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Marketing and Management

University: ISC london

  • Unit No: 14
  • Level: High school
  • Pages: 14 / Words 3552
  • Paper Type: Case Study
  • Course Code: N/A
  • Downloads: 416
Question :

This sample will let you know about:

  • What is Marketing Management?
  • How can we improve the customer experience?
  • Discuss different strategies for management.
Answer :
Organization Selected : ALDI

INTRODUCTION

Marketing management is an important tool for organizational discipline which focuses on application of marketing techniques, methods and orientation including promotional activities, public relations and sales. Aldi is the supermarket chain with over 10,000 stores in 20 countries worldwide and an estimated combined turnover of more than 50 billion gloablly. This report explains marketing TOWS along with audits for Aldi supermarkets. It also evaluates the marketing objectives for company for“Express Ourselves marketing campaign. This report explains the marketing mix plan for Aldi company to achieve the objectives and the proposals on which company can enhance customer services as part of their marketing campaign. This  report analyses proposal on how company can improve customer satisfaction services through marketing campaign.

Marketing TOWS for Aldi

TWOS Matrix can be understood as the tool to analyse, compare and generate the business strategies by combining external environment opportunities and threats in industry with the internal company strengths and weaknesses. It enables company to enhance brand value with constructive marketing campaigns along with higher productivity margins and increased company sales of products and services on global platform (Budianto, 2019).

ALDI

Strengths-S

  • Affordable Pricing
  • Existing customer base

 

 

 

Weaknesses-W

  • Low margins
  • Poor penetration in high income groups

Opportunities-O

  • Targeting new segments of customers
  • New markets

SO strategies (Leveraging strengths to maximize the opportunities)

  • Launching new variety of products
  • Promotion strategies to target new segments of customers(Florea and Munteanu,  2019).

 

 

WO strategies (Countering weakness by exploring opportunities)

  • Penetrate into new markets of high income groups
  • Target new customers with low margins in discount stores

 

Threats-T

  • Increased competition
  • New competitive products

ST strategies(Leverage strengths to minimize threats)

  • Becoming marketing leader with affordable pricing
  • Introducing competitive products for existing  customers

 

 

WT strategies(Counter weaknesses and threats)

  • Strategies to combat competition with low margins
  • Launching new products for high income group customers (Fuad,  Tamtomo, and Sulaiman, 2019).

 

 

 

SO Strategies (Attacking strategies)

These strategies of TWOS Matrix involve the company to use internal strengths to create optimum use of external opportunities available in the industry. ALDI has an established brand image in UK among the minds of customers which creates large opportunities to enter new market areas. Marketing strategies with large variety of products and services for existing segment of customers will enhance productivity levels of company and highly increase the profit margins globally.

  • Launching new variety of products: ALDI has an established goodwill among the customers in UK who look towards shopping in stores for grocery and household purchasing (Katsikeas,  Leonidou and Zeriti, 2019). Retail industry has been facing tough competitive business environment due to changing preferences and new companies coming up with large variety of products. Launching new variety of products according to the changing preferences of customers will enhance the goodwill of company services with affordability price range being one major strength of company.
  • Promotion strategies to target new segments of customers: Targeting new segments of customers by entering new arenas of market share will enhance productivity levels of company on global platform. Strategies to promote about company operations to different age groups of people and segments of customers with new preferences and tastes will enable company to increase the market share.

WO strategies (Building strengths for attacking strategies)

These strategies of TOWS Matrix indicates the procedural steps company can take to overcome the weaknesses and take advantage of various opportunities for growth in competitive industry. These strategies develop insights for companies regarding various weakness and the new opportunities for groth.

  • Penetrate into new markets of high income groups:Aldi is yet to penetrate into higher income segment customers who look for supreme quality goods in stores while shopping. Aldi by enhancing the production quality and promoting services into new markets penetrate into new segments of customers with higher income groups who look for advanced quality goods and services (Min and Peng-Fei, 2019).
  • Target new customers with low margins in discount stores:Aldi can introduce new marketing techniques to promote about the various discount sales, operating in many of the stores. It will enable company to attract new customers coming in stores who look for shopping in bulk. Get Online Assignment Help from our experts.

