Marketing Objectives for Tagline “Express ourselves”
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This report explains about ALDI is a strong discount supermarket chain that is having 10,000 stores in approx 20 countries. It discuss about marketing plan that company is making in order to increase its sales and gain competitive positioning.
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MARKETING MANAGEMENT
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TABLE OF CONTENT INTRODUCTION1 Marketing Objectives for tagline “Express ourselves”1 Marketing Plan2 Conclusion5 REFERENCES5
INTRODUCTION Marketing is most important process of firm that included various activities such as identifying needs of customers and planning for ways to satisfy such needs. Marketing manager has to effectivelymanage variousfunction of company relatedto marketingand search opportunities so that firm can achieve gain competitive advantages in the market. This report explains about ALDI is a strong discount supermarket chain that is having 10,000 stores in approx 20 countries. It discuss about marketing plan that company is making in order to increase its sales and gain competitive positioning. TOWS Matrix for ALDI Tows Matrix refers as the technique which is used to examine, generate, compare and elect business tactics to gain defined goals and objectives of organization i.e. increment of sales, improve profit scale and expand brand image values among the public. It is strategy making procedures which works on SWOT to find out opportunity that can apply for future strategy. The mainpurposeofTowsmatrixinbusinesstomatchit’sinternalstrengthwithexternal opportunities (so) to introduce maxi-maxi strategies which supports to gain success over the period. ALDI is a German company which applies Tows matrix to analyse its opportunity and strength so that easy to meet it’s objectives over the time. Tows matrix is described below: ALDIStrengths-S High brand image Offershighquality products High market presence over 15countriesaroundthe world. Maintainsoperatingcost low Wider product portfolio Good financial position High workplace diversity Weaknesses-W Poorinventory management Less expenditure on R&D department Inabilitytounderstand customer needs Poor customer services Limited range of products Lowlevelofpromotion channel Misalignmentbetween leadershipstyleand 1
organization objectives. Opportunities-O Developmentof new technologies Incrementin customer disposable income EmergenceofE- commerceand social media Emergence of new market Customer starts to prefernewand innovativegoods and services SO Strategies Highbrandimageand developmentofnew technologyimproves market share of company. Incrementincustomer disposable income helps to improve product quality. Emergence of new market supportstoexpand business in other country except 15 countries. Diversityatworkplace supports to meet customer preferences. WO strategies Developmentofnew technology0vercome inventorymanagement performance. High income of customer helps company to expand highfundonR&D department. By socialmediathrough easytounderstand customers needs and their preferences.E-commerce improvescustomer services. Newmarkethelpsto improve product line. Customer preferences and demands helps company to removemisalignmentin leadership style. Threats-T Fewerskilled labourinthe market Improving environmental sustainability trends Continueschange ST Strategies High workplacediversity overcomeshortageof skilled labour. Highqualityproduct overcomesenvironmental sustainability trends. Goodfinancialposition overcomecontinuous WT strategies Poorinventory management and shortage of skilled employees can createthreatfor organization. Low investment on R&D can’t overcome threats of environmental 2
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inregulatory framework Highlevel competitionfrom supermarketchain suchasTesco, Asda,Sainsbury, Primarkand Morrison Riseininflation rate changeinregulatory framework. Product portfolio helps to takecompetitive advantage from rivals. Rise in inflation rate issue overcome by low cost of operating. sustainability trends. Continuouschangein regulatoryframework causesunableto understand customer taste. Limited range of products andpoorcustomer services creates high level competition for Aldi. Duetomisalignment betweenleadershipand core objectives unable to complywithinflation threat. SO Strategies Aldi has high brand image in supermarket chain which is major strength of company where organization gets new development of technology that is golden opportunity for company because they can upgrade brand position by offering high quality services to customer, it is not only improves brand image but also supports to take competitive advantage from competitors. Aldi offers high quality products which is important strength of organization. In addition, organization gets opportunity that customers’ disposable income improves which enhance their purchasing behaviours for expensive products. WO strategies Organization has poor inventory management which is major weakness but it can overcome by new technology because it helps to give new technology so that they can keep control on inventory cost as result easy to save extra cost which they have to invest. Aldi expenditures fewer funds on R&D department because customer like to buy only those which has high quality and available at lower cost (Bruhn, Meffert and Hadwich, 2019). However, increment in disposable income of customer is a best opportunity because now company can invest more funds to get innovative product. even customer also able to buy expensive products without 3
