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Introduction of Marketing of Retail Sector - Report

   

Added on  2020-06-03

21 Pages6569 Words430 Views
Introduction toMarketingIntroduction toMarketing
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Table of ContentsINTRODUCTION ..........................................................................................................................3Main Body: Research/ findings/analysis.........................................................................................3TASK 1............................................................................................................................................3Conduct market research on the current UK grocery retail market ...........................................3TASK 2..........................................................................................................................................11Analyse the conduct research on the UK population to determine which segments will provideLidl company with higher yield of consumers..........................................................................11TASK 3 .........................................................................................................................................13Relevant approaches for marketing strategies...........................................................................13CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19Books and Journals ..................................................................................................................19
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INTRODUCTION Marketing is the essential part in the organisation to increasing the product sales andopportunities for the company. The main objective of the marketing is to get the sales high andmake brand image in the competitive market. Present report will base on introduction ofmarketing of retail sector in which report will discuss about Tesco, ALDI and their competitors.Along with that, it will also discuss about the segments who are driving this growth, usingrelevant socio-demographic, psycho graphic and behavioural variables, develop detailed segmentprofiles. Along with that, in third segment it will also explain about the 7Ps marketing mix modelin order to target the market customers. UK grocery market is covered by the big organisationssuch as ALDI, Tesco, Ads etc. In terms of earning profit revenue is 163.2 billion. In UK marketthere are 102,537 stores convenience retailing. In which there are many types of retailingsegment convenience retailing, traditional retailing, supermarket and superstore and alternativeschannels. Grocery stores in the UK market is highly demanded and effective and approachablefor the customers. Grocery stores provides variety of services to the customers as per their needsand wants. They provide all brands and variety at low prices or at reasonable price. It is the mosteffective market. Present report covers the section in which they discuss on the models ofSWOT, PESTLE, Competitor matrix, Boston Consulting Matrix, Ansoff Matrix. Furthermore, inanother segment report will research on psychographic, behavioural and socio demographic. Inlast section it will discuss on the theories of product description, brand image, pricing objectivestrategy and 7P's marketing Mix. Moreover, it will cover the all part of the grocery store whichhelps to influence the market conditions. Main Body: Research/ findings/analysisTASK 1Conduct market research on the current UK grocery retail market Lidl wants to emerge with Tesco in terms of more profit or expansion through which theyenhance their market share and supermarket stores in UK market. It provides more opportunitygrowth to the company (Ahn, Cho and Han, 2014). In terms of expansion there are variousfactors which affects company market structure and growth. Some external or internal factorsaffect company growth. In order to analyse the UK grocery market. It needs to adopt effectiveresearch or analysis models to get the best productive information in order to reduce the negativeimpacts.
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SWOT AnalysisStrengthLidl is the price and quality attractivecompany (Lidl SWOT analysispresentation, 2016).It has store standardisation andaccessibility (Armstrong Kotler, Harkerand Brennan, 2015). Lidl was the Grocer of the year in2015.It has good product choices andselection process. WeaknessesDifferentiation from competitors suchas Tesco, Aldi, Asda etc. Lack of stock availability by the end ofthe day.Lack of cash counters in the stores.Lack of customer services.OpportunitiesAdopt customer health trends and thosetypes of products and services. Alsoadopt organic product items to attractcustomer trust and loyalty. Technological up gradation in order toprovides flexibility in working.ThreatsCustomer concern and grievance.Competitors prices and marketstrategies (Lidl SWOT analysispresentation, 2016).Changes in market environment. PESTLE Analysis model Political factorPolitical factors are thosefactors which influence bypolitical vulnerability acrossglobe currently. In order toidentify business opportunitiesfor Lidl, they need to adopt allpolitical changes in theEconomical factorAfter the impact of Brexit inUK market. Prices has beenincreasing of product andservices. This approachworked for Lidl with shoppersturn to discounters. In inflationin grocery market was rose toSocial factorSocial factors influence by societal factors which creates health concerns, environmentalprotection etc. through which company get affected. Lidl Provides quality services to thecustomers for their healthy life.
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business environment. To getmarket attraction companyneeds to apply all politicalchanges in the business to getcustomer attraction. 2.9% in May. This impactgives positive impact on thecompany in order to providesgoods and services in cheaperproducts. This is theopportunity for the company toadopt better environment.Besides, economic factorsaffect company by changes ininterest rates, inflation rates,foreign exchange rates etc. Besides, company also provides all kinds of range to their customers. TechnologicalSupermarket are increasingly adopted high advanced services in order to grab the flexibility and effective working growth. It helps to enhance the customer service. In order to get the best effective prices. Technologicalfactors affect company atmosphere in positive manner. LegalLegal factors are also verymuch effective and useful.Legal factors affect companyenvironment by theinterference of government.On the other sides, legalfactors frequently affected byscandals the content of foodproducts. Economical Environmental factors is the another significant factor which affect company atmosphere and planning process. This is the another changes done by the company. Environment is affected by changing in customer needs and wants, market changes, taste and preference etc. super market get easily affected by the those factors. Competitor Matrix analysis modelThis model of competitive matrix helps to analyse the company competitive advantage.In terms of supermarket and hypermarket. It provides competitive advantages growth. It helps toidentify the company competitor approach and strategies in order to grab the market position.This helps to determine the competitor current strength and weaknesses. This helps to anothercompany to make potential changes in the company in order to stable the company stability and
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brand value ion the market (Babin and Zikmund, 2015). Lidl having many competitors whoaffect the company functions and strategies such as Tesco, Aldi, Asda and M&S. Lidl is thecompany which deals with supermarket which deals with variety of services. There are thecompetitors' analysis of Lidl company. FactorLidlTescoAidl AsdaLow Price4544Superior quality 4433Training ofoperations 5455Unique features4354Customerservices5543Innovation &Creativity5325
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