1. Introduction

Since its establishment 90 years ago, Coles has developed itself to be one of the

pioneering companies in the Australia’s retail industry. George Coles the founder of Coles

Supermarket has a key influence in the early Australia’s retail industry (Deloitte, 2012).

George the son of a retailer travelled to the United States in the early 1900’s to view and

observe the retail practice. He returned to Australia and established the first retail practice

along Smith Street; Collingwood, Melbourne. Over time the retail stores grew in number and

soon they became famous for their slogan ‘nothing over 2/6’. The first Cole variety store was

opened in 1927, and in 1935 the company listed on the Melbourne Stock exchange. The

company became a leader in the Australian retail industry in offering value to customers. The

first Coles supermarket was opened up in 1960 in North Baldwyn, Melbourne, and 13 years

later, in 1973, the company achieved its goal of establishing a retail supermarket in every

Australia’s capital city (Gunasekaran, 2008).

In 1985, Coles Myers limited was established after Coles supermarkets merged with

Myers Emporium limited through a cash offer of $918 million. In July 2007, Wesfarmer’s

purchased Coles supermarkets for a cash offer of $22 Billion. Myer was de-merged from the

Coles business in 2005 to private equity business, and floated as a listed company in 2009.

Today the company still continues with its tradition of Australian traditional food retailing,

employing over 10,000 people, who collectively carry out transactions amounting to 18

million per week. Cole’s supermarkets are one of the two supermarket chains operating in

Australia (Gunasekaran, 2008).

There are about 140,000 retail businesses in Australia, contributing about 4.1% to the

GDP. The retail industry employs about 10.7% of the total employment in Australia. The

grocery retailers in store based sales accounted for 51% of the sales in 2012, with the non-

stores retailers accounting for 495 of the retail sales (Coles, 2011). The industry grew by 2%

1

in 2012 in the wake of low customer confidence. Cole supermarkets have over 742 stores all

over Australia, the total sales of the retail supermarkets increased by 4.2% in 2010 to $30

billion. This means that Cole Supermarkets controls about 31% of the market. This puts it in

second place behind the market leader Woolworths at 40%. On the financial period of 2011-

2012 the company generated revenues of $23.6 Billion (Deloitte, 2012).

Over the past 5 years there have been significant developments in the grocery

industry. There has been an entry of new players in the industry. Costco has entered the

market while ALDI has expended since its entry in 2001. The recent changes in the grocery

markets are occasioned by the increase in the number of online customers. Customers

increasingly prefer to shop online than in the traditional methods (Deloitte, 2012). In

response to the cost of living that were affecting consumer due to the increase in global fuel

prices, in 2008, the links between the grocery industry and fuel industry has normalised. In

2008, the Australian government commissioned the Australian competition and consumer

commission to regulate the industry. The trade practices act was recast as the competition ad

consumers’ act in 2010, and this was followed by several amendments of policy and

regulations in the years that followed. Supermarkets in the industry have developed a new

marketing and pricing strategies (Nenycz-Thiel, 2012).

This essay is a strategic management analysis on Coles supermarket including

external, industry and internal analysis of Coles followed by the identification of Coles’

strategic features, strategy implementation and some predicted key challenges facing the

company. The essay will then be concluded by some suggested recommendation for Coles in

the future.

2

2. External analysis

2.1. Macro-environmental factors

2.1.1. Political factors

There have been significant changes in the political and legal atmosphere in the last

five years that will affect the operations of retailers in the industry (Plunkett, 2008). The

federal government developed the Australian Competition and Consumer Commission’s

(ACCC), which is regulating the industry (Tootill, 2012.). The ACCC has introduced various

policy changes that will open up the industry to competition. These among the various

legislative changes that include tax and regulatory environment are factors that Cole should

take into consideration when formulating strategies.

2.1.2 Demographic factors

Australia’s population grew by about 1.8% in 2012; most of the population lives in

urban areas. The high density population areas are the urban centres. Australia’s population

comprises of the white people and the indigenous populations (Deloitte, 2012). The majority

of the population consists of the youth. Cole has its presence in all capital cities. The

company should then focus on maximising the full potential of the markets. The company

should focus on the people between 15 to 67 years because they occupy majority people of

the population.

2.1.3. Technological environment

There has been rapid advancements in the technological environment in the last five

years. Companies and people are employing the use of smart systems and technologies to

boost the efficiency of their operations and monitor their progress (Hattersley, 2013).

