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Marketing Strategy and Marketing mix of Aldi

University: Regent college

  • Unit No: 2
  • Level: High school
  • Pages: 14 / Words 3558
  • Paper Type: Assignment
  • Course Code:

    N/A

  • Downloads: 31
Organization Selected : ALDI
Question :

This assessment will provide certain questions which are like:

  • What are the key roles and also effective functions of marketing in ALDI?
  • Give the marketing mix and their business objectives and functions
Answer :

INTRODUCTION

Marketing refers to the effective activities and process of an organisation associated with selling and buying a service or product (Astuti, Silalahi and Wijaya, 2015). It includes selling, delivering and advertising products to people. Marketing is essential for the company to improve their brand recognition and awareness. It creates trust and loyalty, with both current clients and prospects of business. It supports an enterprise to build credibility and authority as well as retain long run sustainability at large marketplace. In this report, given organisation is ALDI which is a part of retail industry in United Kingdom. It was founded by Karl Albrecht, Theo Albrecht in 1946. This report is divided in different parts which includes roles and responsibilities of marketing functions and interrelationships between functional department of company. At last, marketing mix and marketing plan of company is also included in this report.

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TASK 1

P1 Key roles and responsibilities of the marketing functions for the ALDI

Marketing function can be explained or defined as the responsibilities of business enterprise which supports it to analysis and source potentially successful goods for market and then supports in its promotion as well. Marketing functions are common in enterprise and involves product plan, marketing research, promotions, development process, customer service, finance and so on. These functions involve different roles and duties of the ALDI which help them to grow their at marketplace.

Concept of marketing, including future and current trends

Marketing concepts is classified into five main parts which depict the core and foremost of marketing at ALDI. These concepts involve the future as well as current trends for a marketing planning in successful manner (Bahadir, Bharadwaj and Srivastava, 2015). Production, selling, product, societal and marketing are main concepts which help an enterprise to identify customer's perception towards their brand.

Digital media in marketing is identify as current trends which help an enterprise to easily introduce their products or services to customers. In the recent times period, buying behaviours of customer is getting more difficult and complex for the ALDI. For this company use different innovative and unique marketing strategy such as mobile marketing, SEO and social media marketing to maximising customer base.

Future trend of the marketing involve: user generated content in order to attract new customers, maintaining transparency to develop effective and strong relationship with clients. It also involves mobile marketing strategy which will also support an organisation to introduce their products easily.

Beside this, ALDI must create a blog and their mobile application technology for their clients to attract more customers as well as achieve better outcomes within predetermined time period.

Overview of different marketing process

Marketing process is identified as an effective process of evaluating opportunities or chances in the market about selection of target markets, management of marketing efforts and development of marketing mix (Baker, 2016). Marketing process involves identification of mission, analysis of situation, objective development marketing strategy development, and evaluation and planning. Apart from this, for attracting large number of clients with effectiveness, it is essential for ALDI to create mission statement by examining both external and internal business environment. ALDI is a retail store that must create their marketing objectives and strategy only by considering those environments successfully.

Roles and responsibilities of marketing manager

Marketing manager of ALDI has different roles and responsibilities to innovate goods or services and retain long run sustainability for organisation. There are some roles and duties of marketing manager which are determined as under:

Development of the marketing strategy and plan: It is a role of marketing manager of ALDI in order to develop digital marketing, online advertising, direct marketing etc., to maximise customer base and increase their sales and profitability (Bowie and et. al., 2016).

Forecasting budget: It is another role of marketing manager is to keep budgeting and forecasting flexible, implement rolling budgets and forecasts, communicate early and often, include profit and cash flow goals etc.

Identifying and managing the marketing mix: It is important and main role which is play by the marketing manager of ALDI. Beside this, they identify market trends and customer need and develop new product or service according to them. Thus, it will support an enterprise to achieve better outcomes within predetermined time period.

P2 Roles and responsibilities of marketing related to the wider organisational context

ALDI is a retail store in UK and has different departments such as production, marketing, research and development, human resource management, finance and so on. All these departments are work together and have common motive to retain strong position of company at marketplace.

Marketing influence and interrelates with other functional department of ALDI

In the organisation, there are different departments that are work with each other. Some departments and their effects are explained as under:

Marketing and Human resource department: Marketing department of ALDI work with HR department by providing accurate and relevant information about candidates background etc. This information helps human resource manager to recruit and hire talented and knowledgeable candidates in the organisation (Dahl, Gorn and Weinberg, 2018). Thus, it effects on business sales and productivity because experienced people are able to easily attract customer's.

Marketing and finance: Role of finance department is to plan, audit, control and arrange sufficient amount of capital from different sources. Beside this, marketing manager of ALDI play vital role for searching best source from collecting sufficient amount of money for doing business operations and activities in systematic and successful manner. This relation also effects and impact on business functions and activities which is good for the success and growth of company.

