Marketing Strategy and its Applications

This assignment delves into the realm of marketing strategy, examining its fundamental principles and diverse applications across industries. It explores key concepts such as market segmentation, target audience identification, competitive analysis, and the development of effective marketing plans. The content draws upon academic literature and industry best practices to provide a comprehensive understanding of how organizations leverage marketing strategies to achieve their business objectives.

Marketing Essentials

Table of Contents
INTRODUCTION...........................................................................................................................1
P 1. Roles and responsibilities of marketing...............................................................................1
P2 How roles and responsibilities of marketing relate to the wider company context of ALDI 3
TASK 2............................................................................................................................................6
P3 ALDI applied marketing mix for planning process to achieve business goals.....................6
TASK 4............................................................................................................................................9
P4. Evaluating and producing a basic marketing plan for ALDI ...............................................9
CONCLUSION..............................................................................................................................12
REFERENCES .............................................................................................................................13

INTRODUCTION
Marketing can be simply defined as the procedure of building relations between a
company and consumers by performing commercial actions. It is needed to produce quality
based merchandise and services by a corporation so that better level of contentment can be
provided to the potential users. Such kind of business activities helps a lot in attaining higher
growing and development ; hence aids in acquiring large sum of financial gain to an enterprise.
Each of these approaching are involving actions like researches and analysation of activities
related to marketing, apprehension of particular targeted location, investigation on needs as well
as demands of civilians, creation of some specific strategies, etc. Such all things are contributing
in achieving setted aims and objectives in a easer way (Berkowitz, 2016). For a business
enterprise, it is essential to get familiar about values of their clients so that positive relationship
can be made. Thus from that longer term advantages and benefits can be attained in effectual
manner. This present project is designed on the basis of Aldi which is considered as one of the
largest chain of discounted hypermarket. It was established in 1913 by Theo Albrecht and Karl
Albrecht. Aldi is dealing with retail sector and are offering products like food items, beverages,
household accessories and serving to people internationally. It is having around 10000 stores in
around 20 nations. In this project, various aspects associated with marketing essentials is going
to be dealt.
P 1. Roles and responsibilities of marketing
This has been observed that marketing is playing crucial role in every venture to provide
suitable development as well as advantages effectively. Chief objectives of merchandising
function is to cater efficacious merchandises or services in order to target large number of users
as per their needs and demands. For this process, Aldi has to create important marketing schemes
to gain proper competitor benefits. There are several purposes of marketing and responsibility
regarding Aldi are listed as follows :
Intention of marketing -
 Marketing is a particular term which is needed in an enterprise for examining
requirements or request of marketplace and users easily.
 Via this activity, Aldi could easily focus on current market location and audiences who
are needing special commodities and services (Brassington and Pettitt, 2013).
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 Main objective of marketing department is to provide new goods an d services in a target
market and for target customers as well.
 Through this process an organisation can easily getting higher benefits and desirable
income as well.
Roles and responsibilities of marketing function
Marketing and advertisement - Marketing is a essential factors that helps to provide
appropriate ideas about new products and services in target market. Through this, Aldi can easily
introduce their new products and services in front of target customers. Marketing is a appropriate
tool that increase values of organisation and its products in market. In this process, Aldi uses
different advertising and promotional activities to provide effective information about their
products and services in target market. These kind of things helps to provides appropriate growth
and effectiveness to Aldi easily. It is includes different kin of promotional activities such as
internet marketing, social media promotion, paper and electronic marketing (Desai, 2013).
Competitor and customer research – For a business organisation, it is required to
understand values of their customers and competitor firms to make effective strategy for them.
Customers play a most important role in an organisation who buy its products and services
according to their own demand and need. They are like strength of organisation who help to
provide them desired growth and income easily. In same situation competitors also play a most
important role in market who serve same products and services in market according to customers
needs and demand. They can be threats for firm, if organisation not able to make effective
strategy to reduce their impacts in market.
Searching new customers and merchandising opportunity – For a business
organisation, it is require to search new customers and market to grabbing various opportunities
easily. Through these things they can easily improve values of firm in target market or in front of
customers. Searching new customer is not an easy task because for this organisation needs to
conduct a proper program to analyse customers demand and need toward the specific products
and services. These kind of opportunities helps to provide higher growth and income to a firm
easily. For a services organisation, it is important to analyse each and every factor related to
customers and their expectation (Dibb and Simkin, 2013).