Australia’s population is increasingly using computers and other technologies to do their

shopping. Cole uses the latest technology to track the process of its stock, and also examine

the change in consumer demand and preferences.

3

2.1.4. Socio-Cultural factors.

One of the significant trends is the increasing awareness and consciousness of the

consumers towards their well being and health. There has been a continual shift of tastes and

preferences of consumers towards more organic and healthy product (McCarthy, 2013).

Currently there are few players in the industry who is offering the sales of organic foods and

products. This presents an opportunity for Cole Supermarkets to venture into healthy and

organic foods and products. This will enable the company to tap on the already available

market and also respond to the changes in the tastes and preferences of customers (McCarthy,

2013). This also highlights the threat to Cole supermarkets that farmers markets and niche

supermarkets, which specialise in organic and healthy products, will thrive.

There have been an increasing number of time sensitive consumers in the Australian

market. There has been an increasing demand for ‘time convenience’ among consumers in

the market. The ability to meet and satisfy time sensitive customers is the possibility of

extending the trading hours. Cole supermarkets can also provide more convenience to

customers by extending the range of products to customers as much as possible. Cole

Supermarkets have responded to these customer needs by creating Cole’s express.

2.1.5. Economic Factors

The current trend in the economic climate has resulted in the reduction of consumers

purchasing powers. The most adversely affected goods are the flexible goods; consumers are

shifting into private labels in order to save costs (Hattersley, 2013). This has allowed private

labels to compete on the basis of lower prices while making a huge profit margin. The

provisions of private labels by Cole supermarkets will enable supermarkets to compete on the

basis of choice convenience, which is, offering customers a low cost choice alternative.

4

2.1.6. Global environment.

Changes in the global operating environment occur rapidly meaning that companies

must continually adapt to suit these changes. Globalisation has brought about the free

movement of people and goods in the world (Kumar, 2008). Products from all over the world

compete in the local economy. Changes in the global operating environment affect the local

economy. Companies are not spared from the harsh environment of the global operating

environment. Cole and other companies must continually change to suit their needs and

strategies to fit the global environment.

2.2. Industry Analysis

This section will first utilise the Porters’ Five Forces analysis to examine the

competitive forces in the retail industry in Australia. It will then examine the attractiveness of

the Australian grocery industry in the advent of the current operating environment. This will

be preceded with the examination of Cole Supermarkets relative position in the industry.

2.2.1. Threat of substitutes

The threat of substitutes in the grocery and retail industry is high. Cole supermarkets

lace numerous convenience stores, grocery stores and the farmers markets. The indirect

competitors form the significant threat of substitutes to Cole supermarkets. Convenience

stores have experienced significant growth recently, and are offering more choices to

customers (Hattersley, 2013). This is offering direct competition to supermarkets on offering

the choice convenience and the wide range of products to consumers. The shift of consumer

taste and preferences towards healthy and organic products means that farmer’s markets offer

a potential threat to supermarkets. The rise of time sensitive consumers makes the perceived

threat of specialty stores minimal.

5

2.2.2. Competition

With over 140, 000 retail stores in the Australian retail industry, there is high

competition in the industry. The high degree of rivalry that exists in the industry is as a result

of the small number of retail stores in the industry, and low perceived difference in the

generic nature of the goods and services offered in the industry (Deloitte, 2012). The biggest

determinant of the level of competition is the price, although store location and product

choice also play a major role. Woolworths are Cole supermarkets biggest competitors in the

industry, which is the market leader followed closely by Cole supermarkets. The rivalry in

the industry is bound to increase in the future due to the entry of new players in the industry,

and the growth and expansion of private retailers like IGA and Action (Gunasekaran, 2008).

2.2.3. The Bargaining power of customers

The bargaining power of suppliers in the industry is low, because Woolworth’s and

Cole control 75% of the market share, therefore, the supplier has a limited selection of

intermediaries to select from in the industry. In the producers’ production, in most cases Cole

and Woolworths are the major purchasers’ in the industry, and sometimes the only purchasers

in the industry (Deloitte, 2012). Woolworths and Cole have a significant market share

presence in Australia, such that major companies like Nestle and Kellogg’s do not dare upset

these two companies. This is set to change in the future, the emergence of action

Supermarkets, and the expansion of IGA is set to erode the significant power that

Woolworths and Cole have in the industry. The recent policy changes by Federal

Government and The Australian Competition and Consumer Commission’s (ACCC) to

reduce the barriers of entry in the industry (Deloitte, 2012). The bargaining power of

suppliers in the industry is expected to be moderate in the years to come, because of the wide

range of intermediaries that producers can select from in the industry.

