Roles and Responsibilities of the ALDI's Marketing Functions

Aldi is one of the leading discounted chain of supermarket which was establishes in 1913 with its headquarter base in Essen, Germany. It has around 10,000 stores in 20 nations which generates it a revenue of around 30.5 billion euros in 2017.

This assignment will discuss about the key roles and responsibilities of the aldi's marketing functions, further explaining their interrelation with various other functions of organization. It will provide a comparative study of marketing mix strategy of Aldi with its leading competitor TESCO . A basic marketing plan will also be explained .

TASK 1

P1 Aldi : Key roles and responsibilities of the marketing function

Marketing forms cornerstone in deciding success of a firm as it assists firm in catering the needs and wants of a firm by providing them with products and services they aspires to gain customers satisfaction. It is the efficiency of marketing department that stimulates its consumer to buy their products or avail its services by capturing their attention by making use of various tools and techniques of sales promotion for reaping in them the need to have that product. Thus, it helps company to attain its mission, vision and goals in the most effective manner earning higher profits and sales volumes. Also, it strives to retain its existing and capture new potential consumers by maintaining long term relationship with them.

Aldi being 5^th biggest grocery retail chain is having 70 new stores in UK. Thus, to maintain and enhance its position, it is essential to monitor and analyse the frequent changes occurring in micro environment comprising customers taste and preferences, competitors strategy, prevailing tends etc. so that it can adopt necessary modification in its present products, process, technology or to introduce innovation in them (Babin and Zikmund, 2015). Thus, it ,leads Aldi to earn higher sales volume, high returns and to enhance its customers loyalty towards the brand. Mentioned below are some of the most prominent functions undertaken by marketing unit of Aldi :

• Monitoring and managing social media: With this age of digitalization where internet has become essential part of human life and is taken as a medium to carry out various activities. As today consumers have shifted to e-mode for getting all their life essential tasks done comprising making a purchase to paying out bills, from entertainment to get knowledge of world electronic media with its social apps serves as a valuable option for Aldi's marketing unit gaining knowledge about its customers preferences, rivals tactics, market scenario and other information on which it keeps a close watch and thus plan out its next strategy based on it (Baker and Saren, 2016).
• Market Research: Market research forms one of the important functions of a marketing department as it helps the company to know about demands and aspirations of its target audience. Market research is a basically a collection of data and information conducts by every firm to know about potential opportunity, threats and various other customer and market related information. Aldi collects information by conducting surveys, filling up questionnaires from people etc. and then analyse this data to take important decisions related to its products for formulating action plans for reducing probable future risks.
• Promotion: Promotion forms an essential part of Aldi's marketing strategy which enables it to diversify its market share and to attract new consumers. Aldi being a leading brand make use of both electronic media comprising TV,online promotion(through social media such as, instagram, facebook ,twitter etc.) and print media including newspapers and magazines ads etc. to reach its target customer group and communicate them about its products, latest offers and schemes
• Pricing:Another essential function of marketing department if Aldi is to take important decision related to its pricing policy. Aldi being a discounted supermarket chain strives to capture market share by providing its customers groceries and other general merchandise of good quality at affordable prices (Enache, 2011).

P2 Interrelation with various functional departments

A business is an amalgamation of various departments whose coordination among themselves is of utmost importance a firm to achieve for meeting out is set objectives within specific timeline and with efficiency and maximum outputs. Amongst all the departments of Aldi its marketing departments is the one that plays the major role in publicizing about products and services it offers and add value to them. In addition to this it is also accountable for monitoring the whole process of delivery of goods and services to its end users. To gain efficiency in successfully conducting these activities and attain overall objectives of a firm with higher productivity, this department works in close coordination and in collaboration with other departments of a Aldi in order to reap higher profits by producing goods and services of high quality. Mentioned below is description of interconnection of marketing with other segments of a firm:

Marketing function and Human Resource Department- Marketing department requires proficient personnel having good communication and interpersonal skills so as to persuade customers to make a purchase (Gordon, 2012). Also they are requires to have well versed information related to company's products and services in order to assist consumers while shopping and also to efficiently handle their queries by providing viable solutions. Thus, HR department of Aldi assist marketing unit by ensuring right professional working at right job profile available at right time when he is required Also is formulates various policies, programs and strategies for training and developing them,to retain them and motivate them to give their best efforts for achieving firms goals.