Creating goods and services that represent value – After analyse customers demand
and need, it is important to build effective strategy to make quality products easily. Creating
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goods and services is a major factor that include quality of products and customers expectation.
Through this process, Aldi can easily build their own value in target market. In a market some
consumer are desired to get cost effective products and some are looking for quality goods. So
for Aldi, it is require to manage both term in effective manner to attract customers toward their
services easily (Hsu, 2011).
Creating innovation – Innovation is a effective tool that help to create values of new
products and services easily. Through this process, Aldi can easily adopt innovative ideas and
thoughts to make effective changes in their policy and procedure. In this process advance
technology also helping them to crate new and innovative products that helping to provide higher
satisfaction to customers easily. Aldi is a well known organisation which is always serve quality
and innovative product according to their demand or need. This is also a part of marketing in
which organisation adopt services provider tool and techniques according to customers demand.
Delivering customers services standardised communication with buyers – For Aldi, it
is require to deliver quality services to their customers according to their need and demand. For
this employees need communicate with them in proper manner to provide them proper ideas
about their products and services and get to know about their thoughts and demand toward
organisational services. Through this process they can easily make strong and long term relation
with them to getting higher competitive advantages. For this process, organisation conduct
effective training to develop employee's interpersonal skill and working capacity to achieve
organisational goals and objectives (Jones and Rowley, 2011).
Setting pricing, margins and profit level – This is a important task of an organisation in
which they set prices, cost, margin and profit level for their products. In this process, marketing
department of firm play a a most important role to provides appropriate ideas and research
objectives of market toward competitor cost and prices. For this, Aldi needs to use cost effective
methods to attract customers easily. This is a effective promotional tool that help to capture
customers eyes toward organisational goods. All these methods are very effective to build trust
in customers minds easily and help to provide effective growth and desired income to
organisation easily (Lamb, Hair and McDaniel, 2011).
P2 How roles and responsibilities of marketing relate to the wider company context of ALDI
Aldi is well known organisation which provides services in several countries. So for
them, it is require to manage business activities properly through the help of various employees
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who are working in different departments. All these division of firm provide their effective
services to customers, according to their needs and demand. For a large scale organisation, it is
require to manage their business activities in effective manner to getting higher business
advantages easily. This organisation is basically work on their future objectives and goals to
achieve them in effective manner. In this process lots of department provide their effective
services in firm such as -
Research and development department – This department of firm is work to analyse
each and every factors related to marketing elements. Research division of firm makes a
effective strategy to get appropriate analysis about market need and demand. These kind of
things are very useful for organisation to produce quality products and services according to their
necessary. Research and development department of firm analyse marketing trend and new
fashion that can affect their business approaches easily. These kind of marketing research helps
to reduce extra wastages and manufacturing cost buy the uses of appropriate strategy and
methods (Lane, 2016).
Production and operation department - This is the next department of firm who help
to produce quality products and services according to customers and marketing research. This
organisation help to implement business activities in a effective manner to getting higher
business growth easily. These department is working on the bases of research department and its
strategy to produce quality products according to its research. This organisation uses different
kind of working approaches as just in time, six sigma, lean manufacturing to build values of their
products. Through this they easily reduce extra costa and wastage from their production services
as well.
Human resource department – This department of firm play a most important role to
implement effective business approaches in firm to achieve business objectives easily. Main
objective of this department is to hire skilled and talented employees in organisation who help to
achieve organisational goals and objective in effective manner. For this they conducts training
and development program to enhance working capacity and interpersonal skill s of employees
easily (Mihart, 2012). For taking new ideas they also conduct recruitment and selection process
to hire fresh employees in firm easily. This is one most important department of firm which is
working for each and every division of organisation to hire skill candidate according to
department needs and organisation's demand.
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Finance department – This is a most important department of firm who help to manage
all accounts and finance related to terms of organisation in effective manner. For this department,
organisation needs to hire skill and professional candidate who easily manage organisational
financial tool in effective manner. Through this, Aldi can easily manage profit and loss account,
balance sheet, management of income and expenditure, cash flow, fund flow,and provide ideas
about various investment which help to maximise organisational income in effective manner.
This is a private division of firm who manage records of all income and expenses related
transactions.
