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Marketing Essentials Assignment Solved - Doc

   

Added on  2020-10-05

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MarketingEssentials

Table of ContentsINTRODUCTION ..........................................................................................................................1TASK 1...........................................................................................................................................1P1 Marketing and its Roles And Responsibilities.................................................................1P2. Interrelation of Marketing functions with other business functions ...............................4TASK 3............................................................................................................................................5P3 Comparison of marketing mix of Aldi with TESCO ......................................................5TASK 3..........................................................................................................................................10P4 Marketing-Plan................................................................................................................10CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................15

INTRODUCTION Marketing is both a function and strategy that is concerned with producing,communicating, delivering goods and services that have certain value for consumers. In today'scompetitive business scenario every large and small scale, public and private, global and local,innovative and traditional firms are competing for same market. In this aspect role of marketinghave evolved from just been concerned about products and services into a holistic approach thatassists in creating and maintaining a desirable demand, competition and reputation of a company(Clow and James, 2013). Aldi is one of the leading chain of discounted supermarket establishedin 1946 with its headquarters in Essen, Germany. The report is based on the roles andresponsibilities of marketing function along with giving synopsis about how marketinginterrelates with other functions. Further it will compare marketing mix strategies of two leadingfirms of same sector and will provide brief marketing plan for Aldi. TASK 1P1 Marketing and its Roles And ResponsibilitiesMarketing is customer centric approach that includes close knitted efforts for innovatingand manufacturing products and services that are most appropriate in catering unfulfilleddemands and needs of consumers (What is Market and discuss the Main Functions of Marketing,2011). With advent of digitalization and internet data accessibility about items have increased forcustomers enabling them to locate firm's review, product and stock information, various optionsof vendors to buy from and so on. Therefore, the role and responsibilities of marketing havedrastically changed from merely publicizing about goods and services to creating brandreputation, product development, building relationships with stakeholders and so on.Aldi being a global firm is conducting its operations in more than 20 nations across theworld where in its operation of more than 10,000 stores is been efficiently handled by aproficient team of more than 2000000 employees across the world (History of Aldi Group, 2018).Thus, having to survive in such big competitive business scenario and to maintain its marketshare marketing managers of Aldi follows a decentralized structure where in all its divisionsworks autonomously in healthy fashion to contribute in organization's growth and development(Kennedy and Parsons, 2014). Marketing department of Aldi follows an intensive marketingprocess that involves 1

Analysing market opportunities where in managers of Aldi make use of Managementinformation system to that reveals various market statics, trends, information related tomicro and macro environment etc. It helps organization to determine uncaptured desiresof its consumers and to make necessary modification in its present products orintroducing an entire new product.Selecting target market that includes segmenting market population on the basis ofvarious factors like age, income, geography etc. There after marketing managersanalysing various market trends and people preferences choose most appropriate targetaudience for whom its products and services are best fit and also formulate strategies toposition it as mass or class product. Developing of marketing mix that forms third step of marketing process involvemanagers of Aldi to prepare most attractive and suitable amalgamation of its 7P's i.e.product, price, place, promotion, people, physical evidence and process (Papasolomouand Melanthiou, 2012).Managing marketing efforts that is last step of process and directs towards monitoringperformance of various strategies and plans Tahiti er complemented to ensure that allMentioned below are certain most prominent roles and responsibilities undertaken bymarketing department of Aldi :Product and service management: One of the most critical roles and responsibility ofmarketing department of Aldi is to handle management of its goods and services. This includesseveral activities that are concerned with obtaining, processing and improving quality and priceof product and service in context to changes occurring in customer's needs and upcomingopportunities related to business environment. Also. Managers of Aldi pay special attention to itsdistribution channel system and maintain efficacy in its so as to reduce waiting time of itsconsumer. Aldi also is known for its good after sales services where in company ensures toefficiently handles its consumers queries, take their feedbacks for improvement. Market Research: It forms one of the most integral responsibility of marketing functionthat contributes largely to the growth and sustainability of a company. Managers of Aldi byconducting periodic market research keep on gathering information related to emerging marketopportunities, to understands its rival's strength and weakness, to ascertain latest technical orother market updates, to gain knowledge about uncaptured demands of customers etc. Thus, by2

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