CompanyINTRODUCTION
Marketing essentials can be described as all those factors that are necessary to carry an effective as well as efficient promotional activities for attaining required outcomes. Different types of marketing procedures are conducted by companies to promote a particular product or brand which helps to boost up productivity and profitability. Marketing refers to improve the goodwill of an organization and grab more profit share in market (Baines, Fill and Page, 2013). This report is based on ALDI which is considered a common brand of two supermarket chains and deals in the retailing sector. It was founded by Karl Albrecht and Theo Albrecht in the year 1913, almost 104 years ago. It has around 10,000 stores in 20 countries having an estimated turnover of more than €50 billion along with 104,400 number of employees approximately. This assignment will discus about key roles of marketing and their interrelation with pother functional areas. It also includes comparative explanation of marketing mix with other organisation. A developed market plan and it's evaluation is given below.
TASK 1
P1 Key Role of marketing with functional units
There are various types of functions which are carried in an appropriate manner with the help of marketing activities and create desired outcomes on regular basis. Various kinds of procedures and tasks are conducted in an organisation to complete required goals or objectives. Marketing has a key role to understand actual requirements of people in market and then other functional department will perform to fulfil desired needs properly (Bowie, Paraskevas and Mariussen, 2014). ALDI have to establish an accurate marketing team which is efficient enough to conduct required tasks in correct way. Some of them are given below:
- Promotion: - This can be explained as main function of marketing in which company will carrying out several promotional activities to gain better outcomes onregularbasis in order top improve productivity as well as profitability. Promotional events involves advertisements, posters, banners, pamphlets and so on that provide support to boost to up goodwill of ALDI and grab more profit share in market.
- Selling: - The term selling can be defined as to sell product to client through convincing them by attractive and beneficial features of brand. Sometimes, previous use of goods will provide better satisfaction to them which facilitate regular purchasing of product. ALDI can gain actual requirements of people according to current fashion of market and render accurate service to make them loyal for brand for a long time to gain desired profits.
- Financing: - The term financing refers to funds or money which is necessary factor to carrying out any business properly. It is necessary to invests certain amount of money to conduct required processes to earn profit. Marketing activities also needed some funds to conduct them in attractive manner to get desired outcomes in ALDI.
- Distribution (Channel management):- This can be described as to carried out channel management for distribution of goods in bulk so that people can buy products easily (Brassington and Pettitt, 2013). Customers will frequently switch to another brand then it is important to make product availablefor them so that they can purchase it to fulfil their needs, wants and demands in proper manner. ALDI have to focus on this process and conduct it in required way. Marketing department will provide an accurate information about requirements at different distribution channels to supply goods in correct manner.
- Product (Service management):- The term product is known as final goods which are ready to sell for completing needs and desires of customers. In this case, marketing team will render proper information about requirements of people along with changing trends of market. It will helps to production section for manufacturing desired product to fulfil needs of clients. ALDI can gain more details about preferences of citizens and complete their expectations properly.
- Pricing: - This refers to that amount of money which is paid by consumers to buy particular product or service. It basically includes cost of manufacturing and profit of company but it is necessary to make good affordable for customers. Marketing section of ALDI have to provide in formation about budget of income of clients according to that product will be produced in low cost and fulfil requirements of citizens.
- Marketing Information System: - This can be explained as an effective marketing information system which provide support to gain required information about several aspects and maintain previous records for future purpose (Cleverley, 2017). Marketing activities can be conducted in proper manner through analysing mandatory data and earn better profits in ALDI.
The above mentioned sections of any organisations should be carried out in an appropriate manner to generate desired outcomes on daily routine of business. ALDI have to focus on various functions and conduct different tasks or activities in correct way to attain required targets properly.
M1
Marketing section of any company has several roles like research, selling, promotion etc. which are necessary to be conduct in correct manner because they help to improve profits. Marketing team find out actual needs, wants and preferences of customer and changing trends of market. It will help to production section to make an appropriate product to fulfil desired requirements of clients along with satisfaction (Clow and James, 2013).
P2 Different organizational functional areas related with marketing
There are different types of functional areas which are established by each and every organisation to conduct various kinds of functions in proper way. It is necessary to make an effective as well as efficient strategies to carried out regular tasks or activities in company to generate desired outcomes. ALDI have to collect an accurate knowledge about present scenario with help of marketing team and them complete required tasks.
- Customer services: - The term customer service refers to product which is provided to people for complete their basic needs, wants and demands in proper manner. It is necessary to provide desired goods to customers as per their preferences. It will become possible with help of marketing department as they render knowledge about actual requirements and desires of clients. ALDI have to gain actual knowledge about demands of citizens and them manufacture correct products to fulfil expectations of them.