concerning about cost. ST Strategies The shortage of skilled labour in market can give challenge to company but it has high diversity at workplace. so organization can easy to overcome threats and gets highly skilled talent who is more creative nature (Slonaker, 2016).By the opportunity organization can get innovative working environment and gains higher profitability. Organization has good brand presence over 15 countries worldwide which helps to attract customer and supports to overcome level of competition.The reason behind is that organization is famous as affordable super market chain which assist to win market competition.Apart from this, new technology supports organization to improve customer services in return easy to generate high revenue. WT strategies Organization has poor inventory performance but organization can’t improve because skilled labour is fewer in market. So it can become major threat for company because they can’t recruit such kind employee who supports to reduces inventory cost (Hyder, 2016). Aldi has limited range of product and poor customer services as well which encompasses into weakness. So, organization can’t compete with big four competitors like Asda, Sainsbury, Tesco and Morrison. Thus, these companies can become big threat for organization. Marketing Objectives for Tagline “Express ourselves” From the above analysis of firm weaknesses and threats it can be stated that it can has to find various ways to remove its weakness and protect itself from various external threats such as competition (Wilson, 2017). It is necessary for growth and survive of company in retail industry so firm in order to remove its weakness and to gain competitive advantages has set specific goals and objective to be achieved within period of 1thMay 2020 to 30thApril 2021. Various objectives and goals set by ALDI to effectively managed activities of marketing and increases its sales are as follows: To increase its market share by 15% within 12 month Company is planning to increase its market share by launching new products and services in order to attract present as well as new customers to prefer ALDI products over other competitors in the market. It has also introduced new tagline to attract large number of customers namely “Express ourselves” that means company is trying to reset its positioning and brand 4
image of firm in mind of customers by enhancing its quality and features of existing products. At the same time planning to launch organic products to meet needs of people that are highly concerned about their health and safety (Armstrong and et.al., 2018). Therefore firm by launching new products range and adding new features in existing products is able to satisfy needs of people and increase its market share. ALDI has also think to use social media in order to attract and influence number of people as most of individual spend time using social media. Thus, by use of such innovative technologies company is able to enhances its market share by attracting new as well as existing customers. To increase sales by 20% within a period of 12 month by improving customers satisfaction and loyalty Another objective of marketing management is to provide better customers satisfaction and to develop and retain customer’s loyalty so that people prefer ALDI in comparison to other companies. Marketing management is planning to provide customers satisfaction by continuous presence in social sites so that it can easily connect with people and understand their problem or what they have feel while using products. Therefore by using such feedback helps in improving level of satisfaction and building trust among people.Loyalty programs and card are also used to provide special discount offer to people that are mostly purchase products and services of ALDI. Thus, it helps in retention and satisfaction of customers beyond their expectancy as ALDI provides qualitative products at reasonable rates (Chang, Wang and Arnett, 2018). Through such way company is express what is ALDI and what are the services and products that ait provides in order to meet needs and demand of customers. To improve market research and use of innovative technologies to meet demand of customers by 2021 Company another objective is to improve its market research so that it can easily and effectively identify needs and demand of customers. ALDI has planned to invest more in research and development demand so that changing needs and trends of people can be satisfied and it can gain competitive advantages. Firm by investing in R&D and using innovative is able to more reduces cost of production and bring economic of scale, enhances quality of products thus able to meet need of customers and increase its sales and profit margin of company. 5
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Marketing Plan Marketing mix plans refers to the various tools such as price, place, promotion and physical distribution that attract people to make purchase of firm products and services. Therefore on basis of above objectives of firm marketing Mix plan of ALDI is as follows: Marketing Mix Marketing strategy for product: As per marketing research it has been found that people are highly conserved about their health and safety due to increasing diseases in the environment (Cornwell and Kwon, 2019). ADLI is planning to launch organic products so that it can meet need and requirements of people that are conserved about their health and want to have hygiene and organic products. Therefore, company by conducting marketing research is able to know about unsatisfied need and want and able to plans effective strategies to