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MARKETING MANAGEMENT
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TABLE OF CONTENTS INTRODUCTION...........................................................................................................................3 Marketing audit and TOWS matrix of ALDI..............................................................................3 Marketing objectives for marketing campaign of βExpressing Ourselvesβ.................................5 Marketing mix plan for the campaign.........................................................................................6 Improving the level of consumer services for the marketing campaign.....................................8 CONCLUSION................................................................................................................................9 REFERENCES..............................................................................................................................11
INTRODUCTION Marketing is defined as the process through which company plans for making and developing strategies for the marketing of the goods and services in which the company deals (Deepak and Jeyakumar,2019). Hence, the marketingmanagementis referredto asthe managing all the activities relating to the marketing and promotion of goods and services in the market. It is very important for the company to manage the competition as the competition within the business world is very high and to maintain it, it is necessary for the companies to work in effective and efficient manner. Thus current study is directed towards the marketing plan of ALDI which is named as βExpressing Ourselvesβ. ALDI is a large chain of supermarket which was founded in the year 1946 by Theo and Karl Albrecht the current report will outline the marketing audit and the importance of marketing audit for the marketing campaign of company. In the next part the report will outline the marketing objectiveswhich are being made for the company for continuation of the marketing campaign. Further for the marketing mix plan for the campaign will be made. In the end the improvement of the consumer services for the improvement of the marketing campaign of ALDI. Marketing audit and TOWS matrix of ALDI Marketing audit is a structured process which is being used by the company in order to know the marketing policies and strategies of different department and competitors. The marketing audit is very important for the company to conduct as this helps the business to know about the business environment and the changes going within the market. The business exists in the market which is very dynamic and frequently changing and it is crucial for the company to analyze these changes. This is necessary because of the fact that if the company will not work or adapt the changes then it might be possible that the business may lose its competitive position. Hence, for this purpose this is necessary for ALDI to conduct a marketing audit. Another major reason behind the marketing audit is that this analysis helps the company in making and defining the policies and strategies for the working of the company (Ellram and Murfield, 2019). The major reason underlying this fact is that this marketing audit helps the company in analysing the strategies of its competitors and this helps the company in making its policies by keeping in mind the policies of the competitors. One more important reason for
marketing audit is that this help the company in taking the decisions relating to every aspect of the company and it is helpful because of the reason that the decision making help the company in directing the business on the path of success and profit (Chonko and Hunt, 2018). This audit is very systematic as it helps the company in analysing in systematic manner of all the details and points relating to the business and its competitors. Also, there are many different tools and techniques which is helpful for ALDI in conducting the marketing audit. These tools and techniques are very helpful for the business in managing its business as these tools give a direction to the companies that in which they have to work. The major tools available for conducting the marketing audit are like SWOT analysis, PESTLE analysis, Porter five forces and many others. All these tools and techniques of marketing audit assist the company in taking the decision relating to the marketing policies and strategies. TOWS matrixThreat The first and foremost threat is the competition only because therearemanycompanies dealing in same industry and this causes threat of losing the consumers. Another threat is the changes taking place in the taste and preferences of the consumers. Opportunities The major opportunity for the company is to expand at the international level so that the business is increased to a great extent. Another major opportunity is ofdevelopingandinvesting themoneyinthedigital advancementanduseof digital marketing. Weakness The major weakness is of poor employee satisfaction with the company and its offering to employees. Anothermajorweaknessis that the company is not able to mark its presence at the global The major threat that is high competition is because of the weaknessofnotbeableto havegoodinternational presenceinglobalmarket (Hackley,Hackleyand Bassiouni, 2018). Anotherthreatofchanging Themajoropportunityof expanding internationally may bedisturbedbecauseof weaknessofcompanynot having global presence. Theotheropportunityof developingandinvesting moneymightberestricted
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level.tasteandpreferenceofthe consumer is majorly because oftheweaknessthat employeesarenotsatisfied. Andbecauseofthislow satisfaction they do not work in more effective and efficient mannerforanalysingthe changes taking place in need and preferences of consumers. becauseofdemotivated employees.Thisismajorly becauseofthefactthatif employeeswillnotbe motivated then they will not haveinterestinthe technological advancement. Strength The major strength is of high level of consumer support. Another major strength is of great saving which company has because of low prices of productandlowoperating cost. One more strength is of good productmixwhichthe companyisofferingtothe consumers. The threat of high competition can be minimised with help of strengthofsavingof company.Thisismajorly because of the reason that this savingcanbeemployed withintheformationof policiesofreducing competition. Anotherthreatofchanging consumer needs can be solved withhelpofgoodproduct mix. This is majorly because of the fact that this variety of productmixwillhelp consumerinsatisfyingtheir needs and demands. Themajoropportunityof expandinginternallyis supported by the strength of highlevelofconsumer support. This is because of the factthattheconsumerwill support the company if it will go in any other country for expansion (Di Benedetto, C.A. and Lindgreen, A., 2018). Theotheropportunityof investingindigitalup gradationandsocialmedia marketing is assisted by the great saving of the company. This is majorly because of the factthatthiswillhelpin investing the saved money in thenewandadvancedand technology.
