Report on Essentials of Marketing Business

Added on - 06 Jun 2020

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MARKETINGESSENTIALS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Various Roles and Responsibilities of marketing Function..............................................1P2: Roles and responsibilities of Marketing...........................................................................3M1 Different roles and responsibilities of Marketing Function.............................................5M2 Importance of Interrelationship between marketing and various other function ofenterprise................................................................................................................................5D1 Analysis and evaluation of the key factors of marketing function...................................6TASK 2............................................................................................................................................6P3 Comparison of application of various elements of marketing mix...................................6M3 Evaluation of various tactics apply by enterprise............................................................9D2 Strategic Planning for Marketing...................................................................................10TASK 3..........................................................................................................................................10P4 & M4 Marketing plan for ALDI.....................................................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................13
INTRODUCTIONMarketing is a very crucial aspect of any business and it is therefore very important thatthis department is managed in an effective as well as efficient manner. There are variousmarketing theories which can be applied by companies in proper and effective management of itsmarketing department. Marketing can be called as process under which a marketer uses varioustools to attract consumers to sell their products. The main aim of marketer is creation,satisfactions as well as retention of new customers. The ultimate satisfaction of customers fromthe products of the company is extremely important for organization to achieve growth as well assuccess. Marketing department is seen as a very significant contributory for the sales ofcompany’s products and if there will be no marketing of the products, people will never be ableto know about the company and its products (Akaka, Vargo and Lusch, 2013).This report will throw some light on various essentials of marketing that is needed foreffective growth of business. Basically Marketing is a broad concept and it is not merely aboutselling goods and services to customers anyhow rather it starts with identification of variousneeds and demands of consumers and then offering those unique kinds of products to satisfy thesame.ALDI is a well-known brand in retail sector that uses effective marketing strategies toincrease their sales and maintain effective brand in the market. The major functions, roles as wellas responsibilities of marketing department of ALDI and its relationship with other majordepartments of the company will be discussed in detail in this particular report. The key elementsof marketing mix and application of such elements by various enterprises will be discussed indetail under the report.TASK 1P1 Various Roles and Responsibilities of marketing FunctionOverview of ALDI:Aldi is known as one of the common brand of two well established German discountsupermarket chains with more than 12000 stores in almost 20 nations. It has predicted turnoverof more than 50 billion. Their growth and sustainability are attributed to their commitment todeveloping efficiently at every level of production. Marketing is the major techniques which willbe used by Aldi to sell maximum products and generate reliable outcomes during the period.1
Simplicity create more efficiency, clarity and orientation within Aldi as well as for theircustomers.Marketing is a concept in which a company would try to do effective promotion andadvertising of its products and services in order to sell goods and services of the company. Oneof the primary aims would include creation of need or demand of company’s products amongconsumers. By doing this the company will be able to gain competitive advantage over the otherplayers that would be prevailing in the market and it will also help in raising the profitability aswell as productivity of the company. It does not matter what a company manufacture andwhether the product is different from other competitors, it is highly essential that these productsare offered in the market with right kind of marketing tactics, so that people will know aboutproducts and services of the company (Bačík, Štefko and Gburová, 2014). There are varioustools of marketing which can be used by the company for effective promotion of its goods, theseincludes, advertisements, campaigns, radio and television, newspapers, exhibition, onlinemarketing etc. ALDI can use any or all of these mediums to promote its goods and serviceswhich it offers to consumers. Some of the major roles as well as responsibilities of a marketingdepartment are elaborated as follows:Products:It is basically the tangible offering of goods by the company to its ultimateconsumers. For the purpose of gaining customer attention it is quite essential that ALDIshould carry certain features in its products and services which would make it differentfrom its competitors. For this purpose, the marketing manager is responsible to assesswhat kind of features those products of the competitors carry and how ALDI can improvein its own products as well as services so that company can get customer attraction andthus will be able to increase market penetration.The one of the best way to makemedication such as packaging, feature and quality within the product so that it will belooks attractive in the market. This will assist in drawing the attention of customers moreeffectively.Price:Once the product and its features has been decided, the next step involves pricingit effectively, so that consumers can buy that product. The pricing of products depends onvarious factors like the price set by competitors, pricing of substitute products, cost ofproduction and distribution to the company etc. Ultimate the final price of products will2
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