Roles and Responsibilities of the Marketing Function - ALDI
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Added on 2020-07-22
Roles and Responsibilities of the Marketing Function - ALDI
Added on 2020-07-22
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Marketing Essentials
Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1. Roles and responsibilities of the marketing function of ALDI........................................3TASK 2............................................................................................................................................5P2. Roles and responsibilities of marketing related to wider organisational context.............5TASK 3............................................................................................................................................9P3. Comparing the ways in which ALDI applies marketing mix to the marketing planningprocess to achieve business objectives...................................................................................9TASK 4..........................................................................................................................................13P4. Produce and evaluate a basic marketing plan for an organisation.................................13CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................17
INTRODUCTIONMarketing is the process that helps the producer to determine needs, wants and desires ofthe customers and converting them into goods and services as per their requirements to generatehigher profits along with attaining customer’s satisfaction. It is a continuous process that puts itscustomers into main focus with the ultimate aim to capture their attention by using marketingmix- product, place, price and promotion for creating, exchanging plus satisfying the objectivesof consumers as well as of the company. This project is based on analysing marketing essentialsof ALDI, which is one of the world's largest privately owned chain of grocery supermarket withits base in Germany. It has approximately 8000 discounted stores worldwide in around 15countries. This report focuses on roles and responsibilities of ALDI's marketing function whichcontributes in its growth and development along with company's basic marketing plan. Acomparative study of ALDI with one of its biggest competing retail stores Lidl will revealuniqueness of ALDI in applying its marketing mix in relation to its market competitors.TASK 1P1. Roles and responsibilities of the marketing function of ALDIMarketing is the fundamental function of a company that helps a manager in analysing anddetermining its relation the environment in which it operates including its customers andcompetitors (Dibb and Simkin, 2013). The motive of any firm is to capture the attention of itstarget audience by providing goods and services that satisfy their needs and with it to gain higherprofits. To accomplish this objective it becomes critical for a firm to carefully imply itsmarketing functions to focus on it customers requirement and then moulding its products andservices accordingly so as to make them available with their desired goods and services. Thesefunctions are marketing functions are product/service management, pricing ,marketing-information management, distribution, promotion, and selling. In order to achieve its objective ofselling its products and services by convincing the buyers to purchase their products and to boostup customers sales ensuring right product at right time available at right place through a bestsuitable sales promotion staretgy it is essential for business to maintain coordination among thesefunctions monitoring that they compliment and assist each other without facing any problem.
Aldi being one of the market leader in supermarket lays special focus in balancing its marketfunctions(Lamb, Haia and McDaniel, 2011). By efficiently coordinating its marketing functionsthis retailing firm provides a wide range of quality products at reasonable prices to its customers.All the activities and strategies of marketing revolves around the product they are offering to itsclientele. Mentioned below are different kinds of marketing functions that ALDI needs to perform :-Marketing information management : To make decision related to current and futuremarket strategies business requires information related to ongoing market treads, customers tasteand preferences ,competitors strategies etc. Marketing information involves collecting ,analysing and disseminating information in order take market related decisions. ALDI considerthis function as prominent as it helps the firm to gain knowledge about the demands andpreferences of its buyers on the basis on which Aldi formulates its marketing strategies. Thisinformation becomes extremely beneficial for a company leading to gaining higher profits asthey can produce goods and services according to the preferred quality and quantity reflected ininformation analysis (Mettler and Guiberteau, 2011). This functions can be extremely useful forAldi at time of festivals as firm through marketing information management can introduce newproducts as per customers specifications. Product and service management:- This function is of great significance as it includesevolving , maintaining and refining a product and service according to the availablemarket opportunities. It execute and controls the entire product life cycle processincluding generating new product development ideas, upgrading or enhancing theexisting product or withdrawing product from market. Aldi give special attention in thisfunction . For which it conducts various market surveys to ascertain consumers neds andpreferences , to know its upcoming competitors and to have an idea about new entrantsin the market . Pricing :- This function is associated with maintain a price level that is not too high forcustomers to be enable to afford it and also not too low for a company to not earnsignificant profit. It is a critical decision to be made by a firm as it directly effects thesales and production of a company. Aldi whose motive is to provide large quality ofgoods and services as reasonable price to its customers weights pricing decision functionvery high in its marketing strategy (Chiego, 2018). It make sure to set it price at a such
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