Marketing function and Finance Department- To carry out its market research and other promotional activities marketing department requires sufficient funds. Thus finance department of Aldi helps marketing division in selecting most cost effective tools and techniques that could be adopted to reach out its target audience and provide it with necessary funds to meet of expense of its promotional activities.

Marketing function and R&D department : As there is frequent change in market scenario in just a blink of an eye due to variations occurring in customer's needs ad wants, technology, competitions strategy etc. marking unit of Aldi works with close association with its R&D division which assist in providing data and information related to complete micro environment on the basis of which it takes decision related to planning, designing a new innovative product or to make alteration in existing one (Hair, 2015).

Marketing and Customer service Department- To enhance customer satisfaction and to increase its brand image marketing and customer care departments complements each other works. Its is because marketing department through surveys questionnaire collects information about the lacking customers feels in their services an d forward it to customer service departments to take required actions (Huang and Sarigöllü, 2014). On the other hand customer service unit provides marketing unit about the feedback of customers related to company's products which could be analysed by them to introduce necessary modifications or to innovate a new one.

TASK 2

Marketing mix (7Ps) Aldi

IMPORTANCE OF MARKETING

Aldi being a global leading discounted chain is constantly being exposed to a number of micro environment factors which makes its critically important for it to continuously monitor and adhere by the changes occurring in its market scenario so as to enhance its brand image and gain edge over its rivals by been proactive in identifying threats and preparing necessary counter strategies or plan to deal with them (Leonidou, Katsikeas and Morgan, 2013). Thus, importance of marketing in context of Aldi's marketing division could be sum up in mentioned below points:

Communication: It forms the base of marketing as it is related to making customers knowledgable about the various products and services that a firm offers and its related benefits buy adding value to them. Also , in reference to firm marketing departments works in close association with all other division so that effective and necessary decisions could be taken on various business matters reacted to product design , process, technology being used, innovation etc. which all will help in attaining long term growth an development. \

Relationship Building: To maintain its market share and to build trust and loyalty of consumers towards its brand marketing unit of Aldi provides goods and services as per customers specifications with high quality at affordable prices. Also with working in association with customer care team it tries to resolve all queries and doubts of them which help company to gain customer's satisfaction .

MARKETING MIX

Marketing mix can be described as the perfect amalgamation of 7P's of a marketing that is been utilized by a firm to formulate most appropriate strategy to for its brand promotion which is expected to reap large market share or increase in sales volumes and profits of a firm (Terpstra, Foley and Sarathy, 2012). Thus , Aldi strives to provide right product,at right time, at right place by using best suitable promotional strategy. Mentioned below is the comparison of marketing mix of Aldi with its on of the leading market contender TESCO:

TASK 3

P4 Produce detailed marketing plan

Marketing plan is blueprint that describes all the business activities involved in attaining specific marketing goals within a specific time frame. It also include present market position of the company along with analysis of its potential target ,market and details related to its marketing mix strategy to be adopted to gain competitive edge and generate higher profits (Menegaki, 2012). It helps management to communicate roles and responsibilities to each employee and to provide them necessary guidelines to be followed to efficiently complete their assigned tasks . Mentioned below is the marketing plan of ALDI :

OVERVIEW OF ALDI

ALDI , the 5^th largest brand is a combination of two discount supermarket chain with an around 1000 stores in 20 countries across the world. It has a product line of 1350 products comprising groceries, home appliances, stationary, beauty products etc. available at affordable prices (Ormrod, 2014). It has a team of 149,000 employees and around 1000 supplies that makes Aldi a streamlined process brand giving timely services leading to earning revenues of around $6.5 billion every year. ]

Vision and Mission

VISION of ALDI: “To provide highest quality of product to its potential buyers at an affordable price or cost.”

