Marketing Strategy of Lidl
Added on 2020-07-23
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INTRODUCTION TOMARKETING
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Market research on the current UK Grocery Retail Market........................................................1TASK 2............................................................................................................................................7Research on the UK population to determine which segments will provide higher yield ofconsumers....................................................................................................................................7TASK 3..........................................................................................................................................10Marketing Strategies.................................................................................................................10CONCLUSION..............................................................................................................................13REFERENCES .............................................................................................................................14
INTRODUCTIONMarketing is an appropriate element that used to build effective relationship betweenorganisation and customers as well. By this, a firm can easily achieve their target objectives andgoals as well. Through this, company can get appropriate growths and income easily. This is alsoknown as management process in which products and services helps to build appropriatecustomer's relations. This activity also include buying and selling procedure by product as wellservices. For this, firm uses several promotional activities to introduce new goods in front oftarget audience as well as in market. Main objective of marketing is to grab consumer's attentiontoward several services easily. This is helps to acquire consumers and maintain appropriaterelation for attending long term benefits easily (Armstrong and et. al., 2011). This project reportis based on Lidl which is a German retailer store. This organisation was founded in the year of1930 by Dieter Schwarz. This firm is a global discount supermarket chain which provide variousproducts and services across Europe and USA with just about 10,000 stores. Main objectives oftheir organisation is to provide quality products to consumers on effective and attractive priceseasily. This report is discussing about proper market research that helps to brief overview ofoverall retail grocery market to identify its growth and several marketing opportunities. Itincludes SWOT, PESTEL analysis, competitors matrix, Boston consulting matrix and Ansoffmatrix as well. It represent different segments as Socio-demographic, Psycho-graphic andBehavioural as well. At last it determine market plan development and several marketingstrategies as Brand Image, Pricing Objective Strategy, Retailing and distribution objectives andProduct description and also integrated with 7 Ps Marketing Mix.TASK 1Market research on the current UK Grocery Retail MarketMarketing is an essential factors that helps to build transparent relation betweenorganisation and customers by purchasing and selling of several products and services. For thisprocess, a firm needs to build a effective strategy to getting higher business advantages easily.Lidl is an discount super market and for them it is require to create strong strategy to gettinghigher competitive advantages easily (Atwal and Williams, 2017). This organisation face strongcompetition from various retailer store such as Tesco, Aldi and Sainsbury as well. For this they1
need to use strong strategy to getting higher growth easily. Through this, company can easilybuild strong relation with their customers to getting long term benefits easily.Researched argument: According to Edward Appleton marketing industry landscape its structure in world wide.Various organisation uses these kind of strategy to promote their organisational activities andproducts in front of target audience easily (Babin and Zikmund, 2015). One most importantstrategy that a firm can use is cost reduction process that easily helps to capture customers eyestoward organisational services. For this organisation needs to use effective research on market toanalyse customers and market demand to provide them quality products and services easily.These kind of factors aid to deliver appropriate satisfaction to customers according to theirrequirement ad need as well. Through this firm also provide their own contribution in economygrowth and development.As per the words of John F. Sherry, marketing has appropriate impact on several businessactivities. Through this a firm can easily attain higher growth and incomes easily. Main objectiveof marketing is to introduce new products and services in target market or in front of audience.For this firm needs to use appropriate strategy that helps to build values for organisation incompetitor market. After using several activities, Lidl can easily climb up in market or buildstrong customers loyalty to getting higher business growth. For this firm needs to use innovativeideas and advance technology in their operational activities to getting higher business advantageseasily.SWOT Analysis of LidlLidl is a well known organisation in UK that provide their products and services oneffective cost. This is a global discount supermarket chain that represent its services in severalcountries (Bhattacharya, 2010). This organisation has various strength and weaknesses that helpsto make them strong strategy to grab several opportunities easily. As per some issues,organisation faces various threats from competitors organisation, so for them Lidl needs to buildstrong strategy to reduce its negative impact easily. These kind of activities helps to analyseorganisation's internal factor to grab various opportunities easily. There are SWOT analysis ofLidl are represent below as - StrengthWeaknessLidl is a well known global discountLidl is global discount supermarket chain2
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