Marketing Management
- Provide an understanding of key theories, concepts, and models in marketing to manage the development and execution of marketing strategies.
- Explain the complexity of the competitive environment and demonstrate the impact of developing effective strategies in an organisation.
- Produce skills to critically evaluate the marketing situations and problems facing organisation and analyse its capacity to adapt to a dynamic and uncertain future.
- Devise, suggest, and explain appropriate and actionable marketing strategies and tactics to an organisational scenario.
TASK
Individual Marketing Report
You have been recruited as a Marketing Consultant to develop 12 Months Marketing Campaign Plan for your Client (ALDI Supermarkets), analyse the Marketing Management tasks given below.
Aldi has planned to run this intensive Marketing Campaign from the period of 1st May 2020 to 30th April 2021.
The Marketing Tagline for this campaign is `Expressing Ourselves`.
Your Report to the Management of ALDI should cover the following Marketing Management tasks:
- Develop a Marketing TOWS for ALDI, examining the Marketing Audits that you have undertaken in doing so.
- On the basis of these findings, discuss and explain 3 Marketing Objectives that should be set for the `Express Ourselves` Marketing Campaign over the 12 months period.
- Analyse and define the Marketing Mix Plan that you are supposed to be undertaken in order to achieve these objectives over the 12 months period.
- Produce proposals on how ALDI can improve their levels of Customer Service as part of their `Express Ourselves` Marketing Campaign.
INTRODUCTION
Marketing is crucial for a business's success, aiding in goal achievement (Kotler et al., 2017). It attracts customers to products/services, enhances overall performance, as seen with Aldi, a global brand focused on product/service effectiveness and customer engagement. High-quality offerings are key for customer attraction and market presence. This report analyzes Aldi's marketing strategy using SWOT and PESTLE, addressing external business impacts and campaign objectives for goal attainment. It emphasizes the significance of a well-crafted marketing plan, enabling goal accomplishment and competitive edge through strategic marketing strategies.
Construct a Marketing TOWS of ALDI
Marketing play an important role in developing presence of business in market and to attract customers towards organization products and services (Keegan, 2017). ALDI is the firm with more than 10000 stores all over the world their quality product and global presence make them effective and attractive in market which help them to attract customers towards their product easily. TOWS analysis help ALDI to prepare marketing strategy of business as follows.
TOWS analysis
TOWS is an analysis which stands threats, opportunities, weaknesses and strengths. This tool work as a powerful tool to help business to develop a strategy. It is technique used to determine company's internal strength, weakness and compare it with external opportunities and Threats. Aldi provide a group of discounted products in their supermarket (CrnÄÂan and et.al., 2017). So, it can be said that for completing this model and making company beneficial, it is important to analyse external; factors which can give opportunities and threats. With this tool some external opportunities and threats are being identified such as:
|
|
Strengths |
Weaknesses |
|
Opportunities |
low prices of companies products and discount stores is one of the main strength- it can give it opportunity to Develop new product categories and taking competitive advantages. |
Weakness of Aldi is its employees are not satisfied due to working in multiple shifts but with the help of external opportunity due to high unemployment rate it can attract wider range of skilled employees. |
|
Threats |
Strong customer loyalty and support towards product is other strength. This strength can help it out in decreasing external threat which is adapting changing needs of customers and maintain higher standard of living. |
Other weakness of this company is that it is largely depended on customers from low and medium income group and unable to attract customers from high income group. It can increase external threat of decreasing sale due to higher competition as it can snatch opportunities of competitive advantages. |
So, from the above, it can be said that there is strong connection between strengths and weaknesses with external opportunities and threats. In detailed manner it is described below:
Strengths/opportunities: Marketing organization audit is used as it evaluate performance of firm by taking into consideration its strength and factors that create opportunities. Strength means those qualities of organization which separates them from competitors. Whereas, Opportunities refer to those factors that help organization to earn a competitive advantage in market like increase in market share or sales of product. Effective product mix with variety of goods and services in their supermarkets is one of the effective strength of ALDI which helps it to attract customers easily and establish themselves as one of the leading company in market. With the help of this strength it can increase demand for product in market and have a huge impact on smooth working of business in economies (Kulshrestha and Puri, 2017).
Weaknesses/opportunities: Task environment audit is used as it pays emphases on factors that can affect performance of firm. Weakness means those areas where organization need to bring changes and require some improvement (Deepak and Jeyakumar, 2019). In the context of Aldi, it can be said that company has low margins due to their discounted products and affect overall relation with suppliers to maintain margin. This weakness can snatch some opportunities from it such as: invest in development and innovation in technology. Due to low margin and ineffective financial position, it cannot invest in technology by which it cannot take competitive advantages.
Strengths/threats: macro environment audit is taken into consideration. Great savings due to discounted product develop a positive image in mind of customers. This Strength can help it out in reducing threat of economic fluctuations. As if there is good condition of economy then it will help it out in retaining its customers as well as employees and it can also help it out in attracting wider range of customers for making a strong position in the market (Dimitrova and Desev, 2018).
