This marketing management study focuses on ALDI and its marketing strategies. It includes a TOWS analysis, marketing objectives, marketing mix plan, and strategies to improve customer service.
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MARKETING MANAGEMENT
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 TASK...............................................................................................................................................3 Marketing TOWS for ALDI........................................................................................................3 Marketing objectives...................................................................................................................6 Marketing Mix plan.....................................................................................................................7 Strategies to improve customer service.......................................................................................9 CONCLUSION..............................................................................................................................11 REFERENCES................................................................................................................................1
INTRODUCTION Marketing managementcan be definedas business practicethatpay attentionon implementation of marketing techniques that may help business in generating sales by utilizing marketing resources well (Claesson and Jonsson, 2017). Present study is based on ALDI that is the popular supermarket firm t which is operating in more than 20 countries and generated turnover around 50 billion. ALDI is planning to run marketing campaign: express ourselves”. Study will construct marketing TOWS for ALDI. It will prepare marketing objectives of this campaign and will examine marketing mix strategies of firm that may help I n meeting 12 month plan of the firm. In addition, it will describe various strategies that may support business in improving its customer service to great extent. TASK Marketing TOWS for ALDI TOWS is the model that examine company’s opportunities and threats with its weakness and strength. ALDI is the great supermarket firm that has around 10000 supermarkets. It offers low cost products to its wide range of consumers. Its main objective is to satisfy consumers by servicing them best (Najafipour Moghadam and et.al., 2018). Strength It pricing strategies is its strong point as all its products are available at affordable rates which make its easy for everyone hence large number of audience take interest in its products and services. Customer support of ALDI is very good which make it unique. As many companies are working in this sector but customer support system of ALDI is very advanced. Financial leverage is another strength of the business unit, it has adequate funds that help business in sustaining in market easily and investing more for further expansion Weakness In term of quality, ALDI still far away from other big super market firm such as ASDA. Its reputation for quality is quite low. It does not have online stores which is another weaker point of ALDI Its public image is very cheap as compare to other competitors (Melethadathil and et.al., 2017). Opportunities
GlobalizationcancreateopportunityforALDIanditcanexpanditsbusiness internationally which will help the organization in generating more profit. New product development can help firm in attracting more consumers towards the brand. Threats Increasing tax rates may create problem to ALDI because it will reduce profit of business. Poor economic condition is also threat to the firm because it will impact on its sales badly (Getaneh, 2017). TWOS analyses TOWS matrixThreatsOpportunities Increase tax rates High competition Poor economic condition High profitability Expansion and globalization New product development Strength S1Pricing strategies S2Strong supply chain network S3Financial leverage S1T1: As company is offering low cost products hence more consumers will take interest in its products which is better for ALDI to generate more profit and managing tax (Pulka, Ramli and Bakar, 2018). S2T2:As supply chain management of ALDI is very strong and this will help organization in delivering high quality material to its consumers which will be better in creating competition and satisfying its consumers. By this way customers will become loyal and enterprise will be able S1O1:As its products can be afford by wide range of consumers because it are available at lower rates this may help ALDI in raising its profitability and sustaining in market for longer duration. S2O2: Strong supply chain may help the organization in expanding business globally S3O3:Financial condition of ALDI is helpful in investing more money in new product development so that it can generate more profit.
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to gain competitive advantage in market. S3T3:as its financial position is very strong and if there is poor economic condition then also ALDI can be able to manage its operation well. Weakness W1:Quality W2:poor online offering W3: Poor public image W1T1:As it has poor quality products as compare to other leading competitors that create issue for business and it fails to manage increase tax rates. It needs to pay more attention on quality to retain them. W2T2:By opening online store it will be able to meet the threat of high competition W3T3: Many time economic condition of country get down at that time people prefer to buy cheaper products , at that time ALDI can make efforts to gain attention of buyers to improve its image in market (Akbar and et.al., 2017). W1O1: By enhancing diversify products ALDI can raise its profit to great extent. W2O2: Online offering would be better for expanding business globally. W3O3: By offering range of products ALDI can raise its public image (Basha, 2019). Marketing audit that is taken for TOWS analyses In order to identify opportunities and its relationship with strength or weakness ALDI can take assistance of marketing environment audit. By conducting SWOT and PESTLE it can analyses factors that are affecting business or are creating opportunities for business. In order to examine whether ALDI is able to meet target or not market strategy audit can be undertaken, it helps in analysing marketing system and making necessary changes in