attract customers to make purchase. Various strategies are formulated by company so that people prefer products of ALDI over other competitors such as effective pricing and quality of products and services. As company has plan to use tagline is “Express ourselves” that means company want continuous feedback from customers about its quality of products and services render to customers. Thus it can find ways to improves itself in terms of quality of product or services render or place where products and services available to customers. Another strategy is to expand market share by adding new product range such organic products to satisfy needs of unsatisfied customers. Thus all such marketing strategies and plans help ALDI in its growth and success. Pricing As we all know that ALDI is one of the best known company that provides products at reasonable rates so every people can easily purchase and choose ALDI over other competitors (Wali, Uduma and Wright,2016). Market research conducted by ALDI also explained that disposable income of people is reduced in UK so people like to buy products and services that are affordable rates. Therefore low pricing helps in increasing sales and meeting needs of customers. Positioning or place strategy: 6
It has gain differentiate positioning by setting low price for its products thus attracting large number of people to purchase and helps in increasing sales volume and profit margin of firm.. ALDI is planning to use social media to attract wide number of people to get aware about quality of products and various after sales services, discounts offers that firm offers to its customers (Cao,Duan and El Banna,2019). Therefore customers can easily identify ALDI over other competitors as it is well known for discount providers thus attract number of people of UK to make purchase thus promote growth and success of business Promotional strategy: Price is one of the best promotional techniques that is used by ALDI to promote people to choose ALDI as it offers qualitative products at reasonable rates. Social media and hoarding and boarding are some of the other medium that are used by company to promote its products and services to customers. Well established and better infrastructure facilities helps in promotion of products and services to customers as they can easily get most their products at one stores. Physical Distribution plan: Company is planning to provide products through its supermarket retailer chain across various countries so that customers can easily come and make purchase. People can also purchase product through online or its website thus while staying at home products are deliver at their doorsteps (Palmer and Truong, 2019). Technology updation and online shopping are some other demands of customers as mostly people like to purchase products that can be easily deliver at their door steps that does not have to make additional efforts to go and purchase product from stores. Process: Function and operation of firm are effective because of highly skilled employees that render qualitative services to customers. It has various stores and continuous presence in online so that customer can easily connected with company and meet their needs (Tafesse and Skallerud,2017). Such presence and effective operation of various activities helps firm in meeting needs of large number of people within limited time and cost. People: 7
Employees of firm are high skilled, knowledgeable so that they can effective work for growth and success o company. Manager of ALDI motivate and influence people to work effectively by coordinating individual goals with organisational goals (Rindfleischand Malter, 2019). Therefore employees work together for common objective and they also helps in promotion of brand image as they are highly satisfied with the operation of organisation. Firm has used 7p’s of marketing mix such as offered wide varieties and standardise and qualitative products at reasonable rates, place of product is also well defined, effective pricing is best promotional strategy used by company (Luiz, 2016). Therefore marketing mix helps company gaining competitive advantages and increasing its profitability. To improve their level of customer services by the “Express Ourselves” marketing campaign The main goal of the marketing campaign is to enhance brand awareness in people and builds their trust on brand. Express ourselves is the main theme of campaign which is given to put pressure on customer that they understand value of brand and it’s products. Organization has main purpose to execute campaign strategy is that to improved customer services. Aldi adapts various strategy to improves customer services such as customer loyalty program, CSR, club cards and others. there are several strategies which adapts by organization. These are described below: Club Card strategy Aldi can offer club card to customer which is adopted by organization. The main goal of the strategy to retain customer prolong time within organization so that easy to gain sustainable profit from them. Club card means when a customer buys large quantity of product or purchase regular basis then it is issued by retailer to customer which permits card holder to get discount on purchases. The procedure of club card is very simple such as initially employee looks up club price by the help of computer then club card is scanned by computer scanner. Thus, customer get discount on their purchasing commodities. The club card schemes can help to keep customer happy and builds trust of customer on company and its services. This strategy can involve in marketing campaign that can support company to improve customer services. Customer Loyalty Program It is another strategy which Aldi can follow in marketing campaign because it has purpose to build customer loyalty on brand so that they purchase overall products from company and shows their loyalty for company. In the program involves those customers who purchase 8