6

2.2.4. The bargaining power of buyers.

Although the bargaining power of consumers is low in the industry, it is set to

increase in the future. The aggressive push by the national government and ACCC to reduce

the barriers of entry in the industry is set to increase the bargain power of customers in the

future due to the entry of numerous players in the industry. The emergence of price

comparison websites will lead to the increase in the consumer bargaining power I the industry

(Tootill, 2012.). The price comparison websites such as ‘grocery.bestpricedirectory.com.au’,

enable consumers to compare the prices of products among various supermarkets and

convenience stores in the industry. The bargaining power of buyers is set to crease to a

‘moderate’ level in the future.

2.2.5. Threat of new entrants

The threat of new entrants in the industry is low. This is expected to remain like that

in the near future because of the indigenous agreements of the zoning laws and other

agreements like leasing, rent, and ownership. These laws have resulted in the scarcity in the

grocery and retail stores location sites, especially for the foreign players who are seeking to

venture into the grocery and retail industry in Australia (Tan, 2012). This is despite the

amendments of federal governments and ACCC law and regulation to encourage entry of

new companies and competition in the industry. The threat of entrants is expected to remain

low in the foreseeable future. The preferential treatment of Cole and Woolworth’s by

landlords due to the amount of traffic that both companies attract discourages new entrants in

the industry. New entrants in the industry must compete with Cole and Woolworth’s

economies of scale, thus the new entrants must invest heavily in infrastructure and facilities,

and seek for expertise to manage the business, which is hard and rare to find (Gunasekaran,

2008). New entrants in the industry require significant investments and undertaking, and only

a few players like IGA and Action are low.

7

2.2.6. Comparison of the industry attractiveness for Cole supermarkets

The Porters’ five forces have highlighted the industry attractiveness for Cole

supermarket. In the recent past, the industry attractiveness for Cole has been moderately high,

or extremely high in the industry (McCarthy, 2013). The main cause for this was the high

barriers of entry in the industry, and the low bargaining power of buyers and sellers in the

industry. This is highlighted by the high profitability that Cole enjoyed in the industry.

However, this is set to change because of the various changes that is occurring in the

industry. The increase in the bargaining power of buyers and sellers, and intensity of

competitors in the industry is set to reduce the attractiveness in the industry from high to

moderate. As a result of this the profitability of Cole supermarkets is set to reduce from high

to moderate. The ability of Cole supermarkets to out performs its rivals in the industry lays

on its ability to properly utilize its resources and capabilities (Nenycz-Thiel, 2012).

3. Internal analysis – Cole’s Core Competencies

The capabilities of Coles supermarkets are vital when they are combined in a unique

and sustainable manner that create core competencies for the organisations, which develops

and creates strategic value and ensures that the company maintains a strategic advantage over

its competitors (Hattersley, 2013). The capabilities of Coles highlights the ability of the

supermarket to effectively deploy its resources, which have been integrated purposely to

achieve the goals of the organisation. The core competencies are the vital capabilities that

function as the basis of Coles competitive advantage over its rivals (McCarthy, 2013). Core

competencies distinguish Cole supermarkets competitively and make it distinguishable in the

market. These core competencies are identified below.

Highly Effective Supply Chain:

Coles efficient supply chain is both a resource and a capability in the company’s

inbound and outbound logistics. The substantial cost saving provided by the supply chain

8

enables Coles to compete effectively with Woolworths (Gunasekaran, 2008). The level of

technological capability and supply chain efficiency is non-substitutable for any other

resource. The level of competency is vital for the proper management and implementation of

the promise of the organisation. Should Cole have efficient supply network and technological

advancement and sell products of high quality? It would be irrelevant (Hattersley, 2013).

Thus, by the aforementioned an effective supply chain is deficient as a separate competency,

and must be sustained by other competitive advantages.

Brand Reputation:

Coles brand image has been developed over several decades and this was achieved

through positive consumer experiences. This can be attributed to the stringent quality

assessment that exists in the company. Coles brand is valuables, because it offers substantial

differentiation from the rivals, and contributes of the high level of customer satisfaction

(Coles, 2011). However, competitors offer high quality and fresh food products. Thus, this

reputation is not a distinctive competitive advantage; rather it is a point of parity, which Coles

must enjoy in order to compete.

