• Posted on December 20, 2023
• Unique Submission Team

Assignment Sample on Marketing Planning

EXECUTIVE SUMMARY

A marketing plan is considered as the systematic plan or process to increase the revenues of the business. This study is based on ALDI that is operating in the supermarket sector that offers a wide range of goods to buyers. It is aiming to grow well in the international market. A wide product range is the strength of the firm. By improving promotional techniques the business can increase its sales revenues. The digital media platform is a great source through which a firm can make close interaction with the consumers and can make them positive towards the brand as well.

INTRODUCTION

Marketing is the essential business function that ensures identifying the needs of consumers and offering them products as per their needs. This is the process of selling goods and promoting the products in the market and aware people with the uniqueness of the business. The current study is based on ALDI (Chernev, 2020). This is a medium-scale retail business. It was established in the year 1946 and currently operating in 11235 locations. It offers grocery, household essentials to the consumers. In the year 2018 business has earned a revenue of 1.9 billion. The current assignment will conduct the situational analysis of the business. It will prepare the marketing objectives and strategies through which the firm can grow well in the market. Marketing budget and financial forecasting will be done in this study.

SECTION 1

Mission, Aim, and Objective

Mission

ALDI’s mission is to set standards of food retailing and expand its market position. It ensures to improve the quality of its products and develop a global brand position in the market.

Aim

ALDI aims to increase the number of consumers and sustain itself in the market for a longer duration by delivering satisfactory goods and services to the buyers.

Objective

The objective of ALDI is to enhance the profitability of the business and enter into the foreign market (Fotiadis, Mombeuil, and Valek, 2018).

ALDI always takes care of the needs of buyers and offers them services as per their needs. It is planning to expand its business in Mexico. This may help the organization to increase the number of consumers of the firm and can help the enterprise in enhancing its revenues as well. In this way, it will be able to accomplish its goal.

SECTION 2

Situation Analysis

ALDI is operating in 20 countries and offering low-priced goods to its consumers. Its discount stores are always concentrating on delivering the best services to the consumers. Situational analysis helps the firm to identify its internal and external market position and make a plan to improve its position in the market successfully.

SWOT analysis

This is the framework that creates opportunities for the business to identify its internal market position and analyzing the improvement areas so that it can manage its operations accordingly (Da Silva and Las Casas, 2017).

Strength

• Pricing discount stores: One of the main strengths of ALDI is that it offers affordable goods to its buyers. There are mainly retailers that offer the same goods at higher prices but these pricing tactics support ALDI to grow well in the market successfully.
• Strong ecosystem: ALDI is contributing well to developing the strong ecosystem. It always ensures to give shopping convenience facilities to the buyers and ensure to eliminate the waiting time. It takes care of managing resources well this helps ALDI to develop a positive image in the mind of consumers and retaining them in the firm for a longer duration (Kotler and et.al. 2017).
• Wide range of products: the range of products available in ALDI is very high. All kind of consumers can get their desire items in this store. This attracts the consumers and makes them feel happy as well.

Weakness

• Low-profit margin: ALDI is offering its goods and services to the buyers at an affordable rate hence it keeps a low-profit margin that sometimes creates an issue for the business to make the reserves. It is highly dependent upon its sales volume only. ALDI finds engaged in many unethical practices as well such as price discrimination and poor treatment with suppliers so that it can keep the cost of production low.
• Poor employee satisfaction: ALDI is facing the issue of high employee turnover as its workers are not happy in the workplace (Dib, 2018). They have to work in multiple shifts and receive less pay than makes them dissatisfied and reduces their productivity as well.
• Poor penetration in high-income consumers: ALDI concentrates on low and middle-income class consumers hence do not pay attention to high-income group consumers that are the major weakness of the business that creates sustainability issue for the organization.

Opportunities

• Globalization: ALDI has the opportunity to enter into the new market and develop its global brand image. This may support the enterprise in increasing its revenues and sustaining in the market for a longer duration.
• Technological advancement: ALDI can also implement new technologies that would help in increasing productivity and serving consumers quickly. The Use of POS systems, online payment machines, online shopping applications can enhance the sales opportunities for ALDI and can help the firm to grow well in the international market.

Threats

• High competition: ALDI is facing intense competition in the market that creates issues to sustain in the market for a longer duration (Melchiorre and Johnson, 2017). Wal-Mart, Tesco is the biggest competition of the firm that creates threats to the business.
• Changing laws: Changes in the reregulation create a threat to the firm because it has to make changes in its operations that may create financial and sustainability threats to ALDI.

