Marketing Essentials : Assignment
Added on 2020-12-24
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Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1............................................................................................................................................1P1 Key roles and responsibilities of the marketing function......................................................1P3 Application and comparison of marketing mix to marketing planning process....................4P4 Developing marketing plan....................................................................................................8CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................11
INTRODUCTION Marketing is an essential tool for every organization through which they promote theirproducts and services. There are various companies which utilises marketing for awareness ofthe people. Every firm utilizes promotional techniques that enhances visibility of firms alongwith their products and services so that prospects can enhance their purchasing power (Griffitts,2016). As every organisation uses marketing ALDI also utilizes marketing to increase its sales asit is life blood of business. ALDI is one of the largest German discount supermarket chains thatconsists of approximately 10000 stores in 20countries. The organization offers a huge range offood, beverages, sanitary, articles and household goods. Therefore, the reports underpins rolesand responsibilities of marketing along with its functions. Further, it also comprises of marketingmix in comparison to implement an effective planning. In addition report also incorporates amarketing plan which is essential to align the activities. TASK 1P1 Key roles and responsibilities of the marketing function.Marketing have a significant place in every organization because in order to sell productsand services these firms needs to provide information to the people. So that they will becomeaware about the existence of a company. ALDI is a large organization which offers a variouskinds of products. In order to increase sales company needs to utilise marketing in an effectiveway. Marketing has changes with time, it depends on the current and future trends that maychange according to new evolving technology and requirements. As in present time, firms areusing digital media for promotional activities which can be changed or advanced in the future(Brooks and Simkin, 2012). There are several roles and responsibilities of marketing functionsthat are mentioned below - Marketing strategies – In order to lead in a marketplace ALDI needs to developeffective planning on the basis of strategies. In order to conduct marketing activities in anappropriate manner strategies are essential because it aligns all required tasks that can reachtowards objectives and goals of the organization. The first step of developing marketingstrategies is to identify the needs and requirement of the potential customers. So that they canfinds the right things at the store. It will also helpful in raising sale of products and services that1
will dramatically increase revenue of organisation. If company does not recognize requirementand preferences of the people then it will not be able to raise business at the desired level. Management Information system (MIS) – This is a documented record that containsentire information about the product development. It consists of product development activitiesthat are required to producing the goods that can satisfy customers. It contains specificinformation about products from planning, implementation and control. There is a requirementto closely watch each operational level so that product development growth can be measured inan effective way. There are various things that are needed to record through out the process sothat it can be analyse in an effective way. Market research - It is a crucial task for ALDI, in order to recognise needs andrequirements of potential customers it needs to conduct an effective research. It is beneficialbecause through research it will be easy for the organisation to provide goods to them. Researchis important because it supports in analysing requirements and preferences of the people becausecompany can provide customer satisfaction. In order to get success and sustain in marketplace afirm always needs to achieve customer satisfaction because if users are not happy with productsthen it is impossible to attain success. So if customer are not happy with the services then it willbe difficult for ALDI to stay in the marketplace for a long time (Wirtz, 2012). Market segmentation – This is a beneficial function of marketing because it helps inconducting research on behalf of segments of target market. In order to analyse market theresearch team can divide market in three basic segments such as demographic, geographic andbehavioural. Through these segments research team will be able to identify the needs of thepeople on behalf of their age, gender, status and so on. If ALDI is launching a new store in newlocation then it will research to identify the needs and requirement of people in a particulargeographic reason. So that firm can provide them specific things according to their requirements(Kladou and et. al., 2016). If company offers such things which are needed by them thenorganization will also increase its revenue. Monitoring market trends – Marketing team closely watch market trends and providesinformation to the organization. So that company can recognise actual trends of market andprovide goods according to the market needs and requirements. It is beneficial for ALDI becauseit will be update about changing preferences and priorities of the people. If it is aware about thechanging trends then it can develop new strategies to reach out people. These strategies will help2
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