Weaknesses/threats: Marketing system audit is taken into consideration as it ensures that staff is performing well or not and if not then try to find out main cause after this. Dissatisfied employees of ALDI is other main weakness. It is stated that working in multiple shifts frustrate employees as they find problems in maintaining high level of productivity for business. This weakness can increase threat of attracting skilled workforce and improving employment rate as per the governmental law and pressure (Szeliga-Duchnowska and Goranczewski, 2017).
Justify 3 Marketing objectives that help to express marketing campaign.
Marketing help to support organization's goals and contribute in overall success of business. Some of the marketing objectives that help Aldi to improve organization performance as follows.
- To increase sales by 30% within next 12 months.
- To open more branches in two more countries within 6 months
- To increase profit by 20% till the end of 2020
To increase sales by 30% within next 12 months
Aldi overall objective is to develop business and achieve goals and objectives. To expand business, company need to increase their sales (Gürel and Tat, 2017). Aldi objective is to increase sales by 30% with help of effective utilization for products and services. Marketing help company to grow digital presence for business at a large scale. Promotion of products largely depends on marketing efforts of business. Launching new products and offers with effective advertising help to attract customers and increase overall sales of business. Focus on sales help Aldi to increase revenue and gain more amount of money for business. Marketing help to increase awareness for product in mind of customers with development of brand loyalty to increase sales (Ozuem, 2016).
To open more branches in two more countries within 6 months
Main purpose of marketing is to help company to gain customers for increasing abilities of business. Aldi has already a loyal customer base but targeting new audience help to sustain and grow at a leading level. Marketing help company to promote huge savings on their products and develop outstanding value for business. Promotion of excellent quality help company to interact with new customers (Kayabasi and Mtetwa, 2016). Various advertisement on both TV and radio help company to connect with new customers. Aldi is a global brand and use various methods to communicate with their customers. Companies above the line and below the line strategies help to attract new customer's various campaigns like Swap & Save. Company have 12 months to increase engagement of new customers with effective marketing of their products and services.
To increase profit by 20% till the end of 2020
Increasing profit is one of the main objective of organization to achieve goals and objectives and establish their business at a large scale and improve effectiveness of products and services (Perera, 2017). Marketing play an important role to attract new customers and increase overall profitability for business and develop overall presence in market. Aldi aim to increase profit for their business in 12 months. Attractive marketing campaign help company to increase profitability and achieve goals easily. Company need to cut expenses and overhead and wastage of resources, marketing of high quality of products with higher margins increase profitability of business. To increase profitability of business Aldi need to expand business into a new market with effective marketing strategies. Growing market share of Aldi with innovative marketing strategies help company to achieve objective of increasing profitability by 20% help company to increase awareness about their products and services in market (Bucic, Ngo and Sinha, 2017).
Examine marketing mix plan in order to achieve objectives.
Marketing mix is an effective tool or strategy which company use to promote brand and its product in market. Plan help company to put right product at right time on right price. Organization need to know every aspect of business to prepare a marketing plan (Datta, Ailawadi and Van Heerde, 2017).
Product
Product is an item to satisfy the needs and wants of customers. Large number of organization ensure to develop right product according to demand of market. Marketers do a proper research on life cycle of product. Companies analyze features that their product provide to customers to satisfy their needs. In context of Aldi, company will sell their product in 5 categories and lot of variety available for customers in supermarket which will help them to increase sales by 30% within 12 months (Stead and Hastings, 2018). Company will also offer differentiated product as compared to competitors with features to satisfy their wants and achieve goals easily. Unique quality of product will help them to achieve objective to target new customers more easily (Rastogi and Trivedi, 2016). Customers will perceive Aldi product as high in quality as compare to competitors and they are willing to pay high prices which increase overall profitability of business by 20%. Aldi sell product that help customers to improve standard of living (Orchiston and Higham, 2016).
Price
Price is a value that customers pay to use a product or service. Product price largely depends on cost of production, target customers. Market ability to pay. Effective pricing help to differentiate from competitors and develop an image for product in market. In context of Aldi, company will use penetration pricing strategy which means charge low price for new product to help them enter market easily and gain a share which increase sales by 30% and profitability by 20% within 12 months period. Company will also use unit pricing strategy for their groceries product so that customer will be able to compare easily this strategy help to attract new customers towards business. In case of high competition company will price their product below the competitor's price which help them to engage customers easily and achieve goals and objectives of business (Liu and et.al., 2017).
Place
Place means a point of sale where buyer and seller both meet company set place for business where they are easily able to catch eye of consumer (Wu and Li, 2018). Attractive place plays an important role in success of business large number of businesses pay large amount to get right place. In context of Aldi company, company will increase its stores from 10000 stores all over the globe and store layouts will be simple and maintain minimum cost for the customers which will make them attract easily (Bennett, 2017). People will be able to reach stores easily which help company to increase sales of business by 30%. company provide availability of adequate parking space to customers.