strategies so that 12 month goal of ALDI of this campaign can be accomplished (Sirajuddin and Kumar, 2018). Marketing productivity audit is also undertaken to measure cost benefit. As ALDI needs to invest huge amount to run its express campaign. And to meet its real objective it is essential to analyses whether cost bear by firm is able to generate profit or not. Through productivity audit enterprise can meet this target easily and can know better whether investments are worthwhile or not (RAMKUMAR and DHANALAKSHMI, 2019). Marketing objectives Each company makes its objective and arrange its business activities in such manner so that this objective can be accomplished successfully. Marketing objective of this express ourselves campaign are: To enhance sales of ALDI by 30% within 1 year. To open four more store within 12 months in four more locations. To increase enquires by 20% from this express ourselves campaign Enhance sales of ALDI by 30% The main objective of the organization is to generate sales by 30% within one year. Express ourselves campaign make people aware with the features and uniqueness of ALDI’s products that aids business in awaring people more and raising their interest as well. By this way a greater number of customer will buy its products which will aid business in generate more sales hence overall profitability of organization will raised by 30% within this 12 months. People like to buy products that have strong promotional activities because it influences their mind. Generation of profit is the prime objective of any business activity and company market their products to raise its sales. Hencethrough this express ourselves campaign ALDI can be able to meet this sales target objective easily (Hutapea, 2016). Opening new stores One of the major issues faced by ALDI now a days is high competition. As many other competitors are having stores globally and their stores are easily visible. Hence customers like to buy their items from these stores. If it opens many more stores in many more location then it will help the firm in sustaining in market for longer duration.Hence objective of express ourselves campaign is to open 4 more stores in four more new locations (KIFLU, 2018). This will develop its global brand image and number of customers of company will be increased. Opening new
stores objective is possible through this marketing campaign because it will raise awareness among them and they will make their mind to go to these stores to get their desired products at affordable rates. Increase enquiries by 20% ALDI is the popular brand but still it is facing huge competition due to which large number of people do not take much interest in its products and they move to ASDA, Tesco and other big brands (Soria López, 2017). This express ourselves campaign will help company in making people aware with the features and facilities that company is offering to them as compare to other brands. Through this marketing efforts it will be able to convenience them to buy its products. This marketing efforts will raise their understanding about benefit that they can get if they experience services of company hence it will help in raising enquiries and more customers will ask for price and product feature of its supermarket products. Marketing Mix plan Marketing mix can be described as activities of companies that are undertaken to generate more profit. Each company uses several strategies through which it can gain attention of mass audience (Alhassen, 2018). Product It is most essential element that help business in gaining success. ALDI is offering wide range of items to its consumers. It needs to increase its number of products and its quality both. Through product development firm will be bale to make this express campaign successful. As it would support organization in attracting new consumers and meeting the objective of raising 30% profit target (Claesson and Jonsson, 2017). If entity is paying attention on raising quality of products then customer complains will be minimized which would be better in increasing sales and generating more enquiries. Price ALDI is very popular brand in supermarket industry, it needs to use skimming pricing strategy. If it provides good and services at lower rates initially and once people start liking its items theit has to raise prices of its items gradually. This tactic would be better for the organization in generating more sales (Najafipour Moghadam and et.al., 2018). Because by this way firm ca easily gain attention of mass audience that would help in meeting profit target objective of business. It is also beneficial in enhancing enquiries as well. Hence by using
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skimmingstrategyenterprisecanmakethisexpressourselvescampaignsuccessful. Combinationofhighqualityproductsandcheaperratesisuniquebecausemanyother supermarket companies are providing goods to end users at high cost. If ALDI is taking care of quality with cost then interest of them will be raised and objective of this express ourselves campaign will be met soon (Melethadathil and et.al., 2017). Place This is related with distribution of products so that it can reach to end user timely. ALDI has many stores globally, it can take assistance of online stores and can make contact with retailers as well. Both these strategies are helpful to make this express ourselves campaign successful. If entity is offering products through its online site then it will be able to reach to mass audience and serve its services globally. Retail distribution channel is also great because people can reach to their near location store and can shop. Online store will raise enquiries and retail stores will help in making profit hence this target will be accomplished successfully (Pulka, Ramli and Bakar, 2018). Promotion In order to meet the marketing objective of express ourselves campaign, ALDI ca promote its brand through public relationship. By developing its relationship with consumers enterprise will be able to gain attention of mass audience. Public relationship camps can be beneficial in meeting profitability objective. By this number of customers of firm will be raised and it will be able to manage its operations globally successfully (Sirajuddin and Kumar, 2018). People ALDI needs to train its employees so that they can convey value of its goods and services to them through this express ourselves campaign If people are well trained then they can answer quarries of customers. By this way number of quarries will be raised and more consumers will get influence towards business (RAMKUMAR and DHANALAKSHMI, 2019). Apart from this, kitwillprovideextradiscountto consumersandemployeeswillgetincentiveon their performance. This strategy will be beneficial in managing operations well and generating more profit. Process ALDI needs to use simple process and have to ensure that quarries generated through this express ourselves campaign can be addressed timely. Firm will improve its customer service