ST Strategies (Defensive strategies)

These are defensive strategies which enable management if company to exploit the internal strengths for overcoming any potential threats arsing in competitive industry. It allows company to formulate strategies for accomplishing desired goals and high production objectives to reach increased profit margins.

  • Becoming market leader with affordable pricing: Aldi stores low margins prices of goods and services which are significantly low then other retailers which has becoming strength of company marketing strategies. In highly competitive industry where there are large companies emerging in market every day,Aldi can occupy a form position with strong customer base by offering affordable prices of all goods and services.
  • Introducing competitive products for existing customers: Aldu has established large customer base with high loyalty towards shopping in stores, however there is an increasing threat of competitive products emerging every day. Aldi can introduce new products with competitive features and higher quality standards to enhance their productivity levels. It is great defensive strategy to keep the existing customer base strongly satisfied and reach high profit margins with increased sales in stores (Ngarava, S. and Mushunje, 2019).

WT strategies (Build strengths for defensive strategies)

These allow company to build strengths for defensive strategies for overcoming the weaknesses and possible threats of business for reaching higher performance levels. WT strategies enable company to position itself firmly in industry by improving the performance levels regarding internal weaknesses, upcoming threats.

  • Strategies to combat competition with low margins: There is high competition in retail industry with large companies emerging every day and due to low margins Aldi is not able to function strongly to reach high profit margins. By building marketing strategies to promote goods and services offered by company in affordable price range it will enable company to combat competition strongly.
  • Launching new products for high income group customers: There is an increase in market share with high competition among new variants of products and services (Pedersen, Ellegaard and Kragh, 2019). Company has not been able to enter higher income segments of customers who look for high quality standards in goods. Aldi by operating new functional areas where higher quality standards in production are maintained ,cater to new segments of customers.

Marketing objectives for “Express Ourselves” marketing campaign

Marketing objectives are concrete goals set by company for improving the business outreach in industry and presents creative approach for reinventing the operation structure of company. These objectives should be easy to measure by top management of organization and include benchmarks to enhance productivity levels of goods and services. Express ourselves is the marketing campaign over 12 months period for Aldi where company aims to enhance its performance standards by increasing goodwill, and promoting about goods and services to new segments of customers. The 3 marketing objectives which will enable company to raise is market spread and  promote effectively can be understood as:

  • Increase percentage of sales- Aldi by formulating marketing objectives to increase company percentage of sales in all stores enhance its position firmly in competitive industry. It is imperatively important for company to reach production targets with cost efficiency of all resources and increase the profit margins with high percentage of sales  Aldi must focus on building strong marketing objectives to promote goods and services of stores among larger segments in customers for high percentage of sales (Saidani and Sudiarditha,2019).
  • Build brand awareness- It is one of the most important marketing objective which aims company to build strong brand awareness among consumers for long term sustainability. Aldi by formulating strong marketing objectives to enhance goodwill among existing consumers and promote products into new segments of customers build strong brand awareness. Building brand awareness is of high importance for companies in highly competitive business world where consumer market has volatile growth.
  • Grow market share-It is highly important for companies to build marketing objectives regarding growth in overall market share as it allows company to occupy large position with stability among consumers. Aldi can enhance its market share globally by increasing numbers of stores with variety of goods and services catering to new preferences of customers (Venaik and Midgley, 2019). It is imperatively necessary for Aldi to grow market share by entering new arenas for customers who look for high quality standards in products. Want to get Assignment Samples.Talk to our Experts!