Technology department – This department of Aldi helps to provide effective and
creative services to use technological things ion organisation easily. Advance technology needs
to be adopt to getting effective competitive advantages easily (Nguyen and Simkin, 2012). These
kind of things help to provide higher profitability to organisation through new and effective
ideas. Technology department help to adopt new technique to provide creative and effective
services in target market. Through this Aldi easily achieve their target objectives and goals in
appropriate manner. These kind of things also help to improve productivity of employees and
aid to reduce extra wastages in appropriate manner as well..
Marketing Department – This department of Aldi, help to provide information of
organisational products and services in target market. This department help to build strong
relation with target customers to getting long term income and growth easily. One most
important objective of marketing department is to manage their business activities effectively ibn
target market. For introduce new product n market, organisation uses different kind of tools and
techniques such advertising through internet, social media, paper marketing and uses cost
effective methods that directly impacting on customers mind positively. Through this
organisation can easily achieve their target objective and goals by the help of their customers
loyalty and their trust toward organisational products. Somehow, firm needs to use quality
products to build long tern relation with direct customers (Papasolomou and Melanthiou, 2012).
Quality of product and services – This is a one most important element of firm in which
organisation needs to concern about their products quality and to provide effective services to
customers easily. These services should have to be related to customers demand, needs and
necessary to provide them higher satisfaction easily. These things should have to be related to
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quality management strategy of firm. These things should have to be related to Customers
services that should have to be fulfil in effective manner.
TASK 2
P3 ALDI applied marketing mix for planning process to achieve business goals
For each and every firm, it is essential to utilise market mix in order to having effective
and higher profits in easy manner. These things involves different several strategies and practice
planning fir making effective and suitable position of the firm in market locations (Perreault,
2010). firm determine this sort of approaches in order to produce quality goods and services for
their customers. These types of things always facilitates higher satisfaction to buyers along with
market. In accordance to this procedure, Aldi can be be able to modify best and effective
promotional practices for that they can generate information in context of new innovative
product and services as well (Perreault, 2010). For it, enterprise required to frame a effective
research and analysis on the concentrated market place to get information in regards of market
and buyers demands as well as wishes. With the help of it, firm can be able to understand effects
of external element on the decision making and internal process. Aldi is an discounted
supermarket chain that facilitates their services across the globe. Hence fir the same, firm
required to evaluate the marketing mix in order to gather effective information in easy manner.
With the help of sited process they can concentrate on their marketing strategies for an
organisation. Marketing mix of Aldi is reflecting with its competitors company IKEA-
Marketing
Mix
ALDI IKEA
Products ALDI is a bigger and larger
discounted supermarket chain that
facilatates different product and
services at across the globe. This
firm is mainly deals in Articles,
Luxuries eatables item, Beverage
and house holds along with sanitary
goods internationality. It is basically
IKEA is offering a large range of
furniture,such as outdoor furniture, baby and
children's products, products, eating,
bathroom stage, desks, mirrors, beds and
mattresses, chairs, cooking, clothes storage,
decoration, leisure and safety products. It
also assist kitchen cabinets and appliances,
lighting, small storage, sofas and armchairs,
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facilitates range of varieties in
consumable item as fruits, vegetable
and home base goods at very
reasonable cost as well as pocket
friendly prices. With the help of it,
firm can develop effective relation
with their buyers through providing
best quality product who are capable
to satisfied consumer's needs in
appropriate manner.
storage furniture, Swedish food, tables
textiles and rugs, etc . (wenson, 2014).
Price ALDI offers low cost that makes it
customer stable with its in -house
products which are not available to
its rivals. It maintains its policies that
helps to pull customers. Such us, unit
pricing for groceries that is easily
compared with other brands. It put
low price for new items so that it
enter to market and share profit. It
offers minimal price from
competitors.
As price is one foremost strategy of
marketing mix that drag customer to shop.
IKEA follows reasonable price of product. It
has innovative manufacturing that cut
product price which is also beneficial for
customers. Consumer can choose to
assemble, transport product that reduces
prices. It uses mantissa pricing, fixing that
gives a satisfaction to customer for
affordable cost. It also offer B&Q costing
which allows customers to pay with EMIs
and discounts also attract customers.
Place AlDI first launched in Germany and
now it has more than 8000 stores
across 18 counties and if counted
roughly it is opening new stores in
Britain every week. It keeps very
simple layouts of its stores to hold
low cost. It purchases all the
products from several suppliers and
IKEA have around 330stores in 38
countries. IKEA give exclusive rights to the
franchise where rights have not given. It
selects franchise on certain basis like
experience, local market knowledge and
presence, values, culture, financial strength
and ability for investment. It also has
website to let customer search their desired
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it store them at local warehouse. It
also ensures quality of its products. It
has online presence to reach people
shortly.
products.