MISSION STATEMENT of Aldi: “To revolutionize food and grocery industry with a strategic business model."

SWOT ANALYSIS

Marketing Budget

It is prepared by Aldi's marketing manager to estimate budget related with its various promotional activities

Implementation, Monitoring and Controlling

To maintain its lead and to diversify its market share it is essential for business to continuously monitor effectiveness of its marketing strategies (Silberschatz, Galvin and Gagne, 2014). Also it has to access whether plans formulated by Aldi is effect plan is effective enough to attain the objectives of ALDI within specified time frame or not. It not corrections are require to measure and formulate actions that improve overall efficiency of marketing plan or activities.

CONCLUSION

The project undertaken conclude that marketing forms the backbone of every business to attain long term growth and development. To capture the attention of its target customer and to induce sales marketing department fulfil various roles and responsibilities that helps a firm like Aldi to provide products and services as per requirement of its potential buyers. Marketing departments of Aldi to enhance effectiveness of its decisions collaborates its efforts with various other departments of a firm. A detailed comparison of marketing mix strategies of Aldi with its leading rival TESCO is presented. Lastly , marketing plan for Aldi is formulated.

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REFERENCES

Books and Journals

• Armstrong, G and et al, 2015. Marketing: an introduction. Pearson Education.
• Babin, B.J. and Zikmund, W.G., 2015. Exploring marketing research. Cengage Learning.
• Baker, M.J. and Saren, M. eds., 2016. Marketing theory: a student text. Sage.
• Enache, I.C., 2011. Marketing higher education using the 7 Ps framework. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V. 4(1). p. 23.
• Gordon, R., 2012. Re-thinking and re-tooling the social marketing mix. Australasian Marketing Journal (AMJ). 20(2). pp. 122-126.
• Hair, J.F., 2015. Essentials of business research methods. ME Sharpe.
• Huang, R. and Sarigöllü, E., 2014. How brand awareness relates to market outcome, brand equity, and the marketing mix. In Fashion Branding and Consumer Behaviors (pp. 113-132). Springer, New York, NY.
• Leonidou, C.N., Katsikeas, C.S. and Morgan, N.A., 2013. “Greening” the marketing mix: do firms do it and does it pay off?. Journal of the Academy of Marketing Science. 41(2). pp. 151-170.
• Lovelock, C., 2011. Services marketing: People, technology, strategy. Pearson Education India.
• Martin, C., Campbell, R. and Harmsen, S., 2014. Media essentials: A brief introduction. Bedford/St. Martin's.
• Menegaki, A.N., 2012. A social marketing mix for renewable energy in Europe based on consumer stated preference surveys. Renewable Energy. 39(1). pp. 30-39.
• Ormrod, J.E., 2014. Essentials of educational psychology: Big ideas to guide effective teaching. Pearson Higher Ed.
• Papasolomou, I. and Melanthiou, Y., 2012. Social media: Marketing public relations’ new best friend. Journal of Promotion Management. 18(3). pp. 319-328.
• Pomering, A., Noble, G. and Johnson, L.W., 2011. Conceptualising a contemporary marketing mix for sustainable tourism. Journal of Sustainable Tourism. 19(8). pp. 953-969.
• Sheth, J.N., 2011. Impact of emerging markets on marketing: Rethinking existing perspectives and practices. Journal of Marketing. 75(4). pp. 166-182.
• Silberschatz, A., Galvin, P.B. and Gagne, G., 2014. Operating system concepts essentials. John Wiley & Sons, Inc..
• Terpstra, V., Foley, J. and Sarathy, R., 2012. International marketing. Naper Press.
• Wilson, J., 2014. Essentials of business research: A guide to doing your research project. Sage.

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