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PM206 Marketing Essentials Level 5 Plymouth University

3757Downloads1 I Published: 18 May ,2020

INTRODUCTION

Marketing is the process by which an organisation create value for clients and make better relationship with them in order to achieve long term goals and objectives. Marketing is one of the best tool which is apply by the each and every enterprise with motive to develop strong position in marketplace (Marketing Functions, 2017). Thus, it is a management process which support the business entity for identifying, anticipating and satisfying basic needs and requirements of customers. Marketing is more essential and beneficial techniques for consumers as well as organisations in different terms like maximise living standard, employment opportunities, economic stability, develops utility and satisfaction of individual wants (Asaduzzaman, Hossain and Rahman, 2014). In case of organisation, marketing help in gathering important information, increasing sales, channel and source of innovative plan and decision-making. Thus, marketing is necessary and significant tool for each and everyone. In this assignment chosen organisation is ALDI, it is a common brand of two discount supermarket chain. They provide different products such as food and beverage and many households goods to the customers at reasonable price. Roles of marketing functions and inter-link with functional unit of organisation are determined this report. Marketing plan and 7P's of marketing mix which is also determined in this study.

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TASK 1

P1. Roles and responsibilities of marketing function

Marketing is main and important function which is follow by all enterprise with purpose to maximise their strong position in market. It is beneficial tool for the business organisation to innovate and introduce their new services and products to the customers by applying different kind of promotional mix such as advertisement, public relation, sales promotion, publicity and so on. Thus, in the organisation, marketing play vital role for the success and growth of the company. ALDI is a supermarket chain across the world and in this they highly needed to apply different kind of marketing function in their business operations and functions (Black, 2013). Therefore, they use various function of marketing which are determined as below:

Market information: Information related to the marketing is one of the main and foremost function. In this role of the marketing manager is to analysis basic information related to the market and customers. So that they are understood regarding customer and market needs they can easily fulfil their demands and wants.

Market planning: It is another important part of the marketing function which is essential for the business organisation in order to plan an effective strategy and policy for achievement of long term targets. In this manager of the ALDI plan and design a better plan of action that support them to accomplish their predetermined objectives.

Product designing and development: ALDI deals in different kind of food and beverage products and in their they highly required to design their products. This function benefited the business to attract large number of audience and maximise their sales and revenues.

Pricing: Price of the product is totally based on market demands and wants. In this company set appropriate price for their products (Chamorro-Mera, Miranda and Rubio, 2014). Thus, this function of marketing help the company to maintain their long-lasting and strong position at marketplace. ALDI use different kind of pricing strategy for their products such as competitive, Psychological and loss leader pricing. All these are highly essential for the company to gain competitive advantages in limited time duration.

Product or service management: Product and service both are the main and critical part of the business success and development. In this role of the manager is to mange all activities and function of the company in systematic manner. This function assist the organisation to attract large number of clients by providing better quality in their food and beverage.

Distributions: ALDI is a biggest supermarket chain across the world. Company has their different stores in various countries. Thus, it is shown as it business has better position in marketplace. Further, they try to expand their business operation at international level so in this they try to innovate their products and services which help them to maximise their turnover.

Financing: Finance and money is more essential function of the marketing which play vital role in the organisation for doing all activities and functions in systematic manner. This function is important for the ALDI to arrange proper amount of the money by following different resources such as long and short term loan of bank and many other (Getnet, Kedir and Yousuf, 2014).

Selling: It is another important function in this business entity sell their products to the end user. In order to attract maximum number of the in their organisation company try to provide quality products and services to the customers.

Promotion: It is identify as one of the main and essential function of marketing which is used by the all organisation with purpose to advertise their new products and services in marketplace. In this company apply different kind of promotional mix like, publicity, sales promotion, advertisement and many other essential tools. These adverts show that Aldi products are of equal quality to famous and popular brands for instance, Heinz tomato ketch up, Pampers diapers and Fairy Liquid.

