UNIT 2 - Marketing Essentials R/508/0486

The chosen organization for this report is ALDI which is a leading discount supermarket chain operating in more than 20 countries globally. This report talks about ALDI’s marketing roles and responsibilities, components of marketing mix and evaluation main elements of marketing plan.

Task 1

P1 Key roles and responsibilities of marketing function

Marketing refers to the process through which companies create customer interest in product or services. It means meeting the needs and wants of target audience in an effective and efficient manner. It provide high competitive edge to businesses so as to gain and retain loyal customer. The concept of marketing associated with satisfying customer needs profitably. It include selling, distributing, research and public relation. There are various roles and responsibilities of marketing that are discussed below:  

1. Marketing Information System:Market information system the first to the process gathering and analyzing market information. Under this, and if it is made by company in order to identify and understand the needs and wants of customer thoroughly. Companies usually search about what exactly consumer want, in what quantity and at what price. The chosen organization has effectively used to this method in knowing likes and dislikes of target user. For example: ALDI collect information that most of the consumer prefer to purchase goods or services at lower cost.  In addition to that this tool also provide information related with what kind of advertisement must be liked by consumer, how do they want the product and where they want it. 
All the relevant information concerned with potential buyers is collected and analyzed properly. On the basis of this analysis an effort is made by the company find out as to which particular product has the best opportunities in the market.

2. Marketing planning:In order to achieve business objective with regard to its marketing objective, marketer usually chalks out marketing plan. It specifically signify what exactly company wants and at what percentage. For example: ALDI wants to increase the market share grocery product by 40%. So in order to achieve this particular objective the marketer needs to prepare market plan accordingly. This will also state the role of employees towards achieving that objective.

3. Financing: It is considered as one of the most crucial marketing function as the entire group and success of organization depend upon this market function (Draelos, 2011). It takes money to make money. The main responsibility of marketer is to identify various sources through which company can get adequate funding. This marketing function deals with finding the money for business through loans, investments or utilizing personal capital in order to advertise good/services among customers. ALDI is managing their funding through shares, investment and loans.

4. Promotion channel:Promotion means updating or informing the buyers about company's product and encouraging them to buy their product. It includes advertising, sales promotion, publicity and personal selling.  Every decision taken by the marketer in this context affects the overall sales. For example: ALDI is usually doing promotion through coupons only. 

5. Pricing:Setting correct price for product or service comes out as a great challenge for them. If product price is too high then company might lose customers. But if in case prices are low company might be robbing themselves with profits. Therefore it is very important set right price for the product or services that creates value for customer. ALDI is having its own unique pricing strategy that gives them high competitive edge over their rivals. They usually sells goods comparatively at lower rate than other retail stores ( Hauer, 2013). 

6. Distribution: This function is related with how company plans to distribute their product among consumers. Business owners must have an idea about channel management so that they can distribute their product carefully all across the world. ALDI is mainly distributing their product through their stores or outlets. In addition to that, they also sell product through their online application. 

7. Selling: Selling and marketing are complementary function. Marketing creates awareness and builds preference for a product that helps sales representative of the company to sell more of a particular product. Marketing function provide support to sales team by generating sales leads and ask the sales team to take follow up (Jones and Rowley, 2017). ALDI purchases products in bulk quantity from manufacturers and then directly sold to customer.

8. Product/service management: Marketing function gives valuable input to product and service development. Information related with customer needs and wants helps the company to determine the additional features needs to be incorporated in existing or new product. It also help in identifying opportunities concerned with extending product range or launching existing product into new market.

