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Research Study on Marketing Principles Assignment

   

Added on  2019-12-04

17 Pages5240 Words167 Views
MARKETING PRINCIPLES

TABLE OF CONTENTSIntroduction .....................................................................................................................................4Task 1 ..............................................................................................................................................41.1 Elements of marketing process.............................................................................................41.2 Benefits and costs of marketing orientation..........................................................................6Task 2...............................................................................................................................................62.1 Influence of macro and micro environment factors .............................................................62.2 Segmentation criteria............................................................................................................72.4 Impact of buyer behaviour on marketing activities...............................................................82.5 Positioning strategy ............................................................................................................10Task 3.............................................................................................................................................113.1 Development of products for sustaining competitive advantage........................................113.2 Distribution strategy ...........................................................................................................113.3 Pricing strategy....................................................................................................................123.4 Integration of promotional activities with marketing objectives........................................123.5 Additional elements of marketing mix................................................................................13Task 4.............................................................................................................................................144.1 Marketing mix for two different segments..........................................................................144.2 Difference between B2B and B2C .....................................................................................144.3 Difference between international and domestic marketing.................................................15Conclusion.....................................................................................................................................16REFERENCES..............................................................................................................................17

INTRODUCTIONMarketing is the fundamental social process which is evolved within a society for thepurpose of meeting needs and demands of consumers (Armstrong and et.al., 2014). Apparently,behind every great company, there is an exceptional marketing strategy that manages all thefundamental aspects of marketing. The present research study has been made on Aldi which is aleading global discount supermarket chain. The business operates in European market witharound 10,000 stores in more than 18 countries. It comes under the category of world’s largestprivately owned companies with the market share of around €53 billion. Thus, in this contextresearcher has stated all the elements of marketing process.Along with this description, information is also included regarding environmental factorsthat affects marketing and business decisions of Aldi. Furthermore, in the study researcher hasmentioned impact of buyer behaviour on marketing decisions of Aldi. All the elements ofmarketing have been used in prominent manner in the current study. Difference betweeninternational and domestic marketing has been stated in the subsequent study. Aldi has beenfocused towards customer orientation approach in which the business entity emphasizes ondelivering prominent services to the customers; hence in this respect several marketing andpromotional strategies are discussed. TASK 1 1.1 Elements of marketing processAldi has been emphasizing on marketing process for the purpose of promoting theproduct at market place and also assists the business entity to aware people about the availabilityof products (Foxman and Dobscha, 2015). In the below section, the main elements of marketingprocess are discussed:

Figure 1: Elements of marketing processAt the initial stage, Aldi has to identify the needs and demands of customers. Thisidentification assists the business entity to bring appropriate products at the market place(Domegan and et.al., 2013). Secondly, the entity conducts market research in which the current situation of market isascertained. This is also significant for the purpose of knowing the competitors and theirstrategies (Janssen and et.al., 2013). Through this, internal and external businessenvironment of Aldi can be identified. Afterwards, the situation analysis, Aldi develops marketing strategies and procedures forpromoting and positioning the products effectively in the market. This is also useful forgrabbing attention of customers. All the elements of marketing mix are required to be included in the business practices sothat prominent and requisite products can be developed (Converse, 2013). It is also essential for the business entity to conduct direct monitoring and controlling sothat loopholes can be ascertained. Moreover, new things can also be added in marketingstrategies of Aldi in respect of facilitating improvements.

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