Effective Top Management:

The competencies of Cole has enabled it the company to be able to navigate the

operating environment effectively in the advent of recessionary pressures. This can be

attributed to the company top management. The top management will be relied on by the

company to be able to navigate the increasingly competitive environment, in particular CEO

John Fletcher (Mills, 2002). Consequently, the competence of top management in directing

Coles through the current turbulent economic climate and constantly achieving high growth

rates makes it a valuable resource. As such, it is non-substitutable by any other resource.

However, it cannot be considered exceptional and rare, the maturity of the industry highlights

at most companies in the industry capable senior management (Gunasekaran, 2008).

9

The following are the means through which Coles supermarkets frames its strategic

focus by employing the sustainable advantage and the value chain analysis of core

competencies.

Sustainable advantage

When framing the strategic advantage Coles supermarkets employs the following four

criteria’s; valuable, rare, non-substitutable and costly to imitate. Valuables are the core

competencies that are not possessed by many others (McCarthy, 2013). This are the values

that enable the company to be able to neutralise the threats and exploit the opportunities

available to the company. Through this, the Cole supermarkets is then able to create value to

its customers. The value chain of Coles supermarkets is efficient that it enables the company

to be able to create value to its customers (Dwivedi, 2012). Through its value chain and

economies of scale the company is able to offer customers products of high quality standards

at low possible costs, therefore, creating value to customers. This strategy adopted by Coles

is costly to imitate. The company has developed its value chain system and economies of

scale through decades of experience giving the company a competitive advantage over its

competitors. The strategy is extremely costly for companies to copy, especially the new

entrants, because of the capital resources required (Coles, 2011). The economies of scale is

easily substitutable, and this is demonstrated by Woolworths. The strategic advantage

possessed in the value chain analysis is extremely difficult for other companies to substitute

because it possess invisible capabilities. The level of technological capability and supply

chain efficiency is non-substitutable for any other resource. The level of competency is vital

for the proper management and implementation of the promise of the organisation (Plunkett,

2008). The firms possess a specific knowledge over the other companies in the industry in

the value chain analysis. In Australia’s retail industry not many companies possess the

10

strategic combinations of core competencies, which Coles possess that is giving it the

strategic advantage.

Value chain analysis

Coles supermarkets main business objectives are all geared towards delivering the

achieving its mission which are “Down Down, Prices Are Down” and “Quality food costs

less at Coles”. The value chain analysis is the system through which Coles supermarkets has

separated it value creation activities (Dwivedi, 2012). The goal of these activities for Coles

supermarkets is offer customer values that exceed the cost of the activities, thereby, creating a

profit margin.

All the activities of the organization are geared towards attaining and delivering the

objectives (Coles, 2011). The main value chain activities that are geared towards delivering

the promise of Coles supermarkets includes the following:

In-Bound Logistics

Coles being a retailer does not produce the product it sells in its stores. Coles just

controls the distribution network of the products (Nenycz-Thiel, 2012). Procurement and

logistics are the two main activities within the organization that contribute to the firm’s

success in delivering on its promise. The products that come directly from producers go

directly to the regional or national distribution centre, where the product quality is certified

before it is distributed to the various stores nationally. Cole supermarkets own and operate its

own distribution trucks, which are involved in the company’s own distribution system

(Kumar, 2008). This puts the company in a better position in ensuring on time delivery of

goods and services. Additionally, operating the distribution centres (DCs) and trucks in its

delivery chain puts Cole supermarkets in a superior position to warrant optimum distribution

efficiency and product quality.

11

Operations

Operations activities cover two primary activities that guarantee the consumers

convenience and value, improved quality assessment and proper management of inventory.

The two primary activities include the following;

Checks and balances are put in place to ensure that from the time stock arrives in the

store, to when they are displayed on the shelves they detect and remove defective products.

The minimum presentation level for each product is tracked to ensure the products do not fall

beyond the require levels (Dwivedi, 2012). The sophisticated point of sale (SOS) keeps track

of the sale of the products, and it authorizes re-stocking when the product falls below the

minimum presentation level. Cole supermarkets use modern and advance forecasting models

that evaluate the change in consumer demand so as to optimize the sale of products (Dwivedi,

2012).

