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Marketing Management Objectives

University: University of Suffolk

  • Unit No: 6
  • Level: High school
  • Pages: 14 / Words 3410
  • Paper Type: Assignment
  • Course Code: N/A
  • Downloads: 292
Question :

This sample will let you know about:

  • Discuss about the TOWS analysis.
  • Discuss about the marketing objectives of ALDI.
  • Discuss about the ALDI strengths and weaknesses .
Answer :
Organization Selected : ALDI

INTRODUCTION

Marketing management can be defined as a process of planning, organising as well as implementing several strategies, practices and policies of marketing that are designed for creating and satisfying the demand of customers for their offerings with the motive of earning profits (Deepak, 2019). It is mainly focused on managing the company's resources and activities of marketing along with the tools, techniques and methods so that they can be able to achieve objectives. The marketing management is essential for all businesses as it helps in identifying the needs and expectations of customers and increasing offerings for the better customer satisfaction and with the help of this they can able to reach to their potential consumers. This assignment is based on the ALDI which is a retail supermarket chain along with the over 10000 stores in approx. 20 nations. Marketing consultant of company have decided to run intensive marketing campaign during 12 months with the tag line of “Expressive Ourselves”. In this report, the marketing audit along with the TOWS analysis of company are constructed and on the basis of these the 3 main objectives of respective campaign is also justified. Also, discuss about the marketing mix plan of campaign for attaining specific objectives as well as lastly, prepare proposal on how company improves customer services by this campaign.

1) Construct marketing TOWS for ALDI, discussing the market audits.

TOWS analysis is a variant of SWOT analysis that are used as a strategic planning tool which can add value to a business and helps them to take strategic planning a one step further. Whereas marketing audit is defined as a systematic analysis of marketing activities, objectives, goals of ALDI supermarkets with which company will be able to analyse market opportunities and threats along with their strengths and weaknesses (Weinstein, 2015).

Internal strength of ALDI:

  • The company has low cost structure that helps in producing offerings at low cost and sell it on low prices which makes affordable for their customers.
  • ALDI has many outlets in various states which is highly supported by strong distribution network that ensures that their products availability is easy and approachable on time.
  • Company has large product portfolio which are unique and innovative in itself as well as the social media presence is also high.

Internal weakness of ALDI:

  • The cost or expenses of research and development is high that results in the high expenses which considered as a weakness of company.
  • The company has not conducted appropriate market research so that they can not make effective decisions which can lead negative because of not satisfying the customers demand on time (Bagozzi, 2018).
  • ALDI has high employee turnover rate in comparison of their competitors which is the weakness of company and they require more training and development expenses for retain their employees.

External opportunities:

  • Technologies may become upgraded so that the operations of company can be automated in order to reduce.
  • ALDI can open their online stores and making sales through these leads the high revenue generation.
  • Population has been rapidly increasing so the company has an opportunity to increase their potential customers which can be targeted.

External threats:

  • Technological development by the competitors of ALDI creates threats for the success of company because customers are attracted towards the new technologies.
  • Increased market competition may put pressure on reducing prices so it creates threats for company as it could lead in loosing market shares and revenue as well.
  • Taste and preferences of consumers are rapidly changing that could lead changes in demand which creates threat for company as they require to introduce new offerings. Ask for assignment writing help from our experts!

TOWS analysis:

It is a most effective tool that is used by ALDI in order to generate, compare as well as choose strategies (Baker, 2016). There are mainly four strategies of this analysis such as strength/opportunity, weakness / opportunity, strength/ threat, weakness/ threat. In order to study about the marketing TOWS of ALDI, marketing audit can be done so that company is able to make their own marketing audit plan by considering different areas. Such strategies are as follows:

  • Strength/opportunity: In this, company can use their strengths for exploiting the market opportunities by conducting proper marketing audit. This strategy is termed as a Maxi-Maxi strategy in which ALDI has high potentials for the success. In this, the company's strength like low cost structure could be combined with the opportunity of targeting large number of people due to the increasing population. For analysing SO strategy company use environmental marketing audit in order to analyse external markets and formulate appropriate strategies in order to grab opportunities by using strengths.
  • Weakness / opportunity: In this type of strategy, a marketing consultant of ALDI would find alternatives in order to overcome from weaknesses and grab opportunities on time. So they need to mitigate company's weaknesses and exploit opportunities that are considered as a Mini-Maxi strategy of marketing. In this, company may have an opportunity to bring automation in their operations by using latest technologies for the purpose of reducing the weak area of company's marketing related to the appropriate market research which will help in satisfying customers requirements on time. For analysing the WO strategy marketing consultant of ALDI use marketing organisation audit in order to emphasise on overcoming from weaknesses and exploit market opportunities (Mason, 2015).
  • Strength/ threat: It is related to that kind of strategy in which marketing consultant of ALDI would exploit company's strengths in order to deal with the potential threats. It is associated with the Maxi-Mini strategy in which company's strengths are used for minimising the threats. As ALDI'S marketing consultant more focused on product portfolio and facilitate several new offerings rapidly so that customers are easily attracted and make loyal towards the brand that will result in that they lead competitiveness in the market by avoiding the threat of competition which does not impact on their prices, revenue, market shares and sales.
  • Weakness/ threat: It is termed as a least appealing strategy in which consultant would enthusiasm by using weaknesses for dealing with threats or it can be said that this strategy is attempting for minimising a weakness to avoid possible threat. It is termed as a Mini-Mini strategy. In this, consultant of ALDI focus on organising training and development programmes in order to minimise the turnover ration of employees and trained or educated them so that company is able to avoid threat of technological development (Du Preez, 2015). In order to compete with their competitors company focused on educating their staff members so that they can able to develop latest technologies easily and lead competitive position in the market.