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companies’ product on regular basis rather than to switch other shops then organization shows greatness of customers and gives vote of thanks. In addition. Company encourages customer to give their suggestion about products and their services so that they can improve it. Aldi can organize this program which can help to segment loyal customer and can retain them prolong time by giving respect. Even this program is not only help to build loyalty o customer on brand but also raises good will of company in business market. So, organization can use this strategy to create customer loyalty on brand and its product. Improve technical skills It is also good option to improve level of customer services. The reason behind is that when organization has highly skilled employees along with technology then they can improve quality of services and product as well. When employees have high technical skills then can operate any type of technology either existing technology or emerging technology. So, Aldi can involve this strategy in marketing campaign. It is not only supported to improve customer satisfaction but also leads competitive advantage. If organization improves technical skills becomes easy to deliver high level services to customer and can win competition market as result can enhance market share of products in global market. Customer relationship management (CRM) It is a management which handles overall quarries and complaints of customers and builds good relation by resolving their issues for products and services. In addition, CRM encourages customers to give their suggestion about company’s products and services so that can improve quality of its services (Soltani and Navimipour, 2016). CRM has aim to establishes good relationship between customer and company and improves performance of business as well. ALDI unable to understand needs and preferences of customers due to poor customer services. By the CRM strategy organization can understand about customer’s psychological behaviour and can offer desirable product which they expect. Apart from this, company can gather feedbacks of the customer by the help of CRM and can recruit technical skilled employees within workplace who can lead creativity in product and its services. So, CRM is also an alternative option which company can involve in marketing campaign. It can assist company to improve level of services for customer and can raise brand presence in global market. 9
Conclusion From the above report it can be concluded that Marketing management is an important process that helps in influencing and identifying needs of customers to increase sales and profit margin of firm. It can also be illustrated from above report that ADLI is able to gain competitive positioning by using differentiate pricing strategies thus meeting needs and demand of customers in effective manner. At last it can be explained that tagline used by company also plays essential role in influencing people to purchase products of ALDI. 10
REFERENCES Books and Journals Armstrong, G. M. and et.al., 2018.Marketing: an introduction. Pearson UK. Bruhn,M.,Meffert,H.andHadwich,K.,2019.StrategischesDienstleistungsmarketing. InHandbuch Dienstleistungsmarketing(pp. 209-338). Springer Gabler, Wiesbaden. Cao, G., Duan, Y. and El Banna, A., 2019. A dynamic capability view of marketing analytics: Evidence from UK firms.Industrial Marketing Management,76. pp.72-83. Chang, Y., Wang, X. and Arnett, D. B., 2018. Enhancing firm performance: The role of brand orientation in business-to-business marketing.Industrial Marketing Management,72. pp.17-25. Cornwell, T. B. and Kwon, Y., 2019. Sponsorship-linked marketing: research surpluses and shortages.Journal of the Academy of Marketing Science, pp.1-23. Huang, J., 2016, February. Cloud servicesplatformbased on big data analyticsand its applicationinlivestockmanagementandmarketing.InThefourthInternational Conference on Information Science and Cloud Computing(Vol. 264, p. 063). SISSA Medialab. Hyder, S., 2016.The zen of social media marketing: An easier way to build credibility, generate buzz, and increase revenue. BenBella Books, Inc.. Luiz, M., 2016.Worldwide Casebook in Marketing Management. World Scientific. Palmer, M. and Truong, Y., 2019. Introduction to the special issue on the nature of industrial marketing work.Industrial Marketing Management,80. pp.228-232. Rindfleisch, A. and Malter, A .J. eds., 2019.Marketing in a digital world. Emerald Group Publishing. Slonaker, J., 2016.Wheel design optimization for locomotion in granular beds using resistive force theory(Doctoral dissertation, Massachusetts Institute of Technology). Soltani, Z. and Navimipour, N.J., 2016. Customer relationship management mechanisms: A systematic review of the state of the art literature and recommendations for future research.Computers in Human Behavior.61. pp.667-688. Tafesse, W. and Skallerud, K., 2017. A systematic review of the trade show marketing literature: 1980–2014.Industrial Marketing Management,63. pp.18-30. Wali, A .F., Uduma, I. A. and Wright, L. T., 2016. Customer relationship management (CRM) experiencesofBusiness-to-Business(B2B)marketingfirms:Aqualitative study.Cogent Business & Management,3(1). p.1183555. Wilson, R. M., 2017.Marketing Controllership. Routledge. 11