Promotion ALDI adopted a cost saving
promotion strategy. Though it saves
money and invest negligible amount
on promotion. It offers some “Super
Buys” with limited stocks, it is
conducted every week. It informs to
its customers via newsletter or email,
and in stores also distributes “ALDI
informs” that make it a huge profit. It
also has other strategies like 'Swap
and save' which aid to switch
customers from other brands. It
allures customers (Wirtz, 2012).
It's major tool is free catalogue which it is
providing to customers. This catalogue has
lists of its products including colour, size,
price, pattern. It also aiming to maintain
relationship with society. It work with
UNICEF for children welfare to give them a
better life. It also promotes responsibility
towards environment with B&Q with
environment protection while product
design, packaging,materials. It also offers
discount in price with certain conditions.
People ALDI's employees do not assist
customer selection that why it has
lower customer. Because it has
properly designed segments for
every sections so there is no need of
workers. Instead of keep labours on
floor it has billing employees to
generate bills faster, that results in
growing sales. It pays more wages to
staff than its rivals.
IKEA is a furniture brand though it assists to
restaurants, hotels, individuals. It offers
them a wide range of designed furniture
which attracts to build adorn their place with
optimum price. It also trained their staff to
get more targeted customer effectively
through communication, that builds
relationship.
Marketing mix is term whose core objective is to provide support to entire firm in order
to leading them towards corrective path by showing some lights on suitable elements. Hence it
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determines different techniques of motivating sales through satisfying the demands and needs to
various kinds of customers.
Effective marketing mix helps in knowing the concentrated market which shows what
their market needs along with their customers. With the help of marketing mix ALDI is able to
frame their costing or price for certain product which needs to be more eye capturing hence
analysis of marketing mix helps in getting all relevant data or information for their existing and
potential buyers as well as determine market location.
TASK 4
P4. Evaluating and producing a basic marketing plan for ALDI
An effective and sufficient plan is essential for the success of a firm because it will cover
all of important elements that plays a signifying role in the success. It is true that a marketing
plan is a blueprint of determine strategies that will be followed by the manager of the firm along
with their staff members (Papasolomou and Melanthiou, 2012).
Marketing plan is an organisational practices that provide help to create effective and
sufficient strategies to capture desired objective in easy way. With the help of this procedure,
firm will be able to design various plan for the analysis of market needs and demand along with
buyer's needs too. This plan aid in facilitating appropriate direction to the firm through utilising
different sort of activities such as-
Executive summary- marketing plan of ALDI covers all the important elements which is
needed for the staff members to followed while achievement of objective and goals of marketing.
Therefore, different factor that are falls under this division are; firm's overview, situational
analysis with the help of external and internal, sufficient budget for collecting proper fund that is
required during implementing and control over wastage.
Overview of the firm- the firm named as ALDI that is multinational discounted
supermarket chain. The sited company was founded in the year of 1913 through the contribution
Karl Albrecht and Theo Albrecht. This organisation is facilitates their effective services in
around 20 nations with approx. 10000 stores chains. This organisation provide their efficient
services as Articles, Beverage, Food and House Hold product in across the globe. This firm has
headquarter which is located in Essen Germany.
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Vision and mission of ALDI company- this firm was launched with a certain and specific
vision in order to facilitating quality and effective services to their buyers at some of particular
price. Their core mission is to creating ethical, social values and legal worth for company in easy
manner.
Situational analysis- in order to designing efficient strategy, firm required to evaluate
each and every market factors to create effective plan in easy way. For this procedure, firm can
use internal and external analysis along with ansoff matrix that provide help the marketing
planner in effective manner. Below is detailed analysis of internal and external-
Internal Analysis: First step to determine the inner element that can make effects the
success and growth of the company such as shareholder, customers, and financial structure. It is
very essential for all the firm to find all the internal essential elements as they are asset fir the
company all the operational practices can be managed and controlled with the help of them
(Mihart, 2012).
External analysis- this element is playing very important role in the firm of ALDI. As, all
firm big or small has following some rules and regulation that is designed by the government of
nation if any firm are not following them then legal power can capable to stop all the operational
practices on the organisation.