Marketing objectives for marketing campaign of βExpressing Ourselvesβ The aim is referred to as the reason for which the company is established and is running its operations. Behind every working there is some or the other aim and objectives for which the company is working (Lindgreen and Di Benedetto, 2018). These aims are the ultimate reason behind the existence of the company and its operations. But it is not at possible for the company to attain that aim in easy manner. Hence, for this the company breaks these aims into smaller part like objectives and missions. These objectives are the path or the directions in which the company is directing its employees to work. Hence these objectives are treated as some directives and guidance which the company is giving to its employees to work in the same intended manner. This is necessary because these objectives are set in advance and these provide a direction of working to the employees. Thus, it is very necessary for ALDI to formulate the aims and objectives for each and every department and especially for the marketing department. This is very necessary because of the fact that the marketing is the crucial department within the whole business. This is majorly because of the reason that the marketing is an essential activity in this highly competitive world and it is crucial for ALDI to manage its marketing department. Hence for this the company is planning for a marketing campaign named βExpressing Ourselvesβ. Also, it is very necessary for the company to set the objectives on basis of SMART criteria. This is majorly because of the reason that the SMART includes specific, measurable, attainable, realistic and time bounded. The specific criteria includes the fact that the objective need to be clear and specific and answers the W question like what, why, who, where and which. Another criterion that is measurable and it states that the objective needs to be recordable and be able to be tracked. Another criteria is the attainable that is the objective need to be achievable and not vague and without any assumptions. Also, the other criterion is the realistic that is the objective to be made must be realistic and based on true facts. In the end the objective must be time bounded that is must have time limit that is in that it needs to be attained (Grishina, Volchkova and Ageeva, 2016). Hence, in respect of this ALDI is planning for a marketing campaign named βExpressing Ourselvesβ and for this the objectives of the company are as follows- ο·To enhance the presence of company with help of the digital platform and social media platforms by 20 % by August 2020.
ο·To increase the sales of the company with the assistance of this campaign by September 2020 with 25 %. ο·To increase the loyalty of the consumer with 40 % till the end of 2020. Marketing mix plan for the campaign The marketing mix is defined as the mix of all the elements which are required for the decision to be taken for all the aspect related to the marketing (Lindgreen and Di Benedetto, 2018). It is very necessary for ALDI to take the decision relating to the product and services of the company. The marketing mix of the marketing campaign of ALDI that is βExpressing Ourselvesβ is discussed as follows- Product- this is referred to as the goods and services which the company deals in and services to the consumers. This is the most important part for the success of company and for the marketing of the goods and services. The product of ALDI includes a variety of product and services such as food, fresh fruits and vegetables, bakery items, health and beauty products, pet care foods, mobiles, gas station, petrol and many other related products. Price- the price is defined as the amount of money which is charged by ALSI from its consumers in exchange of giving the product and services. Hence, it is necessary for the company to charge good and nominal prices so that it is not high for the consumer and they can afford it. The pricing strategy used by ALDI is competitors pricing. This is majorly used because of the reason that in this strategy ALDI will analyse the prices of competitors and then will fix its prices. Place- this is referred to as the place form where ALDI provide all its necessary goods and services to the ultimate consumers. For this ADLI will make use of both distribution channel consisting of a chain of intermediary and retailers. Also, in addition to this long chain the online mode of distribution is also used by company. Under this method the consumer places the order and then after the order is placed the company y deliver the goods and services to the consumers. Promotion- this is the most important aspect of the marketing mix of ALDI and its marketing campaign. This is majorly because of the fact that the competition is very high and to meet it the major strategy useful for ALDI is promotion (Brown, Foroudi and Hafeez, 2019). This is majorly pertaining to the fact that promotion helps the company in making the consumers aware about all the features and utility of product. For this ALDI is mainly focusing on the social