Pestle Analysis

This is the macro-environmental analysis tool that indicates the impact of macro components on the success of the business unit in the market.

Political factor:

ALDI is conducting its operations in 20 nations but still aims to expand its business in Mexico as well. Conflicts between two nations affect the market expansion of the business (De Pelsmacker, Van Tilburg, and Holthof, 2018). If there is a poor relationship between two nations then it may create an issue for ALDI to expand its business in that nation. Rigid policies made by the government may create an issue for the firm to manage its operations greatly. But flexible trade agreement encourages business to enter into the new market and expand globally. This creates new profit-making opportunities for ALDI.

Economic factor

ALDI currently operating in the UK and the economic condition of the country is sound. Consumers have adequate income sources that help the firm to increase its sales volume greatly and enhance profitability as well. High inflation in the country sometimes restricts the consumption power of buyers hence they spend less money. This can create a threat to the firm and affect its market growth as well (Opresnik, 2018).

Social factor

ALDI is working well in the supermarket industry where it always concentrates on meeting the needs of buyers. In the recent time of the pandemic, people are demanding hygiene and healthy goods. Changing needs and preferences create an issue for ALDI to manage its operations in the market successfully. In this way, it sometimes fails to sustain itself in the market for a longer duration (Sanjaya, Henning, and Purba, 2017). People have a saving nation and they like to get affordable retail products. This boosts sales of the firm and helps in managing operations successfully in the market.

Technological factor

Supermarket companies are using advanced technologies to provide the best experience to buyers. ALDI has implemented POS machines in its stores so that it can be easy for the consumers to make payments quickly. Apart from this, online applications are made through which people can make their orders online. This creates an opportunity for the firm to grow well in the market. On the other hand, technological up-gradation and changes enhance the pressure of ALDI because it increases the cost of operations when it implements new technologies.

Legal factor

ALDI is following all norms carefully. It ensures to implementation of employment legislation in the firm greatly so that legal complications can be minimized. It legally advertises its brand so that no confusion takes place and people can know more about its goods and services greatly (Lamb and Crompton, 2017).

Environmental factor

ALDI always uses resources well and ensures to minimize wastage. That supports minimizing operational costs. It always takes care of supporting the poor class of people and managing the environmental conditions as well that improves the brand image of the firm and attract more people towards the organization.

SECTION 3

Market Analysis

Consumers are the backbone of the company, the satisfaction level of consumers always helps the business to increase the revenues in the business. ALDI is concentrating on the lower-middle-class people who like to get affordable goods and services. Consumers have adequate income to spend money on these essentials products. They visit stores frequently and shop online as well. According to the records of 2009 average spending of the family on retail products is near 143. People like to get value for money and preferring to shop from the store that offers them high-quality material at affordable rates (Minton and Krszjzaniek, 2020).  36% of consumers of the UK have shifted to a down market for purchasing essential grocery and food items. This has raised 20% profit of LADI and supported the growth of this sector as well.

The supermarket industry of the UK is growing with rapid speed. This contributes well to the economic development of the country. Britain has employed near 3 million people in the retail sector. That means 11% workforce of the country is working in this industry. The supermarket industry sales have a worth of 265 billion that contributes 8% to the GDP of the UK. Supermarket offers household goods, grocery items, and other essential items to the buyers. Apart from this, the demand for non-food items is also increasing in the nation and many supermarket stores are selling these non-food items. UK’s supermarket industry is considered as the high stable sector that is enjoying high growth.

SECTION 4

Marketing strategies

Objectives

Marketing objective

• The marketing objective of ALDI is to increase its sales by 30% till the end of 2021.
• To open three more stores of ALDI within 6 months
• To open a new brand in two other locations within one year.

Financial objective

• The financial objective of business is to enhance its market share by 35% within 2 years
• To increase the profit of ALDI by 40% within 1 year
• To decrease cash outflow and enhance net profit by 15% within 6 month

Social objective

• The social objective of the firm is to provide high-quality goods to consumers.
• To support poor families by donating money for their welfare.
• To provide more eco-friendly products to protect the environment and improve resource utilization by 10% more.