Marketing and Sales

In-store Promotions and Organizational Dynamism are the two main activities that

ensure the success of marketing and sales endeavours of Cole supermarkets. In order to boost

sales in its branches all over the country the company holds weekly special offers where the

prices of certain goods are reduced significantly (Cleanthous, 2011). In order to supplement

this offer, the company issues catalogues that show consumers the products that are available

on offers. This strategy is highly effective in boosting the sale of products and the turnover of

products in the store. For example, normally Cole sales $2000-$3000 worth of toilet papers

weekly, during weekly specials the sales of the products increases to $8000. The success of

Cole will be judged on the ability of the company to keep up with the change in consumer

trends and preferences. Under the Coles quality food brand, the company has introduced easy

to prepare meals in order to cope with the changing preferences of consumers (Meyers,

2010).

12

There are also other activies within the value chain that contribute to achieving Cole’s

mission; which are:

- Outbound Logistics; distributing the products to the various branches using the

company’s distribution network.

- Services; supporting customers to understand the value offered in the

products, and assist them in locating the products (Gunasekaran, 2008).

- The supply chain value addition services are supported by the superior

technology that cannot be substituted by any other firm in the industry, and the

level of resources and infrastructure available to the firm.

4. Cole’s main strategies

The business-level strategy that Coles adopts involves the integration of cost

leadership and differentiation strategy. The company uses its brand image to differentiate and

superior supply chain to minimise the costs of its products (Mules, 2011). The cost leadership

strategy is used to ensure that the company offers value to customers at the lowest cost

possible (Coles, 2011). This is achieved through its economies of scale activities, profound

influence over producers, use of advanced technology and efficient supply chain. The low

perception of products in the market means that there exists a low perceived difference

between the products. Cole supermarket employs its differentiation strategy through brand

image. The company has developed its image over decades, and through offer value and

satisfaction to customers. The integration of cost leadership and differentiation strategies

means the Cole supermarkets are able to target a broad segment of the market, by offering

products that are different from rivalries at the lowest costs possible (McCarthy, 2013). The

low cost strategy ensures that Cole focuses on producing products that have few frills, which

demonstrate the superior quality with a limited selection. The product differentiation features

ensure that customers can identify the different offering on Cole’s products. The integration

13

of these strategies ensures the products possess good to excellent product feature, with many

upscale product features. The generic use of the integration strategy ensure that Cole

supermarkets strive to come up with new ways that will offer value to consumers while

offering product at the lowest costs possible (Tootill, 2012.). This would ensure that the

company does not sacrifice on offering consumer products with superior quality.

The main corporate-level strategy for Coles business is to become the market leader

in the Australia’s retail industry (Meyers, 2010). Wesfarmers portfolio management is

focussed on identifying and investing in value added services. Wesfarmers strategy focuses

on diversifying its portfolio across various industries. Their strategy focuses on strengthening

the existing industries, identifying of growth opportunities and sustaining responsible

business operations. BCG is a framework that is used to analyse the strategic position of

Coles supermarkets business brand portfolio. In Coles Supermarket’s case, the company has a

substantial market share. This means that the company utilises more cash, and also receives

substantial returns. The company benefits from economies of scale and has decades of

experience in the industry. The market share growth rate is relatively small, in 2011 the

grocery and retail industry grew by less than 2%.

14

Coles belongs in the cash Cow category it should invest maintain and growth in the relative

position in the market. Coles earning are high and stable, and the flow of cash is also high

and stable.

5. Strategy Implementation

Implementation of strategies by Cole follows the leadership, performance

measurement and turning strategy into action mechanisms. The strategy implementation in

Cole supermarkets is strategically driven, which involve all people in the organisation. The

management of Cole knows that staff members look into leaders to provide meaning, a sense

of direction and to establish purpose and value (Cleanthous, 2011). The process of

transforming strategy into results is achieved through engagement of all staff members and

personnel. The engagement of all people in the organisation will turn the strategy into the

action, and bring about the sense of ownership in strategy implementation. The resources for

strategy implementation are done through the various departments and individual levels of

the organisation (Tan, 2012). This ensures that the strategy implementation is successful.

15

Leadership in implementation of strategies makes a difference. It is the difference

between success and failure of the organization. The turning the strategy into action involves

linking the strategy through the departmental and personal activities. In this way, the strategy

implementation will be translated in a manner that is clear and concise. The strategy will be

divided into manageable outcomes for the departments and individuals (Plunkett, 2008). The

communication, concise, and cascading effects of strategy implementation are achieved

through putting the plan into action. The capacities for the strategy implementation

redeveloped internally within the organization.