support system to answer issues of people soon. By this way their confidence will build up and they will make their mind to buy its products. By this way ALDI will be able to raise its profit to great extent (Hutapea, 2016). Physical evidence All its stores will have good infrastructure. Logo of ALDI will attract more people. Express ourselves campaign will have amazing tagline that will attract more people. This strategy would support ALDI in raising profit and entering into new location successfully (Soria López, 2017). Strategies to improve customer service Customer service is essential part of any business, if companies serve its consumers well and keep them satisfied the it would be better for organisation in gaining success and sustaining in market for longer duration. The main agenda of express ourselves campaign is to improve profitability and knowing more about needs of consumers. ALDI wants to make changes in its practices so that it can provide amazing quality services to its end users. ALDI needs to take support of various strategies to improve its customer services (Alhassen, 2018). Seeking feedback from consumers In order to serve end users well there is need to first understand them and know more about their requirements. If enterprise is unaware with actual preferences of buyers, then it would not be able to meet their expectations. ALDI can take feedback from its regular customer’s time to time. By collecting their reviews firm would be able to know issues face by them and what are their expectations (Claesson and Jonsson, 2017). That would be better for organisation in making necessary changes in its existing operations so that it can improve its customer service and can make them satisfied. In this express ourselves campaign ALDI will meet with various people and it can ask their needs which would be better in analysing rout cause of issue and taking right action to improve it. By giving feedback customer also feel valued and they think that firm is taking care of them. hence it makes them loyal towards the brand. Strengthen customer service team ALDI can provide a great customer service if it has great team. If there is strong customer service department who is continuously working to serve the buyers well then firm will be able to meet its target. ALDI needs to give training to its professionals about requirements of buyers and what are the elements that make them happy (Pulka, Ramli and Bakar,2018). Training
session must include that employees have to behave patience and have to show their empathy towards consumers. By this way customer feel comfortable and feel so relaxed. This makes them satisfied towards organisation. ALDI can give knowledge to its workers about product so that clear information can be passed by them to end users. This practice will be helpful for ALDI in improving its customer service facilities (RAMKUMAR and DHANALAKSHMI, 2019). Implementation of customer service management (CRM) platform There are many software available that help company in making direct connection with potential buyers. ALDI should streamline its staff members to use CRM platform in systematic manner. This is amazing software because it gives insight detail about market condition and customer needs and their buying behaviour. By using this software enterprise can interact with its potential buyer quickly and can update them with offers and facilities provided by ALDI. This engagement with consumers enhances trust of buyers and they become frequent buyer of business (KIFLU, 2018). Hence this application is beneficial in satisfying consumers to great extent. Use of multi-channel servicing In the recent time most of the people spend huge time of social networking sites. Many advance technologies are available in market that aids in bringing many people together. ALDI needs to use social media. Use of Facebook and Twitter is very common. Enterprise can post their offers and discounts, features of product on its social sites. By this way all connected users can get to know about the unique features of firm. They will take more interest in its products which will be better for the firm to convince them to buy products. On social sites they can raise their quarries and enterprise can give them quick response. By looking at positive comments of other user consumers will be so positive (Soria López, 2017). This would be better in satisfying them with consumer’s services. Mobile application is generally used by many supermarkets. Customers have option to pick their required product and make online payment. That item will be delivered to their location as soon as possible. Use this channel will help ALDI in raising interest of consumers and meeting their expectation. By this way they will feel happy and will give positive reviews to others as well. Rewarding loyal customer ALDI needs to give additional rewards to its consumers, this will make them feel valued. When person starts getting some additional benefits against their spending then they feel so
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happy. They feel that they are getting benefits from company and that gives them positive experience. This helps in enhancing their satisfaction level to great extent. This kind of experience they remember life time and become frequent buyer of business unit (19 Great Customer Service Tips to Improve Your Customer Satisfaction, 2020). Providing quick support If any customer is facing any issue related to products and services then support team must give immediate response and have to resolve their quarry soon. This make them feel good and they thing that enterprise is giving value to their time. By implementing this strategy ALDI can improve its customer services significantly (Najafipour Moghadam and et.al., 2018). CONCLUSION From the above study it can be concluded that marketing management is the process of make plan for raising sales of company and organise activities sin such manner so that entity can accomplish its goal successfully. Use of TWOS analyses supports business in knowing the weaknessthatmaycreatethreattobusinessandtakingappropriateactiontoturninto opportunity. If entity is implementing effective marketing efforts, then it would be helpful for business in generating more sales and making its own positon in market. Marketing mix plan supports the firm in attracting potential buyers and developing their interest in products of business unit. Social media plays significant role in making great interaction with consumers and knowing more about their preferences. By this way entity can improve its products to satisfy its wide range of customers.
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