Marketing Essentials of ALDI Report
19 Pages5472 Words31 Views
Added on 2020-07-23
Marketing Essentials of ALDI Report
Added on 2020-07-23
ShareRelated Documents
Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1 ...........................................................................................................................................1P1. Important roles and responsibilities of marketing function..................................................1M1 Analysis of different marketing roles played by ALDI........................................................3P2 Roles & responsibilities of marketing in organisational context...........................................4M2 Interrelationship of different departments with marketing...................................................5D1 Critical evaluation of components of marketing function & their interrelation with otherunits.............................................................................................................................................6P4 Marketing Mix of two different organisation........................................................................6M3 Different tactics used by ALDI in order to achieve its business objectives.......................11TASK 3 .........................................................................................................................................11P4 Produce detailed marketing plan..........................................................................................11M4 Produce Marketing Plan of ALDI......................................................................................14D2 Design Strategic marketing plan of ALDI..........................................................................15CONCLUSION .............................................................................................................................15REFERENCES .............................................................................................................................16
INTRODUCTIONMarketing refers to the management process by which products and services move fromconception to customer. It is an activity of creating, communicating, distributing and transferringofferings that have some value for clients, customers, society and partners at large. It is importantfor every organisation in order to introduce and promote new products in the market (Analytics,2011). Marketing is an activity through which firms communicate value and benefits of its goodsto customers. Effective marketing helps the firm in increasing sales and profits of company. It isthe responsibility of marketing manager to create merchandising plan and formulate appropriatestrategies to attain goals and targets of company. In the present assignment, chosen organisationis ALDI which is one of the well-known grocery retailers in United Kingdom. The report coversimportant roles and responsibilities of marketing function as well as its relationship with otherdepartments of organisation. It also includes the ways in which different firms apply marketingmix in order to attain business objectives. Apart from this, basic marketing plan of chosenorganisation is also developed and evaluated in this project. TASK 1 P1. Important roles and responsibilities of marketing functionMarketing concept deals in promoting goods and services in the market. It is the waythrough which firms communicate benefits and value of its products to customers that encouragethem to buy same. It helps in satisfying needs and demands of consumers by providing goodswhich they want. Main aim of every organisation is to earn higher profits and revenues and thisis possible only by satisfying customers. Thus, marketing emphasizes on promotion of thosegoods and services that completely satisfy the needs of target audience. It also helps indeveloping long term relations with them and gaining consumer loyalty. In present scenario,marketing trends are changing frequently and at the same time, needs of clients are also gettingchanged at a fast pace. So, it is necessary for the marketing manager to analyse current andfuture market trends as well as identify unfulfilled needs of customers in order to find out theway through which those requirements can be fulfilled (Aschengrau and Seage, 2013). It assiststhe firm to bring new products in market according to consumer's needs that satisfy them. In themarketing process, market situation is analysed in order to identify opportunities that assistsmanager in formulating appropriate strategies for value proposition. Strategic decisions are taken1
related to product development, its pricing as well as distribution and promotional campaign.After that, plan is executed and results are monitored in order to ensure its successfulimplementation. Corrective measures are taken by the managers if required. Marketingdepartment structure will vary on the basis of needs of business (Batt, 2013). Basically, itincludes leader and top level executives who develop strategies and supervise operations of team.Below defined are some key roles and responsibilities of marketing function that allow ALDI toattain their objectives and targets in an effective way. Marketing planning:In order to attain objectives, it is necessary for ALDI to formulate an effective marketingplan. For instance, if company is having 30% of market share and now, they want to increase itby 50%. For attainment of this goal, marketing manager of organisation needs to develop aconstructive plan which includes promotional efforts, production level and quantity. It alsodefines the roles and duties of manager and workforce towards attaining this. Marketing information system: MIS is used by companies to determine the changing needs of potential customers.Basically, this system assists in collection and distribution of data and messages related todislikes and likes of customers. Marketing manager utilizes this information in order to makestrategic decisions concerned with the production of goods and services. In order to attain growthand sustainability, it is necessary for the firm to use information related to customer’s choice inan effective way. For this, data should be collected frequently and products must be developedaccordingly. ALDI uses marketing information system to determine the customer needs. Financing: It is an important function of every organisation as it determines the sources throughwhich firms arrange funds and perform their operations. Firm needs capital in order to runactivities successfully without any disruption. It is necessary to have sufficient funds to carry outoperations effectively and smoothly (Chen, 2013). In ALDI, manager is responsible to manageenough capital and set up budget so that day to day operations can be performed without hurdles.They mainly arrange funds by bank, investors, debt, etc. Promotion:It is one of those marketing functions which highly contribute in increasing theprofitability of company. Promotion is the way through which firms create awareness among2
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
Report on Role of Marketing Manager of Aldilg...
|16
|5150
|117
Role and Responsibilities of Marketing Essential in ALDIlg...
|17
|5864
|324
Essay on Marketing Essentials ALDIlg...
|17
|5477
|70
Aassignment on Roles and Responsibilities of Marketing Functionslg...
|16
|5350
|57
Marketing Firms and Its Roles of ALDI : Reportlg...
|17
|5614
|43
The ALDI Marketing Essentials INTRODUCTION 3 P1 Key Roles and Responsibilities of the Marketing Functionlg...
|14
|4043
|161