Core target market

ALDI is targeting families that buy retail goods and services regularly. It targets people of the lower-middle-income group. High-income group people generally like to buy goods from the big brand only and they are ready to high prices for the same. ALDI always concentres on the needs of middle-class families that have adequate spending power and income sources. They buy material after looking at its quality and uses for them (Migliore, Howard, and Gray, 2018). It targets the female consumers who visit supermarket stores and buy actual goods.

Basis of competing

ALDI is competing in the market based on its cost-effectiveness. It always takes care of reducing the operational cost that is the major indicator of competition. It also competes based on the profitability in the market. Apart from this, quality of products, product recall, customer complaints, customer satisfaction are the major element of competing in the market. ALDI always takes care that it offers high-quality goods to the buyers and satisfies them greatly.

Desire positioning strategy

The company is aiming to gain a competitive advantage in the market. This aims to gain the product positioning strategy where it can raise the quality of its products and can offer more sustainable products t the consumers at affordable rates (Ycedo, 2020).

SECTION 5

Marketing mix

The marketing mix is the essential element that may help the business to raise its profitability and accomplish its marketing goal.

Product

ALDI is a reputed brand in the UK that always focuses on offering quality products to buyers. It ensures that a wide range of products can be offered to consumers so that more people can feel satisfied and get their desired item. It improves its services as well. It delivers quick services to its buyers so that they frequently visit its stores. ALDI needs to give guarantees of its products to replace in case of any issue or damage. This may help the business to grow well in the market and enhance the satisfaction level of buyers as well. Recently the company has more than 1350 products that can serve the needs of buyers significantly (Barnwell, 2018).

Price

ALDI uses a penetration pricing strategy in which it always concentrates on offering products at affordable rates to the consumers. This increases sales of the company and helps the business to attract more consumers towards the brand. The main target market of consumers is middle-class people and they always demand low price products. It also offers some discounts and rewards to the consumers so that they feel happy and retain in business for a longer duration.

Place

ALDI has many physical outlets in different locations. Consumers can shop from these stores. It does not have any frills outlet where products can be displayed to consumers. It has a simple layout facility. All the stores are at accessible locations hence consumers can reach the location easily. The company needs to ensure that improves its layout so that more consumers take an interest to come to its store greatly (Opresnik, 2018).

People

ALDI does not treat its employees well. There is a need that it offers attractive pay to employees offers them incentives so that they feel happy and satisfied and retain in the business for a longer duration. The organization always needs to train its workers so that they can deliver the best services to the buyers in-store.

Physical evidence

It is required to improve its taglines so that consumers can get attracted to the brand. The infrastructure of stores needs to be improved. There should be adequate space to sop for the buyers. This may help a business to accomplish its financial and marketing goal.

Process

ALDI needs to take immediate action to resolve the complaints of buyers. Consumers have the option to raise the issue on its website and the team gives immediate response to their issues and resolves it soon. This raises the satisfaction level of consumers and they like to shop in the future as well (Dib, 2018).

SECTION 6

Promotion and communication

Advertising

ALDI will advertise the brand on TV, this is the convenient option of promoting the brand. TV advertisements are watched by many people and they get to know more about products offered by business and discounts well. This may attract the consumers and they will shop from the ALDI store surly. It will advertise its products on TV every second week.

Sales promotions

ALDI will offer sales discounts to its buyers every 30^th of the month. This will increase the number of consumers in the store and revenue of the business will be increased. Apart from this, it will offer rewards to the consumers on their shop, and reward points can be less from their shopping bill amount (Chernev, 2020).

Online and digital marketing

ALDI will promote its brand on social networking sites. This would be a great option as a large number of people are using these sites and get influenced by the comments and reviews of others. By promoting the brand on this digital platform ALDI will be able to attract more people and this will increase revenues of the business. This is the best way through which a business can accomplish its goal.

Other promotion

It will conduct a sales campaign and will organize events in the supermarket store. This will attract more people and will help in obtaining the business goal successfully.