Marketing Mix plan to achieve these objectives in 12 months

Marketing mix refers to strategical tool used by top management for analysing various elements which go into promoting brand and its product performance levels. It helps to increase the product portfolio and guides to improve business by creating differentiation among product quality standards for customers to choose from. It enables company to build dynamic standards for completion of the marketing objectives. Aldi by formulating an effective marketing mix plan achieve the set objectives which will enable company to enhance it productivity among stores globally (Strycharz, van Noort, Helberger and Smit, 2019). The 7ps of marketing mix are as follows:

  • Product:This includes quality, image and branding services of product which has the packaging features describing how much it is attractive enough for customers. The after sales customer services of product has an immense impact on performance level of product. Aldi by improving the quality standards of all products and services enhance its productivity to reach high standards which will enable company to attain set marketing gaols. Aldi needs to reach new higher quality standards regarding various products due to changing preferences of customers and high competitive market share around. It will enable company to posses strong position in market spread by distinctive quality and high customers' satisfaction standards to reach the marketing objectives.
  • Price: This includes positioning, discounts and payment methods for products which enable customers to choose products based on price factor. It is an important element of marketing mix which allows company to firmly occupy strong position among consumers on the basis of price (Ikhsana, Prisanto,and Anggraini,2019).Aldi can formulate strong pricing strategies such as value added elements and east payment methods at stores through advanced technology. Attractive pricing strategies such as discounts, sales on various products are an influential element for reaching large segments of customers who look towards bulk shopping opportunities.
  • Place: This includes place factor of product which implies the sales channel and segmented channels through which product is available to customers in all segments (Syapsan, 2019). Easy availability of stores within consumer market share is an important element of price factor which has an effective impact on marketing objectives. Aldi by opening large number of stores in domestic as well as intentional market for easy availability of products to consumers, enhance its marketing mix plan for attaining the marketing objectives. Stores should have hygienic environment for all customers with all basic facilities to encourage repetitive sales of company.
  • People-This refers to employees working in company whose responsibilities relate to designing, manufacturing the products and conducting marketing research to establish market demand among consumers. Providing high technical training to Employees in company enhances the product standards for reaching new segments of customers. Aldi by improvising performance standards of employees and providing functional training to reach high competitive level attain marketing objectives effectively (Themba, Razak and Sjahruddin, 2019).
  • Promotion: This refers to promotional activities of products by company which is an important element of marketing mix deciding the extent to which customers are able to get attracted towards products. It involves marketing communication and sales communication of products through strong branding of products, goods and services. Aldi by formulating promotional strategies to largely impact the customer segments in market share who look for affordable prices with good quality standards, reach the set  marketing objectives. In changing business scenario globally high promotion of products by companies is highly important for companies to attain long term suitability with strong profit margins (Di Gregorio, Maggioni, and Mazzucchelli,2019).
  • Packaging- This refers to smart packaging features of product which delivers an appeal of attraction towards customers while shopping. Aldi by introducing smart packing techniques for all products and services enhance the reach towards all customers globally. Company must aim to use innovative packaging techniques for strong branding and attainment of marketing goals. There is tough competitive growth in market share where customers look up to new packaging for various goods and services while shopping.
  • Positioning-This refers to creating a brand position by company which establishes compelling image of how company wants brand to be perceived by customers (Wang,  Su and Guo, 2019).A strong positioning statement of product will lead to better marketing by company enabling it to reach high profit margins. Aldi by positioning strong brand image of all products and services increase the brand position globally and reach set marketing objectives with effective increase in production targets and high profit margins.

PROPOSALS ON HOW CUSTOMER SERVICE CAN BE IMPROVED THROUGH MARKETING CAMPAIGN

For a business to become sustainable and profitable, not only does it need to keep acquiring new customers for growth, it also needs to expend resources to service its current customer's issues and grievances in hopes of retaining them. Providing effective customer service raises customer loyalty, increases the frequency at which customers make purchases and generates positive company reputation in market. Therefore, it's imperative for ALDI to improve their customer service as part of their 'Express Ourselves' marketing campaign by implementing the following suggestions:

SOCIAL MEDIA CUSTOMER SERVICE:

Now days most businesses provide customer service to customers through social media platforms, as a consequence of the digital boom of the 2000's. Providing customer service on social media has the added benefit of being able to service issues faced by clients in a timely manner. But where most businesses simply focus on answering customer queries, they fail to see greater opportunities for customer service to display their brand ethics and values, and engage with the public (Mandal and Joshi, 2017). It would be essential for ALDI to have skilled and talented employees working on its social media customer service, since all interactions are on social media are shared for everyone to see. Every positive customer interaction increases brand value and reputation, while negative customer interactions have a tendency to go viral and damage the brand's reputation. But, if used effectively, it can help increase ALDI's market share and raise brand value.