2) On the basis of TOWS findings justify 3 marketing objectives for the 'Express Ourselves' marketing campaign of ALDI over 12 months.

From the above findings it can be said that there are various strengths and weaknesses that are related to ALDI on the basis of which the company functions and operates in the market and provides its products and services to customers. The company strengths are that it has a strong distribution network which help it in reaching to its potential market on time so that the needs of customers can be satisfied properly. Also the company has a low cost structure which means that it can provide goods and services to customers at reasonable rates and at high quality which help in creating high value for customers (Al Fahad, 2015). Further due to the discounted prices the company is able to satisfy its customers which help it in building a strong brand image in market so that more number of customers can be attracted. However there are also weaknesses which are identified based on TOWS of company like the company is unable to satisfy its employees which leads to high attrition rate in workforce. This also increases company's training and development costs when it make fresh recruits. The company also need to make more investments in technology so that the experience of customers while shopping can be enhanced. Following marketing objectives for 'Expressing Ourselves' campaign are:

  • To increase its sales by 10% in 3 months through increased promotion of the campaign on social media.
  • To increase the retention of employees by 20% within 6 months by increasing training and development of employees so that they can acquire the necessary skills and talents.
  • To increase customer satisfaction by 25% through this campaign within the 12 months of period by giving complete information about products to customers and increased R&D.

As the company has a strong brand image in market and offers its products and services to customers at lower rates it can increase its sales by 10% within the specific time bound. So it can be justify that objectives are always SMART means specific, measurable, achievable, realistic and time bound so that achievement of these objectives can be attained effectively. The above objectives are sets by ALDI in order to build their customer base by promoting awareness of their products as well as lead sustainable sales and revenue through the successful marketing campaigns of “Express Ourselves”. As the objectives of ALDI'S towards the campaign are formed in a specific manner that are properly measurable as well as achievable in the specific time period (Ramanathan, 2017). The company has strong financial position or portfolio and provides effective training sessions to their employees which will reduce the employee turnover rate and increase their retention by 20%. The company ALDI'S runs intensive marketing campaign during the 1 year of 1st May 2020 to 30th April 2021 so that they hire marketing assistant in order to run their campaign in a successful way so that they prepare appropriate and SMART objectives which helps in accomplishing the goals of company. Need Assignment Examples?Talk to our Experts!

3) Marketing mix plan for accomplishing objectives.

Marketing mix is defined as a strategic tool that can be used by the businesses in order to promote their goods and services in the market and it is based on the concept of putting right offerings in the right market at a right time and price. This tool is most effective to use as marketing consultant of ALDI use this in order to know that what offerings can offer and how to plan for the success of businesses (Tortorella, 2015). It mainly based on 4 mix such as product, price, place, promotion etc. In addition, there are 3 more mix like people, process, physical evidence that ensures the implementation of successful marketing strategy. With the help of marketing mix company is able to create right and effective marketing strategies as well as implement those strategies in a most appropriate manner that results in the high awareness of products along with the sales, profit and customer satisfaction. The marketing mix of ALDI Supermarket are discussed as below:

Basis

Definition

ALDI Supermarkets

Product

It is defined as a goods and services that are produced for the purpose of making sales and it involves features, performance, competition, design as well as manufacturing issues.

The company offers a wide range of products to their customers which includes bakery, fresh food, drinks, pet care, health and beauty, households etc. It sells good number of their own private label brands with their offerings.

Price

It shows the worth of products and services which includes many factors like cost, supply chain, competition, pricing strategy, consumer demographics etc. that need to be considered while deciding the price of products.

The company ALDI is famous for discounting pricing that facilitates better value and superior quality. So the prices of their products are low or cheap as compared to their rivals which are economic and easily affordable by all people of society (Cacciolatti, 2016).

Place

It refers to the physical location where goods and services are offered to the customers for selling purpose. Some of the factors of place mix are retail or wholesale channel, geography, web sites, distribution etc.