Ansoff Matrix of ALDI -
 Market penetration – This strategy is generally utilised for facilitating sufficient and
effective plan when company wishes to create values for their existing and new
developed product and services in determine market location.
 Market development – This strategy is mainly suitable and efficient for those firms who
wished to launched their new and innovative product and services in company's existing
market in order to create its worth in easy way.
 Product development – this strategy is majorly useful for those firm who wished to
launched new and innovative product in current market in order to create its worth in
easy manner.
 Diversification strategy – this strategy is generally profitable for those companies who
demands to introduce new goods in the new and different market in order to bring its
value at best level.
Allocation of resources-
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In a business firm marketing and bushiness practices are done with the collaboration of
major three divisions such as-
 Financial resources – this thing are generally related to the financial and accounting
resources of firm that aid to facilitates effective services in order to capture various
chances in easy manner. These all things required to be opted and imposed in
effective manner.
 Technological resources – this sort of things are mainly helps to facilitating
innovative thoughts and idea and more advanced technologies in term to enhance the
performance capability and productivity of workers. With the help of this procedure,
ALDI can attain higher age and growth in their business practices (Desai, 2013).
 Human resource – this is one of the very signifying division of the firm that provide
help in order to monitoring and evaluation of the business practices in effective and
efficient manner in them. Hence for the same, Human Resource manager of the firm
utilise training and learning procedure in order to boost up their their worker's skills
and performance approach in easy way.
Budget- For ALDI, it is very signifying to arrange their financial and accounting terms
efficiently in order to having effective and higher profit in easy way. These things involves
capital, income, investment and expenses of the firm such as
Marketing budget
Particulars 1st year 2nd year 3rd year 4th year 5th year
Capital 100000 2000 4200 3800 3000
Investments 18000 18000 17500 17000
Total 100000 20000 22200 21300 20000
Marketing expenses
Sales 5500 5000 4500 5000 4500
Marketing 6000 7000 3500 4500 3000
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Promotion 6000 2500 2700 3200 3500
Printing 3500 4500 2400 1800 2500
Advertising 4500 2000 2500 3000 9000
Internet Marketing 1500 1800 4500 4200 800
Networking 5000 5500 3500 2600 3200
Total 32000 28300 23600 24300 26500
CONCLUSION
Form the above report is has been concluded that marketing practices are most signifying
thing for a business that provide help to create effective relation in their target market with
buyers. With the help of this procedure firm can be able to analyse their goods worth in order to
make effective opportunities in then. This project is based on ALDI that is a discounted
supermarket chain and provide their services and product.
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REFERENCES
Books and Journals
Berkowitz, E.N., 2016. Essentials of health care marketing. Jones & Bartlett Publishers.
Brassington, F. and Pettitt, S., 2013. Essential of marketing.
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in UAE. IUP Journal of Management Research. 12(1). p.22.
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Hsu, W., 2011. The vocabulary thresholds of business textbooks and business research articles
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Jones, R. and Rowley, J., 2011. Entrepreneurial marketing in small businesses: A conceptual
exploration. International Small Business Journal. 29(1). pp.25-36.
Lamb, C.W., Hair, J.F. and McDaniel, C., 2011. Essentials of marketing. Cengage Learning.
Lane, P., 2016. Human resources marketing and recruiting: essentials of employer branding.
Handbook of Human Resources Management, pp.23-52.
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on consumer decision–making process. International Journal of Marketing Studies. 4(2)
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Nguyen, B. and Simkin, L., 2012. Fairness quality: the role of fairness in a social and ethically
oriented marketing landscape. The Marketing Review. 12(4) . pp.333-344.
Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
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Perreault, W.D., 2010. Essentials of marketing: A marketing strategy planning approach.
Pike, S., 2015. Destination Marketing: Essentials. Routledge.
Swenson, M.J. And et. al., 2014. Startup marketing: Leveraging leverage. The Journal of Applied
Business and Economics. 16(6). p.56.
Wirtz, J., 2012. Essentials of services marketing. FT Press.
Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best
friend. Journal of Promotion Management. 18(3). pp.319-328.
Mihart, C., 2012. Impact of integrated marketing communication on consumer behaviour: effects
on consumer decision–making process. International Journal of Marketing Studies.
4(2). p.121.
Desai, S.S., 2013. An analysis of the competitive marketing strategies of the hospitality industry
in UAE. IUP Journal of Management Research. 12(1). p.22.
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