Task 2

P2 How marketing roles and responsibilities is related with various organizational department

Marketing is a social process that satisfy customer needs and wants in an effective manner. It mainly deals with advertisement, promotion and selling and distribution of product. In addition to that marketing function also assist other organizational department such as research department, human resource in order to accomplish business objectives in cost effective and timely manner. 
Following are the role of marketing various organizational department: 
Research and Development Department: R&D department plays crucial role in any organization as it transform future capabilities into new product or services. The main role of this department is to collect information related with customer choice and wants that keeps on changing frequently. Therefore it is important for every business enterprise keep them self-updated with current likes and dislikes of target audience. ALDI figures out that people immediately shift to other competitor who are offering similar product but at low price. Therefore, ALDI came up with its own unique pricing strategy that automatically attracts the customer. 
Human resource department: A business needs to attract profitable buyers in order to attain decent sales number and for obtaining this decent sales number it is important to have talent and skilled personnel who with their capabilities generate maximum sales lead generation. Therefore it is prime responsibility of every company to hire talented candidates. Marketing helps the HR department in finding those talented employees. Market change and so do the expectation of employees. Just like brands have to change to stay competitive employer brand also needs to change employee expectation. The company need to remain on top in almost every extent such as salary data, providing healthy working environment etc. As ALDI is having sheer store layout reduces the level of numbers of employees. Show the company laid stress on hiring only talented skilled competent and knowledgeable worker. 
Production and Operation Department: The main responsibility of operational manager is to maintain minimum stock level. As ALDI buys product in bulk quantities directly from supplier and then store it in their warehouses. Here marketing function assist operational manager in determining future demand of that particular product so that they can purchase accordingly (Mihart and Frank, 2017). Basically with the help of marketing, ALDI can easily figure out demand of any product which help them when buying bulk quantity product from supplier. 
Finance Department: Financial position of the company in market helps them in deciding their budget. If a firm is having sound financial position in market they can easily get funds from various sources when needed. Sound financial position also help in building goodwill of the firm in market (Nguyen and Simkin, 2013).
Customer Service Department: Customers are considered as the king of market. Therefore it is primarily important for any company to satisfy their needs and want in an effective and efficient manner.  ALDI's sheer layout makes easier for customer to find required product as soon as possible. Moreover they take frequent feedback and suggestions from customer which help them in improving their services and satisfying customer requirement in more appropriate manner.

Task 3

P3 Marketing Mix of two organization

Marketing Mix refers to the set of tactics that company uses in order to promote its product or brand in the market. It is generally made up of 7P’s including price, promotion, place, physical evidence, people, process and product. Following are the brief description of 7P’s of ALDI’s and LIDL’s marketing mix.

Task 4

P4 Marketing Plan for the chosen organization

Marketing Plan can be define as a blueprint that outlines all essential marketing and advertising activities of a company for an upcoming year. Its formulation starts with identifying the target customers and this can be done by market research. It mainly includes company’s overview, STP approach, formulation of budget, sales forecast and monitoring and controlling.

Company Overview: ALDI is a common brand of two discounted supermarket chain, operating in more than 20 countries with over 10,000 stores. It’s headquarter is in Germany. The company was started in the 1913 with a food store in the town called Essen in Germany. They mainly deals in providing large number of products to customers at discounted rate and also maintaining quality as well. The company started gaining popularity in the year 1956 by selling high quality product at discounted price over competitors.

Company’s Vision and Mission Statement:

Vision:  “To provide our buyers with the products that they purchase regularly and ensure high standards quality of those products”.

Mission: “To meet customer requirement by offering them high quality product at discounted price”.

STP Approach:

Marketing Budget: 

This sort of spending plan is being made with the thought process of distinguishing a wide range of systems which are being used by ALDI. It is the obligation of the back supervisor for all sort of exercises alongside undertakings regrading promoting. There is high need of making the market dynamic in nature with the thought process of receiving of most recent innovation for having development and achievement and that too in better and viable way. This sort of idea is profoundly used in making mindfulness for the items which are being sold out to clients.

Marketing Plan:

Monitoring and Controlling: At this stage, company needs to analyses whether all the planned activities are carrying out in its systematic manner or not (Papasolomou and Melanthiou, 2012). If they found any deviation, they need to take proper action for rectifying it so that it cannot affect other activities.  

Conclusion

According to the given report it can be concluded that the heart of every organization lies in its marketing process. They market their product so as to aware customer about them and stimulate them to buy the product. Roles and responsibilities of marketing covers pricing, financing, marketing information system, distribution and many more that direct affect firm’s profitability and growth. In addition to that marketing also provide assistance to other organizational department as well. Lastly marketing mix and marketing plan has also discussed in this report that outlines marketing activities for upcoming year.  

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