Marketing Report on Aldi: Strategies, Objectives, and Marketing Mix
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This marketing report analyzes the strategies, objectives, and marketing mix of Aldi, one of the biggest retail companies in the world. It discusses the importance of smart goals, the marketing objectives of Aldi, and the elements of the marketing mix. The report also includes a background of Aldi and a TOWS analysis.
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Marketing function is one of the most important principle of management which explains the immense important for companies to focus for delivering high quality services with strong branding and promotional techniques. This report explains how Aldi as one of the biggest retail company in industry offers various products and services to all customers in stores and websites around the world.Aldi has high potential to grow with diversification in domestic as well as international markets, where company has established strong marketing strategies to combat the force of new brand entrants. The high dynamic business world implies companies to bring innovative marketing strategies and objectives with high focus on long term goodwill. This report explains Long stability is achieved when the marketing goals are determined towards company production goals, to serve customers with high productive force and innovative features. It elaborately explains smart goals importance, and the 4ps of marketing through which innovation can be fueled for high growth revenue. This report analyses importance of promotion through online social platforms which is used by companies to attract large customer base, leverage profits and highly contribute towards customers satisfaction services. The marketing objectives of Aldi focus on gaining strong positions within online services by being active through social media handles and marketing throughshoppingwebsiteswherepeoplevisitforpurchasingtheiressentialgoods.Aldi marketing objectives are relevant and focused in bringing innovative features among products in all stores which are different from other brands and companies. It further analyses customer satisfaction services importance, the various strategies Aldi can bring for delivering customers withmoreinnovativebusinessservicesandrecommendationsforfuturegrowthand diversification (Dharmappa,2019). 1.1 Background of Aldi Aldi is one of the biggest retail brand in world having global chain of stores and supermarkets around 10,000 in 20 countries with an estimated turnover of more than 50 billion from business into diversified sectors. The company has various products in portfolio of goods and services ranging from all corners of business, with innovative features and functional operations maintained with strong efficiency. Aldi has long legacy of brand goodwill where it has successfully opened various stores and departmental services in various countries, and large up scaled business with high diversification. Products and services are of supreme qualities
which are technologically produced by innovative techniques, high branding which are the marketing goals of Aldi for long term sustainability in industry. 2.0 TASK 1 2.1 Marketing Audit Marketing Audit refers to detailed systematic analysis with evaluation of business marketing environment in internal and external terms, objectives and strategies to effectively implement the strategies to ascertain areas of potential growth and opportunities for enhancing marketing performance. The audit must conduct comprehensive view and cover all essential marketing problems faced by company and systematically constructed with task-force audit to reach the set goals with high efficiency (Soukalová, 2019).External party investigation enables company to get all productive information formulating company structure, the essential principle which needs to be formulated for higher profit margins and strong goodwill. Aldi by focusing on themainfactorsofmarketingaudit,whicharestrategyaudit,marketingsystemaudit, productivity audit, function audit which elaborately function out the detailed 2.2 TOWS Analysis TOWS analysis is framework of tools which explain the usage of internal strengths to gain strong approach on external opportunities, which are correlated with company goals to gain long term future growth, high goodwill among customers and large profitable revenues. Aldi Company through tows analysis can establish the various key points which will help company to construct futuristic marketing goals, efficient management structure and competitive strengths. STRENGTHSWEAKN ESSES OPPORTUNITIESSO Strategies Aldi by using high goodwill among customers as one of the competitive strengthofbrand,diversifythe business services and expansion into new market areas and build stores in untapped country markets. WO strategies Aldiweaknessoflow quality standards which is an internal weakness, cam be mitigated by bringing in moreinnovativegoods, which is high opportunity
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Aldi has strong capital funds which is an internal strength of company, and can be utilized for implementing new technology and machines which can be used for further promotion through social media services. of market share. Aldihaslowreputation amongcustomersdueto lesssatisfactionservices, bytrainingemployees customers can be happily satisfiedwhichisgreat opportunitytocapture market share. THREATSST Strategies Strength of large capital can be used asinvestmenttodiversifybusiness services,tocombatthreatof competitive forces of new companies and brands. Strength of large workforce can be usedtocombatthethreatoflow customersatisfactionservicesby training and motivating them to reach high level performance (Salisu,2019). WT Strategies Theweaknessofless competitiveworkforce producing less output has slowedthebrandimage, threat of this factor can be slowedbytraining employees and workforce. Aldi production units are not strong enough to bring innovativetoolsof productsandservices, whichbyinvestingin technologyup-gradation can be developed. 2.2.1 TWOS SO Strategies(Attacking strategy):The internalstrengths of company which are high goodwill in market share among other competitors due to long legacy of brand spread around world, can be used to diversify business services with high innovation strategies. The external opportunities hold great advantage for company to establish firm place in retail industry which