Different role of the marketing functions: Function of marketing is biggest and essential which play important role in the organisation (Ionitã, 2012). These are some roles and responsibility of marketing functions which are determined as below:

  • Main role is to introduced new products and services of the company in marketplace as well as to customer also.
  • Another role is to accomplish long term goals and predetermined objectives of the firm in limited time duration.
  • Marketing function help an enterprise to attract large number of customers towards business products and services.

M1. Duties of marketing with respect to marketing environment

Marketing has different roles and responsibility in the organisation which help them to maximise their sales and profit. There are some roles of marketing in the context of marketing environment are explained as below:

Market segmentation:It is the main role of the marketing which is important for the ALDI to classified their products at different marketplace. Thus, it is benefited to them to improve their position at marketplace.

Brand Equity: This function is also essential for the company to maintain their strong position at marketplace. In this company provide quality products and services to the clients at reasonable price that support to maximise their sales and profit in limited time period.

Marketing research: It is the role and responsibility of marketing manager in order to conduct an effective research (Jacobs, MacRae and Sladyk, 2017). It is helpful function for the company because in which they can easily identity the basic needs and wants of the customers.

P2. Relation of roles and responsibilities with wider context of organisation

Marketing is important factor for the each and every department of the organisation. Entire success and development of the business entity is totally depends on marketing tool. ALDI is a retail store which has different departments in the organisation such as production, human resource, research and development, sales, Finance, distribution, administration and many other departments. All these are play vital role in the success and progress of company. It is not possible and achievable without applying tools and technique's of marketing. All these departments are determined as below:

Human resource: In the ALDI, this department have different responsibility in the context of hiring and recruiting talented workforce either internal and external. Another role of this division is to provide proper training and development to the employees (Khan and Adil, 2013). Now they are capable to complete all tasks and functions of the company in given time period. On the other side marketing is also beneficial for the enterprise to provide basic information related to the job vacancy. Thus, both are important necessary part for the development and growth of company.

Research and development: Role of this division is to conduct research events for purpose of identifying the basic wants and needs of the clients towards ALDI products and services. It is possible with the use of marketing tools. In this company follow different kind of primary and secondary resources including survey, online methods and many other. Thus, it shown as marketing and department of the business organisation inter-link with each other.

Sales: In order to provide goods to the customer at reasonable price, sales department play vital role. Thus, it is beneficial for the growth and development of company. On the other hand, marketing is also important part of the company because in which it play critical role for attracting large number of customers. From the same, business use different kind of promotional channel like advertisement on social and print media, publicity with the help of celebrity, public relation and many other. Thus, sales department and marketing are interrelated with together and have same motto to to gain maximum amount of the money.

Finance: In the business finance is necessary part for all activities and function of company. In this main role of finance manager is to arrange accurate amount of capital (Kwon and et. al., 2017). In this they follow different resources of the finance such as bank loan, hire purchase, friend & relatives and many other. All these are possible with the use of different marketing because in which it play critical role for choosing one of the best source. Thus, both are inter-link with each other and have same motto to accomplish predetermined objective of ALDI.

Administration: This is another department in the organisation which has different role in managing and controlling all activities and functions of company in limited time period. For achievement of this, marketing manager play essential role in using different kind of useful tools and technique's. In this they mainly focus on motivating their employees by using various types of motivation theory. Thus, both such as marketing and administration department of ALDI interrelated with each other. It is essential for the development and progress of business entity in future time period.

Distribution: This department has various kind of role and responsibility for distributing all work and tasks to the employees as per its capability and skill. Thus, it is beneficial for the company to maintain better relation with employees. On the other hand, marketing department also have different duties for using leadership and management theory which help them to complete all work in allotted time (Lin, Li and Wang, 2015) Thus, it is shown that distribution and marketing function are important part for the development and success of organisation.

Production: Role of this department is to provide and manufacture goods in systematic manner. Main duty is to improve product and service quality which help them to attract different number of audience towards food and beverage of ALDI products. Beside this, marketing is also0 important and valuable tool for the company to use innovate their product and sell it to the end user with the use of transportation services. Production department and marketing both are useful for the business entity because it support them to accomplish their long term targets.