- Distribution: - This can be described as to supply gods in bulk to different stores or shops in market to make them available for customers. Marketing team will provide information about actual demand of customers on various geographical areas and them distribution can be done in correct way. It is necessary for ALDI to supply product at right time so that citizens will become capable to purchase it whenever required to complete their requirements.
- Finance:- The term finance is relevant to money which is key factor behind any business (Desai, 2013). Every activity or process which is carried out in company is required certain amount of money to generate desired outputs. Marketing activities are requires funds for conducting required events so that productivity as well as profitability of company can be improved properly. ALDI have to manage finance of company through gaining actual information with help of marketing team to conducting different functions.
- Human resource:- This can be described as the whole work force of company. All staff members working on different levels in an organisation are known human resource. It is mandatory to allocate various tasks or events to employees as per their field of expertise which facilitate to generate better outputs and they will perform interestingly. ALDI have to focus on efficiencies of an individual while hire them for marketing department because all functions are carried out on basis of information provided by these people.
- Marketing: - The marketing refers to several kinds of promotional activities which are carried outevery small and large organisation to promote their product or brand to gain more number of customers (Dibb and Simkin, 2013). Marketing team have to determine current trends of market according to that they have to conduct different types of promotional events to attract more clients effectively. ALDI have to conduct on marketing procedures so that they will gram more profits share in market.
- Sales:- This can be explained as to maintain sales targets through putting an accurate efforts to complete them accordingly. Sales target are very essential to be fulfilled because it is responsible for profits of company. Marketing team have to provide an effective training to their members so that they can convince consumers to purchase product on regular basis. ALDI have to focus on efficiencies of employees and conduct desired learning programs so that they will improve their abilities and create better productivity.
- Production:- The production is all about to produce required products or service to fulfil requirements of customers. Manufacturing section of company is very essential as it prepare goods which are sullied to market to earn desired profits (Durmaz, 2011). Marketing team provide actual information about needs, wants, demands, taste and preferences of people according to which production department prepare desired goods to fulfil expectations of consumers to gain their satisfaction. ALDI have to focus on accurate data provided by marketing tea,m and then work on them properly to get better outputs.
- Research and development:- This can be defined as research and development programs which generally carried out by marketing team to determine changing trends of market along with actual demands of customers. It includes to conduct various types of events that helps to collect actual data according to which required actions must be taken by ALDI to get better outcomes.
M2
The company has several departments such as human resource, finance, distribution, sales, marketing, research & development and many more. These sections gain an accurate information from marketing team and according to them they will perform their tasks to create desired outcomes on daily routine. It helps to know about present fashion of market and preferences of clients to make correct product to fulfil their requirements properly (Fazlollahtabar, Aghasi and Forte, 2012).
D1
The key elements of marketing are to function is conduct more effective as ell efficient promotional activities to improve goodwill of brand at market area. They also conduct research of market trends to know about actual requirements and provide that information to other sections of company. It will support ALDI to complete all the desired functions properly to get required benefits as well.
TASK 2
P3 Comparative discussion of the marketing mix
The marketing mix refers to a set of tools which are utilised by companies to complete marketing objectives in correct way. It has several components such as product, price, promotion, place, people, process and physical evidence. It is necessary to analyse about these elements because they are responsible for overall profitability of an enterprise (Fırat, 2013). A comparative discussion of the marketing mix of ALDI with ASDA is given below:
|
ALDI |
ASDA |
|
|
Product |
·This company is reputable brandans provide better quality goods to people. It basically render several products like Rich tea biscuits, Little journey, Elevation, Simply nature, Choco rice, fit & active and Priano. They provide guarantee for their products and promise to replace them immediately which facilitate to retain people to company easily. It has almost 1350 number of products along with new ones. |
·ASDA provide various goods such as fresh, chilled, and frozen food, drinks, health and beauty products, laundry and household products, clothing, outdoor and entertainment products. This enterprise is also rendering certain financial services also like travel insurance, debit cards, personal loans etc. they have an effective policy to make goods more beneficial for people (Gertner, 2011). |
|
Price |
·This firm has an effective as well as efficient pricing strategies. They provide wide range of goods of regular usageat suitable or low rates along with maintaining quality of products to gain more number of loyal clients. They have target customers including lower middle class and middle class section of society and kept their desires in mind making pricing policies. |
·This company is also focus on low cost agenda because many people are not able to budget expensive products as per their limited budget of income. Apart from this, they render an outstanding value of money while providing an appropriate quality of food productsand other goods. |
|
Promotion |