SECTION 7

Planning and budget forecast

Sales forecast and Projected Profit and Loss statement

	Jan	Feb	march	April	May	June	July	Aug	Sep	Oct	Nov	Dec
Cash inflow
Sales	15000	16500	18150	19965	21961.5	24157.65	26573.42	29230.76	32153.83	35369.22	38906.14	42796.75
Total inflow	15000	16500	18150	19965	21961.5	24157.65	26573.42	29230.76	32153.83	35369.22	38906.14	42796.75
Cash outflow
Rent	1500	1500	1500	1500	1500	1500	1500	1500	1500	1500	1500	1500
Salaries	2500	2500	2500	2500	2500	2500	2500	3500	3500	3500	3500	3500
TV ad expenses	2000	2000	2000	2000	2000	2000	2000	2000	2000	2000	2000	2000
Digital marketing expense	1200	1200	1400	1400	1400	1400	1400	1400	1400	1400	1400	1400
Sales promotion cost	2600	2600	2600	2600	2600	2800	2800	2000	2600	2000	2000	2000
Campaign cost	1800	1800	1800	1800	1800	1800	1800	1800	1800	1800	1800	1800
Miscellaneous expense	600	600	700	600	800	600	900	6 00	1000	600	600	600
Total cost	12200	12200	12500	12400	12600	12600	12900	12800	13800	12800	12800	12800
Net profit	2800	4300	5650	7565	9361.5	11557.65	13673.42	16430.76	18353.83	22569.22	26106.14	29996.75

SECTION 8

Implementation, monitoring, and controlling

Implementation of marketing plan

Marketing activities of ALDI will be planned first and the marketing manager of the firm will implement the plan. The individual will ensure that each team member performs well and execute the plan properly. Set goals will be reviewed and marketing activities will be implemented so that the business can reach its final goal.  Communication among all members will be done systematically so that firm can manage the sales greatly (Opresnik, 2018).

Monitoring

The marketing manager of ALDI will monitor the performance of each employee. Apart from this sales will be reviewed continuously. In this way, monitoring will be done and it will be ensuring whether the business can meet the marketing goal or not.

Controlling

The company will make interacting with the consumers and will take their reviews. This is the best way through which the firm will be able to control the performance greatly.

CONCLUSION

From the above study, it can be concluded that business needs to adopt the effective marketing tactics to grow well in the market. Sound strategies of marketing allow the firm to communicate its message to the consumers greatly and increasing sales in the enterprise. This is the best way through which a firm can gain a competitive advantage and can sustain itself in the market for a longer duration as well.

REFERENCES

Barnwell, R.G., 2018. Guerrilla Film Marketing: The Ultimate Guide to the Branding, Marketing, and Promotion of Independent Films & Filmmakers. Taylor & Francis.

Chernev, A., 2020. The marketing plan handbook. Cerebellum Press.

Da Silva, E.C. and Las Casas, A.L., 2017. Sports marketing plan: an alternative framework for a sports club. International Journal of Marketing Studies, 9(4), pp.15-28.

De Pelsmacker, P., Van Tilburg, S. and Holthof, C., 2018. Digital marketing strategies, online reviews, and hotel performance. International Journal of Hospitality Management, 72, pp.47-55.

Dib, A., 2018. The 1-Page Marketing Plan: Get New Customers, Make More Money, And.

Fotiadis, A., Mombeuil, C. and Valek, N.S., 2018. Designing and implementing a marketing plan. In The Emerald Handbook of Entrepreneurship in Tourism, Travel, and Hospitality. Emerald Publishing Limited.

Kotler, P., Bowen, J.T., Makens, J. and Baloglu, S., 2017. Marketing for hospitality and tourism.

Lamb, C.W. and Crompton, J.L., 2017. Analyzing marketing performance. In Marketing the Public Sector (pp. 173-184). Routledge.

Melchiorre, M.M. and Johnson, S.A., 2017. Finding new ways to reach older students: Creating a social media marketing plan for professional and continuing higher education programs. The Journal of Continuing Higher Education, 65(2), pp.73-81.

Migliore, R.H., Howard, N.C. and Gray, D.M., 2018. Contemporary Marketing Evolves. Journal of Marketing Development & Competitiveness, 12(2).

Minton, E.A. and Krszjzaniek, E.J., 2020. Enhancing marketing research learning outcomes using the outdoors. Marketing Education Review, pp.1-6.

Opresnik, M.O., 2018, July. Effective Social Media Marketing Planning–How to Develop a Digital Marketing Plan. In International Conference on Social Computing and Social Media (pp. 333-341). Springer, Cham.

Sanjaya, K., Henning, F. and Purba, K.R., 2017, September. 3D LIDAR city model application and marketing plan development. In 2017 International Conference on Soft Computing, Intelligent System and Information Technology (ICSIIT) (pp. 238-242). IEEE.

Ycedo, J., 2020. Development of a Marketing Plan for a Concert & Events Promotion Company (Doctoral dissertation, California State University, Northridge).

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