M2. Significance of inter-relationship between marketing and other functional unit

In the ALDI different departments are work with each other and have different motive to achieve long term advantages and benefits for the company. These is achievable with the of marketing because without this tool they can not do their all activities in proper manner. Better interrelation assist the company to increase their profitability and productivity ratio. Further, it support to maximise their better and strong position in market (Natarajan and et. al., 2013). Another benefit and importance of inter-link between functional unit and marketing is to gain competitive advantages. It is also helpful to compete different number of challenger's who are existing in marketplace and render same kind of the products and services to the customers.

D1. Critically evaluate the key element of marketing function

According to the Tang, (2012) marketing function has different key elements which support the business entity to maximise their sales and customer response in the organisation. There are mainly four kind of important and core function of marketing which are explained as below:

Research: It is first and necessary part for the ALDI to do effective marketing research which is valuable for them to recognise basic wants and needs of the customer. It is also helpful for gathering important information about the taste and preferences of clients.

Strategy: It is the main role of manager is to plan an effective strategy which help entire workforce to complete all work and activity in given time period. Proper plan of action and strategy support the business to maximise their sales.

Planing: This is identify as a core and main element of marketing in which manager play vital role in plaining of effective strategy and policy that to do all activities in systematic manner. Therefore, it support the company to maintain long term and strong relation with customer (Ogunmokun and Tang, 2012).

Tactics: Last and important function of marketing, it is more essential for the business administrator to apply digitalisation and innovation in their operations. Thus, it help company to save their time and money.

TASK 2

P3. Comparison of marketing mix applied by different companies

Marketing mix is necessary element for the enterprise and it is useful for them to introduce their services and new flavour in food and beverages to the large number of population. Marketing mix is also known as 7P's including product, place, price, promotion, people, process and physical evidence (Papasolomou and Melanthiou, 2012). All these are elements are show the business position at marketplace. In this task, there are another chosen organisation is TESCO, it is a retail store which is located in United Kingdom. So that marketing mix between ALDI and TESCO are explained as below:

Marketing Mix

ALDI

TESCO

Product

Product is main and foremost element for the business growth and success. ALDI is retail store which deals in different variety of food and beverages such as beauty and health products, electronic products, clothes, households goods, stationery and soft tools. All these products currently available at marketplace.

TESCO has a different range of products providing at its large number of stores. They render various products like: Food, Pet care products, Frozen food, Beverages, Technology and Bakery products, gaming products, Home and garden products, Do-it-yourself (DIY) Toys, and car products, Baby and toddler products, Sports and leisure products, Party and gift products, Clothing and jewellery, Health and beauty products, Entertainment and books.

Price

Price of the ALDI products are different as per its quality as well as quantity also (Peck and Hall, 2013). They use different types of pricing strategy for their food and beverages such as competitive, loss leader and psychological. All these are suitable for the company and increase customer response in the organisation.

TESCO apply cost leadership pricing strategy which assist them to increase customer response in organisation. Company provides stable and low prices, after receiving commends from its clients company cut down their promotional outgo to further lower prices.

Place

Stores of the ALDI in 18 countries are 8000 plus, thus it identify as a company is well-established and famous across the globe. In thus business entity supply their all products and services in bulk from large number of provider and stores them at general warehouse. Thus, it is essential part for the company to maximise their sales.

In 11 countries company has 6900 plus stores including metro, express, superstore, Extra etc. TESCO products are available at different places which is good for them to maximise their reputation and goodwill at international level. This part of the marketing mix show the business strength which help to overcome their weakness.

Promotion

Under the marketing maxi strategy, promotion activities of ALDI is comprehensive. In the Australia, UK, and US markets company creates extensive use of display, electronic and print media in order to promotes and advertise its stores. Thus, it is important to promote their services as well as products in market and to the audience in systematic and easy way.

In order to promote their services and products, Tesco uses television ads, hoardings, and charitable events as a type of promotional channels. Company also sells and advertise its products online (Rossi, Allenby and McCulloch, 2012). Thus, it is highly beneficial for the business to attract different customers and increase their revenue in limited time duration.

People

Company has minimum customer service than its challenger as workers do not help clients in selection of product, this is because they has thoughtfully put layout where all things are classified into accurate section which decrease number of workforce required on each and every floor. ALDI pays its workers higher than its challengers and gives on the job training and learning to new workforce.