FEEDBACKS:

In order to provide effective customer service, the team first needs to figure out wishes, expectations and issues that their customers are facing currently. All these can be discerned by asking customers to share their valuable feedback. ALDI can implement feedbacks through the use of forms and surveys on the internet and social media platforms. ALDI can also ask loyal customers visiting their stores for feedback via physical forms (Cook, 2017). Another way ALDI can gather feedback is by creating an effective complaint system which incentivises customers to raise their queries. With sufficient collected data, customer service team will be able to determine ALDI's exact strengths and weaknesses and areas in which they need to improve. Feedbacks also provide the added benefit of making customers feel valuable and assure them that ALDI cares about resolving any problems they might encounter.

IDEAS FOR CONTENT CREATION:

Successful organizations recognize the value of consistent and regular content creation to their marketing approach. Sadly, it can become increasingly harder for marketers to come up with a constant flow of ideas regularly, regarding original content creation. This happens to even experienced personnel's as creating a unique and remarkable idea that customers will find informative and valuable is difficult. ALDI's Customer service team can be of tremendous help to the marketers in this aspect, as the team regularly communicates with their customers and learns of their issues, requirements, interests and preferences. This will provide ALDI's marketers with a reliable source of ideas for useful and effective content creation on a consistent basis. In addition, the customer service team can educate ALDI's marketers on specific aspects of current product which customers deem unsatisfactory and guide them in marketing such products appropriately. This way ALDI would benefit greatly by opening communications between its customer service and marketing teams.

CUSTOMER-EXPECTATION SETTING:            

Effectiveness of a marketing team is dependent upon its ability to provide concise and clear expectations of how their products/services will help solve a potential customers requirements. And when these expectations are met consistently the transition from a potential to loyal customer is quite natural. In contrast, misleading or sometimes plain incorrect expectations from marketers on products can have a drastic impact on its performance in the market and eventually lead to the organization losing loyal customers as well (Habel and et.al., 2016). This is another aspect in which ALDI's customer service team can help its marketers, notifying them whenever misleading or inadequate expectations have been set for a product, since the customer service team would be the first to encounter any such potential inconsistencies.

CUSTOMER-LOYALTY PROGRAMMES:

Customer loyalty programs are crucial strategies to keep loyal customers satisfied and engaged with the brand. ALDI's customer service and marketing teams can collaborate together to offer loyal customers bonus points, discounts, special deals or exposure on social media platforms or other marketing alternatives and present the brand in a positive light (Yoo, Bai and Singh, 2018). Offering customers choices between various rewards in their loyalty program should definitely raise customer satisfaction and happiness, something which would require brainstorming on both marketing and customer service team's part for effective implementation.

By implementing these reforms in their 'Express Ourselves' marketing campaign, ALDI can increasing its market share, please and retain their loyal customers, raise ALDI's brand reputation in the market and improve the productivity and effectiveness of its both its marketing and customer support teams. Take Marketing Essay Help from our Experts!

CONCLUSION

This report can be concluded by the TOWS marketing analysis of Aldi company which analysis how company can enhance its productivity levels within market share by developing SO, WO, ST, WT strategies for reaching higher profit levels. This report also concludes the marketing objectives for “Express Ourselves “ campaign which are Increasing percentage of sales, building brand awareness and grow market share.

It analyses the marketing mix plan which are 7Ps for effective attainment of marketing goals by Aldi, how company can grow globally with enhanced marketing techniques, attractive and innovative marketing promotion to reach new segments of customers. This report concludes how customer satisfaction services can be improved through strong marketing campaign which are social media customer services, feedbacks, interesting content creation on internet platforms which will enable company to improve its performance levels.

Also Read- New Business Venture 

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