Marketing Essentials Report

This report delves into the marketing essentials for Aldi, outlining the roles and responsibilities of marketing functions, the marketing mix, and the development of a basic marketing plan. It emphasizes the importance of strategic marketing in achieving business objectives and maximizing profit in the competitive retail sector. The report includes a comprehensive analysis of Aldi's marketing strategies, including product development, pricing, promotion, and distribution, and concludes with recommendations for enhancing marketing effectiveness.

MARKETING
ESSENTIALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Role of marketing function..............................................................................................1
P 2 Roles and responsibilities of marketing relate to the wider context................................4
TASK 2............................................................................................................................................6
P 3 Marketing mix to the marketing planning process to achieve business objectives.........6
TASK 3 ...........................................................................................................................................8
P 4 Production and evaluation of a basic marketing plan for Aldi.......................................8
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
.......................................................................................................................................................14

INTRODUCTION
Marketing essentials is the concept which consist various types of functions and methods
of marketing. It defines theories and practices of marketing which are helpful for every
organization. It is able to create awareness among people related to goods and services of firm.
Marketing managers and other staff members are responsible identify current needs or demands
to customers and try to products accordingly. The reason this concept is demand of people is
changes time to time (Ferrell and Hartline, 2012). The present report is based on Aldi which is
international supermarket and providing varieties of goods and services to their targeted
audiences. Cited firm is deal in food beverages and other household products which having large
demand in international market. There are different type marketing functions which having
impact on its existence. Marketing mix such as product, price, place etc. is helpful for firms in
order to enhance its market presence. Staff members are responsible to produce marketing plan
which is helpful to attain their set of target and objective as well. They have to frame proper
plans and strategies in order to achieve their goals. They have to comply with rules and
regulation as well in order to maintain their performance in international market.
TASK 1
P1. Role of marketing function.
Marketing function is a concept in which define various methods to promote their goods
and services in international market. In this organizations are responsible to enhance brand name
in order to attain their target (Rascati, 2013). Through this they are directly contribute in growth
and development of country. In this process employees play an important role. There are several
marketing function which are needs to be opted by staff members of Aldi in order to achieve
their target. These function are as aligned below-
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Selling- It is the process through which goods and services are able to delivered to their
targeted audiences. It is exchange process Aldi delivered their goods and services to customers in
against receive money is known as profit margin (Swenson, Rhoads and Whitlark, 2014). It is
important marketing function in order to capture best return and manage their performance in
international market. Leaders and managers are responsible to recruit best person as sales person
who is successfully sales products to people through effectively convince them to purchase the
same. They have to focus of sales skills which is beneficial for them. The person needs to be in
depth knowledge of selling in various places.
Pricing- The prices of products has been decided by company on the basis of its cost of
production and percentage of profit margin. Aldi is the international food retailing company
which is providing best quality of goods and services to its customer. Staff members have to
decide prices which are easily affordable by all group of people. It is the most and important part
of marketing function. Cited firm have to recruit best accounts department which is able to
manage prices and quality of products. Cheap prices with best quality of goods are usually attract
large number of customers (Hsu, 2011). On the basis this concept company is able to analysed
their monthly budget. Price has been decided by adding profit margin into cost of different
functions.
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Illustration 1: Marketing Functions, 2017
Source 1: Marketing Function, 2017

Financing- Financial providers of Aldi provide required level of finance to them as per
their requirement. Company require finance at the time of purchase raw material from seller for
purpose of products of goods (Ryan, 2016). It is called as investment against which entity is able
to receive better return. For the stated purpose they needs to frame plans and strategies which are
helpful to them in order to attain long term as well as short term goals.
Distribution- Organization have to distribute goods and services in multiple dimensions.
It is difficult to decide for cited firm in which area they going to distribute their products. It is
considered as biggest challenges for them to select distribution place. Also members of Aldi
have to choose multiple methods to the same purpose. Through this process they can easily attain
their target and maintain performance as well. Firstly, they have to analyse current market
demand of customers and provide things accordingly. They have to quickly monitor their
performance and maintain their performance as all. This factor is having impact on its existence.
Aldi is an international retailing firm which provide varieties of food beverages to their targeted
audiences. So that, they have to choose area in which large number of young people are living.
They are usually, attracted with their products.
Promotion- It is the systematic procedure to introduce their products across the national
border. It is important part of marketing function. Through this process they can generate brand
image among customers and try to increase sale as well. It create brand loyalty among people
and useful in direct marketing process. Staff members of Aldi needs to select advance
technologies in order to promote products. This process is helpful to present information to
customers as well as other people (Kennedy and Parsons, 2014). Traditional media and digital
media are better source of promotion. Social media marketing with the help of internet, online
promotion are the part of digital media marketing. News paper, magazines are part of digital
media but this process is able to reach to limited number of people. Through this only few get
aware with the same. On the other hand, large number of people are connected with social media
so that, they easily get aware about goods and services of cited firm.
Marketing information management (MIS)- This concept is able to support in decision
making process of marketing. Through which marketing data or information has been collected.