Importance of marketing role

Marketing role is more essential and important for the ALDI to achieve long term goals and objectives within predetermined time period (Kraus and et. al., 2016). There are some importance and significance of marketing role which are determined as under:

  • Marketing support in development of the effective services as per the needs and wants of customers.
  • It is also essential and important in development of distribution channel.
  • This support in creation and development of competitive environment.
  • Importance and values of the marketing department of ALDI is satisfaction of the customer's needs and enhance clients by connecting them with another part of globe.

Significance of having effective interrelationships between different functional departments

Effective interrelationships among different departments of company support them to know clients with more effective and efficient manner. There is some significance of effective relations to ALDI are determined as under:

  • To maximise trust and respect among various department that supports them to understand their clients in more effective and efficient manner.
  • To increase effectiveness and importance in customer services (Lam and Harker, 2015).
  • Good and better interrelationship between various department develop a cooperative and collaborative work environment that support them in order to share exact requirement or needs so they can treat the clients with more effectiveness.

From the above mentioned information it can concluded that effective interrelationship between different departments support an organisation to retain strong position and goodwill in market. It is also significant for future growth and development of ALDI within predetermined time period.

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TASK 2

P3 7P's of marketing mix used by two organisations in similar sector to achieve overall business objectives

Marketing mix refers to the set of tactics or action that an organisation uses in order to promote its product or brand in the market. The 7P's make up a typical marketing mix elements such as price, product, place, promotion, physical evidence, process and people (Lovelock and Patterson, 2015). All these are essential and important for the development and growth of an organisation in limited time period. There are two organisation such as ALDI and WALMART, both are use marketing mix to advertise their goods or services to the customers. Marketing mix of both organisation are determined as under:

Marketing Mix

ALDI

WALMART

PRODUCT

ALDI is a reputable and famous brand and is emphasised on serving better quality products to its clients (Marketing mix of ALDI, 2018). Company offers different variety of food products to customers with its in-house such as Rich tea biscuits, Fresh fruits and vegetables, Clothes, Stationery, Health and beauty products, Electronic products, Soft tools, Household goods and many other (Pike, 2015).

Walmart is multinational retail organisation in UK and produce different products or services to the customers. Company mainly specialise in selling of movies, quality food products, Electronic items, home appliance, toys, outdoor living, jewellery, photo centre, funeral, grocery, video games and many other.

PRICE

The consumer market is very competitive with clients having a better choice. ALDI inquires and determines the requirement and desire of its customers and then takes accurate steps in order to fulfil those desire and demands through suitable pricing strategies. Company follow different types of pricing strategy such as unit pricing strategy, competitive pricing and many other. All this help Aldi to maximise customer base and achieve better outcomes within predetermined time period. The company has taken help of social media platforms like Twitter and Facebook to open two-way communication with its consumers. ALDI interacts via these mediums and encourages customer participation to create better brand visibility. It uses direct e-mails to promote its seasonal offers. The company has an official website that features its promotional messages like new campaigns as well as additional contents like weekly offers, recipes and new additions in its stores.

Walmart business model does not cover manufacturing of any type of product; it procures goods crosswise the world in big quantities to enjoy benefits or welfare of economies scale. Walmart uses various pricing concepts or strategy to get emphasis of the clients and stimulate a buying behaviour via discount strategies.

PLACE

ALDI is a supermarket chain and spread over various parts of the world. It has just about 10366 outlets in 20 nations like United States, United Kingdom, Portugal, Poland, Netherlands, Luxembourg, Italy, Switzerland, Spain, Slovenia, France, Denmark, China, Ireland, Hungary, Germany, Belgium, Austria and Australia. Thus, company produce their quality products and services in different countries which shows, ALDI is a famous and well-established brand name across the globe.

Walmart has approx 10,020 retail stores which is spread crosswise 28 nations and operates in 60 banners. Store operations of the company is categorized into different areas such as discount stores, super centres, neighbourhood markets, express stores and many other (Sethna, 2015). Thus, it proves, Walmart is a multinational brand name in across the globe.

PROMOTION

In order to promote and advertise their products or services to customers, ALDI has taken support of social media platforms like Facebook and Twitter. It is a open two-way communication with its clients. ALDI interacts through these mediums and promote clients participation to develop better brand visibility and awareness. Company follows direct e-mails to advertise its seasonal offers. An organisation has an official website that characteristic its promotional information like innovative campaigns as well as extra data like weekly recipes, offers, new additions in its stores and many other.

Company has their own in-store promotional channels and activities which covers sales promotion via bundling and their pricing strategies. In order to promote their products and services to the customers, company follow different marketing strategies such as social media marketing, mobile application and many other that support an enterprise to maximise customers base and accomplish better results within predetermined time duration.

PHYSICAL EVIDENCE

ALDI is internationally renowned or famous for simplest standardization, business process and international pricing (Srinivasan, Rutz and Pauwels, 2016). Company gives approx 30 percent cheaper products and create everyday minimum price the same internationally. Also, it is the main and only shop which retains the similar prices for groceries products throughout the globe.