In the organisation different employees are work with the motto to gain competitive advantages in limited time period. There are approx 480,000 worker in 11 markets across the world. In this manager of the company play vital role for providing accurate training to their employees. So they are capable to deal difficult situation easily.

Process

It is another and important part of the marketing mix. They apply different process in providing their goods to their end user which is very simple. Thus, it attract different number of clients (Shukla, 2015). Further, it is important for them to develop an effective relation with employees as well as customer also.

Process is more important and beneficial part in the company because its totally depends on production process and many other. The other factors that are reasoned are the service feature accessibility and capacity levels of product production. Thus, it important for the company to maximise their sales.

Physical Evidence

ALDI is renowned and well-established for simplest business standardisation, process and global pricing. They renders 30% cheaper goods and maintain everybody low prices. It is important factor for the company to keep better relation with customers and employees.

The physical evidence base as a evidence of reliable products provided to the clients. The logos, labels, colours, and many other equipment are a some of the physical evidence that’s utilised by Tesco as a impervious to its consumers.

M3. Evaluate different tactics chosen by ALDI to achieve business objective

There are different tactics and tools which are follow by the ALDI in order to promote their services and products. In this they mainly follow 7P's of marketing mix because it is useful for them to innovate their all new and effective goods in marketplace. They also apply promotional technique which assist to easily attract large number of clients. This tool includes different kind of social, print and display media. All these are useful and essential for them to maximise their turnover in certain time period.

TASK 3

P4. Marketing plan for ALDI

Marketing plan is a framework which is design by the all enterprise. Main purpose and motto of this plan is to describing entire information and data regarding business (Solutions, 2011). This plan is incomplete without business overview, marketing objectives, mission, vision, budget, competitor strategy and SWOT analysis. All these are explained as below:

Overview of ALDI: It is a common and Well-established brand of two discount supermarket chain. This business was founded by the Theo and Karl Albrecht in 1913 which is located in UK. ALDI deals in different kind of products like beverage and food, electronic products, households goods, soft tools, stationery and many other products. In the organisation different number of workforce are work and all members has motive is to gain competitive edge within an organisation.

Vision:To revolutionize the grocery sector with an unique and effective business model”.

Mission: “ALDI Promise top quality at incredibly low prices guaranteed”.

Objective: “ALDI objective is to gain maximum amount of the money by satisfying basic needs and wants of customers”.

SWOT Analysis: It is main part of the company which shows its internal and external factor (Wright, 2015). In this they can identify their strength & weakness and Threats & Opportunities.

Strengths

Weaknesses

  • Well-established brand name across the world.
  • Quick shopping experience.
  • Low pricing strategy.
  • Limited services and products.
  • Quality perception.
  • Customer services.

Opportunities

Threats

  • Use of advanced technology
  • Continue expansion at different and international level.
  • To maintain strong and better relation with customers.
  • Online shopping
  • German market has flat and mature outlook.
  • Stagnant domestic growth.

STP Approach:

Segmentation

Different people seeing out to purchase grocery and food at cheaper as well as competitive prices also.

Targeting

They targeted Households as well as middle, lower and middle class population.

Positioning

Position of business products is well-established and famous across the globe.

Competitor Analysis: In the marketplace ALDI has different number of challenger who are produce same kind of services and products to the customers (Xiao-zhong, 2012). These are TESCO, LIDL and so on. In order to compete them, company produce their products at reasonable prices which help them to improve their position at marketplace.

Marketing Budget:

Marketing budget

 

Particulars

1st year

2nd year

3rd year

4th year

5th year

Initial money

12000

11000

10000

9000

8000

Investment of finance

 

9000

8000

7000

7000

Net Total

12000

20000

18000

16000

15000

Outlay of marketing

         

Promotion and publicity

7000

7000

7000

7000

7000

Advertisement

10000

10000

10000

10000

10000

Direct selling

9000

9000

9000

9000

9000

Grand Total

38000

46000

44000

42000

41000

Monitoring and Controlling: It is a last part of the marketing plan which is important for the business to manage all activities in an effective manner. In this manager also play essential for planning of accurate budget, strategies and policies. All these are important for the business success and development (Xiao-zhong, 2012).