The performance management is carried out to ensure that the strategy

implementation is done within the plan and time scale requirements. In order to ensure that

there exists proper strategy execution within both the individual and institutional level the

policies and procedure that facilitate strategy implementation should be examined and

analyzed. This will enable all people involved in the implementation process to understand

the policies guiding the implementation and execution of strategies. Adoption of information

technology tools would enable foster the implementation process. The implementation team

would identify information technology tools that foster the implementation of strategies.

Coles supermarkets organisational culture will foster strategy implementations. The cultural

practices within the organizations is tailored towards ensuring the goal and objectives are

achieved.

6. Key challenges

Resistance to change, culturally Australians are resistant to change, for instance, the

Australian consumers have been reluctant to move online and slow to clear out stock. In

Australia the costs of doing business are extremely high, costs of rent and workers are among

the highest in the globe (Hattersley, 2013). The global economic environment is experiencing

sluggish growth. This is due to the recent economic recessions experienced in Europe. The

16

effect of this is tightening of capital and banking facilities. It is not easy for companies to

access credit. The retail industry is experiencing too much, or incorrect inventory levels.

Rotating of stock is vital for any retail business. The retail companies have been reluctant to

rotate any stock (Deloitte, 2012). Australia is a land of opportunities; young people are

getting jobs and running the business. The young and inexperienced do not have the capacity

to run businesses especially in the tough and rough economic climates. The retail industry has

been slow to embrace the internet and social media.

7. Recommendation

The Australian retail industry should embrace technological advancements in order to

be able to achieve its strategic objectives. The use of online retail stores is increasing in the

Australian economy. Retail stores should embrace online retail stores and social media in

order to grow their business (Kumar, 2008). The Australian business is characterized by

resistance to change. The retail companies have been slow in embracing the change of

attitudes and consumer preferences towards organic and healthy food products. In this

uncertain economic turmoil, retail companies should streamline their operations in order to

make substantial cost savings, which would enable the company to have additional funds for

spending.

17

References

Cleanthous, X. M. 2011. Comparison of reported nutrients and serve size between private

label products and branded products in Australian supermarkets. Nutrition &

Dietetics, 68(2), pp. 120-126.

Coles, C. 2011. Working Together–Horizontal Coordination as an Upgrading Strategy.

Markets and Rural Poverty:. Upgrading in Value Chains, p. 143.

Deloitte, 2012. Analysis of the Grocery industry; Cole Supermarkets Australia, Sydney,

Australia: Deloitte Access Economics Pty Ltd.

Dwivedi, A. M. 2012. Brand, value and relationship equities and loyalty-intentions in the

Australian supermarket industry.. Journal of Retailing and Consumer Services., 19(5),

pp. 526-536.

Gunasekaran, A.L. 2008. Responsive supply chain: a competitive strategy in a networked

economy. Omega, 36(4), pp. 549-564.

Hattersley, L. 2013. Supermarket power, own-labels, and manufacturer counter-strategies:

international relations of cooperation and competition in the fruit canning industry.

Agriculture and Human Values, pp. 1-9.

Kumar, S. 2008. A study of the supermarket industry and its growing logistics capabilities..

International Journal of Retail & Distribution Management, 36(3), pp. 192-211.

McCarthy, B. 2013. Who’s buying organic food and why? Political consumerism,

demographic characteristics and motivations of consumers in North Queensland.

Tourism & Management Studies, 9(1).

Meyers, M. 2010. Grocery Shopping Patterns In Melbourne, Australia. In Academy of

Marketing Studies, 15(1), p. 53.

Mills, G. 2002. Retail Pricing Strategies and Market Power. Illustrated ed. Melbourne:

Melbourne Univ. Publishing.

18

Mules, R. 2011. Supermarket Wars. 19(4), p. 2.

Nenycz-Thiel, M. 2012. Value-for-money perceptions of supermarket and private labels..

Australasian Marketing Journal (AMJ), 20(2), pp. 171-177.

Plunkett, J. W., 2008. Plunketts Food Industry Almanac 2008: The Only Comprehensive

Guide to Food Companies and Trends. Houston, TX : Plunkett Research, Ltd.

Tan, L. P. 2012. Intra-category competition, entry probability, and private label share:

Evidence from organic food retailing in Australia.. Asia Pacific Journal of

Marketing and Logistics, 24(3), pp. 414-432.

Tootill, A. 2012. Cole In The Country. Sydney, Australia: Alan Tootill.

19