Promotion
Promotion is one of the main activities that help to develop presence of business and product in market (Hastings and Stead, 2017). In context of Aldi, company puts less efforts and amount in marketing of products and services. Aldi is an international brand and to maintain presence all over the globe require promotion. Aim of this companies for the future is to promote their product with generating interest of customers towards their product. Company will target mass audience to improve brand recognition to achieve objective to target new customers. Aldi will use social media platforms like twitter and Facebook to attract customers easily towards their product (Jindal, Zhu Chintagunta and Dhar, 2019).
People
Companies analyze people and customers in target market to know enough people are available to achieve their goals and objectives. Employees are also important for business in marketing and delivering companies services to customers and for that they need to hire and train effective employees. In context of Aldi, company will maintain customer service because employees are not effective to assist customers to make choices. Company will divide everything in section which will help employees to attract customers easily and increase sales of business. Aldi will pay higher salary to their employees and provide proper training to new employees so they are able to treat customers easily and increases overall profitability of business (Meffert and et.al., 2018).
Process
Companies will make sure that effective process is adopted by organization to minimize cost of production (Goldberg, van Rensburg and van Staden, 2019). In the context of Aldi Company simple layout will make it easy for customers to find products. Company will use less high quality and priced brands to prevent consumers from being confused while selecting a product.
Physical evidence
Physical evidence means how a business and its products perceive in market it shows overall presence and establishment of business. In context of Aldi Company will provide cheaper products and keep prices low globally. Company will also maintain prices of grocery product which help them to increase sales of their product by 30% within period of 12 months.
Proposal on how ALDI improve customer service.
Overall success of organization largely depends on their customers they act as a lifeline for business and help company to grow at a large scale. Customers satisfaction help company to sustain in market for a long run. Companies need to work hard to retain customers. ALDI is a leading company in market and customer satisfaction play an important role in overall growth of business at a leading level (WONGMA, 2017). Strategies to increase customer satisfaction for Aldi are as follows.
Know your customers
Customers play an important role in success of business and companies need to know taste and preference of customers to provide them quality products and services. Company need to know what buyers want from business (Blut, Teller and Floh, 2018). In context of Aldi, company marketing program express ourselves help them to gain data of customer's profile and their behavior to provide products and services according to their needs and wants.
Offer personalized services
Business success largely depends on how they treat their customers. In the future Companies will provide offer notification and messages to customers to keep them engaged with organization working and also help them to improve loyalty of customers. In context of Aldi, it can be said that company can promote their offers and services over social media, Email and messages that will help them to keep their customers updated and help to increase sales and gain an advantage for development of business at a large scale.
Social media
Large number of people are available online and make it easy for organization to promote their products. Customers are able to share their experience with company's products and services over social media platforms. In context of Aldi company's express ourselves program will help to monitor customer's reactions to products and services (Datta, Ailawadi and Van Heerde, 2017). Keep proper track about brand presence. Social media platform for Aldi and express ourselves campaign help them to provide support to customers and solve their problems easily. Company will be able to engage customers easily with activities like contests, quiz and improve customer's satisfaction easily.
Provide additional benefits
Companies provide special benefits and offers to their customers to keep them connected with organization services. Additional benefits help to develop a positive image in mind of customers. In context of Aldi company will provide discounts and other regular and day to day offers for their products to engage customers and make them satisfy with business. Express ourselves campaign help them to promote their additional benefits easily. By providing post sales services like solving their queries quickly it can accomplish its all goals and increase customer's satisfaction.
Ask customers feedback
Customers feedback help to bring changes and improvement in organizations products and services. Help companies to know positive and negative affect of their services on customers. In context of Aldi to know their customer's preference and develop product according to their wants and desires and help them to achieve goals and objectives of business.
Analyze online comments
Online media become a major source of company to promote their products and also help them to gain customers feedback. Company analyze online comments of customers to make required changes in their products and services. In context of Aldi company needs to make itself able to get negative as well as positive impact of customers on their business (Vryoni, Bakirtzoglou and Ioannou, 2017). Company can analyze online comments to make their customers satisfy by making required changes in their products and services.
Focus on company culture
Organizations largely concentrated towards their company culture to make their customers satisfied with their products & services. In context of Aldi company's campaign express ourselves make customers aware about their company's culture to keep them satisfied and attracted towards organization.
CONCLUSION
The report will help to know that the marketing of Aldi helps the company to achieve the goals and objectives of the business. TOWS analysis show strength and weakness of organization which help company to expand business at a large scale and maintain effectiveness of products and services. It also has shown it the relationship between external opportunities and threats and ways by which its strengths can help it out in taking all opportunities. Companies marketing objectives is to increase sales and profitability as well as attract new customers within period of 12 months. Marketing mix help company to achieve objectives of business and maintain effectiveness of products and services. Company analyze their customers to improve their satisfaction and to provide quality products and services to their customers with help of marketing campaign. Take online assignment help in the UK from expert writers at the best price.
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