MAR0436 Strategy and Brand Management Sample
1. Introduction
Competitive analysis seeks to explain different patterns and gains from businesses and competitive advantage serves economic ability to produce goods and products. The aim of the study is to examine competitive analysis and comparative advantage of the leading organization, Lidl.
It operates its business in this challenging global market through adopting the parent core marketing strategy and market analysis. This German supermarket company follows different steps and introduces online services to satisfy its customers for achieving more competitive advantage. The study states lights on market analysis, key competitors, code marketing strategy, market differences and competitive positioning, competitive advantage with some recommendations along with reflection and individual experience and responsibilities.
2. Market analysis
Market analysis is proactive analysis of market demand for different services and products based on the size and nature of a given market or industry. It further looks at different factors involved, such as, value and volume of market, competition and regulations of this competitive market.
Market analysis assists in understanding target audience and conditions to distinguish the business from this challenging competition (Baek et al. 2020). The leading German organization Lidl operates its business across borders and provides free home delivery to satisfy its potential competitors. In the task of analyzing the marketplace I had received opportunities of learning marketing management skills.
Identification of key trends and nature of competition
This renowned brand Lidl conducts its business through market segmentation and market analysis to reach its potential customers. Market analysis is a key practice that focuses on size and volume of market through various customer segments, competition, buying patterns and economic environment in terms of market entry and regulation
. These steps assist organizations to improve its business performance and Lidl has segmented its market to reach its customers. It further follows different trends to increase market competition and these trends assist organizations to satisfy its customers in this competitive market (Zia et al. 2020). In this part I focus and identify the key trends and nature of the competition that Lidl is facing and adopting.
This organization has focused to deliver outstanding customer satisfaction through ensuring market leading quality and value through continuous innovation and change. Lidl is creating sustainable relationships with different business partners through contributing positively with local communities.
Market segmentation and market analysts of the organization has led this organization to its peak of success and it becomes able to achieve long term success through optimizing efficient processes (Goodell et al. 2020). This organization has segmented its market by implementing psychographics segmentation strategy by targeting its potential customers for buying quality products.
Limited budget scale, quality products and the brand image assist this organization to reach its potential customers. I had realized that sales promotions, product offerings and different offers work together for attracting its customers in this competitive market.
Lowest possible costs and high quality products work better in enhancing the lives of customers through optimizing different processes, driven by technology and people.
The market segmentation strategy of this organization is a very important factor that increases its customers by creating brand image. Sustainable business relationships with different partners assist organizations to grow in this competitive market and organization is achieving long-term success (Chong et al. 2017). Lidl increases each customer through this market analysis and sustainable business relationships through appointing different staff and employees. I had experiences that the high quality products, sustainable relationships and market segmentation are key trends of this organization that improve organizational growth and performance.
3. Competitor analysis
In this challenging and competitive global market, due to the increasing number of organizations, this leading German company is facing tremendous business challenges with different competitors. The key competitors of Lidl are Morrisons, Aldi, Tesco, Sainsbury’s and Asda and other online competitors of these organizations are Amazon, Flipkart and so on.
The leading organization is conducting its business performance through offering different products and strengthens its bonds with different competitive organizations (Schmid et al. 2018). I have observed this marketing competition through over viewing this organizational performance and the number of organizations in this competitive market.
Recently, the organization has been involved with different competitors and focused on satisfying their potential customers through best quality products and services. I have experienced this customer oriented policy of this organization to increase its global customers through achieving more revenue. In this UK market, an increasing number of competitors create major challenges and this organization is highly concerned to improve its customer service through high quality products (Păun, and Vamvu, 2018).
I have experienced and performed different marketing research and have achieved knowledge and therefore I have identified the key competitors of this organization in this global market. This strong presence of the competitors makes the organization able to implement different strategies to satisfy its customers and create brand image.
In this task, identification of the marketing competitors is crucial to understand different activities of organizations to influence and attract its customers. I have further realized this challenging market and how this renowned company is dealing with several factors. It creates a strong marketing competition and the organization is facing different challenges to attract its customers through different products and services (Tomasevic, and Spasojevic, 2018).