ALDI has more than 10000 stores across the world in approximate 20 countries as customers can visit its nearest stores or shop online. Customers can also choose Collect-plus option for delivery and collect orders from chosen collection points in UK within the 3-5 working days of orders that being proceed.

Promotion

It is mainly used for promoting the offerings of businesses to their customers and make them aware about the details of specific products. By using media, word of mouth, social media campaigns, contests, advertisement, direct marketing and so on.

ALDI promotes their offerings by organising campaigns by using effective and attractive tag line such as “Express ourselves” which will help in gaining more customer satisfaction and awareness that lead to the high sales of products. Along with this, they can use social media marketing, advertisements, public relation, newspapers, sales promotion etc. to promote their products to the large customer base.

Process

It is a system of company in which they facilitates their services, collect payments, pay all expenses and so on activities that are associated with this (Stead, 2018).

ALDI use sheer layouts that makes the finding of products very easy so that customers choose products on their own basis that decreases the number of workers of company in order to assist their customers. Also, the company keeps less number of better quality and nominal pricing brands which prevents customers from getting confused as well as lead to the less time of selection.

People

It is defined as an individual or team members that supports businesses to grow and success as they are marketers, consultant, customer service, service providers etc.

People of ALDI has low customer services as their employees are not involved in the product selection because they divided their stores layout in a very thoughtful way so employees requirement is less at the floor of supermarkets. For billing and payments employees are seated that makes their method easy by scanning their products.

Physical evidence

It is considered as an evidence of products and services or brand within the market that creates perception or presence of company in the minds of customers.

Mainly, their retail stores and outlets are considered as a physical evidence along with the bags, invoices etc. and customers are provided by these things as an evidence of purchasing and payments.

4) Proposal on how ALDI can improve customer services as a part of Express Ourselves marketing campaign.

There are several things that should be considered by the company ALDI Supermarket in order to increase their customer services or experience with respect of their marketing campaign as well. Numerous skills are also important for the marketing consultant to provide better services to their customers such includes attentiveness, patience, ability to communicate, time management skills etc. that is required for the successful management of marketing campaign. Some of the proposals or recommendations are as follows:

Use CRM platform: As most of the companies struggle while establishing coordination among different teams that often lead towards the customer satisfaction. For solving this issue, company using smart CRM platform in order to ensure that all members is on the same page that is essential for ALDI to establish high customer service standards. It helps in more customer interaction, engagement as well as develop long term relationship with customers (Kerin, 2015).

Provide strength to the customer service team: If company can develop their team members of customer service providers then they can able to strengthen their service performance. So, the marketing consultant of ALDI Supermarket needs to recruit skilled and talented professionals along with the appropriate skills for managing the marketing campaign related to Express Ourselves. Also they requires patience, empathy, right knowledge, better communication skills etc. so that they can able to gain better customers services and performance.

Seek customer feedbacks: In order to facilitate better customer experience as a part of marketing campaign of ALDI Supermarket the marketing consultant require to understand the gain and painful points along with their requirements. Consultant facilitate customers with different ways in order to share their feedbacks such as telephone, emails, surveys etc. Also, they can develop complaint system that will enables customers to raise their problems or complaints. This type of strategy helps customers to feel that company value them and solve their issues timely which can assist to build trust and able to prevent negative reviews of company on social media (Kotler, 2018).

Leverage multi channel servicing: Most of the population prefer to purchase from that brand which offers consistent customer services over the multiple channels. So the marketing consultant of ALDI should enable customers to switch between the multiple channels yet satisfying or enjoying a consistent quality of company's services. It can help in boosting the ALDI'S credibility and reputation in the market. There are numerous practices that are used by the consultant in order to organise marketing campaign effectively and facilitate better customer services which includes social media, mobile devices, self service etc. Get marketing assignment help Now!!

Some of the other tips also that can be used for increasing the customer services of ALDI regarding marketing campaign of Express Ourselves. Such as follows:

  • In order to gain better market image the consultant and team members requires to show some care so that they can trust on company and make loyal.
  • In order to retain employees the consultant need to facilitate appropriate training session so that they can able to enhance their skills and knowledge and reduce employee turnover ratio.
  • They can develop their own loyalty program in order to show employees their appreciation as well as respect for being loyal towards their brand. 

CONCLUSION

It has been concluded from the above discussion that marketing management is essential for the organisation in order to promote their awareness and build large base of customers to sale their products and services. As the marketing consultant prepares a marketing campaign plan for a company by following several strategies, tools, practices of effective marketing management. Also, done the TOWS analysis of company in order to know about their internal and external strengths and weaknesses and grab opportunities by avoiding threats by appropriately doing marketing audit like organisation audit. On the behalf of TOWS findings consultant formulate and justify their campaign objectives and prepare a systematic marketing mix plan for achieving these objectives. Lastly, design a proposals for recommending the improvement strategies of their customer services as a part of their

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