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Introduction to Marketing PDF

   

Added on  2020-10-05

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INTRODUCTION TOMARKETING

EXECUTIVE SUMMARYThe present report consists of detail information about the market situation of groceryretail market. The various research methods as well as assessments tools have been used forgathering the data about business environment. Little research as well as analytical tools whichhas been used in present study are Pestle as well as swot analysis etc. In addition to thesecompetitors' matrix has been used for getting the detail of competitiveness in the industry. TheBoston consultancy matrix has been utilized in present assignment which has supported indevelopment of the marketing plan for LIDL organization.

Table of ContentsINTRODUCTION...........................................................................................................................4TASK 1............................................................................................................................................41. Market Research of UK's Grocery Retail Market...................................................................4TASK 2..........................................................................................................................................123. Market Segmentation............................................................................................................12TASK 3 .........................................................................................................................................153. Marketing Mix model...........................................................................................................15CONCLUSION AND RECOMMENDATIONS..........................................................................18REFERENCES..............................................................................................................................20

Illustration IndexIllustration 1: Ansoff's Growth Matrix............................................................................................8Illustration 2: BGC Matrix.............................................................................................................10Illustration 3: Demographic breakdown of retail segment............................................................13

INTRODUCTIONMarketing is defined as the set of activities executed with the purpose of accomplishingfinancial objectives. It is also considered to be as philosophy which states that an organisationshould concentrate on identifying as well as fulfilling the customer needs. Marketing procedureincludes various activities such as planning, communicating, delivering information about thegoods or services offered by an enterprise. The promotional or marketing procedure have focuson identifying the customer needs. It emphasizes on delivering high value to customers andinfluencing them to buy goods or services offered by company Marketing process includesgathering the information about an industry. Market research is considered to be as an effectivetool which assist business entity in getting update itself about customers needs and changes intrends.The grocery retail in United Kingdom is very big and is considered to be as highlycompetitive. It covers the wide market share that is approx. seventy percent of total market.Grocery market in United kingdom is recognised as most sophisticated globally. It is among theleading supermarket chain in the world. There has been tremendous growth in grocery retailmarket in last few years. Few examples which demonstrate the development in grocery retailsector are increase in number of retail outlet, online grocery retailing, discounters etc. Groceryretail sector in United kingdom.The purpose of report is to develop the understanding about marketing concept. It alsohas focus on identifying the current situation of grocery retail sector in united kingdom. Studyalso emphasizes on determining which segment “Lidl” Company should serve in order toincrease its customer base.TASK 11. Market Research of UK's Grocery Retail MarketIt is a process which is used by the organization to gather information related to theirservices and products which is being available to their customers in the target industry. For Lidlcompany it is very important to evaluate the preferences and needs of the consumers so that theycan deliver their service according to that. Marketing research can be done by two ways, i.e.1.Primary Method : In this method, organization gathers information by himself onlyusing various process, such as, through observation, by conducting surveys, by focusgroups analysis, by taking one-on-one interviews, etc. All these process gives them the

detailed information related to their existing products and services in the market andways to improve it (Sarstedt and Mooi, 2014).2.Secondary Method : In this method, Lidl uses the research data which was done in thepast by some other organization and apply into the organization to analyze the finaloutcome. It can be achieved by trade journals specific to the industry, from differentwebsites, etc.Market analysis for any organization helps to understand the overall functions of thecompany and its current position in the market by analyzing various factors (McQuarrie, 2015).There are so many methods to perform market analysis, such as,SWOT Analysis : This method is very useful to analyze the overall strength ad weaknessof the organization. It also helps to evaluate the opportunities and threats which isavailable in the industry. This analysis is useful to understand the internal factors whichcan affect them. There are four factors in this analysis, i.e.1.Strength : The most important strength of Lidl company is their wide range of productsand services they provide to their customers. The pricing policies of this organization isalso very cheap which makes customers to buy more and more products from their shops.Lidl grocery company has huge amount of stores which is distributed across UK whichhelps their customers to easily access them. They have effective operational strategies(Rothschild, 2014).2.Weakness : The greatest weakness of Lidl grocery company is that they not enoughcapable of competing with their rivals, for example, Tesco or Asda. They are not able tospread their business outside UK which can gain them so much popularity in thisindustry. They are providing their products at very cheap price this can make think theircustomers that they are not selling good products to them.3.Opportunities : There is a huge opportunity for Lidl company to grow in the targetindustry and expand their business in UK and can increase their shares in UK grocerymarket. They can make their website more informative and attractive for their customersto shop from. This will help them to increase the customer rate (Bull and et.al., 2016).4.Threats : To compete with their competitors, it is very important to over come fromevery threat they face. Expansion of international market can give them a great threat tostay in the market. They have to deliver their services which can give competition to their

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