The biggest advantage of this term is able to handle both internal and external data. It can able to
prevent company from creating conflict or problem at the work place. It is operated by staff
members on continuous basis. It is considered as future oriented process which is useful to
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companies to attain their target and goals as well. It involve system other marketing research.
Because marketing research is different concept then this. No confusion has been create among
members through this process.
Product- Aldi is UK based retailing company which produce food beverages and
delivered the same in international market. They have to provide products which are able to fulfil
needs of customers and try to attract them as well. Provide best quality with cheap rate is usually
attract large number of people. They operate various functions to produce bets quality and
maintain better performance.
Both business functions and marketing are inter related with each other. Various types of
function are having on its existence. They follow concept of business to customer and business to
business (Ogunmokun and Tang, 2012). External environment is also having impact on its
existence which influence their work quality. Changes in tax policies, modifications in rules and
regulation are effect current activities of Aldi. They have to comply with rules and actively
contribute in growth and development marketing concept. Further, marketing is the broad
concept then others in order to introduce their goods and services in across the national border. It
having several department which are able to work independently without influence of others.
P 2 Roles and responsibilities of marketing relate to the wider context
As Aldi is a leading firm, different aspects of marketing affect business in term of
production, revenue and profit margin in retail market (Dibb and Simkin, 2013). Followings are
some roles and responsibilities of marketing which play a vital role in improving existing
performance of company.
1. Strategy making-Marketing of Aldi has huge impact on strategy to capture maximum
share in retail industry. As manger of marketing department sets effective strategy related
to pricing policy, advertisement and manufacturing of product or services of firm. For
example, marketing of brand helps in establishing image in sight of customers. It may
make a pricing strategy to offer reasonable rate to target market in comparison to other
competitors and gain competitive advantage in long term. So marketing of goods can help
in achieving organisational objectives.
2. Market research-This is an important aspect of marketing which provides more accurate
data related to latest trend among consumers and their choice so that company can
provide a customised goods to them and get maximum customer satisfaction in future
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(Lamb, Hair and McDaniel, 2011). There are two types of market research like
qualitative and quantitative. Qualitative research includes language and words or signs to
collect information about preferences of customers. For example, questionnaire in which
a pre decided questions are asked to people and a report is made on basis of their
response. On other hand, personal interview can be conducted in market research in
which individual interaction is done to collect detailed information related to form
progress.
3. Product development-It is one of major techniques of marketing which plays a vital role
in achieving organisational objectives and targets of profit maximisation and capture a
lion market share in retail sector of United Kingdom. There are many strategies of
product development like product differentiation in which company modifies some
features of its goods and attract more customers in future. Another method of product
development is market expansion in which firm horizontally or vertically extends it
business and create new value to its current product (Lancaster and Massingham, 2010).
So marketing boosts progress of organisation in term of better goods available to
customers.
4. Communication- Different campaigns which are conducted by Aldi to interact its
customers and receive their response about any improvement in product and services. For
example, the mentioned firm is conducting some national and international conference in
which is can directly have conversation to people and get positive as well as negative
views about its existing performance (Foxall, 2014). So it an important duty which
marketing manager has to execute to contribute in target achievement as major market
share and revenue to gain top position in retail industry of United Kingdom. It is an
inseparable part of company to covey message to each other and smooth functioning of
process.
5. Sales support-Another role of marketing for business organisation is that it helps in
increasing sales of goods of Aldi in log term and consequently gain maximum profit
margin in future in comparison to other competitor. The form can use some effective
advertisement methods like social media and mail promotion. For example, company is
spreading its message to customers through promotion so that more new clients can be
connected to its brand.
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6. Growth of firm-Marketing has another role and responsibility to help company to grow
with rapid rate in retail market of United Kingdom. There are some objectives which are
set in marketing help in achieving goals of profit maximisation (Smith, Drumwright and
Gentile, 2010). For example, Aldi has attainable targets for a specific time which
contribute in company growth. If marketing of product is done in a right way through
substantial growth strategy, it will gain dominating position in retail field.
7. Profit maximisation -This is an ultimate goal for every business organisation like Aldi
to acquire a well established. Marketing of product or goods leads to improved sales in
market which consequently helps in maximum profit. For example, if Aldi adopts and
implements an efficient marketing strategy to introduce a new packed food item to attract
new customers it will lead to better position in retail industry and customer satisfaction.
8. Brand image-Today most of customer pay for image of brand instead of features. For
example, if Aldi has its well established image for particular product then it can receive
little high rat for its product and gain more revenue in comparison to other competitors in
retail sector of United Kingdom (Gnizy and Shoham, 2014). Effective marketing may
lead to a huge brand image of company and consequently will benefit the firm in long
term. Thus there are many roes ans responsibilities of marketing which contribute in
accomplishing organisational mission, vision, goals, objectives and targets in future. By
this element, marketing manger can boost progress rate of business and use some
techniques to get maximum outcome fro it.
