Strategic Marketing Plan for ALDI's New Product Launch

STRATEGIC MARKETING
PLAN
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Table of Contents.
INTRODUCTION...........................................................................................................................3
MAIN BODY................................................................................................................................3
Current business...........................................................................................................................3
Marketing objectives...................................................................................................................6
Market and competitor’s analysis................................................................................................6
Strategic marketing approach......................................................................................................8
4 Ps of marketing mix and NPD procedure.................................................................................9
RECOMMENDATIONS...............................................................................................................10
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
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INTRODUCTION
A strategic marketing plan refers to the procedure of formulating a business and
marketing strategy which outlines the objectives and goals of business and the methods through
those goals will be achieved (Fuertes and et.al., 2020). It explains the responsibilities of persons
and timelines to carry out a specific business plan. ALDI is a common brand of discount
supermarket chains run by two German brothers. It is retail company who have stores in more
than 20 countries. The products of company include supermarkets, convenience stores,
superstores and hyper markets.
The purpose of the paper is to develop a strategic marketing plan for product launch
ALDI's new product which is Refresher- A mix of Beetroot and watermelon juice in the market.
The scope of the plan is to analyse the current business conditions, marketing objectives,
competitors and marketing mix of the plan. However, the limitations of plan include limited
availability of information and data on the company chosen. In the report a business plan for
ALDI will be created which will provide various approaches and marketing mix of the
new product to be launched.
MAIN BODY
Current business
About chosen company-
ALDI is a leading supermarket chain in Australia which is privately held by two brothers
named Theo and Karl Albrecht. The company is considered as one of the top competitors in the
food industry. The company operates under limited assortment stores and hard discounters in its
grocery business. Through offering limited customer choices the company is able to save money
in various ways. ALDI hold the stock selection at its outlets to approximately 500 items only.
Most of these goods are packed grocery and dry goods. Most of the products of company are
sold under private labels ad some products are made exclusively for their chain. The company
works closely with manufactures to design its products which are cheaper to transport, sell and
stock. ALDI only stocks the national brands to highlight the discounts of its own products.
The company provides free shopping bags which are a huge attraction for its customers. The
company does not believe in maintaining the attractive locations for its stores instead it
purchases second rate locations for its outlets to reduce costs. Main focus of ALDI is customer
fists and high quality food.
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SWOT Analysis:
SWOT analysis is used to analyse the internal factors which have the potential to affect
business and performances (Elavarasan, and et.al., 2020). The SWOT analysis of ALDI is as
follows:
Strengths: Strengths are the factors or elements in which companies excel. These factors
can help the companies to build competitive advantages over its competitors in the market. The
strengths of ALDI are its discount stores. The consumers are attracted towards ALDI more than
other retail stores so, the company can provide huge discount variations for new product
Refresher which is a mix of Beetroot and watermelon juice. Consumers of ALDI are very loyal
towards company and provide huge support to the company. Company can use this strength to
offer new product to increase its customer base and customer loyalty.
Weaknesses: Weaknesses are the factors in which companies lack behind. These factors
hinder the growth of the company and results in low productivity (Wang-J and Wang- Z, 2020).
The weaknesses of ALDI includes low margins. Because the company provides huge discounts
on its products, the profit generations from those products becomes low. This can impact the
sales of its new product which is Refresher. Low profit margins means that consumers will
expect the new product i.e. Refresher Beetroot and watermelon mix juice on a low price. This
will increase the costs and reduce the products of new product offered. Also, the product offered
is usually for middle class an upper class which makes it penetration in high income groups low.
Opportunities: Opportunities refer to the external factors which the companies can use
from growth and survival in the industry. These factors help the companies to develop and
generate a wider customer base. As ALDI's Refresher Beetroot and watermelon mix juice
product will be positioned as an essential product and daily use products, the company is likely
to receive a positive impact of sales. This is a great opportunity for the company to grab and to
develop its business. It can offer huge discount to attract customers. The sale of new product on a
global platform is also an opportunity for the company to grow its markets on a global level. The
company has received good response UK market which means it can expand its business in the
UK market too.
Threats: Threats are the factors who have potential to harm the company and its businesses.
Threats if not managed properly can impact the businesses (Abdel-Basset,Mohamed and
Smarandache, 2018). Food industry have huge competition. There are many companies which
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