Report on Competitive Market with Loyalty of Customer
Added on 2020-06-03
21 Pages6575 Words91 Views
Professional DevelopmentPolitical Science
|
|
|
Introduction To Marketing
EXECUTIVE SUMMARYMarketing is a tool of communication which a company uses to address large customersegment with the help of various channels or medium. Marketing involve various tools andtechniques in order to make customer aware about variety of products or services that a companyis offering. Retail industry in UK is vast and has occupied large market segment by exploringnew ideas and innovation to achieve advantage in every aspect. This report portray how Lidl canachieve success in competitive market along with retaining loyalty of their customer. Also,recommendations about diversifying in target market by expansion to suppress other retailbrands.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................4Market Research of Current Grocery Market of UK..................................................................4TASK 2..........................................................................................................................................12Identify different consumer segments that influence growth of a company.............................12TASK 3..........................................................................................................................................157P's of Marketing mix...............................................................................................................15CONCLUSION.............................................................................................................................18RECOMMENDATIONS...............................................................................................................18REFERENCES..............................................................................................................................20
INTRODUCTIONMarketing, a tool for business which is implemented using strategies and plan of actionsin order to attain benefit in terms of profit. It is used to influence customer and their preferencesat the time of purchase or sale. Being crucial function of an organisation it require series ofresearch and studies using which company produces schemes and plans before launching anyproduct or service in market (Armstrong and et. al., 2011). With help of effective marketingcompany can make up, live up and keep up their customers for long-run. It include activitiessuch as advertisement, promotion, selling, distribution and delivery of product and service tocustomers. Marketing team is assigned with duties such as endorsements, media exposure,advertise, tag lines creation, etc. in order to retain customers and maintain balance between theirneeds, wants and demands. To have competitive advantage and survival company must induceeffective marketing strategy to satisfy need of its customers. Lidl is one of the largest retailsector in UK, that operate in more than 10,000 states across country. It is global discountsupermarket chain with more than 300,000 employees that contribute to business success. Properplanning and execution helps in getting better results in form of sales, revenues, etc. Aim of thisassignment is to provide understanding of market research, planning, market-mix and itsassociated aspects. In this report, market study of Lidl is going to be addressed which willinclude factors that impact company and a detailed analysis of marketing data. Further consumersegments will be identified on the basis of socio-demographic, psycho-graphic and behaviouralvariables and their contribution towards company's growth will be examined. At last, on thebasis of proposed market plan 7P's of marketing mix will be identified. This whole study willfulfil its purpose about marketing and terms associated with it such as selling, buying, goods,services, ideas, customers, information, promotion, advertisement, etc. TASK 1Market Research of Current Grocery Market of UKData gathered from research is showing that market share of TESCO is highest incomparison of other grocery stores like ASDA, ALDI, Lidl etc. Result are showing that ALDIand Lidl are showing rapid growth and with effect share of ASDA and TESCO are showing fallby 0.2 basis points (Atwal and Williams, 2017). Investigation is showing that ALDI hasincreased its position in industry from 6 % to 6.8%. on the other hand it is clear that Lidl has
increased its market share by 0.6% to 5%. couple, ALDI and Lidl are enjoying best sales incomparison of other competitors and are making high rate of profit which is £7.9billion.Above analysis is showing that market share of TESCO is fell down from 2 basis points.On the other hand market share of Lidl is growing rapidly and it is showing a successful businessoperations in market (Babin and Zikmund, 2015). As a pair ALDI and Lidl is showing aremarkable profit. If ALDI is showing sales growth from £1.1Billion to £7.9billion and Lidl alsohave growth in sales which is £800million to £5.8billion. This is easily comprehended byfollowing diagram. LIDLALDIMorrisonASDATESCOIllustration 1: Market share of companiesin Grocery industry in UK in 2015LidlAldiMorrisonASDATescoIllustration 2: Market shareof companies in Groceryindustry in UK in 2017
(Comparison of growth of profit)Above is the growth in sales volume that is a concerned topic for other companies likeTESCO etc. Data is showing that success of ALDI and Lidl is a big question on other company'ssuccess and growth. Above charts and graphs are showing actual market conditions of variouscompanies which are operating their business operations in United Kingdom (Bhattacharya ed.,2010). Growth shown by ALDI and Lidl separately is a combination of expenses which arecompany expensing commonly. Data is showing variation in market share of TESCO andMorrison which is fell by 0.2% basis points in past two years but it is been recorded that thesetwo firms are regularly indicating fall since five years. Main concern of this report is that Lidl want to become main competitor of TESCOcompany has desire of increasing retail store chain in overall UK. Lidl wants to compete withrivals by taking market share to a two digit figure. Above is a research that is showing currentstatus of corporations in market in grocery industry. Analysed data is collected from secondaryresearch which is representing that if TESCO is showing fall in market share but it is a largestcompany in industry and Lidl is showing a least position in marketplace. Below are some techniques that are used for analyse present market position of some companies.TOWS Analysis1220142014.520152015.520162016.52017Column AColumn BIllustration 4: Growth inSales of ALDI from 2015 to20171220142014.520152015.520162016.52017Column DColumn EIllustration 3: Growth in sales of Lidlfrom 2015 to 2017
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Report on Management of Marketing Activitieslg...
|20
|6277
|43
Introduction to Marketing PDFlg...
|21
|6425
|213
Introduction of Marketing of Retail Sector - Reportlg...
|21
|6569
|430
Report on Research UK Grocery and Retail Marketlg...
|22
|6181
|89
Marketing of Lidl business in UK : Assignmentlg...
|22
|6357
|60
“LIDL” Industry Marketing Reportlg...
|22
|6469
|640