Over a long period, Tesco and Sainsbury had a market share with this company through holding 4.2% percent and the post -Bruit situation has created different difficulties to this leading organization, Lidl. The market analysis helps me to understand that the increasing inflation rate and post Bruit uncertainty are the tremendous business problems that the organization is facing to attract its customers.
Market share is the important factor that the organization is conducting through different other organizations by creating sustainable relationships and business partnerships. It is also observed that during a prolonged period of intense competition, Lidl implements different strategies and increased volatility. The resulting price source has led the organization to lower the price and the organization is facing different business challenges with these competitors (Compant et al. 2019).
This challenging business environment assists me to acknowledge how the organization is facing the current challenges to meet the changing demand of different customers. These market analysts have assisted me to identify these key competitors of the organizations and how the organization is increasing its market share in this challenging environment.
- Marketing strategy examinations
The study has focused on the core marketing strategy of the key competitors of this renowned organization, Lidl to understand different business performance. These core marketing strategies are highly significant to understand and implement different strategies and challenges in global markets.
These partners assist me to recommend the potential strategies to improve the organizational performance in this competitive market with increasing its customers (Sarmento et al. 2018). Morrisons, Aldi, Tesco, Sainsbury’s and Asda introduce sales promotional strategies and introduce free gifts options to attract and influence the purchasing behavior of its customers. Adaptation of technologies, innovation, market analysis and understanding customer’s demands assist these organizations to meet this demand of different customers.
Market analysis and the knowledge from competitive analysis helps me to understand these core marketing policies of these leading organizations. I have also observed different performance of these organizations and how these strategies are helpful to enhance customer satisfaction and create brand awareness.
Technology further assists in improving and standardizing the supply chain management and organization are able to reach potential customers editor steps (Śmigielska, 2018). Recently the organizations are highly focused to understand the changing behavior of the customers to implement different strategies to improve business performance and capabilities.
Challenging marketing competition has assisted me to recognize the core steps of competitors to attract its customers. Therefore, from my perspective, it is imperative to note that this identification of competitor strategies is helpful for me to recommend key steps.
5. Major differentiation from key competitors
In this study, the points of differentiation of the competitors help to understand the marketing positions of this leading organization, Lidl. The competitors of this organization perform different activities to influence and satisfy customers and focus on increasing more profit. Adaptation of technology, market analysis and identification of different customers are key steps of Morrisons, Aldi, Tesco, Sainsbury’s and Asda to increase its number of customers.
This overview of this organization has helped me to understand and identify the differentiations of Lidl and its competitors (Kavalić et al. 2019). Lidl is more concerned about market segmentation, pricing and product quality to attract its potential customers to increase potential profits.
This point of differentiation is very significant to identify the two competitor organizations and their financial performance in this competitive global market. I have also observed the different policies and strategies of organizations and this is helpful for me to recommend strategies to improve organizational performance.
6. Competitive positioning
In the task, identification of market competition positioning has been focused for understanding impacts of marketing elements in business growth and development. Consideration of key market competitors and focusing on analyzing their capabilities helps in understanding appropriateness of improving strategic options for availing maximum market competition (Sarmento et al. 2018).
During the process of identifying competitive Lidl, I have performed multiple market research and analysis for identifying associated factors that control market positions and competitions. I had realized the importance of product and services differentiation strategies for attracting global customers and maintaining brand position in competitive environments.
Adaptation of digital marketing strategies for connecting with customers and development of marketing strategies for retaining customers helps in business growth (Van Doorn and Velthuis, 2018).
Maintenance of strong market position in the competitive environment by focusing on maintaining product quality, service quality, customer response duration and relationship with distributors and suppliers play a significant role in determining market competition and brand identity of the company.
During the process of analyzing multiple factors and associated consequences of maintaining competitive positioning in the local and international market place by Lidl, I have focused on identifying key strategies for maintaining competitive position effectively for availing maximum opportunities of market competition. According to the view of Śmigielska (2018), engaging with the tasks has helped me and improved my business management and corporate politics skills for identifying appropriate marketing strategies to support competitive positioning. I had also realized the potential role played by digital advertisement strategy in attracting customers and supporting maintenance of brand image in a competitive environment.