·It is an international brand then it is necessary to balance it's impacts on global market along with using an effective techniques to communicate with desired consumers (Hamilton, 2011). They conduct certain humorous campaigns that support to prepare an emotional link withcitizens along with using social media for promotional purpose as well. |
·ASDA has used several kinds of methods or techniques such as television, newspapers and other media outlets to make an effective conversation with customers. This firm also carried out certain efficient tools for sales promotion as well which provide support to earn more profitability. |
|
Place |
·This is very important to supply products goods at desired geographical areas to gain more number of customers along with the current ones. ALDI has covered global area of market and distribute goods in certain countries like US, UK, Italy, Belgium, Australia, Denmark, Austria, France, Ireland, Hungary etc. grabbing more market places is an essential criteria to expand business and achieve better growth of company. |
·The firm is basically deals in different nations in United Kingdom having around 525 stores approximately along with it's online platform as well.They have a range of formats to maintain stores such as super centres, superstores, supermarkets, ASDA Living, and Petrol Filing Stations. In this, supercentres are considered as huge stores that provide extended range of food, George and non- food etc. |
|
People |
·They have an efficient impact on customers through providing services properly which attract people towards brand. Employees of ALDI are much trained as they understand requirements of people in correct manner and render an accurate service to them. |
·This organisation has almost 160,000 staff members working as they offer on the job and off the job opportunity of training to develop skills or abilities of workers at several levels. They have well experienced employees to render required service to people (Jones and Rowley, 2011). |
|
Process |
·They have an appropriate procedure to focus on feedbacks or suggestions collected from clients and work on them properly to improve product or service which facilitate to attain satisfaction and make loyal customers. |
·They have an appropriate process in which suppliersand then goods are kept in shelves in well organised manner from where customers can buy. People can prefer self service while purchasing and make payments through machines. |
|
Physical evidence |
·They have physical evidence of maintaining an effective shops or stores to through modern techniques boost up shopping experience of people. |
·It involves stores, logo, website, brochures and customer experience in ASDA. |
M3
There are various types of strategies which are made of company to carrying out regular tasks of business and generate desired outcomes. Through analysing trends of market and modified demands of consumers, it is necessary to implement more attractive features to product for achieving satisfaction of people (Joshi, 2012). Apart from this, it is also mandatory to focus on policies on competitors so that ALDI can take required actions towards it to maintain profitability.
TASK 3
P4 Market plan
The market plan refers to an effective design in which helps to conduct marketing procedure in more appropriate manner to get desired outcomes.This process include to analyse various components that are relevant to marketing.
- Overview of the company:- ALDI is a kind of brand of two super market chains that deals in retailing sector. It was founded by Karl Albrecht and Theo Albrecht in the year of 1913 . this company has several products like food, beverages, sanitary articles, house hold goods and many more. It is serving products at global level having work force of around 104,400 working within an organisation in different branches of same enterprises.
- Vision and mission of the company:- The vision statement of ALDI is to revolutionize the grocery industry along with an unique business model. Mission of this company isto provide top qualityof products at incredibly low prices which can be affordable for customers with factor of guarantee (Khan and Adil, 2013).
- Market segmentation:- This is all about to make segments of target customers from a population of people. It includes those clients who are desired ones for product of an organisation. The existing, regular and potential consumers of ALDI are considered into market segmentation of an enterprise.
- Target market:- This can be described that particular group of customers who buy products of ALDI ion regular routine. These people are responsible for present productivity as well as profitability of an organisation. Basically, this company several goods of daily use then they have target customers including children, youngsters and old age citizens as well.
- Marketing objectives:- The major goal of marketing us to improve goodwill of company and grab more market share to earn better profits. It helps to improve shareholder values for along period of time. It includes the aim of attract new customers along with retaining the current ones to become strong competitor at market place and gain better profitability.
M4
Marketing plan refers to design of several activities which are included in this process to conduct required events in correct way to get better outcomes. It basically includes mission & vision of company, target customers, market segmentation, objectives etc. which are necessary to be determined and complete them in an appropriate manner to get desired results in terms of profits.
D2
Marketing mix refers to several factors such as product, price, promotion, place, people, process and physical evidence which are required to be analyse and evaluated properly. This will helps to make market plan of ALDI to focus on target clients and prepare effective strategies to complete desired objectives to gain better profits.
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CONCLUSION
The above report had concluded that marketing essentials can be described all those factors that are necessary to carrying an effective as well as efficient promotional activities for attaining required outcomes. Marketing has a key role to understand actual requirements of people in the market and then another functional department will perform to fulfil desired needs properly. The marketing mix refers to a set of tools which are utilised by companies to complete marketing objectives in correct way. The market plan refers to an effective design in which helps to conduct marketing procedures in more appropriate manner to get desired outcomes.
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