helps the management to productively gain large percentage of goodwill among customers. Aldi by using high capital funds for further investment to bring innovation can cultivate high operational efficiency in all goods and services. The SO strategies will help Aldi to gain long term goodwill among and position itself as competitive company in retail industry where the preferences of customers are high for large innovative products. WO Strategies (Building strength for attacking strategy):The weakness of low quality standards and low brand reputation of company can be reduced by the opportunity of company to bring large innovative products in portfolio, and by training employees to deliver better customerssatisfactionservices.TheWOstrategieswillenablecompanytoreducethe weaknesses great extent by using the external market opportunities for leveraging customer market segments effectively. This will help Aldi to productively become more active, keenly encourage customers to reach out to company products and gain opportunity over internal weakness among management (Santa Cruz,2019). ST strategies(Defensive strategy):These refer to strategies where internal strengths are used and structured in a planned manner to reduce external threats and gain competiveness of retail industry. Aldi Company can use internal strength of large workforce and high capital funds to bring high customer satisfaction and long term goodwill. The employees in all teams must be given training and development measures, which will motivate them to reach set goals with large efficient standards. ST strategies are important component of analysis through which managementcanusevitalinternalstrengths,toremoveobstructivethreatinexternal environment and build strong competency within Aldi to reach high market share among customers. WT strategies(Buildingstrengthsfordefensivestrategy):TheWTstrategiesreferto analyzing the internal weaknesses and external threats of competitive world, which can be structured within by focusing to bring operational efficiency through productive innovative business strategies. These strategies will help Aldi to improve its overall production units, help in determining future positions and the procedures which will help to leverage long term goodwill in comparison to other brands. WT strategies are important component which will help company inner management to analyze the weak areas of operational units, changes which need be implemented and make innovation to gain large leverage through revenue growth from customers and build strong goodwill (Jindal, Zhu, Chintagunta and Dhar,2020).
3.0 TASK 2 3.1 Smart goals and importance Smart principles of goals explain specific, measurable, achievable, realistic and timely factors which enables company managers and leaders to formulate further business expansion descions based on these facts. Aldi my formulating smart marketing objectives which are specified to diversify in specific sector, measurable in time frame of one year and targeting to achieve with complete focus will help in gaining large customer base. Goals by being realistic and timely effective enough to complete will help Aldi to reach strong customer satisfaction services and deliver marketing objectives. It is important for companies to implement smart goals in marketing, as it helps company to reach the targets with high cost effective use of resources and strong paradigms of employee’s creativity. 3.2 Marketing objectives of ALDI Aldi is one of the biggest retail companies in industry of UK offering large variety of products and services to all customers around the world and has business operations in more than 20 countries. The portfolio of products and goods which are offered under brand in all stores and supermarkets consists of grocery items, home décor furniture and various other products which are related to convenience and comfort of people. Marketing department of Aldi focuses on bringing new innovative methods of promoting business services around world by functionally being active in promoting the variety of goods they produce, customer satisfaction services. Aldi marketingobjectiveshave strong focuson integratinginnovationin all operationswhile delivering company products and services, where packaging formats are mainly aimed to be attractive to gain large new customer segments. The marketing functions are done in all stores by strong productive message of high quality standards, delivering strong parameters of quality which people are expecting from Aldi (Zehra and Arshad, 2019).It is utmost important for Aldi to focus on marketing objectives as there is high importance for gaining firm place among retail companies in industry who are largely investing in innovative marketing tools. Aldi marketing objectives have strong focus on improving its customer’s feedback and grievances services by training employees to deliver high quality productive services, be effective in communicating with people in stores. These tools convey the high demand of interpersonal skills among employees, which adds to brand goodwill and encourage high revenue growth as customers
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experience high quality shopping experience. Aldi by cultivating strong workforce who posses’ dynamic skills and strong interpersonal abilities to convey marketing services to customers around world through internet online portals and at stores enhance overall brand value. By supplying high quality standards and marinating the production margins with cost effectiveness, aldi can successfully establish firm place in industry. The market share of customers have high demand for innovative products with better competitive quality and branding forms which help the customers to experience strong variety in the portfolio. Aldi has been one of the oldest retail multinational giant retail companies which have strong quality appreciation by customers around world (Hwang and Lee, 2019). 4.0 TASK 3 4.1 Marketing Mix Marketing mix refers to combination of all essential elements which are Product, Place, promotion and mix which enables company to deliver high growth in serving customers among the market share. Marketing mix of Aldi formulates structure of all essential factors which gives it direct composition of all essentialities which helps to innovate and stabilize revenue margins and long term profitability goals. Place: Pace mix explains the availability factor of company products and services in industry, the diverse spread of all stores and through websites and online shopping portals. Aldi has strong place factor as it has large number of stores all over world and has presence in more than 20 counties, where business scale extended helps to leverage large customers and attract new segments of market share. It has various websites and presence on online shopping portalswhichenablespeopletopurchase;feedbackandgrievancesservicesaredone effectively.Price:Price mix explains at what rate of price products are offered by company and the affordability factor which distinguishes from other companies and brand. The price element of Aldi enables us to explain that all products and grocery items are within range limits of affordability for all sections of society, which is strong determinant factor of productive growth (Jony, Alam and Rana,2019).
