for serving the purpose of bush tomato growers (Hanssens, Pauwels, Srinivasan, Vanhuele, Yildirim, 2014). They were able to improve the yield from that of half kilogram each plant to that of three kilograms. Coles has played a pivotal role in developing the Outback Spirit supply chain that is indigenous in order to boost purchase of that of Australian native bush food. Coles has partnered with that of Bravery Trust in order to provide support to that of the current along with former member of that of the Australian Defence Force. In the year 2014, Coles raised $ 5 million for that of the Trust (Coles.com.au, 2018). The generosity of the customers helped in raising a sum of more than $ 5.2 million over a period of three years. It helped in providing financial assistance for the food along with utilities of the Australian Defence Force. Environmental Concerns Coles wants the consumers to use the reusable bags and it was instrumental in donating 5 cents to that of Junior Land care after the selling of shopping bags. The funds that were raised helped in supporting a garden grants program for that of the schools. It encouraged the students in learning more about the environment. Coles was instrumental in supporting Guide Dogs Australia by collecting the dogs instore (Fan, Lau, Zhao, 2015). It provided useful service in training the guide dogs across that of Australia. Coles recycled around 60 % of all the waste that included that of cardboard and metal. It is also an illustrious member of that of Australian Packaging Covenant that sets guidelines relating to packaging (Patil Bach, 2017). Bottled Spring Water was produced by that of Mountain H20 that is 40 % lighter on account of innovative bottling process. Ethical Concerns In the year 2011, Coles established partnership with that of the Department of Education and Workplace Relations in order to boost indigenous team members who are providing valuable service in Coles. Coles has been successful in funding 405 new roles and has been instrumental in providing a support program. It also initiated a program that helped in phasing out sow stalls because the customers in the modern age are conscious of welfare issues relating to pig farming (Bahadir, Bharadwaj, Srivastava, 2015). Coles is reputed for being the first supermarket that has adopted the eco Plastic technology in relation to the meat trays that are used for that of pre-packaged beef. The trays have been designed by that of Plantic Technologies that contain 80 % of the renewable content. It makes use of 25 % less energy as compared to that of conventional plastic. Coles provides opportunity for green bag recycling for that of the customers (Aras, Syam, Jasruddin, Akib, Haris, 2017). Redcycle is a recycling program that is supermarket-based that provides opportunity to the customers to collect empty bread bag along with plastic and bring them to the nearest drop off point of Coles (Bahadir, Bharadwaj, Srivastava, 2015). They are afterwards delivered to the manufacturing partner called Replas where they are turned into that of outdoor furniture for the primary schools of Australia. Advance in Technology Technology has affected Coles Supermarket to a great extent. It was instrumental in launching of an online technology system that has helped in supporting the online shoppers and has led to the growth of Coles Bakery. Coles bakery is growing more than that of 20 % within a year on account of the changes in technology within an organization (Aras, Syam, Jasruddin, Akib, Haris, 2017). The IBIS World Research has clearly shown that the online bakery sector of Australia is considerably small however it is growing at a rapid pace and it has registered 15.3 % growth in the previous five years. Globalisation Globalization has helped in the raising of the Coles Bakery within the market. Globalization refers to the process of abroad integration that result in interchanges of the products and ideas. Retail along with consumer service companies have started business within Australia that have affected the business model of Coles (Armstrong, Adam, Denize, Kotler, 2014). They provide high quality product of low prices that is negative for the development of Coles. The pricing of Coles has to be evaluated so that it can survive in the competitive market of Australia. References Aras, M., Syam, H., Jasruddin, J., Akib, H., Haris, H. (2017). The Effect of Service Marketing Mix on Consumer Decision Making. In International Conference on Education, Science, Art and Technology. (pp. 108-112). Armstrong, G., Adam, S., Denize, S., Kotler, P. (2014). Principles of marketing. Pearson Australia., 118-24. Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2015). Marketing: an introduction. Pearson Education., 178-82. Bahadir, S. C., Bharadwaj, S. G., Srivastava, R. K. (2015). Marketing mix and brand sales in global markets: Examining the contingent role of country-market characteristics. Journal of International Business Studies, , 46(5), 596-619. Brown, B. S. (2015). A Multiple Discriminant Analysis Prediction of Performance in Principles of Marketing. In The 1980s. A Decade of Marketing Challenges , (pp. 112-115). Chuang, C. C., Hu, F. L. (2017). Experiential Marketing Strategy: The Empirical Study of 85 C Bakery Cafe. International Research Journal of Applied Finance, , 8(3), 129-142. Coles.com.au (2018). Coles In-Store Bakery | Coles. [online] Coles.com.au. Available at: https://www.coles.com.au/our-range/our-products/bakery [Accessed 24 Jan. 2018]. Fan, S., Lau, R. Y., Zhao, J. L. (2015). Demystifying big data analytics for business intelligence through the lens of marketing mix. Big Data Research,, 2(1), 28-32. Grimmer, L. (2017). Is it so hard to say sorry? Revisiting image restoration theory in the context of Australian supermarkets. Asia Pacific Public Relations Journal,, 18, 17-32. Hanssens, D. M., Pauwels, K. H., Srinivasan, S., Vanhuele, M., Yildirim, G. (2014). Consumer auditing metrics for guiding marketing mix decisions. . Marketing Science,, 33(4), 534-550. Lee, K. H., Vachon, S. (2016). Supply Chain Sustainability Risk. In Business Value and Sustainability . Palgrave Macmillan UK, (pp. 245-280). Mokhtar, N. F. (2015). Internet marketing adoption by small business enterprises in Malaysia. International Journal of Business and Social Science,, 6(1). Mylan, J., Geels, F. W., Gee, S., McMeekin, A., Foster, C. (2015). Eco-innovation and retailers in milk, beef and bread chains: enriching environmental supply chain management with insights from innovation studies. Journal of Cleaner Production,, 107, 20-30. Patil, D. D., Bach, C. (2017). Marketing-Mix For Strategy Building. Marketing,, 4(4). Porral, C. C., Stanton, J. L. (2017). Principles of marketing. 90-95. Sinha, M., Sheth, J. (2017). Growing the pie in emerging markets: Marketing strategies for increasing the ratio of non-users to users. Journal of Business Research., 80-90. Uguru, L. C., Nnachi, R. A., Nkwagu, L. C. (2015). Cost Implication of Packaging and Labeling on Profitability of Bakery Firms in Ebonyi State, Nigeria. . European Journal of Business and Management,, 7(12)