TASK 2
P 3 Marketing mix to the marketing planning process to achieve business objectives
Aldi adopts some proven techniques ans strategies which will contribute in
accomplishing organisational goals like revenue generating and goodwill in comparison to other
competitors (Huang and Sarigöllü, 2012). Marketing mix one of most effective tools to improve
product performance in long term. It has seven crucial elements which are base of company
business and to gain customer satisfaction. For example, process, physical evidence, price,
people, place product and promotion.
 Product-A product is an item which is built by company to meet Client need and desires
and consequently gain revenue out of it. There are manly two categories of it like tangible
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and intangible. Intangible is services which are provide by many firms especially by
hospitality. As Aldi is retail company, it provides tangible goods to its consumers in
grocery and sanitary or other households. This is key elements of marketing mix of Aldi
which should be offered to its customers in best quality. So to increase market share of
company, it has to observe current demand of product and make changes in its features to
gain maximum satisfaction in long term.
 Price-This is also an important part of marketing mix which affect sales of product or
services of Aldi (Luan and Sudhir, 2010). It is an amount which is given to seller in
exchange of goods. It affects profit margin and revenue of company which are essential
to survive in competitive market environment of retail sector. For maximum results, from
should adopt tree major strategies like market penetration pricing, market skimming
pricing and neutral pricing to control cost in manufacturing process. It is also needed to
make sure that quality of product is equal or more that its price so that consumers will
pay easily as they think it is value for money and get satisfied.
 People-Employees are foundation of every business organisation as they make it run it
and organise it. Without them, no form can exist as they directly relate to firm. For
smooth running of company, it is necessary to have enough number of people in
organisation and if not, new work force is recruited and selected with specific skills and
quality tom make strategies (Pomering, Noble and Johnson, 2011). Another significance
of them is that they are the only medium through which firm can deliver its product or
goods to target market in retail industry of United Kingdom. So they must be selected
through effective methods and techniques.
 Promotion-This is another aspect of marketing mix which can affect product
performance in market in long term. It is combination of four parts like sales, public
relation and advertising. Public relation help in achieving organisational target like more
market share in comparison of other competitors. It also contribute in establishing well
brand image or goodwill of firm in retail industry. It increase word of mouth which is one
of most effective method to promote goods or services. It helps in building trust in
customer about product as well as manufacturing firm in market. Another promotional
method is social media which covers maximum customer in current trend. For example,
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firm can conduct a online marketing campaign in which buyer is given social gifts on
every purchase of product or services.
 Physical evidence-These are atmosphere at store of company which customer notices at
first. It creates impression on them on behalf of company (Chaneta, 2014). For example,
when any person thinks of cookies,he recalls Aldi for it. This is called presence and
establishment of brand in customer mind. So it includes some effective ans string pints of
company which makes it best in market of United Kingdom. So Aldi should make more
efforts to improve its position in retail so that its customer can sustain to it in long term.
For further efforts, the mentioned form makes sure that it has all skilled people at stores
to assist customers and establish positive image in sight of consumers.
 Process-This is also an important aspect of marketing mix in which manufacturing
process of product is evaluated. These are mainly system through which main final
product is delivered to customers in market. So it starts from manufacturing and ends to
final delivery to clients. To progress with rapid rate, Aldi should adopt a well tailored
process so that it can minimise its cost ans consequently offer a reasonable price to buyer.
 Place-It describes area where Aldi delivers its product or services (Armstrong, Kotler and
Brennan, 2015). There are many categories of places at which customer can buy goods
like retail, direct sales, multi channel, internet, mail order and wholesale. The company
uses retail shops to provide its products all over world. For more growth and
improvement in sales, Aldi has all shops very convenient so that maximum customers can
reach there. Many shopping hub can also be used to increase sales and marketing of
goods due to accessibility of place. Online shop are also mostly used by company as
many customer see it convenient way to get item at home because they do not need to go
out to buy grocery or households (Wilson, 2010). Thus there are many parts of marketing
mix which can be used to improve existing performance and position of firm in retail
sector.
TASK 3
P 4 Production and evaluation of a basic marketing plan for Aldi
As mentioned firm is one of leading firm in retail industry in United Industry., it uses
different strategies to achieve organisational objectives and goals of profit maximisation and
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revenue. A plan related to marketing is an official document which includes different efforts and
activities that will help in accomplishing target of company to capture maximum market share in
retail sector (AsiegbuIgwe and Akekue, 2012). To implement these a perfect marketing plan is
prepared by company in which various stages are included as followings.
1. Setting major goals-This is first step in marketing plan process in which firm identifies
its short as well as long term targets so that there is clear information about exactly what
to gain in the end. For example, Aldi sets its motive to provide quality product with
reasonable price to its customers and increase profit margin by 10 percent within three
months. Setting specific goals may lead to transparency among people involved in plan of
company.
2. Defining organisation-This is second stage in preparing marketing plan for Aldi in
which natural and features of company are described. This aspect helps in identifying
capacity and potential field in which it can grow (Sukotjo and Radix, 2010). For example,
firm can collect information about its structure and management process so that it will be
more clarify to make an effective plan in future.
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