Promotion:Promotion mix refers to all elements through which company distributes its products and services, and promotes on online and offline parameters, which helps company to gain large market share. Aldi focuses on gaining strong promotion factors through partnerships with various global brands, and is highly active on social media and shopping websites which affects customer goodwill.Product:Product mix refers to portfolio of various goods, grocery items and home decor items which explains the variety company offers to all stores and websites. Aldi has strong product mix factor which enables customers to choose from large pool of goods and other essential items, which gives competitive edge on all corners of business sectors. Aldi by focusing on enhancing marketing mix factors where products are more innovative as per preferences of customers, prices are not high and promotion parameters are strong to reach large customers satisfaction services. The innovation and practical changes brought in product availability factors, grown market establishment and dynamic business facilities will promote Aldi goodwill and add to brand image. These factors and elements will help company to gain strong position among other competitors, promote the positive business motto company posses. 5.0 TASK 4 5.1 Customer Services The role of customer satisfaction services in business is very deep and essential for gaining long term goodwill and establishing high end benchmarks of profitable business growth and high end revenue margins. Customer satisfaction services are prominent when company operates services through online and offline platforms, as it becomes relevantly important for management to reach customers satisfaction services. Employees need to be trained and effective in solving customer’s issues, feedback and product related services at stores which will help Aldi to attract new customer segments, and leverage more profits. In today’s dynamic business world it is important for companies to serve their market share and percentage of customers around world with prominent high quality services. This is competitive element which helps for futuristic growth and also enhances brand image in global platform (Yano and Furukawa, 2019). 5.2 Recommendations for improvement
The various recommendations which will enable Aldi to enhance its customer satisfaction servicesthroughvariouslevelsandestablishhighgrowthbusinessstandardsforfurther expansion and diversification are as follows: Training should be given to employees in departments to perform better while conversing with clients and customers, as it will help Aldi to deliver better services and promote company goals with high end benchmarks. Customers experience great satisfaction when employees are helpful at stores and are active on websites to resolve their issues and feedbacks with instant service. Aldi leaders and managers of all teams must maintain strong training sessions of all employees in teams, which will productively make company more worthy and enhance its overall brand image, these trainings will help to overall regulate functions better and build high profitability revenues. Training employees and management teams is highly important for Aldi to gain loyalty among customers and productively develop the overall business scenario. Customer satisfaction services are highly effective when there is advanced technology used on websites and online shopping portals, which instantly connects customers with company services. Aldi by using more new innovative technology to connect customers, clients with companymanagementwillenhanceitsproductiveoperationscycleandleveragehigh goodwill among market share. This is one of the foremost platform through which Aldi will improve brand image as customers who are happy with services are most fruitful for company as they gain loyalty towards product quality standards (Dondofema, and Grobbelaar, 2019). Aldi by using instant technology and production equipments which produce large outputs are able to reach stores within the demanded periods by customers. This factor will help company to serve better to customers and deliver them quickly, this feature will enable Aldi to reach competitive edge and leverage high revenue scales in future. Technology and innovation are most important parameters on which customer satisfaction service strategies must be based on. These will promote company goals effectively and determine potential customers and add to company legacy, for future profitability and goals (Shimizu,2019). Aldi must go in partnerships with other social campaigns and perform CSR activities through which new segments of customers can get connected with company and the various models company is active on. For example – Tesco is another competing retail brand in industry which has gone under various partnerships with numerous campaigns, among which Diabetes
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UK is one of the most prominent through which large people have benefitted and connected with Tesco. Aldi must use this factor of promotion and customer satisfaction services, which is important element essential for gaining large profitability and the legacy among worldwide audience. CONCLUSION This report can be concluded with the detailed analysis on marketing factors, the various horizons of business development which Aldi has reached in serving customers with high variety of products and services. It also concludes how Tows analysis is an innovative business model to analyze future progressive decisions in marketing and research, the various strategies which will enable Aldi to formulate high profitable goals. This report also concludes how setting smart marketing principles will help company to leverage more productive results and gain high end marketing benchmarks along with formulation of marketing objectives. This report concludes the marketing mix importance, elements of price, product, promotion and place and the vital importance of marinating strong innovative parameters of company growth. This report also explains importance of customer satisfaction services for business services in dynamic world and how training employees, innovative machinery and technology integration will help company for further expansion (Unceta Luna,Castro and Wintjes,2019).This report also concludes how partnerships with other companies and global brands enable customers to reach company products more effectively and upgrade business revenue with high margins. Aldi through strong promotional services on internet and other social media handles will add to customer goodwill services and leverage new segments of customer’s growth. This report concludes the importance of marketing tools formulation, essential features of innovation and creativity through which they Aldi productivity will grow multifold in all sectors of business and customers. REFERNCES Books and Journals
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