The performance of Lidl in the stock market determines their relationship with investors and other key stakeholders and puts an impact on organizational competitive position. Apart from this, brand awareness and maintaining of market positioning with innovative approaches along with adaptation of Corporate Social responsibility is highly reflected on customer perception value towards the organizational product and services (Kavalić et al. 2019).
7. Analyzing competitive advantage
The marketing report and organizational structure of Lidl represent providing maximum attention by Business leaders in developing excellent strategic alignment strategy for combining strategic options with environmental features for maximum customer retention. Lidl is a currency offering approximately two thousand different groceries products to the local and international market place by adopting an advanced supply network.
According to the view of Jaeger and Höhler (2021), geographical and cultural adaptation by the company has greatly contributed in developing customer channels and retaining existing customers with advanced services. Lidl focuses on developing customer segmentation strategy based on geographical and demographic implications research on food preferences and buying behavior of customers.
During group work, I had to realize the importance of cultural adaptation for establishing positive relationships with internal and external stakeholders by respecting their differences and focusing on mutual goals and objectives collectively.
The power of collectivism efforts in businesses also play a significant role in creating a healthy working environment and encourage employees to provide the best effort and significantly help Organization in achieving all the targeted corporate goals and strategies (Tomasevic and Spasojevic, 2018).
8. Reflection on learning outcome
Gibbs reflective cycle is considered for reflecting on learning outcomes from engaging with group tasks associated with analyzing multiple access and consequences of corporate positioning in the competitive environment.
Description: Working in Lidl as an intern and engaging with group work for analyzing competitive analysis and identifying comparative advantage for the company is the major experience. During my internship period I have got multiple opportunities of learning business management activities and the process of identifying strategic options by analyzing the competitive environment and conducting market research for business growth and development.
During the teamwork, analyzing market structure and potential trend, capable marketing strategies, major points of differences and identifying competitive advantage are the major activities I have performed by coordinating and communicating with all the team members (Górska-Warsewicz et al. 2018).
The opportunities have helped me in identifying my individual capabilities of managing business and development of cognitive intelligence associated with business management and strategic development by performing different tasks and responsibilities.
Feelings: During the experience of analyzing marketing structure and competitive environment with my team I had feeling positive outcomes towards learning of market analyzing skill and communication skill by interacting with team members and doing online research on market performances of the selected company.
I got positive feelings towards my professional development by engaging with different activities such as leadership, communication skill and market analyzing skill and I am sure it can help in achieving my future career goals and objectives.
Evaluation: learning of new skills search conducting market research, understanding marketing environment and development of professional skills at a positive experience during the activity. On the other hand, facing cross-cultural issues with team members can be considered as a negative experience due to difficulties in interaction and maintaining flow of information with each other because of different perspectives and thinking.
Analysis: From the activity of analyzing the competitive environment and competitive opportunities of Lidl I could have focused on learning advanced negotiation skills by examining organizational steps and process of managing their human capital. I have to realize the importance of continuous training and motivation provided to the employees for maintaining their effectiveness and contribution in achieving organizational corporate goals and objectives significantly.
Conclusion: from the experience, it can be stated that professional development and growth of cognitive knowledge on identifying business opportunities and appealing maximum benefit from market competition are other major learning outcomes.
Action Plan: In the future, I would like to focus on improving my communication and negotiation skills by understanding different styles and categories of communication for finalizing business deals with internal and external stakeholders. I am also focusing on the adopting situational leadership strategy for identifying maximum strategic options for the company and help in Business expansion in a competitive environment (Babar and Habib, 2021).
9. Conclusion
From the above discussion and reflective statement it can be concluded that participating in group work of identifying strategic options and understanding core business implications has contributed in development of professional skills and enhanced development of cognitive intelligence.
The group work as an intern of Lidl highly contributed in understanding and achieving goals of continuous professional development bi learning Team Management ability and market development skills. The study has contributed to the development of individual abilities of developing strategic options and corporate management strategies for availing maximum opportunities from the market competition.
Apart from that, it has also contributed in understanding maintenance of uniqueness in the competitive environment for attracting customers and understanding customer buying behavior for corporate survival. Gibbs reflective cycle is used in the study for representing learning outcomes and experience on the group task.
Reference List
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