Marketing Essentials Assignment of ALDI

Added on -2020-07-22

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MARKETING ESSENTIALS
INTRODUCTION...........................................................................................................................................3TASK 1..........................................................................................................................................................3P1 Important roles and responsibilities of marketing function.................................................................3P2 Roles and responsibilities of marketing function in Aldi....................................................................5TASK 2..........................................................................................................................................................6P3 Application of marketing mix to marketing planning in Aldi.............................................................6TASK 3..........................................................................................................................................................8P4 Marketing plan of Aldi.......................................................................................................................8CONCLUSION.............................................................................................................................................11REFERENCES..............................................................................................................................................12
INTRODUCTIONMarketing is considered as one of the important factor that aids an organisation tounderstand different factors in market that includes competitive market, market place, consumerbased marketing and strategies,building goodwill and profitable relationship among customers.In current business market several plannings are made by organisationare customer driven thatreflects in marketingand promotion strategy of organisation (Mihart, 2012). This report is basedon the case study of Aldi, it is a UK based supermarket chain that has increases their grassrootsover 20 countries with more than 10,000 retail outlets functioning efficiently. The company isperforming very efficiently in market with their effective promotional and marketing strategies.They have potentially applied several theories including marketing mix, that help them toanalyse both internal and external business environment. The assessment also includescomparison between organisational strategies. Aldi and their competitor in business market andat the end recommendations are also provided that will help Aldi to have a positive approach inperforming in marketing ineffectual way.TASK 1P1 Important roles and responsibilities of marketing function Marketing function is used for identification of product, their capability before launchingthem market. In larger context marketing function includes marketing planning, productdevelopment, promotion, supply chain management, customer services, customer relation etc.All these factors are effective for an organisation as it helps company to increase their brandimage and financial base in market in different geographical location. Some of the majormarketing functional that contribute in progression of Aldi are sales support system, marketingsurvey, product development, promotion of individual product, research of market, andmonitoring the sales volume of product (Smith, 2014). The marketing department plays crucial role in maintaining and functioning activities oforganisation in market structure. They are responsible for increasing brand image oforganisation by enhancing their growth and popularity in different market sector. Some of themajor work manager of Aldi plays is communication, financing, distribution , demandforecasting, better supply chain management and increase grass root of company in differentmarket sector. Several important marketing functions are given below that will help inincreasing capability of organisation capability of organisation in market place are given below –Functions of marketing adopted by different retail company to increase their growth andprofitability. Marketing strategies – It is responsibility of top level management of organisation tomake effective planning and strategies that will help company to have core competence inmarket place. Before implementing any strategy a manager must ensure that he has ample
knowledge of macro and micro factor that will help them to effectively execute their strategies.As Aldi is dealing in variety of products across their retail stores they have to make planningand strategies for every manufactured item to earn more revenue from market (Lane, 2016).They also have to analyse the demand of their product in different geographical region as tasteand choices of people are different from place to place Market research – Before investing in any market it is essentials for manager todeterming different factors to invest and invrease their revenue. Some of the important factortsthata they have to analyse are types of prople, volume of people, ethical values of people, cost ofcapital, funding requiredfor investmemnt etc. To get adequate information and analyse themproperly the organusation is using qualitative and quantitative approact for efficient analysiadata. Development of product – It is crucial for organisation to develop their producttoincrease their sales activity. In retail stores products are not manufactured instead of that theorganisation must plan to increase their sales volume by different promotional technique.Communication – Spreading knowledge about the product is necessary for comoany tomake people know ablut their product. Aldi is dealing in variety of food products that areessential in day to day life (Pappas, 2017). So by making people aware about quality of productit will be able to increase their sales volume in different geographical market. Supply chain management – Inventory and transportation management plays vital rolein increasing revenue for organisation. It helps in fufillion demand of people in desired timeinterval that will helpful in creating a better image for organisation among their customers(LEHTINEN , 2012). Promotional activity – For generating better outcome for business activities comoanyhas to adopt diffrent platform to increase their promotional activities so that they can be able toperform better in different market. They can use digital medium, printed media or classicalmethod to spread their business efficiently in different business market. Finance -This is one of major factor that has to consider while doing business. Weakfinancial base of any organization cannot help them to invest according to their wishes (Desai,2013) . Aldi is having by a good financial base that has helped them to increase their retail storein more geographical location. It is not possible for any company to invest in business activitywith their own financial assert. So they have to plan to extract money from the market. Some ofthe major sources of finance of Aldi are angel investors, shareholders, local businessmen,sponsors, merchandise and government support.Management of products – Apart from marketing of product it is essential fororganization to manage their products , company have to give equal importance to their productso that they can be able to increase their value in market. An organization do not want one of

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