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media advertising because this is the most common and latest technique of promoting the goods and services. People- this is also an important aspect of the marketing mix because without people no work can be completed within the company (Adams, Freitas and Fontana, 2019). Hence, this is the most important thing to be taken care of. It is so because of the fact that if the people within ALDI will not be managed in proper manner then the working will not take place in effective manner. Hence, for the success it is necessary for ALDI to take care of the people and all the employees within the company. Process- this is referred to as the process which is being followed within the company for making its operation successful. The process includes the standardised and non- standardised process for making the operations of the company successful. The process of ALDI includes the use of good quality raw material and ingredients in the making of the goods and services. This is necessary because of the fact that this includes the standardised process of making the goods and services of company. Physical evidence- this is defined as the intangible substance within the business and which assist the company in managing its ambiance and atmosphere within the workplace. The physical evidence includes the environment and the ambiance which is being created by the company in order to manage its working. This is necessary to be maintained because if the physical evidence is not created in effective manner then the consumers will not like it. Thus, in the end it is concluded that for the success of marketing campaign of ALDI that is βExpressing Ourselvesβ it is necessary that the company is ready to take good and effective decision relating to the whole product mix. This is necessary because of the reason that if these decisions are taken in effective manner then the company will definitely get success in its operations. Improving the level of consumer services for the marketing campaign For the success of the company the most important thing is that the consumers are satisfied with the services and products of the company. Hence, for this it is essential for the companies to keep the consumer satisfied with the goods and services being offered by the company (da Silva and Las Casas, 2018). Hence for this the most important thing for ALDI to take care is of consumer services. The consumer services are referred to as the additional services which the company provides to the consumers in addition to the goods and services. The
consumer service is important for the success of the marketing campaign of ALDI because if the services will be provided in effective manner then the consumer will be satisfied and will be loyal to the company. Hence, this will increase the loyalty of consumer towards the product and services of the company (Wagner and Eggert, 2016). Thus, this will increase the number of consumer because if the consume will be loyal then they will not switch over to other brand. Also, if the consumers will be loyal then they will try to promote the goods and services on their own and this will increase the number of consumers. Another major importance of consumer service is that this will also increase the goodwill of the company within the market. This is majorly because of the reason that when the consumer will be provided with good services then they will try to promote it and this will increase the goodwill of the company within the highly competitive market. Hence, this will provide a competitive advantage to ALDI as they will have good market position and this will increase its sales and in turn this will increase the income of the company. Another major importance for the good consumer service is that the company will gain the benefit of word to word mouth publicity which the satisfied and loyal consumers do. Thus, this also helps ALDI in increasing the number of new consumers. Also, these consumer services help the company in retaining the existing consumers by giving them extra privileges and benefits. Improving the consumer services Thefirstandforemostmeasureforimprovementistosetsomemeasurableand achievable target for the increasing the consumer services. This is majorly because of the fact that these goals and objectives will provide a direction to the employees within ALDI to work in the fulfilment of consumer needs and make them satisfied. Another major way of improving the customer service is that they must take regular feedback from the consumer as how they experience at time of consuming the goods and services of ALDI. This is necessary because of the fact that this feedback will help company in knowing its actual position and this will also assist ALDI in making necessary and relevant changes within the company as per the feedback of consumers. Another measure for improving the consumer service is that company must also hire a good researcher who will assist the company in finding all the necessary changes which are taking place within the environment. This is necessary because if ALDI will not take care of the
changes taking place in respect to consumer needs then how it will be providing them to the consumers. Hence, in the end it is said that the proper management of consumer service is needed as this will increase the business of company and will promote the business to higher level. Hence, for ALDI it is necessary to apply all the necessary improvement areas provided above. CONCLUSION In the end it is concluded that the managing the marketing of the company is very necessary and crucial. This is majorly because of the reason that if the company will not manage its marketing strategy then it might be possible that the company is not going to get success. Hence, the report stated that the for managing good marketing strategy the most important thing is conducting marketing audit with help of TOWS because this will help the company in managing all the changes taking place in the business environment. Further the discussion took place on the making of marketing objective and its importance and relevance of SMART objectives. Next this demonstrated the marketing mix including all the 7 Ps of marketing. In the end the relevance of the consumer services and the improvement of the consumer service for the success of the company were discussed.
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