M4. Produce detailed marketing plan for ALDI

Marketing plan is a part of business introduction which is important for them to identify response of customers towards company products, services, process, technology, structure, objectives and many other. This plan includes different elements like company overview, objectives, mission, vision, SWOT analysis and many other information. All these data are highly beneficial for their success and growth (Asaduzzaman, Hossain and Rahman, 2014).

D2. Design marketing plan with the use of 7Ps

Marketing mix is the main part of the marketing plan which includes 7P's such as product, place, price, physical evidence, people, process and people. All these are explained as below:

Product: Products of the ALDI is divided into different categories such as food and beverages electronic products, beauty and health products, households goods, clothes, soft tools and stationery.

Price: They use various kind of pricing scheme for their products such as competitive, psychological and loss leader.

Place: ALDI stores in 18 countries are approx 8000 +. Company products are available at different countries and places.

Promotion: In order to promote or advertise their products, ALDI creates large use of display, print and electronic media.

People: In the organisation different number of workforce are employ with aim to maximise and increase sales of company easily.

Process: Company use very simple process of production which is essential for them because in this they save their time as well as cost also (Black, 2013).

Physical Evidence: ALDI is well-established for easy business process, global pricing and standardisation. They give 30% low-budget goods and keep everybody low prices.

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CONCLUSION

From the above mentioned report, it can be determined about the importance and significance of marketing to the organisational and society. It is fundamentally more essential for the company to maximise their revenues by providing effective and better quality in their products and services. Marketing function play different role which is good for the firm to attract large number of audience towards food and beverages of business. Marketing and functional unit of the company are inter-link which is significances for the organisation to improve their productivity and profitability. Further, marketing mix play vital role in introducing new services and goods to the customer, it is benefited to the business to gain competitive advantages easily. Further, marketing plan is also essential because it show entire necessary information in market and to the customers. Thus, clients are well-know about the business position in market.

REFERENCES

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  • Black, S., 2013. Practice of public relations. Routledge.
  • Chamorro-Mera, A., Miranda, F. J. and Rubio, S., 2014. Facebook as a marketing tool: An analysis of the 100 top-ranked global brands. International Journal of Virtual Communities and Social Networking (IJVCSN). 6(4). pp.14-28.
  • Getnet, E., Kedir, A. and Yousuf, J., 2014. Challenges and Prospects of ICT Use in Agricultural Marketing: The Case of East Hararghe Zone, Oromia National Regional State, Ethiopia. International Journal of ICT Research and Development in Africa (IJICTRDA). 4(1). pp.41-60.
  • Ionitã, D., 2012. Entrepreneurial marketing: a new approach for challenging times. Management & Marketing. 7(1). p.131.
  • Jacobs, K., MacRae, N. and Sladyk, K. eds., 2017. Occupational therapy essentials for clinical competence. Slack Incorporated.
  • Khan, M. N. and Adil, M., 2013. Data analysis techniques in service quality literature: Essentials and advances. Serbian Journal of Management. 8(1). pp.95-112.
  • Kwon, E. S. and et. al., 2017. Inter-study and intra-study replications in leading marketing journals: a longitudinal analysis. European Journal of Marketing. 51(1). pp.257-278.
  • Lin, H. H., Li, H. T. and Wang, Y. S., 2015. Permission-Based E-Mail Marketing Websites Success: An Integrated Perspective. Journal of Global Information Management (JGIM). 23(2). pp.1-23.
  • Natarajan, T. and et. al., 2013. The State Of Internet Marketing Research (2005-2012): A Systematic Review Using Classification and Relationship Analysis.International Journal of Online Marketing (IJOM). 3(4). pp.43-67.
  • Ogunmokun, G. O. and Tang, E. C. H., 2012. The effect of strategic marketing planning behaviour on the performance of small-to medium-sized firms.International Journal of Management. 29(1). p.159.
  • Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best friend.Journal of Promotion Management. 18(3). pp.319-328.
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