Physical environment or evidence covers but not sufficient to entire the tangible representations of an organisation such as aprons, furniture, brochures, menu, business cards, letterhead, equipments, reports, signage and many other. Walmart has an excellent and effective logo which attract large number of customers towards business brand in effective and efficient manner.

PROCESS

ALDI by its absolute design in order to make finding of products very easy, and therefore clients generally choose the goods on their own which decrease the employees number that ALDI requires to supports the clients. Company creates limited number of better quality product, nominally priced product to prevent buyers from acquiring confused and this in move decrease the selection time. On the other hand, products of business have larger barcodes for speedy determination.

It is refer and identify as a set of activities which is perform in order to accomplish something. In Walmart offline stores, clients pick up their goods and go to clients assistants to pay. Company can also follow self-service machines in order to make payment more easy for the customers (Stead and Hastings, 2018).

PEOPLE

Company has lower service of customer than its challengers as workers do not support clients in selection of product, this is because business has precise thoughtfully put layout of stores where everything is classified into accurate sections which decrease the number of workers required on every floor.

In the organisation different number of employees work together. It is essential for the organisation to deal with customers easily. Company give more importance to the employees as compare to many other aspects.

TASK 3

P4 Marketing plan of ALDI

Marketing plan is identified as a business's operational document for advertising and outreach to create leads and search its target market. Marketing plan includes entire detail of an organisation which will support a customer to increase their awareness towards business brand. It is a systematic process which includes some steps (Stern and Porr, 2017). These are determined as under:

Executive summary: Main purpose of the ALDI is conducting marketing plan to introduce their new product such as Footwear for children and men. It is chosen as business is expanding their product in different places. Marketing plan covers all the details regarding ALDI vision, mission, overview, marketing strategy etc. All these are explained as under:

Background of ALDI: Aldi is private retail industry in the United Kingdom. It was founded in 1946 by Karl Albrecht and Theo Albrecht in different places. Company mainly specialise in selling and marketing of food, beverages, household goods etc. All these are currently available at marketplace with reasonable price. USP of the ALDI is to sell top quality at affordable prices.

Vision: Vision statement of the ALDI is to revolutionize the grocery sector with a unique and new business model.

Mission: Mission statement of ALDI is to maintain top quality at incredibly low prices guaranteed.

Objective: ALDI has SMART objectives to achieve better outcomes within predetermined time period.

  • To increase sales of footwear up to 10 % within 2 years.
  • To maximise variety of shoes within 1 year.
  • To achieve better growth and success in ½ year.

STP: This is one of the best marketing strategy which is used by ALDI in order to describe their segmentation, targeting and positioning.

Segmentation: Large number of person looking out in order to buy grocery items at competitive prices.

Targeting: Target audience of the ALDI is its individuals and households.

Positioning: ALDI is a best place which an individual reckon more with their private labels. Having strongly and better placed in Germany. Company is now trying to firmly best place itself in international marketplace.

SWOT Analysis: It is another important and essential analysis that define business performance. With the help of this analysis business can easily identify their strength, weakness, threats and opportunities (Tan and Sousa, 2015). SWOT analysis of ALDI is determined as under:

Strength

Weakness

  • ALDI provides better and top quality products at reasonable price to its clients.
  • Company has strong and effective presences in Germany with over 2500 outlets.
  • ALDI offers a variety and different product portfolio at their stores.
  • Poor channels of promotions is identify as its biggest weak point that effects on their business operations.
  • Poor penetration in high-income groups.
  • Poor satisfaction of employees which will highly effect on company and its operations in direct manner.
 

Threats

Opportunities

  • One of the main threat for ALDI is its competitors such as Walmart, TESCO, Waitrose etc.
  • Taxation and policies of government can impact on business margarines and sales.
  • ALDI requires to invest more amount of capital in advertising product to beat competition.
  • Expanding business operations into growing countries such as Africa, Asia etc.
  • Implementing different digital technology such as social media, mobile application to beat competition.
 

Marketing Budget: It is that a cost sheet of company that will be required to advertise their new product or services at market.

Monitoring and controlling: It is recognised as a last step of marketing plan. In this marketing manager of ALDI control and monitor all activities of marketing plan in a systematic and accurate manner. Thus, marketing plan is essential and significant for the success and development of company within predetermined time period (Tan and Sousa, 2015). Along with this, business manager plays vital role for identifying the source of fund where they can easily collect accurate amount of capital and do their business operations and activities systematically.

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CONCLUSION

From the above mentioned information it can be concluded that marketing is essential concept for the organisation to maximise customer base and improve their brand awareness. In order to attract large number of customer’s company use digital media such as social media marketing and mobile application. Both are identified as best way for the organisation to easily introduce their products or services at marketplace. Marketing mix is also identified as an essential and useful part of marketing which is used by an organisation to innovate their new product or service features to customers. For this, company need to prepare a marketing plan which includes entire details about its SWOT analysis, STP, vision, mission, SMART objectives and many other useful information. All this data help the customer's to increase their awareness about business brand. Thus, it is essential for the growth and development of company within predetermined time period.

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