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Marketing Management of Lidl

   

Added on  2020-07-22

19 Pages6268 Words88 Views
Finance
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INTRODUCTION TO MANAGEMENT
Marketing Management of Lidl_1

TABLE OF CONTENTSINTRODUCTION TO MANAGEMENT..........................................................................................1INTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3TASK 1............................................................................................................................................3Specific areas of product market growth................................................................................3TASK 2..........................................................................................................................................10Segments which provide Lidl Company with higher yield of consumers............................10TASK 3..........................................................................................................................................147 P's of Marketing Mix model to target the identified segment...........................................14CONCLUSION..............................................................................................................................16RECOMMENDATIONS...............................................................................................................16REFERENCES .............................................................................................................................19
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INTRODUCTION Marketing is the most important aspect of any business organisation, it helps in branding,promoting and creating a certain image of the product among the customers and allows them tomaintain a sustainable position in the market. In other words, marketing is the managementstudy of exchange relationship among brands and their customers. It is the tool which is used tocreate and establish various aspects of the products in order to gain the attention and attraction ofthe customers. Marketing is one of the major aspects of the business organisation as it helps inpromoting and creating recognition of the products and services provided by them (Brar, Kumar,Patil and Gade, 2018). It also helps in creating value for the customers and helps in identifyingtheir needs and expectations in order to provide them better services and facilities. Lidl operatesits business function in retail industry and was founded in 1973, the company owned 10,000stores in approximately 28 European countries. It is Germany based supermarket chain whoprovides discount products and services to their customers in order to increase their savings. Themain aim of this report is to identify the factors that influence the working of an organisation,factors of customer’s segmentation and marketing mix model of the organisation. MAIN BODY TASK 1 Specific areas of product market growth Over past few years, the supermarket industry has seen a rapid change and growthbecause of the economic growth of the market. The most important aspect of the super marketindustries are ability and capability to control on hand stocks, attractive presentation of theproducts and car parking availability. Lidl is expanded into high end chain of supermarket likeAldi and Waitrose. As per the data of February 2018, the sales of retail stores have beenincreased by 0.8 % as compared to the previous months (Boonpradub, 2015).
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Illustration 1: The value of the grocery retail market in the United Kingdom (UK) inthe year to April 2014 and a forecast for the year to April 2019.
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